7. Simulation is often the first choice of decision makers instead of analytic models. (t/f)

9. Computer simulation is only applicable to situations that have elements that can be described by random variables. (t/f)

10. You are reviewing a simulation model and find that the analyst who prepared the model used the formula = 100 + (175-100) x RAND() to generate the simulated selling proce of a product. which of the following assumptions did the analyst make about the selling price of the product?

a. The minimum price of the product is 175.

b. the maximum price of the product is 175.

c. the cost of the product is normally distributed.

11. Simulation enables a decision maker to experiment with a system and observe its behavior. (t/f)

13. The main procedure of advancing the time on the simulation clock is called next-event time advance. (t/f)

14. You have been asked to simulate the process of flipping two identical unbiased coins. how many possible outcomes exist for this process?

a. 1

b. 2

c. 3

d. 4

e. 5

15. Simulation is especially useful for situations too complex to be analyzed using analytical models. (t/f)