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Business
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Management Science
Quiz 14: Simulation Cdrom Modules
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Question 1
True/False
Using simulation one should be able to find the optimal solution in a reasonable amount of computation time.
Question 2
True/False
For simple waiting line systems, simulation makes it easier to find the operating characteristics than waiting line theory.
Question 3
True/False
An advantage of simulation is that decision makers can see the effects of a policy over several years before making a decision.
Question 4
True/False
In simulation, several alternatives are evaluated and one chooses the best among the alternatives evaluated.
Question 5
True/False
Most practical applications of simulation can be solved using a paper and pencil approach.
Question 6
True/False
Probabilistic simulation is akin to sampling, each run representing one sample.
Question 7
True/False
In general, the higher the variation in the output values of parameters of interest in repeated runs, the smaller the number of runs needed to estimate the expected values of these parameters with a given confidence level.