ISYE 6644 MIDTERM 1 QUESTIONS & ANSWERS
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
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
