Types of non-controlled variables, Managerial Accounting

Assignment Help:

Types of Non-Controlled Variables

a) Parameters:

These are input variables that for a given simulation have a constant value. They are factors which help specify the relationship between other variables e.g. in pdn simulation the time taken for routine maintenance, the cost of stock-out, etc.

b) Status Variables:
Status variables may be used to specify the days and seasons to be used in a simulation e.g. demand may be affected by the day of the week

c) Output Variables:
These are the outcomes of the simulation. They occur from the computations and tests executed in the model. The output variables should be carefully selected to reflect the factors that are critical to the real system being simulated and they should associate to the objectives of the real system.  E.g. the output variables for an inventory simulation would include: Cost of holding stock, number of stock-outs, number of unsatisfied orders, number of replenishment orders, and cost of the re-ordering etc.


Related Discussions:- Types of non-controlled variables

Multiple regression, MULTIPLE REGRESSION The least square regression eq...

MULTIPLE REGRESSION The least square regression equation discussed above was based on the assumption that total cost was determined by only one activity based variable. However

Breakeven analysis, I am part of a marketing group, and we are working on a...

I am part of a marketing group, and we are working on a project for a local cable company,they currently serve 3,200 customers and sell 50 wireless boxes a month,what I need to do

Decision making, Trinco Ltd (Trinidad & Tobago-T&T) has been negotiating a ...

Trinco Ltd (Trinidad & Tobago-T&T) has been negotiating a contract with a potential customer in Jamaica. Before the negotiations started the Jamaican company agreed to pay $10,000

Advance factoring and maturity factoring, Advance Factoring and Maturity Fa...

Advance Factoring and Maturity Factoring: In both recourse and non-recourse factoring whether the factor advances cash against book debts to the client instantly on assignment

Cost anlysis, briefly discuss five characteristics of relevant cost

briefly discuss five characteristics of relevant cost

Asset securitisation, The emerging financial scenario has made a fierce com...

The emerging financial scenario has made a fierce competition among the companies to raise funds by innovative financial products by the capital and or money markets. Moreover sour

Prepare two tables showing net profit, Prepare two tables showing net profi...

Prepare two tables showing net profit, residual income and return on investment for each year of the project and also net present value (NPV) for: (i) The BEST OUTCOME; (ii) The

Annual expected total relevant cost, A purchased product, sold in a retail ...

A purchased product, sold in a retail store, has a normally distributed daily demand, with a mean of 8 units/day and a variance of 4 (units) 2 . Its supply lead time is 6 days and

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd