Which Statements below are true?
One of the primary advantages of simulation models is that they enable managers to answer what-if questions about changes in systems without actually changing the physical systems themselves.
When we solve a nonlinear programming problem (NLP), it is very possible that Solver will obtain a suboptimal solution.
A correlation matrix must always have 1’s along its diagonal (because a variable is always perfectly correlated with itself) and the correlations between variables elsewhere.
The built-in functions in Excel, along with the RAND function, can be used to generate random numbers from many different types of probability distributions.
A common distribution for modeling product lifetimes is the binomial distribution.
The random nature of games of chance make them poor candidates for simulation.
