Asked by Griselle Gomez on Jul 02, 2024
One of the advantages of simulation is that
A) real-world complications can be included that most OM models cannot permit.
B) it always generates a more accurate solution than a mathematical solution.
C) it is a trial-and-error approach that may produce different solutions in repeated runs.
D) model development is less time consuming than for mathematical models.
E) model solutions are transferable to a wide variety of problems.
Real-world Complications
Unforeseen or complex issues that arise during the implementation of theoretical plans or strategies in practical situations.
OM Models
Operations Management models are mathematical or simulation-based frameworks used for decision-making in optimizing production and operations processes.
Trial-and-Error
A technique for resolving issues that entails persistent, diverse efforts, persisted with until a successful outcome is achieved or the individual ceases to make attempts.
- Identify the advantages and disadvantages of using simulation.
- Comprehend the incorporation of real-world complexities into models through simulation.
Learning Objectives
- Identify the advantages and disadvantages of using simulation.
- Comprehend the incorporation of real-world complexities into models through simulation.
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