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Business
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Introduction to Management Science
Exam 12: Computer Simulation: Basic Concepts
Path 4
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Question 61
True/False
A simulation model is validated if it adequately depicts real system performance.
Question 62
Multiple Choice
You are reviewing a simulation model and find that the analyst who prepared the model used the formula =
NORM.INV(RAND()
,50,3) to generate the cost of a product. Which of the following assumptions did the analyst make about the product cost? I. The minimum cost is 50. II. The average (mean) cost is 50. III. The cost is uniformly distributed.
Question 63
True/False
A Data Table can be used to "trick" Excel to perform many replications of a computer simulation.
Question 64
Multiple Choice
Which of the following would not be considered a main advantage of simulation?
Question 65
True/False
Computer simulation is a useful tool because it generates accurate information using very small samples.
Question 66
Multiple Choice
You have been asked to simulate the process of "flipping" two identical, unbiased coins. What is the probability of the outcome where one coin is heads and the other is tails? (Hint: Once the coins are flipped it is impossible to tell which is which.)
Question 67
Multiple Choice
Which of the following is not a reason for simulation's popularity?
Question 68
Multiple Choice
Which of the following can be used for computer simulation?
Question 69
Multiple Choice
In a model of a stochastic system, the simulation clock is mainly used to
Question 70
True/False
Simulation models are fairly easy to use and understand; therefore they can be used for a wide range of decisions.
Question 71
Multiple Choice
You have been asked to simulate the process of "flipping" two identical, unbiased coins. How many possible outcomes exist for this process? (Hint: Once the coins are flipped it is impossible to tell which is which.)