Triangular distributions - Study guides, Class notes & Summaries

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...

1. As the project manager, you have the option of proposing one of three systems to a client: a full-feature system that not only satisfies the minimum requirements but also offers numerous special functions (the "Mercedes"); a system that meets the client's minimum requirements (the "Yugo"); and a system that satisfies the minimum requirements plus has a few extra features (the "Toyota"). The on-time records and associated profits and losses are depicted on the below decision tree. What ...

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 ge...

Conditional probability is the probability of occurrence of one event 'A' given that another event 'B' is known to be true or already occurred. - ANSWERTrue Which of the following is true of normal distributions? - ANSWERThe mean, median, and mode are all equal. Probability is the likelihood that an outcome occurs. - ANSWERTrue The union of two events contains all outcomes that belong to either of the two events. - ANSWERTrue Conditional probability is the probability of ...

The process of developing good, useful, and correct spreadsheet models is known as spreadsheet engineering T/F - ANSWERTrue In predictive modeling, validity refers to how well a model represents reality T/F - ANSWERTrue Two-way data tables can evaluate only one output variable T/F - ANSWERTrue Models can capture every detail of a real problem T/F - ANSWERFalse Verification is the process of ensuring that a model is accurate and free from logical errors T/F - ANSWERTrue Excel...

TRUE or FALSE? Suppose that X1, X2,... is a stationary stochastic process with covariance function Rk = Cov(X1, X1+k), for k=0,1,... Then the variance of the sample mean can be represented as Var(X) = 1/n[Ro + 2(1-k/n)Rk] -Correct Answer TRUE TRUE or FALSE? If f(x, y) = cxy for all 0 < x < 1 and 1 < y < 2, where c is whatever value makes this thing integrate to 1, then X and Y are independent random variables. -Correct Answer TRUE. (Because f(x, y) = a(x)b(y) factors nicely, and t...

Which of the following is true of normal distributions? - Answer The Mean, median and mode are all equal Probability is the likelihood that an outcome occurs.T/F - Answer True The union of two events contains all outcomes that belong to either of the two events. T/F - Answer True Conditional probability is the probability of occurrence of one event 'A' given that another event 'B' is known to be true or has already occurred. T/F - Answer True A probability dis...

Hair design - Answer Art of dressing and arranging hair to create temporary changes in the form and texture Volume - Answer Mass of or fullness Indentation - Answer Hollowness Distribution - Answer The direction the hair is combed or dispersed over the curve of the head. Molding - Answer Shape, the hair refers to designing wet hair in straight or curved lines after the hair has been distritbuted to create pattern; can also serve as a design blueprint prior to setting ...

T/F: Probability is the likelihood that an outcome occurs. - ANSWERSTrue. T/F: The union of two events contains all outcomes that belong to either the two events. - ANSWERSTrue. T/F: Conditional probability is the probability of occurrence of one event 'A' given that another event 'B' is known to be true or has already occurred. - ANSWERSTrue. T/F: A probability distribution is the characterization of the possible values that a random variable may assume along with the proba...

Which of the following is true of normal distributions? - Answer The Mean, median and mode are all equal Probability is the likelihood that an outcome occurs.T/F - Answer True The union of two events contains all outcomes that belong to either of the two events. T/F - Answer True Conditional probability is the probability of occurrence of one event 'A' given that another event 'B' is known to be true or has already occurred. T/F - Answer True A probability distributio...