2. Simulations can produce better answers to complex problems than mathematical/analytical models:

False

True

3. Simulations should never be used before important decisions are to be made. Intuition is a better decision-making tool:

True

False

4. The University of Michigan school of thought should be used in service-based industries:

False

True

5. Simulations models are designed to compute a single, exact numerical answer to a given problem:

True

False

6. In solving inventory problems, a simulation is able to better handle probabilistic demand and inventory replenishment lead times:

False

True