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1
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The choice of the probability distribution for a random variable can be guided by
Select one:
a.
an objective function.
b.
historical data.
c.
likelihood factors.
d.
forecasting.
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The correct answer is:
historical data.
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2
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According to the ___________, the sum of independent random variables can be approximated by a
normal probability distribution.
Select one:
a.
discrete-event simulation method
b.
simulation optimization approach
c.
central limit theorem
d.
what-if analysis
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The correct answer is:
central limit theorem
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3
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Which of the following is true of simulation optimization using Analytic Solver Platform (ASP)?
Select one:
a.
It can be executed in a very short time.
b.
It is an iterative process.
c.
It is computationally simple and cheap.
d.
It guarantees an optimal solution.

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The correct answer is:
It is an iterative process.
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4
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A simulation model extends spreadsheet modeling by
Select one:
a.
using historical data to make predictions about future values and expected trends.
b.
replacing the use of single values for parameters with a range of possible values.
c.
extending the range of parameters for which solutions are computed.
d.
using real-time values for parameters from the application to formulate solutions.

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- Winter '10
- goldstein