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A large fishing operation has information on the interval, time, and probabilities of shrimp schools staying beneath their fishing boats. In order to use this information to predict when and where to send their boats, which of the following techniques should be used?
A. Simulation.
B. Least squares.
C. Queuing theory.
D. Exponential smoothing.
Correct Answer: A
Explanation/Reference:
Explanation:
Simulation is a technique for experimenting with logical and mathematical models using a computer. Because of the behavior of the many variables involved and the complexity of their interactions, many problems cannot be solved using simple algebraic formulas. The availability of computer spreadsheets makes the construction of simulation models a practical alternative for all entities.
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