POM 333 CH 15 Quiz

A major advantage of using simulation techniques is to be able to study the interactive effect of individual components/variables. True False

True

If, in a simple queuing or waiting line problem, we wish to know the maximum likely waiting time, or the maximum likely length of the line, we must use a simulation model. True False

True

One of the major advantages of simulation is "time compression," i.e., the ability to study in a relatively short period, activities that would, in reality, take place over a period of days, months, or even years. True False

True

Simulation of a business or process is generally performed by building a mathematical model to represent the process or system. True False

True

The Monte Carlo simulation is used with variables that are probabilistic. True False

True

The wider the variation among results produced by using different sets of random numbers, the longer we need to run the simulation to obtain reliable results. True False

True

There are three categories of simulation models: Monte Carlo, operational gaming, and systems simulation. True False

True

Validation relates to building the right model. True False

True

In assigning random numbers in a Monte Carlo simulation, a. it is important to use a normal distribution for all variables simulated. b. it is not important to assign probabilities to an exact range of random number intervals. c. it is important to develop a cumulative probability distribution. d. all of the above e. none of the above

c

The use of simulation in competitive situations such as military games and business games is known as ________. a. systems simulation b. normal method c. Monte Carlo method d. operational gaming

d