Which of the following is characteristic of Monte Carlo simulation?
A) Results are usually not valid, but provide managers with an approximation.
B) Time compression is not possible using this technique.
C) Statistical sampling is used to create outcomes for many trials.
D) Computer packages such as SimQuick and Arena can show on-screen graphics of customers moving through the system or inventory accumulation.
Answer: C
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The distance that I zoning ordinance requires between our properties boundaries and it's improvements is
A) a buffer zone. B) range. C) frontage. D) setback.
All of the following basic consideration questions are important for those whose responsibility includes setting prices on goods that cross borders except:
A) Does the price reflect the product's quality? B) Is the price competitive given local market conditions? C) Does the local market use target costing? D) Should prices differ with market segment? E) Do the foreign country's dumping laws pose a problem?