A model for conducting experiments that test possible outcomes resulting from a quantitative model of a system is known as:
A) Financial model
B) Simulation model
C) Statistical model
D) Optimization model
E) None of the above

Question

Quizplus · Accepted Answer

A simulation model is used for conducting experiments to test possible outcomes from a quantitative model of a system, allowing for the analysis of complex systems and the prediction of their behavior under different scenarios.

A Model for Conducting Experiments That Test Possible Outcomes Resulting