Demand for a product is 10,000 per month for sure and the variable and fixed costs are also known with a high level of certainty. Models incorporating this data are best done using
A) deterministic model
B) probabilistic models
C) neither
D) both

Question

Quizplus · Accepted Answer

Deterministic models are best suited for situations where all the inputs and outputs are known with certainty, as is the case here with known demand, variable costs, and fixed costs.

Demand for a Product Is 10,000 Per Month for Sure