Operations Management Study Set 1

Business

Quiz 13 :

Inventory Management

Quiz 13 :

Inventory Management

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The number of daily calls received by a help desk between the hours of 9:00 a.m. and 10:00 a.m. can be described by the following probability distributions: img Based on the distribution of calls above, the expected value, or average number of calls to the help desk between 9:00 a.m. and 10:00 a.m. is
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The ___ technique selects numbers randomly from a probability distribution for being used in a trial run of a simulation.
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An advantage of using a computer versus a manual approach, when performing a simulation, is that it often takes only seconds versus hours to reach a steady-state result.
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As a simulation model becomes more complex, using a computer application is virtually impossible.
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Simulation is a popular decision-making tool that provides a solution to any type of problem.
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After a sufficient number of simulation runs, a steady state results when the variable being investigated reaches an ___ value that remains constant.
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The weekly demand for a company's product follows the probability distribution below: img The expected value, or average, weekly demand is
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Simulation is the preferred technique for problems with random variables represented by the probability distributions.
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Simulation analysis is useful for operational problems that
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Because simulation is used to analyze probabilistic problems, it provides information that is used to make a decision versus an optimal solution.
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A random number's likelihood of being selected is based on a normal distribution.
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The number of daily calls received by a help desk between the hours of 9:00 a.m. and 10:00 a.m. can be described by the following probability distributions: img Use the following random numbers to simulate the number of calls to the help desk between 9:00 a.m. and 10:00 a.m. for the next five days: 39, 55, 18, 16, 70. If the first random number interval begins with 1, then the number of calls that would be simulated for day 3 is
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The Monte Carlo technique selects numbers randomly from a probability distribution for being used in a quantitative model.
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At a Walmart store, simulation can be used to analyze waiting lines at the check-out stands to determine the required staffing levels.
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Simulation is often viewed as the technique of last resort because it can be applied to situations when there is no applicable quantitative model.
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The weekly demand for a company's product follows the probability distribution below: img Use the following random numbers to simulate the product's demand for the next five weeks: 72, 27, 93, 17, 47. If the first random number interval begins with 1, then the total demand for the simulated five-week period is
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The weekly demand for a company's product follows the probability distribution below: img Use the following random numbers to simulate the product's demand for the next five weeks: 72, 27, 93, 17, 47. If the first random number interval begins with 1, then the average weekly demand for the simulated five-week period is
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Simulation analysis is the preferred method used at hospitals to determine the type of treatment a patient requires.
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The Monte Carlo technique is a mathematical model used within a simulation.
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A steady state results, when a simulation is repeated enough times that the random variable being investigated, reaches an average result that remains constant.
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