Question 1

Monte Carlo simulation was developed as a quantitative technique by the great mathematician John von Neumann during World War I.

Accepted Answer

A) True 
 B)False

Question 2

The advantage of simulation over queuing or waiting line models is that simulation allows us to relax our assumptions regarding arrival and service distributions.

Accepted Answer

A) True 
 B)False

Question 3

Table 14-2
A pharmacy is considering hiring another pharmacist to better serve customers. To help analyze this situation, records are kept to determine how many customers will arrive in any 10-minute interval. Based on 100 ten-minute intervals, the following probability distribution has been developed and random numbers assigned to each event.  
-According to Table 14-2, the number of arrivals in any 10-minute period is between 6 and 10, inclusive. Suppose the next three random numbers were 20, 50, and 79, and these were used to simulate arrivals in the next three 10-minute intervals. How many customers would have arrived during this 30-minute time period?

Accepted Answer

A)  18 
B)  19 
C)  20 
D)  21 
E)  None of the above 
A)  18 
B)  19 
C)  20 
D)  21 
E)  None of the above

Question 4

A flow diagram is helpful in the logical coding procedures for programming a simulation process.

Accepted Answer

A) True 
 B)False

Question 5

A certain grocery store has created the following tables of intervals of random numbers with regard to the number of people who arrive at its three checkout stands ready to check out, and the time it takes to check out the individuals. Simulate the utilization rate of the three checkout stands over four minutes using the following random numbers for arrivals: 07, 60, 49, and 95. Use the following random numbers for service: 77, 76, 51, and 16. Describe the results at the end of the four-minute period.

Accepted Answer

@#IMG-DLM& Note: The first customer arrives at min

Question 6

The Monte Carlo simulation is used with variables that are probabilistic.

Accepted Answer

A) True 
 B)False

Question 7

The process of comparing a model to the real system that it represents to make sure it is accurate is called

Accepted Answer

A)  validation. 
B)  verification. 
C)  simulation. 
D)  experimentation. 
E)  None of the above 
A)  validation. 
B)  verification. 
C)  simulation. 
D)  experimentation. 
E)  None of the above

Question 8

The wider the variation among results produced by using different sets of random numbers, the longer we need to run the simulation to obtain reliable results.

Accepted Answer

A) True 
 B)False

Question 9

Validation relates to building the right model.

Accepted Answer

A) True 
 B)False

Question 10

When using a random number generator, one should never start in the middle of the table of random numbers.

Accepted Answer

A) True 
 B)False

Question 11

While it is powerful, simulation is not considered to be a flexible quantitative analysis tool.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following scenarios would require simulation for a queuing model?

Accepted Answer

A)  Poisson arrival process 
B)  exponential service time 
C)  deterministic arrival process 
D)  deterministic service time 
E)  None of the above 
A)  Poisson arrival process 
B)  exponential service time 
C)  deterministic arrival process 
D)  deterministic service time 
E)  None of the above

Question 13

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 40 were generated for a particular day, what would the simulated demand be for that day?

Accepted Answer

A)  5 
B)  6 
C)  7 
D)  20 
E)  None of the above 
A)  5 
B)  6 
C)  7 
D)  20 
E)  None of the above

Question 14

Despite the power of simulation, less than 20% of the largest U.S. corporations use simulation in corporate planning.

Accepted Answer

A) True 
 B)False

Question 15

Table 14-4    
-According to Table 14-4, which presents a summary of the Monte Carlo output from a simulation of 200 runs, there are 5 possible values for the variable of concern. If random numbers between 01 and 100 are used to generate values, then a random draw of 72 would produce a variable value of ________.

Accepted Answer

A)  0 
B)  1 
C)  2 
D)  3 
E)  4 
A)  0 
B)  1 
C)  2 
D)  3 
E)  4

Question 16

Simulation models are useful for economic order quantity problems with probabilistic demand and lead time.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is not considered one of the 5 steps of Monte Carlo Simulation?

Accepted Answer

A)  establishing probability distributions for important input variables 
B)  generating random number 
C)  building a cumulative probability distribution for each input variable 
D)  establishing an objective function 
E)  simulating a series of trials 
A)  establishing probability distributions for important input variables 
B)  generating random number 
C)  building a cumulative probability distribution for each input variable 
D)  establishing an objective function 
E)  simulating a series of trials

Question 18

Simulation models can be broken down into which of the following three categories?

Accepted Answer

A)  Monte Carlo, queuing, and inventory 
B)  queuing, inventory, and maintenance policy 
C)  Monte Carlo, operational gaming, systems simulation 
D)  inventory, systems simulation, and operational gaming 
E)  None of the above 
A)  Monte Carlo, queuing, and inventory 
B)  queuing, inventory, and maintenance policy 
C)  Monte Carlo, operational gaming, systems simulation 
D)  inventory, systems simulation, and operational gaming 
E)  None of the above

Question 19

A certain grocery store has noted the following figures with regard to the number of people who arrive at its three checkout stands ready to check out, and the time it takes to check out the individuals.   Create an appropriate table of interval of random numbers for both variables.

Accepted Answer

The answer of A certain grocery store has noted the...

Question 20

Explain what is meant by a Monte Carlo simulation.

Accepted Answer

The basic idea in Monte Carlo

Monte Carlo simulation was developed as a quantitative technique by the great mathematician John von Neumann during World War I.

The advantage of simulation over queuing or waiting line models is that simulation allows us to relax our assumptions regarding arrival and service distributions.

A flow diagram is helpful in the logical coding procedures for programming a simulation process.

The Monte Carlo simulation is used with variables that are probabilistic.

The process of comparing a model to the real system that it represents to make sure it is accurate is called

The wider the variation among results produced by using different sets of random numbers, the longer we need to run the simulation to obtain reliable results.

Validation relates to building the right model.

When using a random number generator, one should never start in the middle of the table of random numbers.

While it is powerful, simulation is not considered to be a flexible quantitative analysis tool.

Which of the following scenarios would require simulation for a queuing model?

Despite the power of simulation, less than 20% of the largest U.S. corporations use simulation in corporate planning.

Simulation models are useful for economic order quantity problems with probabilistic demand and lead time.

Which of the following is not considered one of the 5 steps of Monte Carlo Simulation?

Simulation models can be broken down into which of the following three categories?

A certain grocery store has noted the following figures with regard to the number of people who arrive at its three checkout stands ready to check out, and the time it takes to check out the individuals. Create an appropriate table of interval of random numbers for both variables.

Explain what is meant by a Monte Carlo simulation.

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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Exam 14: Simulation Modeling

Monte Carlo simulation was developed as a quantitative technique by the great mathematician John von Neumann during World War I.

The advantage of simulation over queuing or waiting line models is that simulation allows us to relax our assumptions regarding arrival and service distributions.

A flow diagram is helpful in the logical coding procedures for programming a simulation process.

The Monte Carlo simulation is used with variables that are probabilistic.

The process of comparing a model to the real system that it represents to make sure it is accurate is called

The wider the variation among results produced by using different sets of random numbers, the longer we need to run the simulation to obtain reliable results.

Validation relates to building the right model.

When using a random number generator, one should never start in the middle of the table of random numbers.

While it is powerful, simulation is not considered to be a flexible quantitative analysis tool.

Which of the following scenarios would require simulation for a queuing model?

Despite the power of simulation, less than 20% of the largest U.S. corporations use simulation in corporate planning.

Simulation models are useful for economic order quantity problems with probabilistic demand and lead time.

Which of the following is not considered one of the 5 steps of Monte Carlo Simulation?

Simulation models can be broken down into which of the following three categories?

A certain grocery store has noted the following figures with regard to the number of people who arrive at its three checkout stands ready to check out, and the time it takes to check out the individuals. Create an appropriate table of interval of random numbers for both variables.

Explain what is meant by a Monte Carlo simulation.

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

Filters