Which of the following type of model is used when inputs are modeled with probability distributions
A) Simulation model
B) Deterministic model
C) Heuristic model
D) Spreadsheet model

Question

Which of the following type of model is used when inputs are modeled with probability distributions
A) Simulation model 
B) Deterministic model 
C) Heuristic model 
D) Spreadsheet model

Quizplus · Accepted Answer

Simulation models are used when inputs are modeled with probability distributions. They generate artificial data by simulating the real-world processes under different scenarios. This helps to understand the behavior of the system and predict the outcomes of different decision alternatives. Deterministic models use fixed values for their inputs, heuristic models rely on rules of thumb or expert judgment, and spreadsheet models may or may not incorporate probabilistic inputs.

Which of the Following Type of Model Is Used When