{"id":132111,"date":"2023-08-19T19:42:10","date_gmt":"2023-08-19T19:42:10","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/mat-540-week-6-midterm-exam\/"},"modified":"2023-08-19T19:42:10","modified_gmt":"2023-08-19T19:42:10","slug":"mat-540-week-6-midterm-exam","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/mat-540-week-6-midterm-exam\/","title":{"rendered":"Mat 540 week 6 midterm exam"},"content":{"rendered":"
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MAT 540 Week 6 Midterm Exam<\/span><\/p>\n

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\u00a01. __________ is a technique for selecting numbers randomly from a probability distribution.<\/span><\/p>\n

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2. Monte Carlo is a technique for selecting numbers randomly from a probability distribution. <\/span><\/p>\n

TRUE\/FALSE<\/span><\/p>\n

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3. Analogue simulation replaces a physical system with an analogous physical system that is _____________ to manipulate.<\/span><\/p>\n

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4. Variable costs are independent of volume and remain constant. \u00a0\u00a0TRUE\/FALSE<\/span><\/p>\n

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5. Regret is the difference between the payoff from the best decision and all other decision payoffs. \u00a0\u00a0TRUE\/FALSE<\/span><\/p>\n

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6. The maximin criterion results in the<\/span><\/p>\n

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7. A payoff table is a means of organizing a decision situation, including the payoffs from different decisions given the various states of nature. \u00a0\u00a0TRUE\/FALSE<\/span><\/p>\n

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8. In a weighted moving average, weights are assigned to most __________ data. <\/span><\/p>\n

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9. The maximin criterion results in the maximum of the minimum payoffs. \u00a0\u00a0TRUE\/FALSE<\/span><\/p>\n

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10. A state of nature is an actual event that may occur in the future. \u00a0\u00a0\u00a0TRUE\/FALSE<\/span><\/p>\n

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11. Which of the following is not an alternative name for management science?<\/span><\/p>\n

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12. A _________ period of real time is represented by a __________ period of simulated time.<\/span><\/p>\n

13. Simulation results will not equal analytical results unless ___________ trials of the simulation have been conducted to reach steady state.<\/span><\/p>\n

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14.The minimax regret criterion<\/span><\/p>\n

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15. Objective probabilities that can be stated prior to the occurrence of an event are<\/span><\/p>\n

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16. Which of the following is incorrect with respect to the use of models in decision making?<\/span><\/p>\n

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17. The steps of the scientific method are:<\/span><\/p>\n

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18. A seasonal pattern is an up-and-down repetitive movement within a trend occurring periodically.\u00a0\u00a0\u00a0 \u00a0TRUE\/FALSE<\/span><\/p>\n

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19. The maximax criterion results in the<\/span><\/p>\n

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20. ____________ techniques include uncertainty and assume that there can be more than one model solution.<\/span><\/p>\n

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21. The maximax criterion results in the maximum of the minimum payoffs. TRUE\/FALSE<\/span><\/p>\n

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22. Regret is the difference between the payoff from the<\/span><\/p>\n

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23. A long period of real time is represented by a short period of simulated time. TRUE\/FALSE<\/span><\/p>\n

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24 A trend is a gradual, long-term, up or down movement of demand.\u00a0\u00a0 TRUE\/FALSE<\/span><\/p>\n

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25. ____________ use management judgment, expertise, and opinion to make forecasts.<\/span><\/p>\n

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26. ____________ moving averages react more slowly to recent demand changes than do ____________ moving averages.<\/span><\/p>\n

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27. In computer mathematical simulation a system is replicated with a mathematical model that <\/span><\/p>\n

is analyzed.<\/span><\/p>\n

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28. Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model?<\/span><\/p>\n

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29. Analogue simulation replaces a physical system with an analogous physical system that is easier to manipulate.<\/span><\/p>\n

TRUE\/FALSE <\/span><\/p>\n

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30. An experiment is an activity that results in one of several possible outcomes.<\/span><\/p>\n

TRUE\/FALSE <\/span><\/p>\n

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31. Random numbers are equally likely to occur. <\/span><\/p>\n

TRUE\/FALSE <\/span><\/p>\n

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32. An example of forecasting is<\/span><\/p>\n

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33. The ______________ minimizes the maximum regret.<\/span><\/p>\n

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34. ____________ is an up-and-down repetitive movement in demand.<\/span><\/p>\n

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35. It’s often ____________ to validate that the results of a simulation truly replicate reality.<\/span><\/p>\n

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36. A short period of real time is represented by a long period of simulated time. <\/span><\/p>\n

TRUE\/FALSE <\/span><\/p>\n

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37. In computer mathematical simulation, a system is replicated with a mathematical model that is analyzed with the computer. <\/span><\/p>\n

TRUE\/FALSE <\/span><\/p>\n

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38. A cycle is an up-and-down repetitive movement in demand. <\/span><\/p>\n

TRUE\/FALSE <\/span><\/p>\n

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39. Profit is the difference between total revenue and total cost. <\/span><\/p>\n

TRUE\/FALSE <\/span><\/p>\n

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40. A model is a functional relationship and include:<\/span><\/p>\n

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\u00a0<\/span><\/span><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

MAT 540 Week 6 Midterm Exam \u00a0 \u00a0 \u00a01. __________ is a technique for selecting numbers randomly from a probability distribution. \u00a0 2. Monte Carlo is a technique for selecting numbers randomly from a probability distribution. TRUE\/FALSE \u00a0 3. Analogue simulation replaces a physical system with an analogous physical system that is _____________ to manipulate. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-132111","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/132111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=132111"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/132111\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=132111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=132111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=132111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}