T/F: as Monte Carlo simulation is essentially statistical sampling, the larger the number of trials used, the more precise the results. - ANSWERSTrue
T/F: Uniform or triangular distributions are used in the absence of data. - ANSWERSTrue
T/F: Risk analysis seeks to examine the impact of uncer...
T/F: as Monte Carlo simulation is essentially statistical sampling, the larger the number of trials used, the
more precise the results. - ANSWERSTrue
T/F: Uniform or triangular distributions are used in the absence of data. - ANSWERSTrue
T/F: Risk analysis seeks to examine the impact of uncertain inputs on various outputs. - ANSWERSTrue
a binding constraint is one for which the Cell Value is greater than the right-hand side of the value of the
constraint - ANSWERSFalse
infeasible problems can occur when the demand requirement is higher than the available capacity -
ANSWERStrue
there are 3 types of optimisation models: linear, integer, and nonlinear - ANSWERStrue
decision variables in an optimisation model are "known" values - ANSWERSFalse
constraints are limitations, requirements, or other restrictions that are imposed on any solution, either
from practical of technological considerations or by management policy - ANSWERSTrue
simple bounds contain the value of multiple variables – ANSWERSFalse
T/F: In the context of simulation, random numbers are numbers that are uniformly distributed between
0 and 9. - ANSWERSFalse
T/F: A value randomly generated from a specified probability distribution is called a random variate. -
ANSWERSTrue
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