Question 1

What are the advantages and disadvantages of simulation models?

Accepted Answer

Advantages: • It can be used to analyze

Question 2

Sam's hardware store has an order policy of ordering 12 gallons of a specific primer whenever 7 gallons are on hand (unless there's already an ordered delivery due).The store would like to see how well their policy works.Assume that beginning inventory in period 1 is 10 gallons and that orders are placed at the end of the week to be received one week later.(In other words,if an order is placed at the end of week one,it is available at the beginning of week 3.)Assume that if inventory is not on hand,it will result in a lost sale.The weekly demand distribution obtained from past sales is found in the table below.Also,use the random numbers that are provided and simulate 10 weeks' worth of sales.How many sales are lost?
   Random numbers for sales: 37,60,79,21,85,71,48,39,31,35

Accepted Answer

@#IMG-DLM& @#IMG-DLM& Over the 10 weeks

Question 3

A simulation model is designed to arrive at a single specific numerical answer to a given problem.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is NOT a disadvantage of simulation?

Accepted Answer

A) time compression 
B) good simulation models can take a long time to develop 
C) repetitive approach 
D) all input must be user generated 
E) All of these are disadvantages to simulation. 
A) time compression 
B) good simulation models can take a long time to develop 
C) repetitive approach 
D) all input must be user generated 
E) All of these are disadvantages to simulation.

Question 5

Provide a small example illustrating how random numbers are used in Monte Carlo simulation.

Accepted Answer

For example,demand can be 0,40% of the t

Question 6

Results of simulation experiments with large numbers of trials or long experimental runs will generally be better than those with fewer trials or shorter experimental runs.

Accepted Answer

A) True 
 B)False

Question 7

In most real-world inventory problems,lead time and demand vary in ways that make simulation a necessity because mathematical modeling is extremely difficult.

Accepted Answer

A) True 
 B)False

Question 8

Explain how Monte Carlo simulation uses random numbers.

Accepted Answer

First,a cumulative probability distribut

Question 9

"Time compression" and the ability to pose "what-if?" questions are elements of:

Accepted Answer

A) setting up a probability distribution for important variables. 
B) the disadvantages of simulation. 
C) physical simulations but not mathematical simulations. 
D) the advantages of simulation. 
E) the broad threefold idea of simulation. 
A) setting up a probability distribution for important variables. 
B) the disadvantages of simulation. 
C) physical simulations but not mathematical simulations. 
D) the advantages of simulation. 
E) the broad threefold idea of simulation.

Question 10

From a portion of a probability distribution,you read that P(demand = 0)is 0.25,and P(demand = 1)is 0.30.What are the random number intervals for this distribution beginning with 01?

Accepted Answer

A) 01 through 25,and 26 through 30 
B) 01 through 25,and 01 through 30 
C) 01 through 25,and 26 through 55 
D) 00 through 25,and 26 through 55 
E) 00 through 25,and 26 through 30 
A) 01 through 25,and 26 through 30 
B) 01 through 25,and 01 through 30 
C) 01 through 25,and 26 through 55 
D) 00 through 25,and 26 through 55 
E) 00 through 25,and 26 through 30

Question 11

One of the advantages of simulation is that:

Accepted Answer

A) managers must generate all of the conditions and constraints for solutions that they want to examine. 
B) it always generates a more accurate solution than a mathematical solution would. 
C) the policy changes may be tried without disturbing the real-life system. 
D) model development is less time consuming than for mathematical models. 
E) model solutions are transferable to a wide variety of problems. 
A) managers must generate all of the conditions and constraints for solutions that they want to examine. 
B) it always generates a more accurate solution than a mathematical solution would. 
C) the policy changes may be tried without disturbing the real-life system. 
D) model development is less time consuming than for mathematical models. 
E) model solutions are transferable to a wide variety of problems.

Question 12

Despite the powerful simulation software available today,good simulation models can take a long time to develop.

Accepted Answer

A) True 
 B)False

Question 13

________ is the attempt to duplicate the features,appearance,and characteristics of a real system,usually via a computerized model.

Accepted Answer

The answer of ________ is the attempt to duplicate the...

Question 14

What is the cumulative probability of selling 4 tires?

Accepted Answer

A) 1 
B) .5 
C) 10 
D) .2 
E) .25 
A) 1 
B) .5 
C) 10 
D) .2 
E) .25

Question 15

Which of the following is TRUE regarding simulation?

Accepted Answer

A) Small problems can be done by hand. 
B) Most simulations are computerized. 
C) Real-world complications can be included in simulation models. 
D) Simulation is most suitable where standard analytical models are too complex. 
E) All of the above are true. 
A) Small problems can be done by hand. 
B) Most simulations are computerized. 
C) Real-world complications can be included in simulation models. 
D) Simulation is most suitable where standard analytical models are too complex. 
E) All of the above are true.

Question 16

A distribution of service times at a waiting line indicates that service takes 12 minutes 30 percent of the time and 14 minutes 70 percent of the time.This distribution has been prepared for Monte Carlo analysis.The first four random numbers drawn are 07,60,77,and 49.What is the average service time of this simulation?

Accepted Answer

A) 12 minutes 
B) 13 minutes 
C) 13.5 minutes 
D) 14 minutes 
E) 54 minutes 
A) 12 minutes 
B) 13 minutes 
C) 13.5 minutes 
D) 14 minutes 
E) 54 minutes

Question 17

By starting random number intervals at 01,not 00,the top of each range is the cumulative probability.

Accepted Answer

A) True 
 B)False

Question 18

From a portion of a probability distribution,you read that P(demand = 0)is 0.05,P(demand = 1)is 0.10,and P(demand = 2)is 0.20.What are the two-digit random number intervals for this distribution beginning with 01?

Accepted Answer

A) 01 through 05,01 through 10,and 01 through 20 
B) 00 through 04,05 through 14,and 15 through 34 
C) 01 through 05,06 through 15,and 16 through 35 
D) 00 through 04,00 through 09,and 00 through 19 
E) 01 through 06,07 through 16,and 17 through 36 
A) 01 through 05,01 through 10,and 01 through 20 
B) 00 through 04,05 through 14,and 15 through 34 
C) 01 through 05,06 through 15,and 16 through 35 
D) 00 through 04,00 through 09,and 00 through 19 
E) 01 through 06,07 through 16,and 17 through 36

Question 19

The ________ method is a simulation technique that uses random elements when chance exists in their behavior.

Accepted Answer

The answer of The ________ method is a simulation technique...

Question 20

The effects of OM policies over many months or years can be obtained by computer simulation in a short time.This phenomenon is referred to as ________.

Accepted Answer

The answer of The effects of OM policies over many...

Exam 27: Simulation

What are the advantages and disadvantages of simulation models?

A simulation model is designed to arrive at a single specific numerical answer to a given problem.

Which of the following is NOT a disadvantage of simulation?

Provide a small example illustrating how random numbers are used in Monte Carlo simulation.

Results of simulation experiments with large numbers of trials or long experimental runs will generally be better than those with fewer trials or shorter experimental runs.

In most real-world inventory problems,lead time and demand vary in ways that make simulation a necessity because mathematical modeling is extremely difficult.

Explain how Monte Carlo simulation uses random numbers.

"Time compression" and the ability to pose "what-if?" questions are elements of:

From a portion of a probability distribution,you read that P(demand = 0)is 0.25,and P(demand = 1)is 0.30.What are the random number intervals for this distribution beginning with 01?

One of the advantages of simulation is that:

Despite the powerful simulation software available today,good simulation models can take a long time to develop.

________ is the attempt to duplicate the features,appearance,and characteristics of a real system,usually via a computerized model.

What is the cumulative probability of selling 4 tires?

Which of the following is TRUE regarding simulation?

By starting random number intervals at 01,not 00,the top of each range is the cumulative probability.

From a portion of a probability distribution,you read that P(demand = 0)is 0.05,P(demand = 1)is 0.10,and P(demand = 2)is 0.20.What are the two-digit random number intervals for this distribution beginning with 01?

The ________ method is a simulation technique that uses random elements when chance exists in their behavior.

The effects of OM policies over many months or years can be obtained by computer simulation in a short time.This phenomenon is referred to as ________.

Operations and Productivity

Operations Strategy in a Global Environment

Project Management

Forecasting

Design of Goods and Services

Managing Quality

Process Strategy

Capacity and Constraint Management

Location Strategies

Layout Strategies

Human Resources, job Design, and Work Measurement

Supply Chain Management

Inventory Management

Aggregate Planning and Sop

Material Requirements Planning Mrpand Erp

Short-Term Scheduling

Jit, tps, and Lean Operations

Maintenance and Reliability

Sustainability in the Supply Chain

Statistical Process Control

Supply Chain Management Analytics

Decision-Making Tools

Linear Programming

Transportation Models

Waiting-Line Models

Learning Curves

Filters