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OMGT test 3 questions and answers
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OMGT test 3 questions and answers
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OMGT test 3 questions and answersBinary Data? - Answer-a variable with only 2 values -> 1/0; yes/no; success/failure
data whose unit can take on only two possible states, traditionally termed 0 and +1
What does simulation do? - Answer-tool used to help managers make better decisions;
simulation allows a problem solver to manipulate a process or system and observe how
the process or system reacts to changes in the underlying assumptions
can simulate just about anything - surgery, shape an airplane, etc.
validation and verification of a simulation must be completed
Difference between valid & Verified - Answer-Verification: make sure the computer
spreadsheet program used in the model is not flawed; checking and rechecking the
work
Validity: when it models what it is supposed to model
Discrete Data: - Answer-Arise from observations that can take only certain numerical
values; usually can be counted such as number of quarterly earnings reports submitted
or the number of machines on an assembly line.
Continuous data: - Answer-Numerical data that theoretically can measured in infinitely
small units.
Ex: profits, losses, time, distance, weight and height
What is the simplest form of a queuing system - Answer-the simplest form of a queuing
system is the single server waiting line system
Definition of Dichotomas data - Answer-Nominal but only has two categories
Ex: male/female
Know how to use =PsiNormal and =PsiTriangle - Answer-A triangular distribution is a
continuous probability distribution with a probability density function shaped like a
triangle. It is defined by three values: the minimum value a, the maximum value b, and
the peak value.
(PSI Triangular arguments (functions) min max avg)
What effects dependent & independent variables - Answer-Independent variables in a
simulation=predictors
Dependent variable = thing you are trying to estimate (uncertain variable)
floor / ceiling= min/ max
Know what Queue Discipline is - Answer-Queue discipline → the order in which the
customers are served
The forms of data pollution - Answer-inaccurate or missing data
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