Explain what is meant by a Monte Carlo simulation

What will be an ideal response?


The basic idea in Monte Carlo simulation is to generate values from probability distributions for the variables making up the model being studied.

Business

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The managers and executives at Acme Global have decided on a statement that identifies what they expect the business to become within 6 years. They have identified Acme Global’s ______.

A. goals B. mission C. vision D. environmental awareness

Business

How does a crisis differ from a typical corporate problem?

A) A corporate problem calls for the intervention of the CEO. B) A crisis is a longer-term issue that impacts the entire organization. C) A crisis calls for public relations expertise; a corporate problem does not. D) There is no difference; a corporate problem IS a crisis.

Business

List two ways of ranking job descriptions.

What will be an ideal response?

Business

If geographic location and other demographic characteristics are used as target market dimensions, which potential strategy decision area is mostly likely to be affected?

A. product line assortment B. price-what customers might be willing to pay C. promotion-what potential customers need D. target markets-size E. product-which features to include

Business