Exam 15: Introduction to Simulation Modeling

Assume that x is a random number between 0 and 1,and that the number of units expected to be sold is uniformly distributed between 300 and 500.In this case,sales are given by the expression

(Multiple Choice)

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Question 41

Analysts often plan a simulation so that the confidence interval for the mean of some important output will be sufficiently narrow.The reasoning is that narrow confidence intervals imply more precision about the estimated mean of the output variable.

(True/False)

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Question 42

A probability distribution is bounded if there are values A and B such that

(Multiple Choice)

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Question 43

@RISK introduces uncertainty explicitly into a spreadsheet model by allowing several inputs to have probability distributions and then enabling the simulation of random values from these inputs.

(True/False)

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Question 44

Discrete distributions are sometimes used as approximations of continuous distributions

(Multiple Choice)

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Question 45

The "building blocks" of all spreadsheet simulation models are

(Multiple Choice)

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Question 46

Sometimes it is convenient to treat a discrete probability distribution as continuous,and vice versa.

(True/False)

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Question 47

A probability distribution is bounded if there are values A and B such that only one possible value can be less than A or greater than B.

(True/False)

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Question 48

If we want to model the time it takes to serve a customer at a bank,we will probably choose a(n)_____ distribution.

(Multiple Choice)

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Question 49

Which statement is true regarding the normal distribution?

(Multiple Choice)

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Question 50

If we want to model the monthly return on a stock,a good option would be a:

(Multiple Choice)

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Question 51

It is simple to generate a uniformly distributed random number with a minimum and maximum other than 0 and 1.For example,the formula = 150+100 RAND()generates a number uniformly distributed between

(Multiple Choice)

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Question 52

Each different set of values obtained for the uncertain quantities in a simulation model are considered to be

(Multiple Choice)

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Question 53

When n is reasonably large and p isn't too close to 0 or 1,the binomial distribution can be well approximated by which of the following distributions?

(Multiple Choice)

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Question 54

We typically choose between a symmetric and skewed distribution on the basis of realism.

(True/False)

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Question 55

The three parameters required to specify a triangular distribution are the minimum,mean,and maximum.

(True/False)

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Question 56

The binomial distribution can be well approximated by the normal distribution when the number of trials n is sufficiently small and the probability of success p is not too close to 0 or 1.

(True/False)

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Question 57

A probability distribution is continuous if its possible values fall along some continuum.

(True/False)

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Question 58

Showing 41 - 58 of 58

Assume that x is a random number between 0 and 1,and that the number of units expected to be sold is uniformly distributed between 300 and 500.In this case,sales are given by the expression

Analysts often plan a simulation so that the confidence interval for the mean of some important output will be sufficiently narrow.The reasoning is that narrow confidence intervals imply more precision about the estimated mean of the output variable.

A probability distribution is bounded if there are values A and B such that

@RISK introduces uncertainty explicitly into a spreadsheet model by allowing several inputs to have probability distributions and then enabling the simulation of random values from these inputs.

Discrete distributions are sometimes used as approximations of continuous distributions

The "building blocks" of all spreadsheet simulation models are

Sometimes it is convenient to treat a discrete probability distribution as continuous,and vice versa.

A probability distribution is bounded if there are values A and B such that only one possible value can be less than A or greater than B.

If we want to model the time it takes to serve a customer at a bank,we will probably choose a(n)_____ distribution.

Which statement is true regarding the normal distribution?

If we want to model the monthly return on a stock,a good option would be a:

It is simple to generate a uniformly distributed random number with a minimum and maximum other than 0 and 1.For example,the formula = 150+100 RAND()generates a number uniformly distributed between

Each different set of values obtained for the uncertain quantities in a simulation model are considered to be

When n is reasonably large and p isn't too close to 0 or 1,the binomial distribution can be well approximated by which of the following distributions?

We typically choose between a symmetric and skewed distribution on the basis of realism.

The three parameters required to specify a triangular distribution are the minimum,mean,and maximum.

The binomial distribution can be well approximated by the normal distribution when the number of trials n is sufficiently small and the probability of success p is not too close to 0 or 1.

A probability distribution is continuous if its possible values fall along some continuum.

Introduction to Business Analytics

Describing the Distribution of a Variable

Finding Relationships Among Variables

Business Intelligence Bifor Data Analysis

Probability and Probability Distributions

Decision Making Under Uncertainty

Sampling and Sampling Distributions

Confidence Interval Estimation

Hypothesis Testing

Regression Analysis: Estimating Relationships

Regression Analysis: Statistical Inference

Time Series Analysis and Forecasting

Introduction to Optimization Modeling

Optimization Models

Simulation Models

Data Mining

Analysis of Variance and Experimental Design

Statistical Process Control

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