Question 51) According to Table 13-5, which presents a summary of th

51) According to Table 13-5, which presents a summary of the Monte Carlo output from a simulation of 200 runs, there are 5 possible values for the variable of concern. If this variable represents the number of machine breakdowns during a day, what is the probability that the number of breakdowns is more than 4?

A) 0

B) 0.08

C) 0.09

D) 1.00

E) None of the above

52) According to Table 13-5, which presents a summary of the Monte Carlo output from a simulation of 200 runs, there are 5 possible values for the variable of concern. If random numbers between 01 and 100 are used to generate values, then a random draw of 72 would produce a variable value of

A) 0.

B) 1.

C) 2.

D) 3.

E) 4.

53) Which of the following represents the primary reason simulation cannot be used for the classic EOQ model?

A) too many parameters involved

B) too many decision variables

C) EOQ models are probabilistic

D) EOQ models are deterministic

E) None of the above

54) Which of the following variables are probabilistic in an inventory model that requires simulation?

A) demand only

B) lead time only

C) holding cost only

D) Both A and B

E) A, B, and C

55) Which of the following scenarios would require simulation for a queuing model?

A) Poisson arrival process

B) exponential service time

C) deterministic arrival process

D) deterministic service time

E) None of the above

56) Simulation models can be broken down into which of the following three categories?

A) Monte Carlo, queuing, and inventory

B) queuing, inventory, and maintenance policy

C) Monte Carlo, operational gaming, systems simulation

D) inventory, systems simulation, and operational gaming

E) None of the above

57) Which of the following is not considered one of the 5 steps of Monte Carlo Simulation?

A) establishing probability distributions for important input variables

B) generating random number

C) building a cumulative probability distribution for each input variable

D) establishing an objective function

E) simulating a series of trials

58) The logic in a simulation model is presented graphically through which of the following?

A) scatterplot

B) flowchart

C) blueprint

D) decision tree

E) None of the above

59) The use of simulations in competitive situations is called

A) Monte Carlo simulation.

B) systems simulation.

C) operational gaming.

D) virtual reality.

E) None of the above

60) The process of comparing a model to the real system that it represents to make sure it is accurate is called

A) validation.

B) verification.

C) simulation.

D) experimentation.

E) None of the above

61) The process of determining that the computer model is internally consistent and following the logic of the conceptual model is called

A) validation.

B) verification.

C) simulation.

D) experimentation.

E) None of the above

62) The number of cars arriving at a self-service gasoline station during the last 50 hours of operation are as follows:

# of Cars Arriving

Frequency

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