Firms should use simulation for evaluating decisions when
A) underlying decision trees are simple and explicit solutions for the underlying decision tree are difficult to obtain.
B) underlying decision trees are very complex and explicit solutions for the underlying decision tree are difficult to obtain.
C) underlying decision trees are simple and explicit solutions for the underlying decision tree are easy to obtain.
D) underlying decision trees are very complex and explicit solutions for the underlying decision tree are easy to obtain.
Answer: B
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A. Forced distribution B. Behaviorally anchored rating scales (BARS) C. Simple rank order D. Relative percentile
The version of purchasing power parity that states the exchange rates will adjust to equalize the internal and external purchasing power of a currency is known as the ________
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