Deck 13: Computer Simulation With Analytic Solver

Question 1

The exponential distribution is widely used to describe the time between random events.

Answer 1

True

Question 2

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

Answer 2

False

Question 3

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

Answer 3

False

Question 4

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

Question 5

The distribution used for the uncertain variable cells is one of the options to be set in the Simulation Options in RSPE.

Question 6

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

Question 7

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

Question 8

The number of trials is one of the options to be set in RSPE.

Question 9

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

Question 10

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

Question 11

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

Question 12

The custom distribution in RSPE allows only discrete distributions to be entered.

Question 13

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

Question 14

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

Question 15

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

Question 16

The normal distribution is a good choice when all values within a range are equally likely.

Question 17

A results cell refers to a random input cell.

Question 18

The normal distribution has a fixed upper and lower bound.

Question 19

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

Question 20

The triangular distribution has a fixed upper and lower bound.

Question 21

If an analyst knows the minimum and maximum values possible for a parameter, the triangular distribution is a good choice for modeling.

Question 22

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

Question 23

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.

Question 24

Which of the following is not a step 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 25

If the mean value of a parameter is known, it is possible to use the normal distribution to model the parameter.

Question 26

The triangular distribution is always a symmetric distribution.

Question 27

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

Question 28

Computer simulations of project management problems often use a triangular distribution to represent the task durations in a project management problem.

Question 29

The use of different hotel rates for different classes of customers is known as revenue management.

Question 30

The normal distribution is always a symmetric distribution.

Question 31

Which of the following is a random input cell in RSPE?

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 32

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

Question 33

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

Question 34

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.

Question 35

RSPE cannot handle constraints in a simulation model.

Question 36

A central-tendency distribution is likely to have two separate peaks, indicating that two widely separated sets of values are equally likely.

Question 37

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

Question 38

The PERT method for project management assumes that task durations follow a triangular distribution.

Question 39

The PERT method for project management assumes that task durations follow a beta distribution.

Question 40

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

Question 41

Which of the following charts shows a histogram giving the relative frequency of the various output values in the forecast cell?

A) Frequency chart
B) Statistics table
C) Percentiles table
D) Cumulative frequency chart
E) Reverse cumulative chart

Question 42

Which of the following distributions describes the number of times an event occurs during a given period of time or space?

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

Question 43

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

A) It has a fixed minimum value
B) It has a fixed maximum value
C) Some value is the most likely
D) All of the answers choices are characteristic of the uniform distribution.
E) None of the answers choices is characteristic of the uniform distribution.

Question 44

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.

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

Question 45

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

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

Question 46

The cell that represents the output of a computer simulation is referred to as:

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 47

Which of the following is not a 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 48

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

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

Question 49

Which of the following distributions describes the number of times an event occurs in a fixed number of trials?

A) Binomial distribution
B) Geometric distribution
C) Negative binomial distribution
D) Poisson distribution
E) None of the answer choices is correct.

Question 50

When applying simulation to an inventory problem, which of the following is the most appropriate choice for the results cell?

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 51

Which of the following distributions describes the number of trials until an event occurs?

A) Binomial distribution
B) Geometric distribution
C) Negative binomial distribution
D) Poisson distribution
E) None of the answer choices is correct.

Question 52

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

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 53

Which of the following provide the mean, median, standard deviation, range, etc. for the results cell in RSPE?

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

Question 54

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

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

Question 55

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

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

Question 56

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

A) Some value is the most likely.
B) Values close to the most likely value are more common.
C) The most likely value is the mean.
D) It can be asymmetric.
E) It has a fixed upper and lower bound.

Question 57

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

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 58

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

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.

Question 59

Which of the following distributions describes the number of trials until an event occurs n times?

A) Binomial distribution
B) Geometric distribution
C) Negative binomial distribution
D) Poisson distribution
E) None of the answer choices is correct.

Question 60

The sensitivity chart conveys which of the following?

A) The relative frequency of various results cell values
B) The increase in profit per unit increase in an uncertain variable cell
C) It indicates how strongly various uncertain variable cells influence the results cell
D) The mean profit
E) None of the answer choices is correct.

Question 61

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?
$\begin{array}{|c|c|}\hline \text { Daily Sales } & \text { Probability } \\\hline 100 & 0.40 \\\hline 200 & 0.05 \\\hline 300 & 0.50 \\\hline 400 & 0.05 \\\hline\end{array}$

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

Question 62

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.

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

Question 63

Which of the following distributions would be most appropriate for modeling the number of students found in a small classroom?

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

Question 64

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

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

Question 65

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

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

Question 66

Which of the following distributions is positively skewed?
I) Normal distribution
II) Uniform distribution
III) Lognormal distribution
IV) Exponential distribution

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

Question 67

Which of the following is a discrete distribution?

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

Question 68

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

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 69

Which of the following distributions is not skewed?
I) Normal distribution
II) Uniform distribution
III) Lognormal distribution
IV) Exponential distribution

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

Question 70

Which of the following distributions has a fixed minimum and maximum?
I) Normal distribution
II) Triangular distribution
III) Lognormal distribution
IV) Exponential distribution

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

Question 71

Which of the following distributions has a fixed minimum and maximum?
I) Normal distribution
II) Uniform distribution
III) Lognormal distribution
IV) Exponential distribution

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

Question 72

The RSPE Solver can be used to simultaneously optimize up to how many decision variables?

A) 1
B) 2
C) 3
D) 4
E) Many decision variables can be optimized simultaneously.

Question 73

Which of the following is NOT a continuous distribution?

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

Question 74

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

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

Question 75

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

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 76

Which of the following is NOT a central-tendency distribution?

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

Question 77

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

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