17.

If you generate 1000 random numbers in Excel using the "=RAND()" formula, what can you say about the mean of these random numbers?

a.

Mean will be less than 1.00 and greater than 0.8

b.

Mean will be less than 0.6 and greater than 0.4

c.

Mean will be less than 0.4 and greater than 0.2

d.

Mean will be less than 0.8 and greater than 0.6

e.

Mean will be larger than or equal to 1.00

24. Figure below is a screenshot of the Exercise #2 Pivot Grid, we built in class earlier. According to the results in this Pivot Grid, what is the maximum time (in minutes) an individual token (i.e. representatives of entities, since no entities are physically send to the system for this simulation) has spent in the system among all 10 replications of Scenario 1.

a.

44.7943

b.

5.3582

c.

37.5295

d.

44.0

e.

4.9482