ITIS 1P97 Data Analysis and Business Modelling FINAL EXAM POSSIBLE QUESTIONS AND ANSWERS Brock University

ITIS 1P97 Data Analysis and
Business Modelling FINAL EXAM
POSSIBLE QUESTIONS AND
ANSWERS Brock University


13. Simulation model

34) The Monte Carlo simulation was developed by
A) John von Neumann.
B) Eric von Brock.
C) A.K. Erlang.
D) P.K. Poisson.
E) J.D. Monte Carlo.


35) In assigning random numbers in a Monte Carlo simulation,
A) it is important to develop a cumulative probability distribution.
B) it is important to use a normal distribution for all variables simulated.
C) it is not important to assign probabilities to an exact range of random number
intervals.
D) All of the above
E) None of the above



36) What is the probability of selecting any random number from a two digit table? A)
0.001
B) 0.01
C) 0.10
D) 0.02
E) Not enough information provided
Answer: B
36) What is the probability of selecting any random number from a two digit table? A) 0.001
B) 0.01
C) 0.10
D) 0.02
E) Not enough information provided
Answer: B

ble 13-4

A pawn shop in Arlington, Texas, has a drive-through window to better serve customers. The
following tables provide information about the time between arrivals and the service times
required at the window on a particularly busy day of the week. All times are in minutes.

Time Between Interval of
Probability
Arrivals Random Numbers
1 0.1 01-10
2 0.3 11-40
3 0.4 41-80
4 0.2 81-00

, Interval of
Service Time Probability
Random Numbers
1 0.2 01-20
2 0.4 21-60
3 0.3 61-90
4 0.1 91-00

The first random number generated for arrivals is used to tell when the first customer arrives
after opening.

46) According to Table 13-4, the time between successive arrivals is 1, 2, 3, or 4

, minutes. If the store opens at 8:00 a.m., and random numbers are used to generate arrivals,
what time would the first customer arrive if the first random number were 02? A) 8:01
B) 8:02
C) 8:03
D) 8:04
E) None of the above
Answer: A
Diff: 2
Topic: MONTE CARLO SIMULATION
AACSB: Analytic Skills

47) According to Table 13-4, the time between successive arrivals is 1, 2, 3, or 4 minutes. The
store opens at 8:00 a.m., and random numbers are used to generate arrivals and service
times. The first random number to generate an arrival is 39, while the first service time is
generated by the random number 94. What time would the first customer finish transacting
business?
A) 8:03
B) 8:04
C) 8:05
D) 8:06
E) None of the above
Answer: D
Diff: 2
Topic: MONTE CARLO SIMULATION
AACSB: Analytic Skills

48) According to Table 13-4, the time between successive arrivals is 1, 2, 3, or 4 minutes.
The store opens at 8:00 a.m., and random numbers are used to generate arrivals and service
times. The first 3 random numbers to generate arrivals are 09, 89, and 26. What time does
the third customer arrive?
A) 8:07
B) 8:08
C) 8:09
D) 8:10
E) None of the above
Answer: A
Diff: 2
Topic: MONTE CARLO SIMULATION
AACSB: Analytic Skills

49) According to Table 13-4, the time between successive arrivals is 1, 2, 3, or 4 minutes. The
store opens at 8:00 a.m., and random numbers are used to generate arrivals and service times.
The first two random numbers for arrivals are 95 and 08. The first two random numbers for
service times are 92 and 18. At what time does the second customer finish transacting
business?
A) 8:07
B) 8:08
C) 8:09
D) 8:10
E) None of the above
Answer: C
Diff: 3
Topic: MONTE CARLO SIMULATION
AACSB: Analytic Skills

54) Which of the following variables are probabilistic in an inventory model that requires
simulation?
A) demand only
B) lead time only
C) holding cost only