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S-Self Quiz from CD
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1

Managers can use simulation to obtain optimal answers for a wide range of problems.
A)True
B)False
2

Monte Carlo simulations are deterministic.
A)True
B)False
3

Simulation is especially useful for situations too complex to be analyzed using mathematical models.
A)True
B)False
4

Which of the following would not generally be listed as a reason for the popularity of simulation as a managerial tool?
A)Ability to provide optimal solutions
B)Useful as a training device
C)Ability to conduct experiments
D)Extensive software packages are available
E)All are reasons for its popularity
5

Given this frequency distribution, the random number, 22, would be interpreted as a demand of:


Demand

Frequency


0

38


1

22


2

22


3

18


A)0
B)1
C)2
D)1 or 2
E)3
6

The main reason that a large number of runs of a simulation would be made is:
A)It is a form of sampling, and large samples give more accurate results than small samples.
B)Computers are usually used, and they can easily handle large runs.
C)It is part of the scientific approach.
D)Large run sizes are more apt to provide optimal answers.
E)None of these.
7

Which of the following words does not characterize Monte Carlo?
A)random
B)chance
C)sampling
D)probabilistic
E)deterministic
8

Which of the following is a limitation of simulation?
A)It requires mathematically solvable problems.
B)It does not permit experimentation with system behavior.
C)It only indicates approximate behavior for given inputs.
D)It has little realism for training decision-makers.
E)all of the above





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