ISYE 6644 Midterm_1 Test Questions with Correct Answers Latest Update

ISYE 6644 Midterm_1 Test Questions with Correct Answers Latest Update What is simulation (M1L3)? - Answers Imitation of a real-world process or system over time. What is a model (M1L3)? - Answers High-level representations of the operation of a real-word process or system. Is the following a discrete or continuous model: 1 customer shows up and waits in line, and then another, and so on (M1L3). - Answers Discrete model Is the following a discrete or continuous model: An hourly weather prediction for precipitation over time (M1L3). - Answers Continuous model Is the following a stochastic or deterministic model: Calls that randomly arrive at a call center (M1L3). - Answers Stochastic model Is the following a stochastic or deterministic model: Predicting the voltage if we know the current and resistance in a circuit (M1L3). - Answers Deterministic model What does it mean for a model to be dynamic vs. static (M1L3)? - Answers Dynamic models have changing relationships between variables over time. In static models, the relationships between variables are fixed (e.g., V = IR). What are the three methods to "solve" a model: from easiest to hardest (M1L3)? - Answers 1. Analytical (exact) 2. Numerical methods (approximate) 3. Simulation methods (approx. with randomness) In the 1940s, who used early computers to simulate thermonuclear chain reactions as part of the Manhattan project (also had a role in the foundations of Monte Carlo methods)(M1L4). a) William Gossett, aka - "Student" b) Harry Markowitz c) Comte de Buffon d) Ulam, Metropolis, and von Neumann e) Justin Bieber - Answers ---d) correct answer--- a) Student's t-test, analytical techniques for Guinness Beer. b) Nobel in Econ for optimiz. of financial portfolios, invented Sim Script language. c) Dropping needles between parallel lines and estimating pi e) shouldn't be on this list :) Surveillance applications of simulation (such as - "is a disease spreading?") rely on sequential hypothesis tests over time. Describe how sequential hypothesis tests are used with simulation (M1L5)? - Answers 1. Come up with the null hypoth (e.g., disease is not spreading with time). 2. Use sim to approximate the probability distr of null hypothesis.