QUESTION
- When choosing a probability distribution in an RSPE simulation, it is important to:
compare the sample data statistics with standard values
consider the fit statistic
run at least 10,000 simulation trials
check the similarity between the input data and the output data
carefully define the output cells
0.5 points
QUESTION
- A marketing director needs to estimate the demand for a new product and she obtains the pessimistic, the optimistic and the most likely estimates of the demand from the company’s store manager. What probability distribution should be used to describe this random variable in computer simulation?
Uniform distribution
Triangular distribution
Exponential distribution
Normal distribution
Binomial distribution
