Determine the explanation for the simulation's effects to vary from run to run.
Q: A process of combined data simulation and model fitting used for evaluating the robustness,…
A:
Q: Explain what are various types of information for decisions making does simulation typically…
A: The term "simulation" refers to the practise of reproducing the behaviour of a real-world process…
Q: Explain why the simulation outcomes vary from run to run
A: By simulating the platform's actual behavior and random behavior, simulation methodologies validate…
Q: Explain how simulation can be used for logistics service provider to analysis the risk. Give one…
A: A supply chain simulation shows the behavior of a logistics network over time. Simulation helps in…
Q: hoose the best answer choice to identify the benefit(s) of simulation. a. Simulation can lead…
A: Simulation is the process of copying an existing system. The purpose of the simulation is to…
Q: What is the process for achieving steady state results in a simulation?
A: If left unstimulated, and insufficient state framework may become dormant. For illustration reasons,…
Q: Define the difference between the simulated average demand and expected average demand in…
A: To be determined : The difference between the simulated average demand and expected average demand…
Q: What are the 7 steps to performed in simulation to analyze the problem?
A: Simulation is a paradigm that can be used in operations and mimics real-world processes. Random…
Q: Determine the seven steps to take in order to explore the problem using simulation.
A: Simulation is the paradigm that can be used to mimic the real-world method of operations. For…
Q: Determine why the simulation outcomes vary from run to run.
A: Simulation methods check the reliability by simulating the actual process and random behavior of the…
Q: Explain why Simulation is widely used technique in organzations
A: To be determined : why Simulation is widely used technique in organzations
Q: An electronic chess game has a useful life that is exponential with a mean of 30 months. Determine…
A: Formula:
Q: Determine the concept of Monte Carlo simulation and the steps to take after performing Monte Carlo…
A: The theory of random number creation for the production of random variable values is used in the…
Q: elucidate that simulation is the most often used tool.
A: The following are the reasons why simulation methods should be used:
Q: Establishing the Simulation Model
A: Modeling is the most common way of addressing a model which incorporates its development and…
Q: Determine that simulation is a methodology commonly used.
A: The following explanations justify the use of simulation techniques:
Q: What methods are used to analyze time in a simulation model? How do they work?
A: Answer as follows:
Q: Which of the following is an on-the-job training method? a) job rotation B) role playing…
A: The correct answer is job rotation
Q: Distinguish between Discrete-Event and Continuous Simulation?
A: A cost is the value of money that is used to produce something or provide a service, and is not…
Q: iness that where you have frequently observed inefficiencies or lack of capacity. What did you…
A: Government Agencies is of the business where I saw inefficiency and lack of capacity for doing stuff…
Q: Two difficulties that might be described using simulation models
A: A simulation model is a parameterized type determined on the network because it is too challenging…
Q: Describe the necessity of computers in conducting a real world simulation in operations
A: To be determined: the necessity of computers in conducting a real-world simulation in operations
Q: What exactly is Simulation Model Development?
A: A Simulation Model is a numerical plan of action that consolidates both numerical and legitimate…
Q: 44. US Airlines receives an average of 500 calls per hourfrom customers who want to make…
A: The following information is provided: The arrival rate is 500/hr The service rate is 20/hr Wage…
Q: Many people who are involved in a small auto accident do not file a claim because they are afraid…
A: To decide whether a particular claim should be filed or not, suppose the several damage values are…
Q: argues that laboratory experiments are a better source of knowledge about the world than computer…
A: Morgan in his article experiment was his model basically explains that both model and experiment…
Q: hat are two challenges that simulation models might represent well?
A: Simulation modeling is the most common way of making and examining a digital prototype of an actual…
Q: You have been employed by a tier one Automotive company who is planning on developing a new…
A: Simulation is a method which portrays a cycle by fostering a model of that interaction, and…
Q: Explain how steady state results achieved in a simulation
A: Without external stimulation, an ineffective state framework may remain dormant. For illustration…
Q: 1. Give 2 examples of over processing (waste)? 2 examples of over processing (waste) as follows: 2.…
A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…
Q: State and explain what is meant by the concept of time series
A: To be determined: what is meant by the concept of time series
Q: establish the significance of random numbers in Monte Carlo simulations.
A: Random numbers play the following roles in Monte Carlo simulation:
Q: State the difference between the simulated average demand and expected average demand in simulation…
A: A simulation is a time-based depiction of a real-world process or system's operation. Simulations…
Q: Which of the following is a simulation? some method of generating virtual measurements that look…
A: A simulation is the impersonation of the activity of a certifiable interaction or framework over the…
Determine the explanation for the simulation's effects to vary from run to run.
Step by step
Solved in 2 steps
- Assume a very good NBA team has a 70% chance of winning in each game it plays. During an 82-game season what is the average length of the teams longest winning streak? What is the probability that the team has a winning streak of at least 16 games? Use simulation to answer these questions, where each iteration of the simulation generates the outcomes of all 82 games.At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.Big Hit Video must determine how many copies of a new video to purchase. Assume that the companys goal is to purchase a number of copies that maximizes its expected profit from the video during the next year. Describe how you would use simulation to shed light on this problem. Assume that each time a video is rented, it is rented for one day.
- A martingale betting strategy works as follows. You begin with a certain amount of money and repeatedly play a game in which you have a 40% chance of winning any bet. In the first game, you bet 1. From then on, every time you win a bet, you bet 1 the next time. Each time you lose, you double your previous bet. Currently you have 63. Assuming you have unlimited credit, so that you can bet more money than you have, use simulation to estimate the profit or loss you will have after playing the game 50 times.The game of Chuck-a-Luck is played as follows: You pick a number between 1 and 6 and toss three dice. If your number does not appear, you lose 1. If your number appears x times, you win x. On the average, use simulation to find the average amount of money you will win or lose on each play of the game.Determine the concept of Monte Carlo simulation and the steps to take after performing Monte Carlo simulation.