______ can be used to study the behavior of a system without the expensive alternative of actually building it.

Answer

Correct Answer:
Simulation

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______ is typically achieved through statistical analysis, and is the process of ensuring that the model is a reasonably robust and accurate reflection of the real-world system that is being studied.

Answer

Correct Answer:
Validation

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The ______ approach uses random numbers to represent key random variables such as demand, lead time, arrival rates, and services times.

Answer

Correct Answer:
Monte Carlo simulation

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______ includes the objectives of the simulation study, model assumptions, the input variables, the results, and the implications of the study.

Answer

Correct Answer:
Documentation

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______ is a popular step for companies to take when testing processes and solving problems.

Answer

Correct Answer:
Simulation

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______ is a flexible tool and can be quickly adapted as conditions in the problem environment change.

Answer

Correct Answer:
Simulation

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Developing complex simulation models can be time consuming and ______.

Answer

Correct Answer:
Difficult

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Developing complex simulation models can be time consuming and ______.

Answer

Correct Answer:
Expensive

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______ is the act of duplicating the operation of a real-world process or system over time.

Answer

Correct Answer:
Simulation

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Simulation models do not make restrictive ______ that typically do not hold in real world scenarios.

Answer

Correct Answer:
Assumptions

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Simulation models do not make restrictive ______ that typically do not hold in real world scenarios.

Answer

Correct Answer:
Assumptions

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Simulation enables managers to perform ______ analysis.

Answer

Correct Answer:
What-if

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Which of the following is not a key step in developing a simulation model?

Answer

Correct Answer:
Define the solution

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_____ involves testing alternative courses of action by choosing alternate models, and executing the simulation repeatedly as necessary.

Answer

Correct Answer:
Experimentation

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A method that uses search decision rules to find the appropriate combination of production and workforce levels that will minimize costs is known as

Answer

Correct Answer:
Simulation

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Random numbers is a sequence of numbers that is uniformly distributed over a defined interval or range

Answer

Correct Answer:
Random numbers

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The act of duplicating the operation of a real-world process or system over time using physical objects to replace the actual objects is known as

Answer

Correct Answer:
Physical simulation

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Monte Carlo simulation is a probabilistic simulation technique that involves selecting numbers randomly from a known probability distribution to be used in simulation trials

Answer

Correct Answer:
True

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Cumulative probability distribution is a distribution of probability values that shows that a random variable such as demand has a probability less than or equal to a specified value

Answer

Correct Answer:
True

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