MAT 540 MIDTERM EXAM
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MAT 540 MIDTERM EXAM
1. Deterministic techniques assume that no uncertainty exists in model parameters.
2. A continuous random variable may assume only integer values within a given interval.
3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously.
4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.
5. A table of random numbers must be normally distributed and efficiently generated.
6. Starting conditions have no impact on the validity of a simulation model.
7. The Delphi develops a consensus forecast about what will occur in the future.
8. Qualitative methods are the least common type of forecasting method for the long-term strategic planning process.
9. Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. What time is exceeded by approximately 75% of the college students when trying to find a parking spot in the main parking lot?
10. __________ is a measure of dispersion of random variable values about the expected value.
11. The __________ is the maximum amount a decision maker would pay for additional information.
12. Developing the cumulative probability distribution helps to determine
13. Consider the following frequency of demand: If the simulation begins with 0.8102, the simulated value for demand would be
14. Pseudorandom numbers exhibit __________ in order to be considered truly random.
15. Two hundred simulation runs were completed using the probability of a machine breakdown from the table below. The average number of breakdowns from the simulation trials was 1.93 with a standard deviation of 0.20.
No. of breakdowns per week Probability Cumulative probability
0 .10 .10
1 .25 .35
2
MAT 540 MIDTERM EXAM
1. Deterministic techniques assume that no uncertainty exists in model parameters.
2. A continuous random variable may assume only integer values within a given interval.
3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously.
4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.
5. A table of random numbers must be normally distributed and efficiently generated.
6. Starting conditions have no impact on the validity of a simulation model.
7. The Delphi develops a consensus forecast about what will occur in the future.
8. Qualitative methods are the least common type of forecasting method for the long-term strategic planning process.
9. Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. What time is exceeded by approximately 75% of the college students when trying to find a parking spot in the main parking lot?
10. __________ is a measure of dispersion of random variable values about the expected value.
11. The __________ is the maximum amount a decision maker would pay for additional information.
12. Developing the cumulative probability distribution helps to determine
13. Consider the following frequency of demand: If the simulation begins with 0.8102, the simulated value for demand would be
14. Pseudorandom numbers exhibit __________ in order to be considered truly random.
15. Two hundred simulation runs were completed using the probability of a machine breakdown from the table below. The average number of breakdowns from the simulation trials was 1.93 with a standard deviation of 0.20.
No. of breakdowns per week Probability Cumulative probability
0 .10 .10
1 .25 .35
2