Question 1

Simulation

Accepted Answer

A) does not guarantee optimality. 
B) is flexible and does not require the assumptions of theoretical models. 
C) allows testing of the system without affecting the real system. 
D) All of these are correct. 
A) does not guarantee optimality. 
B) is flexible and does not require the assumptions of theoretical models. 
C) allows testing of the system without affecting the real system. 
D) All of these are correct.

Question 2

Simulation is a method that uses repeated random sampling of values in order to represent uncertainty in a model that represents a real system and computes the values of model outputs.

Accepted Answer

A) True 
 B)False

Question 3

A simulation model in which each trial is used in situations where the state of the system at one point in time does not affect the state of the system at future points in time is called a

Accepted Answer

A) dynamic simulation model. 
B) static simulation model. 
C) steady-state simulation model. 
D) discrete-event simulation model. 
A) dynamic simulation model. 
B) static simulation model. 
C) steady-state simulation model. 
D) discrete-event simulation model.

Question 4

If customer 2 has a service time of 1.6,and if customer 3 has an interarrival time of 1.1 and a service time of 2.3,when will customer 3's service be completed?

Accepted Answer

A) 5.0 
B) 3.9 
C) 3.4 
D) There is not enough information to answer. 
A) 5.0 
B) 3.9 
C) 3.4 
D) There is not enough information to answer.

Question 5

Each simulation run provides only a sample of how the real system will operate.

Accepted Answer

A) True 
 B)False

Question 6

A simulation model provides a convenient experimental laboratory for the real system.

Accepted Answer

A) True 
 B)False

Question 7

A static simulation model is used in situations where the state of the system affects how the system changes or evolves over time.

Accepted Answer

A) True 
 B)False

Question 8

For the past 50 days,daily sales of laundry detergent in a large grocery store have been recorded (to the nearest 10).   ​   ​

Accepted Answer

The answer of For the past 50 days,daily sales of...

Question 9

Simulation is an optimization technique.

Accepted Answer

A) True 
 B)False

Question 10

The degree of risk is associated with the probability or magnitude of loss.

Accepted Answer

A) True 
 B)False

Question 11

Simulation is an excellent technique to use when a situation is too complicated to use standard analytical procedures.

Accepted Answer

A) True 
 B)False

Question 12

A value for probabilistic input from a discrete probability distribution

Accepted Answer

A) is the value given by the RAND()function. 
B) is given by matching the probabilistic input with an interval of random numbers. 
C) is between 0 and 1. 
D) must be nonnegative. 
A) is the value given by the RAND()function. 
B) is given by matching the probabilistic input with an interval of random numbers. 
C) is between 0 and 1. 
D) must be nonnegative.

Question 13

Estimates of the financial information for a new product include the following information:   ​
Use the random numbers 0.51,0.97,0.58,0.22,and 0.16 to simulate five trials.What is the net profit for each trial?

Accepted Answer

The answer of Estimates of the financial information for a...

Question 14

A trial-and-error approach to learning about the range of possible outputs for a model is known as

Accepted Answer

A) what-if analysis. 
B) worst-case scenario analysis. 
C) static simulation modeling. 
D) base-case scenario. 
A) what-if analysis. 
B) worst-case scenario analysis. 
C) static simulation modeling. 
D) base-case scenario.

Question 15

Validation determines that the computer procedure is operating as it is intended to operate.

Accepted Answer

A) True 
 B)False

Question 16

Trials of a simulation show what would happen when values of the probabilistic input change.

Accepted Answer

A) True 
 B)False

Question 17

A set of values for the random variables is called a

Accepted Answer

A) simulation. 
B) risk analysis. 
C) trial. 
D) None of these are correct. 
A) simulation. 
B) risk analysis. 
C) trial. 
D) None of these are correct.

Question 18

Simulation is a trial-and-error approach to problem solving.

Accepted Answer

A) True 
 B)False

Question 19

The time required to set up lighting for a portrait studio is uniformly distributed between 12 and 20 minutes.Use the following random numbers to generate the setup time for 10 customers.

Accepted Answer

The answer of The time required to set up lighting...

Question 20

To use Excel to generate a normally distributed random variable,you must know the mean and standard deviation of the distribution and have a random number between 0 and 1.

Accepted Answer

A) True 
 B)False

Exam 12: Simulation

Simulation

Simulation is a method that uses repeated random sampling of values in order to represent uncertainty in a model that represents a real system and computes the values of model outputs.

A simulation model in which each trial is used in situations where the state of the system at one point in time does not affect the state of the system at future points in time is called a

If customer 2 has a service time of 1.6,and if customer 3 has an interarrival time of 1.1 and a service time of 2.3,when will customer 3's service be completed?

Each simulation run provides only a sample of how the real system will operate.

A simulation model provides a convenient experimental laboratory for the real system.

A static simulation model is used in situations where the state of the system affects how the system changes or evolves over time.

For the past 50 days,daily sales of laundry detergent in a large grocery store have been recorded (to the nearest 10). ​ ​

Simulation is an optimization technique.

The degree of risk is associated with the probability or magnitude of loss.

Simulation is an excellent technique to use when a situation is too complicated to use standard analytical procedures.

A value for probabilistic input from a discrete probability distribution

Estimates of the financial information for a new product include the following information: ​ Use the random numbers 0.51,0.97,0.58,0.22,and 0.16 to simulate five trials.What is the net profit for each trial?

A trial-and-error approach to learning about the range of possible outputs for a model is known as

Validation determines that the computer procedure is operating as it is intended to operate.

Trials of a simulation show what would happen when values of the probabilistic input change.

A set of values for the random variables is called a

Simulation is a trial-and-error approach to problem solving.

The time required to set up lighting for a portrait studio is uniformly distributed between 12 and 20 minutes.Use the following random numbers to generate the setup time for 10 customers.

To use Excel to generate a normally distributed random variable,you must know the mean and standard deviation of the distribution and have a random number between 0 and 1.

Introduction

An Introduction to Linear Programming

Linear Programming: Sensitivity Analysis and Interpretation of Solution

Linear Programming Applications in Marketing, finance, and OM

Advanced Linear Programming Applications

Distribution and Network Models

Integer Linear Programming

Nonlinear Optimization Models

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Decision Analysis

Multicriteria Decisions

Time Series Analysis and Forecasting

Markov Processes

Linear Programming: Simplex Method

Simplex-Based Sensitivity Analysis and Duality

Solution Procedures for Transportation and Assignment Problems

Minimal Spanning Tree

Dynamic Programming

Filters

For the past 50 days,daily sales of laundry detergent in a large grocery store have been recorded (to the nearest 10).

Estimates of the financial information for a new product include the following information: Use the random numbers 0.51,0.97,0.58,0.22,and 0.16 to simulate five trials.What is the net profit for each trial?