Deck 13: Computer simulation with risks olver platform

Question 1

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

Answer 1

False

Question 2

The normal distribution has a fixed upper and lower bound

Answer 2

False

Question 3

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

Answer 3

True

Question 4

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

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

Question 7

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

Question 8

The triangular distribution has a fixed upper and lower bound

Question 9

RSPE can be used to fit a continuous distribution to data

Question 10

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

Question 11

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

Question 12

A results cell refers to a random input cell

Question 13

Increasing the number of trials increases the accuracy of a simulation

Question 14

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

Question 15

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 16

RSPE can be used to fit a discrete distribution to data

Question 17

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

Question 18

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

Question 19

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

Question 20

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

Question 21

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 above
E)None of the above

Question 22

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 above are characteristic of the uniform distribution
E)None of the above are characteristic of the uniform distribution

Question 23

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 above
E)None of the above

Question 24

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 25

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 above are characteristic of the lognormal distribution

Question 26

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 above

Question 27

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 above

Question 28

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?

A)It does not need to make as many simplifying assumptions
B)It is more flexible about which probability distributions can be used
C)It provides a solution more quickly
D)All of the above
E)a and b only

Question 29

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 30

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

Question 31

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 32

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

Question 33

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 above

Question 34

RSPE can not handle constraints in a simulation model

Question 35

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

Question 36

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 above

Question 37

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 above

Question 38

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 above

Question 39

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 40

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 41

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 42

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 above

Question 43

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 44

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 above

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 above

Question 46

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 above

Question 47

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 above