Question 1 5 out of 5 points ___________ is a technique for selecting numbers randomly from a probability distribution. Question 2 5 out of 5 points Monte Carlo is a technique for selecting numbers randomly from a probability distribution. Question 3 5 out of 5 points Analogue simulation replaces a physical system with an analogous physical system that is _____________ to manipulate. Question 4 5 out of 5 points Variable costs are independent of volume and remain constant. Question 5 5 out of 5 points Regret is the difference between the payoff from the best decision and all other decision payoffs. Question 6 5 out of 5 points The maximin criterion results in the Question 7 5 out of 5 points A payoff table is a means of organizing a decision situation, including the payoffs from different decisions given the various states of nature. Question 8 5 out of 5 points In a weighted moving average, weights are assigned to most __________ data. Question 9 5 out of 5 points The maximin criterion results in the maximum of the minimum payoffs. Question 10 5 out of 5 points A state of nature is an actual event that may occur in the future. Question 11 5 out of 5 points Which of the following is not an alternative name for management science? Question 12 5 out of 5 points A _________ period of real time is represented by a __________ period of simulated time. Question 13 5 out of 5 points Simulation results will not equal analytical results unless ___________ trials of the simulation have been conducted to reach steady state. Question 14 5 out of 5 points The minimax regret criterion Question 15 5 out of 5 points Objective probabilities that can be stated prior to the occurrence of an event are Question 16 5 out of 5 points Which of the following is incorrect with respect to the use of models in decision making? Question 17 5 out of 5 points The steps of the scientific method are: Question 18 5 out of 5 points A seasonal pattern is an up-and-down repetitive movement within a trend occurring periodically. Question 19 0 out of 5 points The maximax criterion results in the Question 20 5 out of 5 points ____________ techniques include uncertainty and
assume that there can be more than one model solution. Question 21 5 out of 5 points The maximax criterion results in the maximum of the minimum payoffs. Question 22 5 out of 5 points Regret is the difference between the payoff from the Question 23 5 out of 5 points A long period of real time is represented by a short period of simulated time. Question 24 5 out of 5 points A trend is a gradual, long-term, up or down movement of demand. Question 25 5 out of 5 points ____________ use management judgment, expertise, and opinion to make forecasts. Question 26 5 out of 5 points ____________ moving averages react more slowly to recent demand changes than do ____________ moving averages. Question 27 5 out of 5 points In computer mathematical simulation a system is replicated with a mathematical model that is analyzed Question 28 0 out of 5 points Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model? Question 29 5 out of 5 points Analogue simulation replaces a physical system with an analogous physical system that is easier to manipulate. Question 30 5 out of 5 points An experiment is an activity that results in one of several possible outcomes. Question 31 5 out of 5 points Random numbers are equally likely to occur. Question 32 5 out of 5 points An example of forecasting is Question 33 5 out of 5 points The ______________ minimizes the maximum regret. Question 34 5 out of 5 points ____________ is an up-and-down repetitive movement in demand. Question 35 5 out of 5 points It’s often ____________ to validate that the results of a simulation truly replicate reality. Question 36 0 out of 5 points A short period of real time is represented by a long period of simulated time. Question 37 5 out of 5 points In computer mathematical simulation, a system is replicated with a mathematical model that is analyzed with the computer. Question 38 5 out of 5 points A cycle is an up-and-down repetitive movement in demand. Question 39 5 out of 5 points Profit is the difference between total revenue and total cost. Question 40 5 out of 5 points A model is a functional relationship and include: