Mathematics
Mathematics
Mid Term
1.Deterministic techniques assume that no uncertainty exists in model parameters.
Answer
[removed]True
[removed]False
2. An inspector correctly identifies defective products 90% of the time. For the next 10 products, the probability that he makes fewer than 2 incorrect inspections is 0.736.
Answer
[removed]True
[removed]False
3. A continuous random variable may assume only integer values within a given interval.
Answer
[removed]True
[removed]False
4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.
Answer
[removed]True
[removed]False
5. Question 5
Excel can only be used to simulate systems that can be represented by continuous random variables.
Answer
[removed]True
[removed]False
Question 6
Starting conditions have no impact on the validity of a simulation model.
Answer
[removed]True
[removed]False
Question 7
Data cannot exhibit both trend and cyclical patterns.
Answer
[removed]True
[removed]False
Question 8
Qualitative methods are the least common type of forecasting method for the longterm strategic planning process.
Answer
[removed]True
[removed]False
Question 9
Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. What time is exceeded by approximately 75% of the college students when trying to find a parking spot in the main parking lot?
Answer
[removed]  3.7 minutes  
[removed]  5.8 minutes  
[removed]  6.4 minutes  
[removed]  9.2 minutes


Question 10 __________ is a measure of dispersion of random variable values about the expected value. Answer
Question 11 The __________ is the expected value of the regret for each decision. Answer
Question 12 Developing the cumulative probability distribution helps to determine Answer
Question 13 Two hundred simulation runs were completed using the probability of a machine breakdown from the table below. The average number of breakdowns from the simulation trials was 1.93 with a standard deviation of 0.20.
What is the probability of 2 or fewer breakdowns? Answer
Question 14 Random numbers generated by a __________ process instead of a __________ process are pseudorandom numbers. Answer
Question 15 Consider the following frequency of demand: If the simulation begins with 0.8102, the simulated value for demand would be Answer
Question 16 __________ is a category of statistical techniques that uses historical data to predict future behavior. Answer
Question 17 Given the following data on the number of pints of ice cream sold at a local ice cream store for a 6period time frame: If the forecast for period 5 is equal to 275, use exponential smoothing with α = .40 to compute a forecast for period 7. Answer
Question 18 Which of the following possible values of alpha would cause exponential smoothing to respond the most slowly to sudden changes in forecast errors? Answer
Question 19 __________ is the difference between the forecast and actual demand. Answer
Question 20 In exponential smoothing, the closer alpha is to __________, the greater the reaction to the most recent demand. Answer
Question 21 Consider the following demand and forecast.
If MAD = 2, what is the forecast for period 4? Answer
Question 22 __________ is absolute error as a percentage of demand. Answer
Question 23 Coefficient of determination is the percentage of the variation in the __________ variable that results from the __________ variable. Answer
Question 24 Consider the following graph of sales. Which of the following characteristics is exhibited by the data? Answer
