Select the least accurate statement regarding simulation. In a simulation, correlation between two random input variables may change the mean of an output, but it will not affect the variability and shape of an output distribution. O Simulation can be used to model the effects of uncertainty on system performance. @Risk is an example of an Excel add-in with simulation capability. O It is possible to create simulation models in Excel without Excel add-in software. O The accuracy of simulation statistics improves as the number of simulation trials (or iterations) increases.

Select the least accurate statement regarding simulation. In a simulation, correlation between two random input variables may change the mean of an output, but it will not affect the variability and shape of an output distribution. O Simulation can be used to model the effects of uncertainty on system performance. @Risk is an example of an Excel add-in with simulation capability. O It is possible to create simulation models in Excel without Excel add-in software. O The accuracy of simulation statistics improves as the number of simulation trials (or iterations) increases.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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