20. A simulation method that uses a probabilistic means of estimating a frequency distribution is called. a. Monte Carlo b. Simulation methods c. Normal curve methods d. None of the above 21. Capacity measures must be tailored to fit specific situations a. True b. False 22. Capacity can be measured in terms of 23. The maximum output rate that a process of facility can achieve in the short term under ideal conditions a. Peak capacity b. Effective capacity c. Practical capacity d. Master budget volume 24. A concept that results from the ability to spread up setup costs, the ability to obtain quality purchase discounts, the ability to spread construction costs various process advantages is called a. Economies of scale b. Experience curves c. Diseconomies of scale d. None of the above 25. Jones takes ten hours to study for an operations management exam, He believes that with each exam he will get 80% faster and take less study time. If the final exam is the fourth exam of the semester, how long will the study for the exam. a. 6.4 b. 10 c. 8 d. 5.12