Question

Question 14

1. Simulation with Analytic Solver (or any other commercial simulation package) is ussually a much better choice for doing simulation than by trying to do it in Excel

   True

   False

Question 15

1. The "flaw of averages", which we talked about in class, is:

   		pretty much the same as the law of large numbers you learned in statistics
   		assuming incorrectly that the output of a model using the average values of the inputs will be the same as the average of the outputs over each possible set of input values.
   		expecting that the average output has to be a possible outcome.
   		assuming the average and median will be pretty close in most data sets.

Answer 1

14. True

15. Assuming incorrectly that the output of a model using the average values of the inputs will be the same as the average of the outputs over each possible set of input values.