3)When working with parameter cells in RSPE software, which of the following sta
ID: 463915 • Letter: 3
Question
3)When working with parameter cells in RSPE software, which of the following statements is true?
A parameter analysis may specify different levels of a decision variable.
A parameter analysis normally causes multiple simulations to run.
No more than two variables can be simultaneously varied in a parameter analysis.
A trend chart can be used to display the results of changes in a parameter cell.
All of the above.
2)When applying simulation to a business problem, which of the following is the most appropriate choice for the decision variable?
The total cost.
The holding cost per unit.
The demand.
The selling price.
All of the above
1)A store sells six different models of cell phones and has found that they sell an equal number of each model. The probability distribution that would describe this random variable is called:
Uniform distribution
Poisson distribution
Skewed distribution
Normal distribution
Relative frequency distribution
A parameter analysis may specify different levels of a decision variable.
A parameter analysis normally causes multiple simulations to run.
No more than two variables can be simultaneously varied in a parameter analysis.
A trend chart can be used to display the results of changes in a parameter cell.
All of the above.
Explanation / Answer
3)
Ans: A trend chart can be used to display the results of changes in a parameter cell.
2)
Decision variable is the is one which is random in nature. Demand have random distribution which affects revenue level. The holding cost and selling price are fixed by the firm. The total cost is influenced by demand.
Thus, total cost, holding cost, and selling price are not variables.
The correct option is Demand
1)
Random variable is demand of six models of cell phones. The demand for each model is same, thus the probability of random variables is constant and same. In the uniform distribution the random variable have constant probaility.
Thus, the options Poisson distribution, skewed distribution, normal distribution, relative frequency distribution are wrong.
The correct option is Uniform Distribution because the probability of the randonm variables is constant.
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