______ 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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