Exam 14: Simulation Modeling

Table 14-3 A pawn shop in Arlington, Texas, has a drive-through window to better serve customers. The following tables provide information about the time between arrivals and the service times required at the window on a particularly busy day of the week. All times are in minutes. The first random number generated for arrivals is used to tell when the first customer arrives after opening. -According to Table 14-3, the time between successive arrivals is 1, 2, 3, or 4 minutes. If the store opens at 8:00 a.m., and random numbers are used to generate arrivals, what time would the first customer arrive if the first random number were 02?

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Question 1

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List the major advantages of simulation techniques.

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Question 2

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Simulations are flexible; can take advantage of useful simulation software; can analyze large, complex real-world situations; can ask what-if ?; can avoid tampering with the present system; can study the impact of individual variables on the modeled system; can simulate many time periods quickly; can incorporate any probabilistic distribution.

What are the seven steps of simulation?

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(1) define a problem, (2) introduce the variables associated with the problem, (3) construct a model, (4) set up possible courses of action variables for testing, (5) run the experiment, (6) consider the results (possibly deciding to modify the model or change data inputs), and (7) decide what course of action to take.

Table 14-1 A new young mother has opened a cloth diaper service. She is interested in simulating the number of diapers required for a one-year- old. She hopes to use this data to show the cost effectiveness of cloth diapers. The table below shows the number of diapers demanded daily and the probabilities associated with each level of demand. -According to Table 14-1, if the random number 96 were generated for a particular day, what would the simulated demand be for that day?

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Question 4

In assigning random numbers in a Monte Carlo simulation,

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Question 5

If, in a simple queuing or waiting line problem, we wish to know the maximum likely waiting time, or the maximum likely length of the line, we must use a simulation model.

(True/False)

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Question 6

The process of determining that the computer model is internally consistent and following the logic of the conceptual model is called

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Question 7

The number of cars arriving at a self-service gasoline station during the last 50 hours of operation are as follows: Create an appropriate table of interval of random numbers.

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Question 8

Which of the following represents the primary reason simulation cannot be used for the classic EOQ model?

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Question 9

The number of machine breakdowns in a day is 0, 1, or 2, with probabilities 0.6, 0.3, and 0.1, respectively. The following random numbers have been generated: 13, 10, 02, 18, 31, 19, 32, 85, 31, 94. Use these numbers to generate the number of breakdowns for 10 consecutive days. What proportion of these days had at least one breakdown?

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Question 10

Table 14-1 A new young mother has opened a cloth diaper service. She is interested in simulating the number of diapers required for a one-year- old. She hopes to use this data to show the cost effectiveness of cloth diapers. The table below shows the number of diapers demanded daily and the probabilities associated with each level of demand. -According to Table 14-1, what is the cumulative probability that demand is less than or equal to 7?

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Question 11

When establishing a probability distribution based on historical outcomes, the relative frequency for each possible outcome of a variable is found by dividing the frequency of each outcome by the total number of observations.

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Question 12

The four disadvantages of simulation are cost, its trial-and-error nature, time compression, and uniqueness.

(True/False)

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Question 13

A local computer store is running a sale on the first 99 flat panel monitors sold. There is an equally likely chance of 0-99 units being sold. Each monitor cost $250, and profit is $10 per monitor sold. That is, profit equals -$250 + $10X, where X = the number of monitors sold. The mean amount you would expect to sell is 49.5 units. (a) Calculate the expected profit. (b) Simulate the sale of 10 items, using the following double digit random numbers: 47, 77, 98, 11, 02, 18, 31, 20, 32, 90. (c) Calculate the average profit in (b) above, and compare with the results of (a) above.

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Question 14

Simulation can be effectively used in many

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Question 15

The following is not an advantage of simulation:

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Question 16

If we are using a Monte Carlo simulation model, we should expect the model to produce the same results for each set of random numbers used.

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Question 17

Simulation is very flexible. Thus, its solutions and inferences are usually transferable to other problems.

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Question 18

The use of simulations in competitive situations is called

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Question 19

One disadvantage of simulation is that it does not allow for "what-if?" types of questions.

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Question 20

Showing 1 - 20 of 68

List the major advantages of simulation techniques.

What are the seven steps of simulation?

In assigning random numbers in a Monte Carlo simulation,

If, in a simple queuing or waiting line problem, we wish to know the maximum likely waiting time, or the maximum likely length of the line, we must use a simulation model.

The process of determining that the computer model is internally consistent and following the logic of the conceptual model is called

The number of cars arriving at a self-service gasoline station during the last 50 hours of operation are as follows: Create an appropriate table of interval of random numbers.

Which of the following represents the primary reason simulation cannot be used for the classic EOQ model?

When establishing a probability distribution based on historical outcomes, the relative frequency for each possible outcome of a variable is found by dividing the frequency of each outcome by the total number of observations.

The four disadvantages of simulation are cost, its trial-and-error nature, time compression, and uniqueness.

Simulation can be effectively used in many

The following is not an advantage of simulation:

If we are using a Monte Carlo simulation model, we should expect the model to produce the same results for each set of random numbers used.

Simulation is very flexible. Thus, its solutions and inferences are usually transferable to other problems.

The use of simulations in competitive situations is called

One disadvantage of simulation is that it does not allow for "what-if?" types of questions.

Introduction to Quantitative Analysis

Probability Concepts and Applications

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation and Assignment Models

Integer Programming, Goal Programming, and Nonlinear Programming

Network Models

Project Management

Waiting Lines and Queuing Theory Models

Markov Analysis

Statistical Quality Control

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