Question #1: (15 points) 1. Which of the following are advantages of simulation? A. Simulation allows "what-if?" type of questions. B. Simulation can usually be performed by hand or using a small calculator. C. Simulation does not interfere with the real-world system. D. all of the above E. (a) and (c) only 2. The first step in simulation is to A. Set up possible courses of action for testing. B. Construct a numerical model. C. Validate the model. D. Define the problem. E. none of the above 3. Which of the following are disadvantages of simulation? A. inability to analyze large and complex real-world situations B. "time compression" capability C. could be disruptive by interfering with the real-world system D. is not usually easily transferable to other problems E. all of the above 4. Cumulative probabilities are found by A. Summing all the probabilities associated with a variable. B. Simulating the initial probability distribution. C. Summing all the previous probabilities up to the current value of the variable. D. Any method one chooses. E. None of the above 5. Which of the following statements are NOT true of simulation? A. Simulation models the behavior of a system B. The equations describing the operating characteristics of the system are known C. Simulation models can be used to study alternative solutions to a problem D. A simulation model cannot prescribe what should be done about a problem