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QUESTION 4 The primary difference between simulation models and other types of spreadsheet models is that simulation models contain deterministic inputs random numbers output cells
QUESTION 4 The primary difference between simulation models and other types of spreadsheet models is that simulation models contain deterministic inputs random numbers output cells constraints QUESTION 5 Discrete distributions are sometimes used in place of continuous distributions: because they are more accurate when we don't know the mean and variance of the distribution when we need to generate a histogram because they are simpler QUESTION 6 The RAND() function in excel models which of the following probability distributions? Normal distribution with mean 0 and standard deviation 1 Uniform distribution with lower limit - 1 and upper limit 1 Uniform distribution with lower limit 0 and upper limit 1 Normal distribution with mean -1 and standard deviation 1
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