Question 1

The parameter analysis report in RSPE can be used to systematically investigate a set of values for a decision variable in a simulation model.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A)  Normal distribution 
B)  Triangular distribution 
C)  Lognormal distribution 
D)  Integer uniform distribution 
E)  Exponential distribution 
A)  Normal distribution 
B)  Triangular distribution 
C)  Lognormal distribution 
D)  Integer uniform distribution 
E)  Exponential distribution

Question 3

The more trials that are run, the lower the standard error will become.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A)  Normal distribution 
B)  Triangular distribution 
C)  Lognormal distribution 
D)  Integer uniform distribution 
E)  Exponential distribution 
A)  Normal distribution 
B)  Triangular distribution 
C)  Lognormal distribution 
D)  Integer uniform distribution 
E)  Exponential distribution

Question 5

The sensitivity chart in RSPE indicates how strongly various uncertain variable cells influence the results cell.

Accepted Answer

A) True 
 B)False

Question 6

The ride sharing firm Uber uses dynamic pricing, which results in higher fares during busy times and lower fares during less busy times. This is an example of revenue management.

Accepted Answer

A) True 
 B)False

Question 7

The relative likelihood of any particular value is given by the height of the distribution's

Accepted Answer

A)  central-tendency distribution. 
B)  probability density function. 
C)  cumulative density function. 
D)  most likely value. 
E)  standard deviation. 
A)  central-tendency distribution. 
B)  probability density function. 
C)  cumulative density function. 
D)  most likely value. 
E)  standard deviation.

Question 8

A manager has observed sales for a number of days and developed the following table of probabilities. Which of the following distributions would be most appropriate for modeling the daily sales?
$\begin{array}{|c|c|}
\hline \text { Daily Sales } & \text { Probability } \
\hline 100 & 0.40 \
\hline 200 & 0.05 \
\hline 300 & 0.50 \
\hline 400 & 0.05 \
\hline
\end{array}$

Accepted Answer

A)  Normal distribution 
B)  Triangular distribution 
C)  Lognormal distribution 
D)  Integer uniform distribution 
E)  Custom discrete distribution 
A)  Normal distribution 
B)  Triangular distribution 
C)  Lognormal distribution 
D)  Integer uniform distribution 
E)  Custom discrete distribution

Question 9

For a distribution that is positively skewed, which of the following is TRUE?

Accepted Answer

A)  The mean and the standard deviation are equal. 
B)  The mean will be located to the right of the most likely value. 
C)  The mean will be located to the left of the most likely value. 
D)  All values are equally likely. 
E)  The mean and the most likely value will be the same. 
A)  The mean and the standard deviation are equal. 
B)  The mean will be located to the right of the most likely value. 
C)  The mean will be located to the left of the most likely value. 
D)  All values are equally likely. 
E)  The mean and the most likely value will be the same.

Question 10

Which chart indicates the trend in forecast values as a particular decision variable is varied?

Accepted Answer

A)  Frequency chart 
B)  Trend chart 
C)  Cumulative frequency chart 
D)  Statistics table 
E)  None of the answer choices is correct. 
A)  Frequency chart 
B)  Trend chart 
C)  Cumulative frequency chart 
D)  Statistics table 
E)  None of the answer choices is correct.

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is not a step required to perform a simulation with RSPE?

Accepted Answer

A)  Define the uncertain variable cells. 
B)  Define the results cells to forecast. 
C)  Set the simulation options. 
D)  Develop the spreadsheet model. 
E)  All are steps required to perform a simulation with RSPE. 
A)  Define the uncertain variable cells. 
B)  Define the results cells to forecast. 
C)  Set the simulation options. 
D)  Develop the spreadsheet model. 
E)  All are steps required to perform a simulation with RSPE.

Question 13

RSPE cannot handle constraints in a simulation model.

Accepted Answer

A) True 
 B)False

Question 14

The parameter analysis report can simultaneously vary up to how many different decision variables?

Accepted Answer

A)  1 
B)  2 
C)  3 
D)  4 
E)  Any number of decision variables. 
A)  1 
B)  2 
C)  3 
D)  4 
E)  Any number of decision variables.

Question 15

Which of the following are advantages of computer simulation over analytical methods like PERT/CPM for predicting the probability that a project will complete by a deadline?
I. It does not need to make as many simplifying assumptions.
II. It is more flexible about which probability distributions can be used.
III. It provides a solution more quickly.

Accepted Answer

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

Question 16

The standard error gives an indication of the accuracy of the estimated mean.

Accepted Answer

A) True 
 B)False

Question 17

The normal distribution has a fixed upper and lower bound.

Accepted Answer

A) True 
 B)False

Question 18

A distribution is chosen from the Distributions menu for which type of cell?

Accepted Answer

A)  An uncertain variable cell 
B)  A decision variable 
C)  A results cell 
D)  A statistic cell 
E)  None of the answer choices is correct. 
A)  An uncertain variable cell 
B)  A decision variable 
C)  A results cell 
D)  A statistic cell 
E)  None of the answer choices is correct.

Question 19

The normal distribution is popular because it accurately portrays the variation observed in natural phenomenon.

Accepted Answer

A) True 
 B)False

Question 20

The normal distribution is a good choice to represent the task durations in a project management problem.

Accepted Answer

A) True 
 B)False

The parameter analysis report in RSPE can be used to systematically investigate a set of values for a decision variable in a simulation model.

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

The more trials that are run, the lower the standard error will become.

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

The sensitivity chart in RSPE indicates how strongly various uncertain variable cells influence the results cell.

The ride sharing firm Uber uses dynamic pricing, which results in higher fares during busy times and lower fares during less busy times. This is an example of revenue management.

The relative likelihood of any particular value is given by the height of the distribution's

A manager has observed sales for a number of days and developed the following table of probabilities. Which of the following distributions would be most appropriate for modeling the daily sales? Daily Sales Probability 100 0.40 200 0.05 300 0.50 400 0.05

For a distribution that is positively skewed, which of the following is TRUE?

Which chart indicates the trend in forecast values as a particular decision variable is varied?

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

Which of the following is not a step required to perform a simulation with RSPE?

RSPE cannot handle constraints in a simulation model.

The parameter analysis report can simultaneously vary up to how many different decision variables?

The standard error gives an indication of the accuracy of the estimated mean.

The normal distribution has a fixed upper and lower bound.

A distribution is chosen from the Distributions menu for which type of cell?

The normal distribution is popular because it accurately portrays the variation observed in natural phenomenon.

The normal distribution is a good choice to represent the task durations in a project management problem.

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

The parameter analysis report in RSPE can be used to systematically investigate a set of values for a decision variable in a simulation model.

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

The more trials that are run, the lower the standard error will become.

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

The sensitivity chart in RSPE indicates how strongly various uncertain variable cells influence the results cell.

The ride sharing firm Uber uses dynamic pricing, which results in higher fares during busy times and lower fares during less busy times. This is an example of revenue management.

The relative likelihood of any particular value is given by the height of the distribution's

A manager has observed sales for a number of days and developed the following table of probabilities. Which of the following distributions would be most appropriate for modeling the daily sales? Daily Sales Probability 100 0.40 200 0.05 300 0.50 400 0.05

For a distribution that is positively skewed, which of the following is TRUE?

Which chart indicates the trend in forecast values as a particular decision variable is varied?

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

Which of the following is not a step required to perform a simulation with RSPE?

RSPE cannot handle constraints in a simulation model.

The parameter analysis report can simultaneously vary up to how many different decision variables?

The standard error gives an indication of the accuracy of the estimated mean.

The normal distribution has a fixed upper and lower bound.

A distribution is chosen from the Distributions menu for which type of cell?

The normal distribution is popular because it accurately portrays the variation observed in natural phenomenon.

The normal distribution is a good choice to represent the task durations in a project management problem.

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