True with regard to uncertain variables in rspe software

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1. 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

2. Which of the following statements is true with regard to uncertain variables in RSPE software?

Each uncertain variable must have a discrete probability distribution

Uncertain variables are input variables

The value of the uncertain variable is fixed during most simulation runs

Uncertain variables are output variables

All of the above

3. Which of the following statements is true?

The exponential distribution is not useful for describing the time between random events.

The normal distribution is a good choice when all values within a range are equally likely.

The triangular distribution has a fixed upper and lower bound.

The normal distribution has a fixed upper and lower bound.

The normal distribution describes the number of times an event occurs in a fixed number of trials.

Reference no: EM132164570

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