T/F: as Monte Carlo simulation is essentially statistical sampling, the larger the number of trials used, the more precise the results. - ANSWER-True
T/F: Uniform or triangular distributions are used in the absence of data. - ANSWER-True
T/F: Risk analysis seeks to examine the impact of uncer...
MSIS 3223 - Ch 12 & 13 Quiz With
Correct Solutions
T/F: as Monte Carlo simulation is essentially statistical sampling, the larger the number
of trials used, the more precise the results. - ANSWER-True
T/F: Uniform or triangular distributions are used in the absence of data. - ANSWER-
True
T/F: Risk analysis seeks to examine the impact of uncertain inputs on various outputs. -
ANSWER-True
T/F: In the context of simulation, random numbers are numbers that are uniformly
distributed between 0 and 9. - ANSWER-False
T/F: A value randomly generated from a specified probability distribution is called a
random variate. - ANSWER-True
T/F: a constraint function is a function of the decision variables in the problem -
ANSWER-True
T/F: any solution that satisfies all constraints of a problem is called a feasible solution -
ANSWER-True
a binding constraint is one for which the Cell Value is greater than the right-hand side of
the value of the constraint - ANSWER-False
infeasible problems can occur when the demand requirement is higher than the
available capacity - ANSWER-true
balance constrains essentially state that input = output and ensure that the flow of
material or money is accounted for at locations or between time periods - ANSWER-true
T/F: in predictive modelling, verification refers to hw well a model represents reality -
ANSWER-false
T/F: Requirement involve the specifications of minimum levels of performance -
ANSWER-true
there are 3 types of optimisation models: linear, integer, and nonlinear - ANSWER-true
decision variables in an optimisation model are "known" values - ANSWER-False
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