Question 1

A trend chart shows the trend in profit values from trial to trial.

Accepted Answer

A) True 
 B)False  False

Question 2

Which of the following is not a characteristic of the normal distribution?

Accepted Answer

A)  Some value is the most likely. 
B)  Values closest to the mean are more likely. 
C)  It must be symmetric. 
D)  Values cannot fall below zero. 
E)  Extreme values are possible, but rare. 
A)  Some value is the most likely. 
B)  Values closest to the mean are more likely. 
C)  It must be symmetric. 
D)  Values cannot fall below zero. 
E)  Extreme values are possible, but rare. D

Question 3

Which of the following is not one of the charts or tables provided by RSPE?

Accepted Answer

A)  Frequency chart 
B)  Statistics table 
C)  Standard error chart 
D)  Cumulative frequency chart 
E)  Percentiles table 
A)  Frequency chart 
B)  Statistics table 
C)  Standard error chart 
D)  Cumulative frequency chart 
E)  Percentiles table C

Question 4

A probability distribution shows the relative likelihood of observing any particular value.

Accepted Answer

A) True 
 B)False

Question 5

The sensitivity chart in RSPE indicates the increase in the results cell per unit increase in the uncertain variable cell.

Accepted Answer

A) True 
 B)False

Question 6

RSPE is guaranteed to find the optimal solution to a simulation problem.

Accepted Answer

A) True 
 B)False

Question 7

One way to ensure that Analytic Solver identifies an optimal solution quickly is to do which of the following?
I. Set the "Max Time without Improvement" setting to zero.
II. Add bounds for the decision variables.
III. Add integer constraints to the model.

Accepted Answer

A)  I only 
B)  II only 
C)  III only 
D)  Only II and III 
E)  I, II, and III 
A)  I only 
B)  II only 
C)  III only 
D)  Only II and III 
E)  I, II, and III

Question 8

When applying simulation to an inventory problem, which of the following would be an uncertain variable cell?

Accepted Answer

A)  The total profit 
B)  The holding cost per unit 
C)  The demand 
D)  All of the answers choices are correct. 
E)  None of the answer choices is correct. 
A)  The total profit 
B)  The holding cost per unit 
C)  The demand 
D)  All of the answers choices are correct. 
E)  None of the answer choices is correct.

Question 9

A danger of using the lognormal distribution is that values can fall below zero.

Accepted Answer

A) True 
 B)False

Question 10

The negative binomial distribution describes the number of trials until an event occurs n times.

Accepted Answer

A) True 
 B)False

Question 11

RSPE can be used to fit a discrete distribution to data.

Accepted Answer

A) True 
 B)False

Question 12

The geometric distribution describes the number of times an event occurs in a fixed number of trials.

Accepted Answer

A) True 
 B)False

Question 13

The distribution shown below is most likely which of the following?

Accepted Answer

A)  Normal distribution 
B)  Triangular distribution 
C)  Lognormal distribution 
D)  Uniform distribution 
E)  Exponential distribution 
A)  Normal distribution 
B)  Triangular distribution 
C)  Lognormal distribution 
D)  Uniform distribution 
E)  Exponential distribution

Question 14

The exponential distribution has a most likely value that is equal to

Accepted Answer

A)  zero. 
B)  the mean. 
C)  the variance. 
D)  All of the answers choices are true. 
E)  None of the answer choices is true. 
A)  zero. 
B)  the mean. 
C)  the variance. 
D)  All of the answers choices are true. 
E)  None of the answer choices is true.

Question 15

A grocery chain has decided to reduce the price of milk to encourage customers to purchase higher quantities. This is an example of revenue management.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is not a characteristic of the lognormal distribution?

Accepted Answer

A)  Some value is the most likely. 
B)  It is negatively skewed (above the mean more likely). 
C)  Values cannot fall below zero. 
D)  Extreme values (high end only) are possible, but rare. 
E)  All of the answers choices are characteristic of the lognormal distribution. 
A)  Some value is the most likely. 
B)  It is negatively skewed (above the mean more likely). 
C)  Values cannot fall below zero. 
D)  Extreme values (high end only) are possible, but rare. 
E)  All of the answers choices are characteristic of the lognormal distribution.

Question 17

Increasing the number of trials increases the accuracy of a simulation.

Accepted Answer

A) True 
 B)False

Question 18

A danger of using the normal distribution is that values can fall below zero.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following distributions is widely used to describe the time between random events?

Accepted Answer

A)  Uniform distribution 
B)  Exponential distribution 
C)  Poisson distribution 
D)  Normal distribution 
E)  None of the answer choices is correct. 
A)  Uniform distribution 
B)  Exponential distribution 
C)  Poisson distribution 
D)  Normal distribution 
E)  None of the answer choices is correct.

Question 20

The normal distribution is always a symmetric distribution.

Accepted Answer

A) True 
 B)False

A trend chart shows the trend in profit values from trial to trial.

Which of the following is not a characteristic of the normal distribution?

Which of the following is not one of the charts or tables provided by RSPE?

A probability distribution shows the relative likelihood of observing any particular value.

The sensitivity chart in RSPE indicates the increase in the results cell per unit increase in the uncertain variable cell.

RSPE is guaranteed to find the optimal solution to a simulation problem.

One way to ensure that Analytic Solver identifies an optimal solution quickly is to do which of the following? I. Set the "Max Time without Improvement" setting to zero. II. Add bounds for the decision variables. III. Add integer constraints to the model.

When applying simulation to an inventory problem, which of the following would be an uncertain variable cell?

A danger of using the lognormal distribution is that values can fall below zero.

The negative binomial distribution describes the number of trials until an event occurs n times.

RSPE can be used to fit a discrete distribution to data.

The geometric distribution describes the number of times an event occurs in a fixed number of trials.

The distribution shown below is most likely which of the following?

The exponential distribution has a most likely value that is equal to

A grocery chain has decided to reduce the price of milk to encourage customers to purchase higher quantities. This is an example of revenue management.

Which of the following is not a characteristic of the lognormal distribution?

Increasing the number of trials increases the accuracy of a simulation.

A danger of using the normal distribution is that values can fall below zero.

Which of the following distributions is widely used to describe the time between random events?

The normal distribution is always a symmetric distribution.

Introduction

Linear Programming: Basic Concepts

Linear Programming: Formulation and Applications

The Art of Modeling With Spreadsheets

What-If Analysis for Linear Programming

Network Optimization Problems

Using Binary Integer Programming to Deal With Yes-Or-No Decisions

Nonlinear Programming

Decision Analysis

Forecasting

Queueing Models

Computer Simulation: Basic Concepts

Filters

Exam 13: Computer Simulation With Analytic Solver

A trend chart shows the trend in profit values from trial to trial.

Which of the following is not a characteristic of the normal distribution?

Which of the following is not one of the charts or tables provided by RSPE?

A probability distribution shows the relative likelihood of observing any particular value.

The sensitivity chart in RSPE indicates the increase in the results cell per unit increase in the uncertain variable cell.

RSPE is guaranteed to find the optimal solution to a simulation problem.

One way to ensure that Analytic Solver identifies an optimal solution quickly is to do which of the following? I. Set the "Max Time without Improvement" setting to zero. II. Add bounds for the decision variables. III. Add integer constraints to the model.

When applying simulation to an inventory problem, which of the following would be an uncertain variable cell?

A danger of using the lognormal distribution is that values can fall below zero.

The negative binomial distribution describes the number of trials until an event occurs n times.

RSPE can be used to fit a discrete distribution to data.

The geometric distribution describes the number of times an event occurs in a fixed number of trials.

The distribution shown below is most likely which of the following?

The exponential distribution has a most likely value that is equal to

A grocery chain has decided to reduce the price of milk to encourage customers to purchase higher quantities. This is an example of revenue management.

Which of the following is not a characteristic of the lognormal distribution?

Increasing the number of trials increases the accuracy of a simulation.

A danger of using the normal distribution is that values can fall below zero.

Which of the following distributions is widely used to describe the time between random events?

The normal distribution is always a symmetric distribution.

Introduction

Linear Programming: Basic Concepts

Linear Programming: Formulation and Applications

The Art of Modeling With Spreadsheets

What-If Analysis for Linear Programming

Network Optimization Problems

Using Binary Integer Programming to Deal With Yes-Or-No Decisions

Nonlinear Programming

Decision Analysis

Forecasting

Queueing Models

Computer Simulation: Basic Concepts

Filters