Exam 13: Operational Decision-Making Tools: Simulation

Simulation is often viewed as the technique of last resort because it can be applied to situations when there is no applicable quantitative model.

At a Wal-Mart store,simulation can be used to analyze waiting lines at check-out stands to determine the required staffing levels.

Simulation analysis is the preferred method used at hospitals to determine the type of treatment a patient requires.

In what ways is simulation relevant to analyzing production problems?

As a simulation model becomes more complex,using a computer application is virtually impossible.

Simulation is the preferred technique for problems with random variables represented by probability distributions.

The weekly demand for a company's product follows the probability distribution below: Use the following random numbers to simulate the product's demand for the next five weeks: 72,27,93,17,47. If the first random number interval begins with 1 then the total demand for the simulated five week period is

A steady state results when a simulation is repeated enough times that the random variable being investigated reaches an average result that remains constant.

Simulation is a popular decision-making tool that provides a solution to any type of problem

Because simulation is used to analyze probabilistic problems it provides information that is used to make a decision versus an optimal solution.

The weekly capacity measured in machine hours for a small machine shop follows the probability distribution shown below: Use the following random numbers to simulate weekly capacity for the machine shop for the next five weeks: 93,31,71,8,6. If the first random number interval begins with 1,then the minimum capacity for the simulated five week period is

After a sufficient number of simulation runs a steady state results when the variable being investigated reaches an _________ value that remains constant.

The ______________ technique selects numbers randomly from a probability distribution for use in a trial run of a simulation.

Simulation analysis is useful for operational problems that

The weekly demand for a company's product follows the probability distribution below: Use the following random numbers to simulate the product's demand for the next five weeks: 72,27,93,17,47. If the first random number interval begins with 1 then the average weekly demand for the simulated five week period is

The Monte Carlo technique is a mathematical model used within a simulation.

An advantage of using a computer versus a manual approach when performing a simulation is that it often takes only seconds versus hours to reach a steady-state result.

The Monte Carlo technique selects numbers randomly from a probability distribution for use in a quantitative model.

What is simulation and why is it a popular decision-making tool?

A random number's likelihood of being selected is based on a normal distribution.