MAT 540 Midterm Exam 1 1. Deterministic techniques assume that no uncertainty exists in model parameters. 2. A continuous random variable may assume only integer values within a given interval. 3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. 4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches 5. Starting conditions have no impact on the validity of a simulation

MAT 540 Midterm Exam 1 1. Deterministic techniques assume that no uncertainty exists in model parameters. 2. A continuous random variable may assume only integer values within a given interval. 3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. 4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches 5. Starting conditions have no impact on the validity of a simulation

MAT 540 Quantitative Methods 1. In an unbalanced transportation model, supply does not equal demand and one set of constraints uses ≤ signs. 2. In a transshipment problem, items may be transported from destination to destination and from source to source. 3. Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality. 4. A cycle is an up and down movement in demand that repeats itself in less than 1 year. 5. If we are solving a 0-1 integer programming proble

MAT 540 Final Exam 3 1. Which of the following could be a linear programming objective function? 2. Which of the following could not be a linear programming problem constraint? 3. Types of integer programming models are _____________. 4. The production manager for Beer etc. produces 2 kinds of beer: light (L) and dark (D). Two resources used to produce beer are malt and wheat. He can obtain at most 4800 oz of malt per week and at most 3200 oz of wheat per week respectively.

Final Exam 1 Part 1 An investor who writes standard call options against stock held in his or her portfolio is said to be selling what type of options? Suppose you believe that Basso Inc.'s stock price is going to increase from its current.

MAT 540 Final Exam 1). If we are solving a 0-1 integer programming problem, the constraint x1 = x2 is a conditional constraint. 2). In a total integer model, all decision variables have integer solution values. 3). In a transshipment problem, items may be transported from destination to destination and from source to source. 4). Validation of a simulation model occurs when the true steady state average results have been reached. 5). Excel can be used to simulate systems that can be

MAT 540 Midterm Exam 5 1. Deterministic techniques assume that no uncertainty exists in model parameters. 2. A continuous random variable may assume only integer values within a given interval. 3. 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. 4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.

MAT 540 Midterm Exam 4 1. Regret is the difference between the payoff from the best decision and all other decision payoffs. 2. Variable costs are independent of volume and remain constant. 3. Regret is the difference between the payoff from the 4 A _________ period of real time is represented by a __________ period of simulated time. 5. A seasonal pattern is an up-and-down repetitive movement within a trend occurring periodically 6. A trend is a gradual, long-term, up or down movement

MAT 540 Midterm Exam 3 1. Deterministic techniques assume that no uncertainty exists in model parameters. 2. A continuous random variable may assume only integer values within a given interval. 3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. 4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches. 5. A table of random numbers must be normally distributed and efficient

MAT 540 Midterm Exam 2 1. ___________ is a technique for selecting numbers randomly from a probability distribution. 2. Monte Carlo is a technique for selecting numbers randomly from a probability distribution. 3. Analogue simulation replaces a physical system with an analogous physical system that is _____________ to manipulate. 4. Variable costs are independent of volume and remain constant. 5. Regret is the difference between the payoff from the best decision and all other decision