QUESTION 1
1. A trend chart was produced by RSPE software and is shown below. Profit was
defined as the output variable. In reference to the chart below, which of the following
statements is true?
A total of 7 different simulations were run in preparing this report.
The shaded areas represent information about the frequency distribution
of profit outcomes.
The middle band of shaded area represents 75% of the observed
outcomes.
A total of 10% of the simulated profit values are outside of the combined
shaded area.
All of the above.
0.5 points
QUESTION 2
1. When choosing a probability distribution in an RSPE simulation, it is important to:
check the similarity between the input data and
the output data
use a trend chart to assess the validity of the
distribution
test continuous distributions if the sample data is
not discrete
run at least 1,000 simulation trials
carefully define the output cells
0.5 points
QUESTION 3
1. In order to generate more accurate results when using simulation:
use a continuous distribution instead of a
discrete distribution.
increase the number of replications.
increase the number of factors considered.
All of the above.
None of the above.
0.5 points
QUESTION 4
1. A trend chart was produced by RSPE software and is shown below. Profit was
defined as the output variable. In reference to the chart below, which of the following
statements is true?
An order quantity of 45 is the lowest risk option to select.
The best choice is an order quantity of 70 because the range of possible
outcomes is the greatest.
This study source was downloaded by 100000840946462 from CourseHero.com on 02-15-2022 18:37:46 GMT -06:00
https://www.coursehero.com/file/14423918/Quiz-2/
1. A trend chart was produced by RSPE software and is shown below. Profit was
defined as the output variable. In reference to the chart below, which of the following
statements is true?
A total of 7 different simulations were run in preparing this report.
The shaded areas represent information about the frequency distribution
of profit outcomes.
The middle band of shaded area represents 75% of the observed
outcomes.
A total of 10% of the simulated profit values are outside of the combined
shaded area.
All of the above.
0.5 points
QUESTION 2
1. When choosing a probability distribution in an RSPE simulation, it is important to:
check the similarity between the input data and
the output data
use a trend chart to assess the validity of the
distribution
test continuous distributions if the sample data is
not discrete
run at least 1,000 simulation trials
carefully define the output cells
0.5 points
QUESTION 3
1. In order to generate more accurate results when using simulation:
use a continuous distribution instead of a
discrete distribution.
increase the number of replications.
increase the number of factors considered.
All of the above.
None of the above.
0.5 points
QUESTION 4
1. A trend chart was produced by RSPE software and is shown below. Profit was
defined as the output variable. In reference to the chart below, which of the following
statements is true?
An order quantity of 45 is the lowest risk option to select.
The best choice is an order quantity of 70 because the range of possible
outcomes is the greatest.
This study source was downloaded by 100000840946462 from CourseHero.com on 02-15-2022 18:37:46 GMT -06:00
https://www.coursehero.com/file/14423918/Quiz-2/
