Which of the following statements in regard to simulation is false?
A)Simulation allows managers to evaluate many aspects of the risk associated with a project.
B)Simulation typically involves results from thousands of runs in the computer.
C)Specifying the simulation model takes a small amount of time as the computer selects specific values from the distribution of each of the variables.
D)None of the given options.

Question

Quizplus · Accepted Answer

Specifying the simulation model can take a significant amount of time as it involves selecting appropriate distributions, identifying input variables and determining the relationships between them, and establishing constraints and assumptions.

Which of the Following Statements in Regard to Simulation Is