MAT 540 Week 6, Midterm Exam

 
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: