Ideally, which should come first, the model or the simulation? The model is created first because a simulation needs models to run. They are created at the same time because they are pretty much the same thing. The two are unrelated and can be created in any order. Simulation should come first because the model can only be developed using simulation.

Ideally, which should come first, the model or the simulation? The model is created first because a simulation needs models to run. They are created at the same time because they are pretty much the same thing. The two are unrelated and can be created in any order. Simulation should come first because the model can only be developed using simulation.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section: Chapter Questions

Problem 50P: Big Hit Video must determine how many copies of a new video to purchase. Assume that the companys...

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Wizard, a popular brand of electric garage door opener, includes two 40-watt bulbs that go onwhen the garage door is opened. A bulb will generally last about one year in normal operation.Three neighbors, James, Smith, and Walker, each has a Wizard opener in their respectivegarages. Each time a bulb burns out, James replaces both bulbs. Smith, on the other hand, replaces only the bulb that has burned out, and Walker replaces both bulbs only after both haveburned out. Assume that light bulbs fail according to an exponential law.b. What percentage of the time will Walker have only one bulb burning?
Wizard, a popular brand of electric garage door opener, includes two 40-watt bulbs that go onwhen the garage door is opened. A bulb will generally last about one year in normal operation.Three neighbors, James, Smith, and Walker, each has a Wizard opener in their respectivegarages. Each time a bulb burns out, James replaces both bulbs. Smith, on the other hand, replaces only the bulb that has burned out, and Walker replaces both bulbs only after both haveburned out. Assume that light bulbs fail according to an exponential law.c. Is there any advantage of James’s strategy over Smith’s?
Wizard, a popular brand of electric garage door opener, includes two 40-watt bulbs that go onwhen the garage door is opened. A bulb will generally last about one year in normal operation.Three neighbors, James, Smith, and Walker, each has a Wizard opener in their respectivegarages. Each time a bulb burns out, James replaces both bulbs. Smith, on the other hand, replaces only the bulb that has burned out, and Walker replaces both bulbs only after both haveburned out. Assume that light bulbs fail according to an exponential law.a. Over a 10-year period, how many bulbs, on average, will each neighbor require?
Choose the best answer choice to identify the benefit(s) of simulation. a. Simulation can lead to greater comprehension of the behavior of a real-world system. b. Simuulation can permit compression of years of hit-or miss experimenting with a business process into just a few short moments of computer time. c. Simulaation can help us answer ‘what-if’ questions. d. Simulattion can allow us to explore the implications of uncertainty in processes. e. All of the above (i.e., a, b, c, and d are potential advantages of simulation.).
What are the controllable inputs from this example? What are the uncontrollable inputs from this example? Shelby Shelving is a small company that manufactures two types of shelves for grocery stores. Model S is the standard model and model LX is a heavy-duty version. Shelves are manufactured in three major steps: stamping, forming, and assembly. In the stamping stage, a large machine is used to stamp standard sheets of metal into appropriate sizes. In the forming stage, another machine bends the metal into shape. Assembly involves joining the parts with a combination of soldering and riveting. Since different amount of solder and rivets are used for assembly, they have different workstations. Model S shelves are sold for $350 and model LX shelves are sold for $405. Shelby’s operation is fairly small in the industry, and management believes it cannot raise prices beyond these levels because of the competition. However, the marketing department believes that Shelby can sell as much as…
What is an example of a learning objective for a lesson on Integrating Writing in Math in a first-grade classroom? The learning objective should include the following required components: behavior, condition, and measurable criterion that aligns with both of the below standards. Math Standard Solve real-world problems involving addition and subtraction within 20 in situations of adding to, taking from, putting together, taking apart, and comparing with unknowns in all parts of the addition or subtraction problem (e.g., by using objects, drawings, and equations with a symbol for the unknown number to represent the problem). Writing Standard Produce (when writing or speaking) a topic sentence or main idea, provide some facts or details about the topic, and provide a concluding statement.
An urn contains two red and two green balls. The balls are chosen at random, one by one, from the urn. If a red ball is chosen, it is removed. Any green ball that is chosen is returned to the urn. The selection process continues until all of the red balls have been removed from the urn. a) ) Find a transition probability matrix P. Find the expected number of transitions until the process ends. b) Find the mean time spent in state 2 until the process ends. c) ) Does a stationary distribution exist for this Markov chain? If so, what is it? If not, explain why it doesn’t exist. please answer parts a, b, and c.
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In this version of dice blackjack, you toss a single die repeatedly and add up the sum of your dice tosses. Your goal is to come as close as possible to a total of 7 without going over. You may stop at any time. If your total is 8 or more, you lose. If your total is 7 or less, the house then tosses the die repeatedly. The house stops as soon as its total is 4 or more. If the house totals 8 or more, you win. Otherwise, the higher total wins. If there is a tie, the house wins. Consider the following strategies: Keep tossing until your total is 3 or more. Keep tossing until your total is 4 or more. Keep tossing until your total is 5 or more. Keep tossing until your total is 6 or more. Keep tossing until your total is 7 or more. For example, suppose you keep tossing until your total is 4 or more. Here are some examples of how the game might go: You toss a 2 and then a 3 and stop for total of 5. The house tosses a 3 and then a 2. You lose because a tie goes to the house. You toss a 3 and then a 6. You lose. You toss a 6 and stop. The house tosses a 3 and then a 2. You win. You toss a 3 and then a 4 for total of 7. The house tosses a 3 and then a 5. You win. Note that only 4 tosses need to be generated for the house, but more tosses might need to be generated for you, depending on your strategy. Develop a simulation and run it for at least 1000 iterations for each of the strategies listed previously. For each strategy, what are the two values so that you are 95% sure that your probability of winning is between these two values? Which of the five strategies appears to be best?
Which of the following is an example of an application control?(1) The client uses access security software to limit access to each of the accountingapplications.(2) Employees are assigned a user ID and password that must be changed every quarter.(3) The sales system automatically computes the total sale amount and posts thetotal to the sales journal master file.(4) Systems programmers are restricted from doing applications programmingfunctions.
Salary of chief executive officer is considered as product cost. True False Can be true, can be false

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		The model is created first because a simulation needs models to run.
		They are created at the same time because they are pretty much the same thing.
		The two are unrelated and can be created in any order.
		Simulation should come first because the model can only be developed using simulation.