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##### MAT 540 Week 6, Midterm Exam

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**Question**

Question;Question 1 5 out of 5 points___________ is a technique for selecting numbers randomly from a probability distribution.;Question 2 5 out of 5 pointsMonte Carlo is a technique for selecting numbers randomly from a probability distribution.Question 3 5 out of 5 pointsAnalogue simulation replaces a physical system with an analogous physical system that is _____________ to manipulate.;Question 4 5 out of 5 pointsVariable costs are independent of volume and remain constant.;Question 5 5 out of 5 pointsRegret is the difference between the payoff from the best decision and all other decision payoffs.Question 6 5 out of 5 pointsThe maximin criterion results in the;Question 7 5 out of 5 pointsA 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 pointsIn a weighted moving average, weights are assigned to most __________ data.;Question 9 5 out of 5 pointsThe maximin criterion results in the maximum of the minimum payoffs.;Question 10 5 out of 5 pointsA state of nature is an actual event that may occur in the future.;Question 11 5 out of 5 pointsWhich of the following is not an alternative name for management science?;Question 12 5 out of 5 pointsA _________ period of real time is represented by a __________ period of simulated time.;Question 13 5 out of 5 pointsSimulation results will not equal analytical results unless ___________ trials of the simulation have been conducted to reach steady state.;Question 145 out of 5 pointsThe minimax regret criterion;Question 15 5 out of 5 pointsObjective probabilities that can be stated prior to the occurrence of an event are;Question 16 5 out of 5 pointsWhich of the following is incorrect with respect to the use of models in decision making?;Question 17 5 out of 5 pointsThe steps of the scientific method are;Question 18 5 out of 5 pointsA seasonal pattern is an up-and-down repetitive movement within a trend occurring periodically.;Question 19 0 out of 5 pointsThe 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 pointsThe maximax criterion results in the maximum of the minimum payoffs.;Question 22 5 out of 5 pointsRegret is the difference between the payoff from the;Question 23 5 out of 5 pointsA long period of real time is represented by a short period of simulated time.;Question 24 5 out of 5 pointsA 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 pointsIn computer mathematical simulation a system is replicated with a mathematical model that is analyzed;Question 28 0 out of 5 pointsWhich of the following is an equation or an inequality that expresses a resource restriction in a mathematical model?;Question 29 5 out of 5 pointsAnalogue simulation replaces a physical system with an analogous physical system that is easier to manipulate.Question 30 5 out of 5 pointsAn experiment is an activity that results in one of several possible outcomes.;Question 31 5 out of 5 pointsRandom numbers are equally likely to occur.;Question 32 5 out of 5 pointsAn example of forecasting is;Question 33 5 out of 5 pointsThe ______________ 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 pointsIt's often ____________ to validate that the results of a simulation truly replicate reality.Question 36 0 out of 5 pointsA short period of real time is represented by a long period of simulated time.Question 37 5 out of 5 pointsIn computer mathematical simulation, a system is replicated with a mathematical model that is analyzed with the computer.;Question 38 5 out of 5 pointsA cycle is an up-and-down repetitive movement in demand.;Question 39 5 out of 5 pointsProfit is the difference between total revenue and total cost.;Question 40 5 out of 5 pointsA model is a functional relationship and include

Paper#50347 | Written in 18-Jul-2015

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