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. Starting conditions have no impact on the validity of a simulation model. 6. A table of random numbers must be normally distributed and efficiently generated 7. Data cannot exhibit both trend and cyclical patterns.
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. In Bayesian analysis, additional information is used to alter the __________ probability of the occurrence of an event. 11. The __________ is the expected value of the regret for each decision. 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. A seed value is a(n)
15. Random numbers generated by a __________ process instead of a __________ process are pseudorandom numbers. 16. __________ is a measure of the strength of the relationship between independent and dependent variables. 17. Consider the following graph of sales. Which of the following characteristics is exhibited by the data? 18. Given the following data on the number of pints of ice cream sold at a local ice cream store for a 6-period time frame: 19. Which of the following possible values...
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