Monte Carlo simulation is only applicable to situations that have elements that can be described by random variables.
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Q5: Simulation is basically an optimizing technique.
Q8: Simulation is used to determine the optimal
Q8: A simulation model is validated if it
Q9: Simulation is useful in situations that are
Q9: Simulation models are fairly easy to use
Q10: A Normal distribution has a mean of
Q12: A Uniform distribution has end points of
Q12: When using a random number table, it
Q15: In simulating values for an Exponential distribution,the
Q16: In probabilistic simulations,a single simulation run will
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