Which of the followingproblems might best be characterized by a finite-horizon simulation?a. Simulating long-term hurricane patternsb. Simulating a manufacturing cell 24/7/365c. Simulating the operations of a bank from 9:00 a.m. until 5:00 p.m.Correct!Correct!

1/8d. Simulating the steady-state distribution of a Markov chai

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The correct option is simulating long-term hurricane pattern. An ending time or condition that precisely defines the simulation's conclusion can be specified in a finite-horizon simulation.

An ending time or condition that precisely defines the simulation's conclusion can be specified in a finite-horizon simulation. Since there are obvious terminating conditions, finite horizon simulations are frequently referred to as terminating simulations. A system-related event or condition that signals the end of each simulation replication is present for a finite horizon simulation.

This event can either have its time of occurrence predetermined or be random. When anything is specified in advance, it's usually because you don't want information after a certain point (e.g. a 3 month planning horizon). If the system shuts down when a criteria is met, it can be a random variable. When there are no more entities to process, for instance, the simulation may be terminated by specifying an ending condition. Since the majority of planning processes are finite, finite horizon simulations are very popular.

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