Question 1

A simulation is "Monte Carlo" when the elements of a system being simulated exhibit chance in their behavior.

Accepted Answer

A) True 
 B)False

Question 2

Simulation allows managers to test the effects of major policy decisions on real-life systems without disturbing the real system.

Accepted Answer

A) True 
 B)False

Question 3

One reason for using simulation rather than an analytical model in an inventory problem is that the simulation is able to handle probabilistic demand and lead times.

Accepted Answer

A) True 
 B)False

Question 4

A distribution of service times at a waiting line indicates that service takes 6 minutes 30 percent of the time,7 minutes 40 percent of the time,8 minutes 20 percent of the time,and 9 minutes 10 percent of the time.In preparing this distribution for Monte Carlo analysis,the service time of 8 minutes would be represented by what random number range?

Accepted Answer

A) 20 through 40 
B) 21 through 40 
C) 70 through 90 
D) 71 through 90 
E) 01 through 20 
A) 20 through 40 
B) 21 through 40 
C) 70 through 90 
D) 71 through 90 
E) 01 through 20

Question 5

Define simulation.

Accepted Answer

Simulation is the attempt to d

Question 6

One of the disadvantages of simulation is that it:

Accepted Answer

A) does not allow for very complex problem solutions. 
B) is not very flexible. 
C) is a repetitive approach that may produce different solutions in different runs. 
D) is very limited in the type of probability distributions that can be used. 
E) interferes with the production systems while the program is being run. 
A) does not allow for very complex problem solutions. 
B) is not very flexible. 
C) is a repetitive approach that may produce different solutions in different runs. 
D) is very limited in the type of probability distributions that can be used. 
E) interferes with the production systems while the program is being run.

Question 7

The idea behind simulation is threefold: (1)to imitate a real-world situation mathematically,(2)then to study its properties and operating characteristics,and (3)finally to draw conclusions and make action decisions based on the results of the simulation.

Accepted Answer

A) True 
 B)False

Question 8

Complete the following table in preparation for a Monte Carlo simulation.The expected demand is 3.52.

Accepted Answer

@#IMG-DLM& Students should have only moderate diff

Question 9

A warehouse manager needs to simulate the demand placed on a product that does not fit standard models.The concept being measured is "demand during lead time," where both lead time and daily demand are variable.The historical record for this product suggests the following probability distribution.Convert this distribution into random number intervals.

Accepted Answer

The answer of A warehouse manager needs to simulate the...

Question 10

Random number intervals are based on cumulative probability distributions.

Accepted Answer

A) True 
 B)False

Question 11

One of the disadvantages of simulation is that it:

Accepted Answer

A) does not allow for very complex problem solutions. 
B) is not very flexible. 
C) may be very time-consuming to develop. 
D) is very limited in the type of probability distributions that can be used. 
E) interferes with the production system while the program is being run. 
A) does not allow for very complex problem solutions. 
B) is not very flexible. 
C) may be very time-consuming to develop. 
D) is very limited in the type of probability distributions that can be used. 
E) interferes with the production system while the program is being run.

Question 12

From a portion of a probability distribution,you read that P(demand = 0)is 0.05 and P(demand = 1)is 0.10.The cumulative probability for demand = 1 would be which of the following?

Accepted Answer

A) 0.05 
B) 0.075 
C) 0.10 
D) 0.15 
E) 0.005 
A) 0.05 
B) 0.075 
C) 0.10 
D) 0.15 
E) 0.005

Question 13

Simulation may be capable of producing a more appropriate answer to a complex problem than can be obtained from a mathematical model.

Accepted Answer

A) True 
 B)False

Question 14

Setting up a probability distribution,building a cumulative probability distribution,and generating random numbers are:

Accepted Answer

A) necessary when the underlying probability distribution is normal. 
B) three of the five steps in Monte Carlo simulation. 
C) elements of physical simulation but not mathematical simulation. 
D) the elements of the threefold idea behind simulation. 
E) advantages of simulation. 
A) necessary when the underlying probability distribution is normal. 
B) three of the five steps in Monte Carlo simulation. 
C) elements of physical simulation but not mathematical simulation. 
D) the elements of the threefold idea behind simulation. 
E) advantages of simulation.

Question 15

Historical records on a certain product indicate the following behavior for demand.The data represent the 288 days that the business was open during 2000.Convert these data into random number intervals.(Round each probability used to 2 decimal places,e.g.,0.36)

Accepted Answer

The answer of Historical records on a certain product indicate...

A simulation is "Monte Carlo" when the elements of a system being simulated exhibit chance in their behavior.

Simulation allows managers to test the effects of major policy decisions on real-life systems without disturbing the real system.

One reason for using simulation rather than an analytical model in an inventory problem is that the simulation is able to handle probabilistic demand and lead times.

Define simulation.

One of the disadvantages of simulation is that it:

The idea behind simulation is threefold: (1)to imitate a real-world situation mathematically,(2)then to study its properties and operating characteristics,and (3)finally to draw conclusions and make action decisions based on the results of the simulation.

Complete the following table in preparation for a Monte Carlo simulation.The expected demand is 3.52.

Random number intervals are based on cumulative probability distributions.

One of the disadvantages of simulation is that it:

From a portion of a probability distribution,you read that P(demand = 0)is 0.05 and P(demand = 1)is 0.10.The cumulative probability for demand = 1 would be which of the following?

Simulation may be capable of producing a more appropriate answer to a complex problem than can be obtained from a mathematical model.

Setting up a probability distribution,building a cumulative probability distribution,and generating random numbers are:

Historical records on a certain product indicate the following behavior for demand.The data represent the 288 days that the business was open during 2000.Convert these data into random number intervals.(Round each probability used to 2 decimal places,e.g.,0.36)

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

Exam 27: Simulation

A simulation is "Monte Carlo" when the elements of a system being simulated exhibit chance in their behavior.

Simulation allows managers to test the effects of major policy decisions on real-life systems without disturbing the real system.

One reason for using simulation rather than an analytical model in an inventory problem is that the simulation is able to handle probabilistic demand and lead times.

Define simulation.

One of the disadvantages of simulation is that it:

The idea behind simulation is threefold: (1)to imitate a real-world situation mathematically,(2)then to study its properties and operating characteristics,and (3)finally to draw conclusions and make action decisions based on the results of the simulation.

Complete the following table in preparation for a Monte Carlo simulation.The expected demand is 3.52.

Random number intervals are based on cumulative probability distributions.

One of the disadvantages of simulation is that it:

From a portion of a probability distribution,you read that P(demand = 0)is 0.05 and P(demand = 1)is 0.10.The cumulative probability for demand = 1 would be which of the following?

Simulation may be capable of producing a more appropriate answer to a complex problem than can be obtained from a mathematical model.

Setting up a probability distribution,building a cumulative probability distribution,and generating random numbers are:

Historical records on a certain product indicate the following behavior for demand.The data represent the 288 days that the business was open during 2000.Convert these data into random number intervals.(Round each probability used to 2 decimal places,e.g.,0.36)

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