Questions and Answers of Introduction To Management Science 13th

Does Fritz’s simulation model make any simplifying assumptions? Is it necessary for a simulation model to be a completely realistic representation of the real system?
When using animation to display a computer simulation in action, how are the key elements of the system represented?
Which values of ρ correspond to the servers having a manageable utilization factor that allows the system to reach a steady-state condition?
What procedure does Analytic Solver provide for helping to identify the best distribution to enter into an uncertain variable cell?
Did the simulation results obtained in this section determine how many reservations should be accepted for the flight under consideration?
What has Freddie the newsboy learned so far about what his order quantity should be?
What does choosing one of the custom distributions from the Distributions menu enable you to do?
What are the parameters of a binomial distribution?
What kind of chart is used to highlight where a project plan needs to be revised to best improve the chances of meeting the project deadline?
What is the significance of the standard error of the results from a computer simulation?
The binomial distribution gives the probability distribution of what?
What quantities appear in the uncertain variable cells of the spreadsheet model?
What needs to be done to identify the exact percentage of trials of a computer simulation of this spreadsheet model that will result in meeting the project completion deadline?
What are the key statistics provided by the statistics table when using Analytic Solver?
After a parameter analysis report has been used to narrow down the range of values of a decision variable that need to be considered, how can another parameter analysis report be used to better
Why is the uniform distribution sometimes a convenient choice for an uncertain variable cell?
What quantities appear in the results cells of the spreadsheet model for this problem?
Does computer simulation indicate a significant chance of incurring a loss if Think-Big management approves the investment proposal?
What quantity appears in the results cell of the spreadsheet model for this example?
What kind of information is provided by a frequency chart when using Analytic Solver?
What kind of information is summarized by the bands in a trend chart?
How does the lognormal distribution compare with the normal and triangular distributions?
What is the decision variable for this problem?
What quantity appears in the results cell for this example?
What can be done to quickly enter these parameters into all the uncertain variable cells after using the dialog box for the distribution of the duration of only the first activity?
What are the possible outcomes on each trial of this computer simulation?
What is a statistic cell when using Analytic Solver?
What type of statistic cell can measure the probability that the results cell will be less than (or more than) a specified value?
What procedure needs to be used before choosing Parameter Analysis from the Reports > Simulation menu?
What are some advantages of choosing the triangular distribution instead?
What trade-off must be considered in addressing this problem?
What quantities appear in the uncertain variable cells of the spreadsheet model for this example?
What are the three estimates provided by the PERT three-estimate approach that give the parameters of this distribution of the duration of an activity?
What quantity appears in the results cell for this spreadsheet model?
What is entered into the results cell in Freddie’s spreadsheet model?
The decision variables for the project selection example needed to be of what kind?
What is the maximum number of decision variables that can be varied simultaneously in a parameter analysis report?
What is a possible danger with choosing the normal distribution to enter into an uncertain variable cell?
What problem is being addressed by the analytics group at Transcontinental Airlines in this section’s example?
What are the estimates that need to be made to prepare for applying computer simulation to this example?
Computer simulations commonly use which kind of probability distribution as the distribution of the duration of an activity?
After a long career, Jennifer Eleanor is nearing retirement. She would like to explore the possibility of retiring 10 years from now. She feels that she can comfortably retire if she can accumulate a
What are the quantities in the uncertain variable cells in this example’s spreadsheet model for applying computer simulation?
What is a results cell when using Analytic Solver?
Does Solver always find an optimal solution for a simulation model?
What are the advantages of using a parameter analysis report instead of simply using trial and error to try different values of the decision variable(s) and running a simulation for each?
In the pioneering application of management science to revenue management at American Airlines, what increase in annual revenues was achieved?
What is the investment proposal that the management of the Think-Big Development Co. needs to evaluate?
A PERT procedure can obtain only a rough approximation of a certain key quantity, so computer simulation is used to obtain a much closer estimate of the quantity. What is this quantity
The bids of the competitors are being estimated in what form?
What is an uncertain variable cell when using Analytic Solver?
What kinds of problems can Solver deal with that a parameter analysis report cannot?
What does a parameter analysis report enable you to do that a single simulation run with one value of the decision variable(s) does not?
How many probability distributions are available in Analytic Solver’s Distributions menu?
What is meant by revenue management in the travel industry?
What is a risk profile for an investment (or a portfolio of investments)?
What is the project that is being considered in this section’s example?
What is the project for which the Reliable Construction Co. is submitting a bid?
What is the decision that Freddie the newsboy needs to make?
What does Solver search for in a simulation model with decision variables?
What are the two ways in which a study team usually presents its recommendations to management?
What is the basic difference in the procedure between simulating Herr Cutter’s barber shop without an associate and with an associate?
What kinds of estimates are obtained from simulation runs?
What is the state of the system for Herr Cutter’s barber shop?
A simulation run can be viewed as what kind of statistical experiment?
What is the name of the main procedure used to advance the time on the simulation clock?
What is the specific question being addressed when testing the validity of a simulation model?
Does Fritz’s analysis estimate that Herr Cutter’s income will eventually increase or decrease (compared to its current level) if he adds an associate?
What is a simulation clock
What is a random number? For what purpose is it used?
Which probability distributions need to be estimated in order to apply computer simulation to this case study?
When is computer simulation typically used despite being relatively expensive?
What is the difference between a general-purpose simulation language and an application oriented simulator?
What were the two ways with which Fritz tested the validity of his simulation model?
What are the two rules of thumb that will help guide this decision?
Why does computer simulation tend to be a relatively expensive procedure?
Who should the team engage to help check the accuracy of the simulation model?
What are the two types of estimates of a measure of performance obtained by the Queueing Simulator?
What is the decision facing Herr Cutter?
How does computer simulation imitate the operation of a stochastic system?
When beginning a computer simulation study, with whom should a study team meet to address some key questions and then to learn the details of how the system would operate?
What did Fritz simulate in his first simulation run? For what purpose?
What information is provided by the three parts of the label for queueing models?
What is the total additional cost of the approach suggested by Dupit’s vice president for engineering?
What are the two most important service-time distributions?
For the M/G/1 model, what is the effect on Lq, L, W, and Wq of decreasing the standard deviation of the service-time distribution?
What is the relationship between the mean of the service-time distribution and the mean service rate for a single continuously busy server?
What kinds of probabilities can also be used as measures of performance of queueing systems?
Which service-time distribution is assumed by the M/D/1 model?
What is the conventional assumption made by most queueing models about the queue capacity? About the queue discipline?
What is the decision of Dupit’s top management regarding which of the four proposed approaches will be adopted (except for particularly sparsely populated territories)?
What is the formula that relates L and Lq?
How does the M/G/1 model differ from the M/M/1 model?
Do preemptive priorities or nonpreemptive priorities give the greater improvement in the measures of performance for customers in the top priority class?
What is the distinction between the number of customers in the queue and the number in the system?
For this application, what is the conclusion about the minimum number of tech reps per territory needed to reduce waiting times for repairs to levels that appear to be satisfactory
What is Little’s formula that relates L and W? That relates Lq and Wq?
What is the effect of applying priorities when selecting customers to begin service?
How much more would it cost Dupit to reduce this average waiting time to 1/4 workday by decreasing the number of machines assigned to each tech rep?
What is meant by customers arriving randomly? Which distribution of interarrival times corresponds to random arrivals?

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