Question 1

Simulation studies are normally limited to systems that encompass isolated business units.

Accepted Answer

A) True 
 B)False

Question 2

When one or more input variables are random, then the output variables are also random.

Accepted Answer

A) True 
 B)False

Question 3

The conceptual model of the simulation model involves:

Accepted Answer

A)  Identifying the scope of the model. 
B)  Identifying the timeframe of the simulation study. 
C)  Identifying the goals of the model. 
D)  All of the above 
A)  Identifying the scope of the model. 
B)  Identifying the timeframe of the simulation study. 
C)  Identifying the goals of the model. 
D)  All of the above

Question 4

A simulation model is valid when it represents:

Accepted Answer

A)  The correct real-life system. 
B)  The real-life system correctly. 
C)  Both a and b 
D)  Neither a nor b 
A)  The correct real-life system. 
B)  The real-life system correctly. 
C)  Both a and b 
D)  Neither a nor b

Question 5

Which of the following functions must be performed in stochastic data input?

Accepted Answer

A)  Testing data for independence 
B)  Testing data for homogeneity 
C)  Fitting data for statistical distributions 
D)  All of the above 
A)  Testing data for independence 
B)  Testing data for homogeneity 
C)  Fitting data for statistical distributions 
D)  All of the above

Question 6

In a simulation model, input variables are called dependent variables.

Accepted Answer

A) True 
 B)False

Question 7

Big Data offers opportunities when applied to simulation models, mostly due to the dimension(s) of:

Accepted Answer

A)  Volume. 
B)  Velocity. 
C)  Variety. 
D)  All of the above 
A)  Volume. 
B)  Velocity. 
C)  Variety. 
D)  All of the above

Question 8

Which of the following is true about a static simulation model?

Accepted Answer

A)  A static simulation model represents the system at a given point in time. 
B)  A static simulation model is different from Monte Carlo simulation model. 
C)  A static simulation model is used for decision-making under certainty. 
D)  All of the above 
A)  A static simulation model represents the system at a given point in time. 
B)  A static simulation model is different from Monte Carlo simulation model. 
C)  A static simulation model is used for decision-making under certainty. 
D)  All of the above

Question 9

A simulation model is discrete when the state of the variables:

Accepted Answer

A)  Does not change over time. 
B)  Changes at discrete points in time. 
C)  Changes at continuous points in time. 
D)  All of the above 
A)  Does not change over time. 
B)  Changes at discrete points in time. 
C)  Changes at continuous points in time. 
D)  All of the above

Question 10

Simulation methodology can be used as a prescriptive analytics tool.

Accepted Answer

A) True 
 B)False

Question 11

If the structure of the systems to be modeled is complex, then the modeler should avoid using simulation methodology as a prescriptive analytics tool.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following explains why simulation is a preferred prescriptive analytics tool when investigating the behavior of complex systems?

Accepted Answer

A)  Simulation can be used to find optimal solutions for complex systems. 
B)  Simulation can be used to mimic the complexity of the systems and test alternative solutions. 
C)  Simulation can be used to replace other mathematical programming techniques. 
D)  All of the above 
A)  Simulation can be used to find optimal solutions for complex systems. 
B)  Simulation can be used to mimic the complexity of the systems and test alternative solutions. 
C)  Simulation can be used to replace other mathematical programming techniques. 
D)  All of the above

Question 13

Which of the following is not an advantage of simulation methodology as compared to mathematical programming techniques?

Accepted Answer

A)  Finding optimal solutions 
B)  Investigating hypothetical scenarios before implementing potential costly changes 
C)  Dealing with relatively complex systems 
D)  None of the above 
A)  Finding optimal solutions 
B)  Investigating hypothetical scenarios before implementing potential costly changes 
C)  Dealing with relatively complex systems 
D)  None of the above

Question 14

In a simulation run, the warm-up period is used to:

Accepted Answer

A)  Validate the model performance. 
B)  Bring the system to a stable state. 
C)  Test the system with idle resources. 
D)  All of the above 
A)  Validate the model performance. 
B)  Bring the system to a stable state. 
C)  Test the system with idle resources. 
D)  All of the above

Question 15

The scope of the study is defined by the time required to complete the simulation study and the organizational unit included in the study.

Accepted Answer

A) True 
 B)False

Question 16

Dynamic models have an embedded simulation clock and mimic the behavior of the system from a given start time to a given end time.

Accepted Answer

A) True 
 B)False

Question 17

Simulation methodology can be used to test business scenarios without significant process disruptions. These scenarios include:

Accepted Answer

A)  Testing different machines with different capabilities. 
B)  Testing new facility locations. 
C)  Testing alternative product designs. 
D)  Testing scheduling policies. 
E)  All of the above 
A)  Testing different machines with different capabilities. 
B)  Testing new facility locations. 
C)  Testing alternative product designs. 
D)  Testing scheduling policies. 
E)  All of the above

Question 18

Which of the following is true about a dynamic simulation model?

Accepted Answer

A)  A dynamic simulation model represents the system at a given point in time. 
B)  A dynamic simulation model is also known as Monte Carlo simulation model. 
C)  A dynamic simulation model is used to decision-making under uncertainty. 
D)  All of the above 
A)  A dynamic simulation model represents the system at a given point in time. 
B)  A dynamic simulation model is also known as Monte Carlo simulation model. 
C)  A dynamic simulation model is used to decision-making under uncertainty. 
D)  All of the above

Question 19

The state variables of a restaurant change when a customer arrives, when an order is taken, and when the food is served. As such, the restaurant can be represented with a continuous simulation model.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is not a step in the simulation methodology?

Accepted Answer

A)  Analyzing input 
B)  Designing experiments 
C)  Running the simulation model 
D)  Analyzing output 
A)  Analyzing input 
B)  Designing experiments 
C)  Running the simulation model 
D)  Analyzing output

Simulation studies are normally limited to systems that encompass isolated business units.

When one or more input variables are random, then the output variables are also random.

The conceptual model of the simulation model involves:

A simulation model is valid when it represents:

Which of the following functions must be performed in stochastic data input?

In a simulation model, input variables are called dependent variables.

Big Data offers opportunities when applied to simulation models, mostly due to the dimension(s) of:

Which of the following is true about a static simulation model?

A simulation model is discrete when the state of the variables:

Simulation methodology can be used as a prescriptive analytics tool.

If the structure of the systems to be modeled is complex, then the modeler should avoid using simulation methodology as a prescriptive analytics tool.

Which of the following explains why simulation is a preferred prescriptive analytics tool when investigating the behavior of complex systems?

Which of the following is not an advantage of simulation methodology as compared to mathematical programming techniques?

In a simulation run, the warm-up period is used to:

The scope of the study is defined by the time required to complete the simulation study and the organizational unit included in the study.

Dynamic models have an embedded simulation clock and mimic the behavior of the system from a given start time to a given end time.

Simulation methodology can be used to test business scenarios without significant process disruptions. These scenarios include:

Which of the following is true about a dynamic simulation model?

The state variables of a restaurant change when a customer arrives, when an order is taken, and when the food is served. As such, the restaurant can be represented with a continuous simulation model.

Which of the following is not a step in the simulation methodology?

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Exam 10: Business Analytics With Simulation

Simulation studies are normally limited to systems that encompass isolated business units.

When one or more input variables are random, then the output variables are also random.

The conceptual model of the simulation model involves:

A simulation model is valid when it represents:

Which of the following functions must be performed in stochastic data input?

In a simulation model, input variables are called dependent variables.

Big Data offers opportunities when applied to simulation models, mostly due to the dimension(s) of:

Which of the following is true about a static simulation model?

A simulation model is discrete when the state of the variables:

Simulation methodology can be used as a prescriptive analytics tool.

If the structure of the systems to be modeled is complex, then the modeler should avoid using simulation methodology as a prescriptive analytics tool.

Which of the following explains why simulation is a preferred prescriptive analytics tool when investigating the behavior of complex systems?

Which of the following is not an advantage of simulation methodology as compared to mathematical programming techniques?

In a simulation run, the warm-up period is used to:

The scope of the study is defined by the time required to complete the simulation study and the organizational unit included in the study.

Dynamic models have an embedded simulation clock and mimic the behavior of the system from a given start time to a given end time.

Simulation methodology can be used to test business scenarios without significant process disruptions. These scenarios include:

Which of the following is true about a dynamic simulation model?

The state variables of a restaurant change when a customer arrives, when an order is taken, and when the food is served. As such, the restaurant can be represented with a continuous simulation model.

Which of the following is not a step in the simulation methodology?

Business Analytics With Management Science

Introduction to Linear Programming

Business Analytics With Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Linear Programming

Marketing Analytics With Multiple Goals

Filters