It requires mathematically solvable problems. Managers can use simulation to obtain optimal answers for a wide range of problems. A. True B. False 2. Monte Carlo simulations are deterministic. A. True B. False 3.
Simulation is especially useful for situations too complex to be analyzed using mathematical models.
A. True B. False 4. E. All are reasons for its popularity 5. It is a form of sampling, and large samples give more accurate results than small samples. B. Computers are usually used, and they can easily handle large runs. It is part of the scientific approach.