Normal distribution dialog of the risk solver platform

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Reference no: EM132154860

1. In a database, the things for which information is stored and maintained are called:

fields.

measurements.

entities.

attributes.

2. Which option in Risk Solver Platform allows you to choose the number of times random values can be generated for the uncertain cells in the model?

Trials per Simulation

Simulations to Run

Only Run

Sim. Random Seed

3. What is a database?

A collection of related files

Simply a collection of data

A data file holding a single file

Flat files used to store data

4. During which phase in problem solving is a formal model often developed?

Analyzing the problem

Structuring the problem

Defining the problem

Implementing the solution

5. Which of the following is an example of a measure of continuous metrics?

Four errors revealed in an invoice

A delivery delayed by seven days

Weight and volume of a sheet of steel

Three incomplete orders on a day

6. Which of the following is a parameter in the Normal Distribution Dialog of the Risk Solver Platform?

Maximum value

Minimum value

Most likely value

Mean

7. Which of the following inputs of a decision model is an example of data?

Estimated consumer demand

Inflation rates

Costs

Investment allocations

8. Which of the following ways would × /100 - 73 be represented in an Excel spreadsheet?

10(2) * 5(3) / 100 ^ 73

10(2) ^ 5(3) / 100 - 73

10^2 * 5^3 / 100 - 73

10*2 ^ 5*3 / 100 – 73

9. Monte Carlo sampling differs from Latin Hypercube sampling in that the Monte Carlo sampling:

results in a more even distribution of output values.

uses the entire range of the distribution in a more consistent manner.

selects random variates independently over the entire range of possible values of the distribution.

uses an uncertain variable whose probability distribution is divided into intervals of equal probability.

10. Which of the following questions will prescriptive analytics help a company address?

How many and what types of complaints did they resolve?

What is the best way of shipping goods from their factories to minimize costs?

What do they expect to pay for fuel over the next several months?

What will happen if demand falls by 10% or if supplier prices go up 5%?

Reference no: EM132154860

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