Introduction To Management Science A Modeling And Case Studies Approach With Spreadsheets 3rd Edition Frederick S. Hillier - Solutions

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After a Decision Table has been used to narrow down the range of values of a decision vari- able that need to be considered, how can another Decision Table be used to better approxi- mate the optimal value of the decision variable?
What kind of information is summarized by the bands in a trend chart?
What does an overlay chart show?
What is the purpose of the Step 3 dialogue box?
What is the purpose of the Step 2 dialogue box?
After choosing Decision Table from this menu, what is the purpose of the Step 1 dialogue box?
What procedure needs to be used before choosing Decision Table from the Crystal Ball Tools menu?
What is the maximum number of decision variables that can be varied simultaneously in a Decision Table?
What are the advantages of using the Decision Table tool instead of simply using trial and error to try different values of the decision variable(s) and running a simulation for each?
What does the Decision Table tool enable you to do that a single simulation run with one value of the decision variable(s) does not?
What procedure does Crystal Ball provide for helping to identify the best distribution to enter into an assumption cell?
What does choosing the custom distribution from the Distribution Gallery enable you to do?
The binomial distribution gives the probability distribution of what?
What would be the key advantage of choosing either the Weibull distribution or a beta dis- tribution for an assumption cell?
Why is the uniform distribution sometimes a convenient choice for an assumption cell?
How does the lognormal distribution compare with the normal and triangular distributions?
What are some advantages of choosing the triangular distribution instead?
What is a possible danger with choosing the normal distribution to enter into an assumption cell?
What is the difference between a continuous distribution and a discrete distribution?
How many probability distributions are available in Crystal Ball's Distribution Gallery?
Did the simulation results obtained in this section determine how many reservations should be accepted for the flight under consideration?
What are the parameters of a binomial distribution?
What quantities appear in the assumption cells of the spreadsheet model?
What quantities appear in the forecast cells of the spreadsheet model for this problem?
What is the decision variable for this problem?
What trade-off must be considered in addressing this problem?
What problem is being addressed by the management science group at Transcontinental Air- lines in this section's example?
In the pioneering application of management science to revenue management at American Airlines, what increase in annual revenues was achieved?
What is meant by revenue management in the travel industry?
Does computer simulation indicate a significant chance of incurring a loss if Think-Big man- agement approves the investment proposal?
What quantity appears in the forecast cell for this example?
What quantities appear in the assumption ceils of the spreadsheet model for this example?
What are the estimates that need to be made to prepare for applying computer simulation to this example?
What is the investment proposal that the management of the Think-Big Development Co. needs to evaluate?
What is a risk profile for an investment (or a portfolio of investments)?
What policy did Everglade management adopt to reduce the possibility of having a negative cash balance at the end of 10 years?
What percentage of the trials actually resulted in a negative cash balance at the end of 10 years?
What can happen in a trial of the computer simulation that would result in a negative cash bal- ance at the end of 10 years?
How are the sizes of the short-term loans determined in this spreadsheet model?
What are the quantities in the assumption cells in this example's spreadsheet model for apply- ing computer simulation?
What aspect of the problem does computer simulation take into account that this prior man- agement science technique could not?
Which management science technique was previously used to address this cash flow manage ment problem before applying computer simulation?
What is the cash flow management problem that is currently confronting the management of the Everglade Golden Years Company?
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 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 quantity appears in the forecast cell of the spreadsheet model for this example?
What can be done to quickly enter these parameters into all the assumption cells after using the dialogue box for the distribution of the duration of only the first activity?
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?
Computer simulations commonly use which kind of probability distribution as the distribution of the duration of an activity?
A PERT/CPM 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?
What is the project that is being considered in this section's example?
What are the possible outcomes on each trial of this computer simulation?
What quantity appears in the forecast cell for this spreadsheet model?
What are the quantities in the assumption cells in this example's spreadsheet model for apply- ing computer simulation?
The bids of the competitors are being estimated in what form?
What is the project for which the Reliable Construction Co. is submitting a bid?
What has Freddie the newsboy learned so far about what his order quantity should be?
What provision does Crystal Ball provide for perhaps stopping a simulation run before the specified number of trials have been completed?
What is the significance of the mean standard error of the results from a computer simulation?
What are the key statistics provided by the statistics table when using Crystal Ball?
What kind of information is provided by a frequency chart when using Crystal Ball?
What is entered into the forecast cell in Freddie's spreadsheet model?
What is a forecast cell when using Crystal Ball?
What is entered into the assumption cell in Freddie's spreadsheet model?
What is an assumption cell when using Crystal Ball?
What is the decision that Freddie the newsboy needs to make?
What are the two ways in which a management science team usually presents its recommen- dations to management?
What kinds of estimates are obtained from simulation runs?
A simulation run can be viewed as what kind of statistical experiment?
What is the specific question being addressed when testing the validity of a simulation model?
When using animation to display a computer simulation in action, how are the key elements of the system represented?
What is the difference between a general-purpose simulation language and an applications- oriented simulator?
Who should the team engage to help check the accuracy of the simulation model?
When beginning a computer simulation study, with whom should a management science team meet to address some key questions and then to learn the details of how the system would operate?
What are the time constraints for performing the study?
What measures of performance of the system are of interest to management?
What kinds of alternative system configurations should be considered?
What specific issues should be addressed?
What are the overall objectives for the study?
What is the problem that management wants studied?
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?
Does Fritz's simulation model make any simplifying assumptions? Is it necessary for a simula- tion model to be a completely realistic representation of the real system?
What were the two ways with which Fritz tested the validity of his simulation model?
What are the two types of estimates of a measure of performance obtained by the Queueing Simulator?
What did Fritz simulate in his first simulation run? For what purpose?
What is the basic difference in the procedure between simulating Herr Cutter's barber shop without an associate and with an associate?
What is the state of the system for Herr Cutter's barber shop?
What is the name of the main procedure used to advance the time on the simulation clock?
What is a simulation clock?
Which probability distributions need to be estimated in order to apply computer simulation to this case study?
What are the two rules of thumb that will help guide this decision?
What is the decision facing Herr Cutter?
What does the Acme Machine Shop example demonstrate about the advisability of always maintaining a relatively high utilization factor for the servers in a queueing system?
When the waiting cost is proportional to the amount of waiting, what is an expression for the waiting cost?
What is the nature of the waiting cost when the customers for the queueing system are the company's own employees?
What is the trade-off involved in choosing the number of servers for a queueing system?
Do preemptive priorities or nonpreemptive priorities give the greater improvement in the mea- sures of performance for customers in the top priority class?
What is the effect of applying priorities when selecting customers to begin service?
What is the effect of combining separate single-server queueing systems into one multiple- server queueing system (without changing the utilization factor)?
For an M/G/1 queueing system, does cutting the variability (standard deviation) of service times in half provide most of the improvement that would be achieved by completely eliminating the variability?

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Introduction To Management Science A Modeling And Case Studies Approach With Spreadsheets 3rd Edition Frederick S. Hillier - Solutions

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