Exam 26: Simulation

A student wants to simulate rainy and sunny days in her town for a three-week period.What is the minimum number of digits the student must obtain from a random number table for each observation,if it rained on two-fifths of the days over the past several years at this time of the year? Assume that days can be classified historically as either sunny or rainy.

Natural logarithms are used in simulating the:

Simulation models are fairly easy to use and understand; therefore they can be used for a wide range of decisions.

Customers arrive at a retail store at an average rate of five per hour.The time between arrivals can be described by an Exponential distribution.Assuming a customer has just arrived (time = 12:00 pm),find the arrival time for next two customers.Using the following random digits (left to right): 27,05

In simulating values for an Exponential distribution,the larger the random number,the smaller the simulated value.

Monte Carlo simulation is always associated with:

Simulation is basically a technique which is used for:

Simulation is useful in situations that are too complex to develop mathematical solutions.

An analyst wants to simulate observations from a Uniform distribution that has a lower limit of 60 minutes and an upper limit of 80 minutes.The analyst draws the random number 75 from a two-digit random number table.In terms of this uniform distribution,this is equivalent to a simulated value of:

Monte Carlo simulations yield approximate rather than exact answers.

A Normal distribution has a mean of 500 and a standard deviation of 50.A manager wants to simulate two values from this distribution,and has drawn these random numbers: -0.60 and +1.40.Respectively,the two values are:

The purpose of running experiments on a simulation model is to answer "what if" questions.

During a cross-country trip,a statistics professor decided that the probability that her car could break down on any day was .15.Assume a maximum of one breakdown per day.Repair time,she decided,was normally distributed with a mean of four hours and a standard deviation of .6 hours.Simulate 10 days using these random numbers: 11eab92b_c472_ede2_99e6_8bb6edd8ebb9

A Uniform distribution has end points of 450 and 500,which represent the time limits for a production operation.A manager wants to simulate two times from this distribution,and has obtained the numbers 44 and 10 from a two-digit random number table.Respectively,the two simulated times are:

In probabilistic simulations,a single simulation run will be needed to obtain confidence in the results.

Simulation enables a decision maker to experiment with a system and observe its behaviour.

In a terminating simulation the simulation could theoretically go on indefinitely.

Which of the following is not a reason for simulation's popularity?

Patients arrive at a hospital emergency room at an average rate of four per hour.The times between arrivals can be described by an Exponential distribution.Assuming a patient has just arrived (time = 0),simulate the arrival times for five patients using the following random digits (left to right): 11eab92b_c473_3c07_99e6_715f8b4654a4

Which of the following words does not characterize Monte Carlo?