Which of the following statements regarding simulation is TRUE?
A) Large-scale simulation models are virtually all handled by computer.
B) Simulation has numerous areas of application in operations.
C) Simulation attempts to duplicate a real system.
D) The process of simulation involves seven steps.
E) All of these are true.
E
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If in conducting a study to determine what modifications should be made on an existing product the researcher assigns weights of 4.0 to heavy users, 3.0 to medium users, 2.0 to light users, and 1.0 to nonusers
Which group's opinion has greater importance? A) nonusers B) light users C) medium users D) heavy users
Which of the following capital budgeting techniques does NOT specifically use time value of money analysis?
A) payback period B) net present value C) internal rate of return D) modified internal rate of return