Which of the following is true of simulation optimization using Analytic Solver Platform (ASP)?
a. It is computationally simple and cheap.
b. It can be executed in a very short time.
c. It is an iterative process.
d. It guarantees an optimal solution.
c
RATIONALE: In general, ASP searches for optimal values of the decision variables by iteratively adjusting the values of the decision variables. Solving a simulation optimization model can be very computationally expensive and take a long time. Furthermore, ASP cannot guarantee an optimal solution to a simulation optimization model.
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