SIMULATION EXAM 1QUESTIONS &
ANSWERS(RATED A+)
Harry Markowitz (one of the big wheels in simulation language development) won
his Nobel Prize for portfolio theory in 1990, though the work that earned him the
award was conducted much earlier in the 1950s. Who won the 1990 Prize with him?
You are allowed to look this one up. - ANSWERMerton Miller and William Sharpe
Which of the following times could be regarded as events? - ANSWERCustomers
arrive, Justin forgets a lyric, Justin sings wrong note, Customers depart
TRUE or FALSE? Customer waiting times are activities because these are typically
explicitly specified in the simulation. - ANSWERFALSE. Although activities are
indeed times of specified length,waiting times typically need to be calculated from
the sequence of customer arrival and service times | and so are not explicitly
specified beforehand.
TRUE or FALSE? The simulation clock time is a variable. - ANSWERTRUE
TRUE or FALSE? The simulation clock time always equals real time. -
ANSWERFALSE
Which scenarios are most apt for a steady-state analysis? - ANSWERScenarios that
deal with long-term phenomena
Ex. We investigate a production line that runs 24/7, we try to estimate the
unemployment rate 30 years from now
The Box-Muller method is used to generate what kind of random variable? -
ANSWERRandom Normal Variables
X and Y are independent if and only if... - ANSWERyou can write f(x ,y) = a(x)b(y)
with no funny limits
What is the most-important theorem in the universe? - ANSWERCentral Limit
Theorem
If U 1 and U 2 are i.i.d. Unif(0,1) random variables, what is the distribution of U 1 + U
2? Hints: (i) I may have mentioned this in class at some point; (ii) You may be able to
reason this out by looking at the distribution of the sum of two dice tosses; or (iii) You
can use something like Excel to simulate U 1 + U 2 many times and make a
histogram of the results. - ANSWERTraingular
Which steps are regarded as essential for a successful simulation study? -
ANSWERProblem formation, model validation, model verification, experimental
design, output analysis
ANSWERS(RATED A+)
Harry Markowitz (one of the big wheels in simulation language development) won
his Nobel Prize for portfolio theory in 1990, though the work that earned him the
award was conducted much earlier in the 1950s. Who won the 1990 Prize with him?
You are allowed to look this one up. - ANSWERMerton Miller and William Sharpe
Which of the following times could be regarded as events? - ANSWERCustomers
arrive, Justin forgets a lyric, Justin sings wrong note, Customers depart
TRUE or FALSE? Customer waiting times are activities because these are typically
explicitly specified in the simulation. - ANSWERFALSE. Although activities are
indeed times of specified length,waiting times typically need to be calculated from
the sequence of customer arrival and service times | and so are not explicitly
specified beforehand.
TRUE or FALSE? The simulation clock time is a variable. - ANSWERTRUE
TRUE or FALSE? The simulation clock time always equals real time. -
ANSWERFALSE
Which scenarios are most apt for a steady-state analysis? - ANSWERScenarios that
deal with long-term phenomena
Ex. We investigate a production line that runs 24/7, we try to estimate the
unemployment rate 30 years from now
The Box-Muller method is used to generate what kind of random variable? -
ANSWERRandom Normal Variables
X and Y are independent if and only if... - ANSWERyou can write f(x ,y) = a(x)b(y)
with no funny limits
What is the most-important theorem in the universe? - ANSWERCentral Limit
Theorem
If U 1 and U 2 are i.i.d. Unif(0,1) random variables, what is the distribution of U 1 + U
2? Hints: (i) I may have mentioned this in class at some point; (ii) You may be able to
reason this out by looking at the distribution of the sum of two dice tosses; or (iii) You
can use something like Excel to simulate U 1 + U 2 many times and make a
histogram of the results. - ANSWERTraingular
Which steps are regarded as essential for a successful simulation study? -
ANSWERProblem formation, model validation, model verification, experimental
design, output analysis
