Quantitative Analysis for Management, 13/e

Self-Test

• Before taking the self-test, refer to the learning objectives at the beginning of the chapter, the notes in the margins, and the glossary at the end of the chapter.

• Use the key at the back of the book to correct your answers.

• Restudy pages that correspond to any questions that you answered incorrectly or material you feel uncertain about.

1. Simulation is a technique usually reserved for studying only the simplest and most straightforward of problems.

   1. True

   2. False

2. A simulation model is designed to arrive at a single specific numerical answer to a given problem.

   1. True

   2. False

3. Simulation typically requires a familiarity with statistics to evaluate the results.

   1. True

   2. False

4. The verification process involves making sure that

   1. the model ...