MAT 540 Week 6, Midterm Exam

MAT 540 Week 6, Midterm Exam

Question



Question 1
5 out of 5 points

___________ is a technique for selecting numbers randomly from a probability distribution.


Question 2
5 out of 5 points

Monte Carlo is a technique for selecting numbers randomly from a probability distribution.


Question 3
5 out of 5 points

Analogue simulation replaces a physical system with an analogous physical system that is _____________ to manipulate.


Question 4
5 out of 5 points

Variable costs are independent of volume and remain constant.


Question 5
5 out of 5 points

Regret is the difference between the payoff from the best decision and all other decision payoffs.

Question 6
5 out of 5 points

The maximin criterion results in the


Question 7
5 out of 5 points

A payoff table is a means of organizing a decision situation, including the payoffs from different decisions given the various states of nature.

Question 8
5 out of 5 points

In a weighted moving average, weights are assigned to most __________ data.


Question 9
5 out of 5 points

The maximin criterion results in the maximum of the minimum payoffs.


Question 10
5 out of 5 points

A state of nature is an actual event that may occur in the future.


Question 11
5 out of 5 points

Which of the following is not an alternative name for management science?


Question 12
5 out of 5 points

A _________ period of real time is represented by a __________ period of simulated time.


Question 13
5 out of 5 points

Simulation results will not equal analytical results unless ___________ trials of the simulation have been conducted to reach steady state.


Question 14
5 out of 5 points

The minimax regret criterion


Question 15
5 out of 5 points

Objective probabilities that can be stated prior to the occurrence of an event are

Question 16
5 out of 5 points

Which of the following is incorrect with respect to the use of models in decision making?


Question 17
5 out of 5 points

The steps of the scientific method are:


Question 18
5 out of 5 points

A seasonal pattern is an up-and-down repetitive movement within a trend occurring periodically.

Question 19
0 out of 5 points

The maximax criterion results in the


Question 20
5 out of 5 points

____________ techniques include uncertainty and assume that there can be more than one model solution.


Question 21
5 out of 5 points

The maximax criterion results in the maximum of the minimum payoffs.


Question 22
5 out of 5 points

Regret is the difference between the payoff from the


Question 23
5 out of 5 points

A long period of real time is represented by a short period of simulated time.

Question 24
5 out of 5 points

A trend is a gradual, long-term, up or down movement of demand.


Question 25
5 out of 5 points

____________ use management judgment, expertise, and opinion to make forecasts.


Question 26
5 out of 5 points

____________ moving averages react more slowly to recent demand changes than do ____________ moving averages.


Question 27
5 out of 5 points

In computer mathematical simulation a system is replicated with a mathematical model that is analyzed


Question 28
0 out of 5 points

Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model?


Question 29
5 out of 5 points

Analogue simulation replaces a physical system with an analogous physical system that is easier to manipulate.

Question 30
5 out of 5 points

An experiment is an activity that results in one of several possible outcomes.


Question 31
5 out of 5 points

Random numbers are equally likely to occur.


Question 32
5 out of 5 points

An example of forecasting is


Question 33
5 out of 5 points

The ______________ minimizes the maximum regret.


Question 34
5 out of 5 points

____________ is an up-and-down repetitive movement in demand.


Question 35
5 out of 5 points

It's often ____________ to validate that the results of a simulation truly replicate reality.

Question 36
0 out of 5 points

A short period of real time is represented by a long period of simulated time.


Question 37
5 out of 5 points

In computer mathematical simulation, a system is replicated with a mathematical model that is analyzed with the computer.


Question 38
5 out of 5 points

A cycle is an up-and-down repetitive movement in demand.


Question 39
5 out of 5 points

Profit is the difference between total revenue and total cost.


Question 40
5 out of 5 points

A model is a functional relationship and include: