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Management · Q165

Operations Research or Qualitative Approach

Graduate and Post Graduate · Management · question 165

Q165

As simulation is not an analytical model, therefore the result of simulation must be viewed as.

A.
Unrealistic
B.
Exact
C.
Approximation
Answer
D.
Simplified

Answer: Option C

Solution

Answer: Option C
Solution:
As simulation is not an analytical model, therefore the result of simulation must be viewed as approximation. Analytical models are mathematical models that have a closed form solution, i.e. the solution to the equations used to describe changes in a system can be expressed as a mathematical analytic function.