Deck 19: Supplement Operational Decision-Making Tools: Simulation

Question 1

The Monte Carlo technique is a type of simulation model.

Answer 1

False

Question 2

The weekly capacity measured in machine hours for a small machine shop follows the probability distribution shown below. Based on the probability distribution above,the expected value,or average hours of weekly capacity for the machine shop is

A)500 hours.
B)490 hours.
C)480 hours.
D)475 hours.

Answer 2

B

Question 3

The weekly capacity measured in machine hours for a small machine shop follows the probability distribution shown below. Use the following random numbers to simulate weekly capacity for the machine shop for the next five weeks: 93,31,71,8,6.
If the first random number interval begins with 0,then the estimated average capacity for the simulated five week period is

A)560.
B)520.
C)480.
D)400.

Answer 3

C

Question 4

At a Wal-Mart store,simulation can be used to determine the required staffing levels at check-out stands.

Question 5

Simulation is the preferred technique for problems with random variables represented by probability distributions.

Question 6

After a sufficient number of simulation runs,a steady state results when the variable being investigated reaches an _________ result that remains constant.

A)optimal
B)average
C)expected
D)estimated

Question 7

Simulation is often viewed as the technique of last resort because it can be applied to situations when there is no applicable quantitative model.

Question 8

Simulation analysis is useful for operational problems that

A)are easy to solve analytically.
B)can't be solved analytically.
C)require an optimal solution.
D)meet specific analytical criteria.

Question 9

The weekly demand for a company's product follows the probability distribution below. Use the following random numbers to simulate the product's demand for the next five weeks: 72,27,93,17,47.
If the first random number interval begins with 0 then the estimated average weekly demand for the simulated five week period is

A)137.50.
B)140.00.
C)142.50.
D)152.50.

Question 10

Simulation analysis is the preferred method used at hospitals to determine the type of treatment a patient requires.

Question 11

The ______________ technique selects numbers randomly from a probability distribution for use in a trial run of a simulation.

A)Computer World
B)Monaco
C)steady-state
D)None of these answer choices is correct.

Question 12

The weekly demand for a company's product follows the probability distribution below. The expected value,or average,weekly demand is

A)137.50.
B)142.50.
C)153.75.
D)165.75

Question 13

Because simulation is used to analyze probabilistic problems,it provides information that is used to make a decision versus an optimal solution.

Question 14

A steady state results when a simulation is repeated enough times that the random variable being investigated reaches the expected value or average demand.

Question 15

The Monte Carlo technique selects numbers randomly from a probability distribution for use in a quantitative model.

Question 16

A random number's likelihood of being selected is based on a uniform distribution.

Question 17

The weekly demand for a company's product follows the probability distribution below. Use the following random numbers to simulate the product's demand for the next five weeks: 72,27,93,17,47.
If the first random number interval begins with 0 then the estimated total demand for the simulated five week period is

A)700.
B)650.
C)625.
D)550.

Question 18

Simulation is a popular decision-making tool that can be applied to any type of problem.

Question 19

As a simulation model becomes more complex,using a computer application is the recommended approach.

Question 20

An advantage of using a computer versus a manual approach when performing a simulation is that it often takes only seconds versus hours to reach a steady-state result.

Question 21

The daily demand for a company's product follows the probability distribution below: Use the following random numbers to simulate the product's demand for the next five weeks: 72,27,93,17,47.
If the first random number interval begins with 1,then the estimated total demand for the simulated five week period is

A)200.
B)230.
C)250.
D)280.

Question 22

In what ways is simulation relevant to analyzing production problems?

Question 23

The daily demand for a company's product follows the probability distribution below. The expected value,or average,weekly demand is

A)41.50.
B)45.50.
C)47.75.
D)51.75

Question 24

What is simulation and why is it a popular decision-making tool?

Question 25

The daily demand for a company's product follows the probability distribution below: Use the following random numbers to simulate the product's demand for the next five weeks: 72,27,93,17,47.
If the first random number interval begins with 0,then the estimated average weekly demand for the simulated five week period is

A)40.
B)46.
C)50.
D)56.