Introduction to Models Quiz
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University of Pennsylvania *
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Course
10008
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Industrial Engineering
Date
Dec 6, 2023
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Schlumberger-Private
Module 1: Introduction to Models Quiz
Quiz, 10 questions
Question 1
1.
Question 1
1
point
Which of the following features is typically NOT associated with a quantitative model for a business
process?
Mathematical equations
A formal description of a business process
A 100% accurate representation of the business process
Assumptions
Question 2
2.
Question 2
1
point
For which activity(ies) might you use a quantitative model?
(i) Forecasting
(ii) Targeting
(iii) Optimization
(i)
(i), (ii), and (iii)
(ii) and (iii)
(i) and (ii)
Question 3
3.
Question 3
1
point
Which of the following activities is typically NOT a part of the modeling process?
Model formulation
Sensitivity analysis
Validation
Creating a model, so that the output always agrees with our prior expectations
Question 4
4.
Question 4
1
point
If a model gives a different output even when the inputs are the same, then what sort of
model
must
it be?
Deterministic
Probabilistic
Dynamic
Discrete
Question 5
1
point
5.
Question 5
From a modeling perspective, what is the key difference between a digital and an analog
thermometer?
The digital thermometer provides a discrete reading of the temperate, whereas the analog provides
a continuous one
The digital thermometer provides a continuous reading of temperature, whereas the analog provides
a discrete one
The digital thermometer always provides a more accurate reading of the temperature
There is no difference, because they will always provide identical readings of temperature
Question 6
6.
Question 6
1
point
In the model y=3 e^(0.02 t) , where t is measured in months and y measures the number of
customers in thousands, what is the best interpretation of the coefficient 0.02?
The monthly customer growth rate is approximately 2%
Two-thousand extra customers are added every month
The annual customer growth rate is approximately 2%
For every 1% increase in months there will be a 2% increase in customers
Question 7
7.
Question 7
1
point
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What is the
defining
characteristic of the
linear
model y =3+4 x, where x is the number of units
produced and y is the time in hours it takes to produce them?
When x goes from 4 to 5, the change in y is larger than when x goes from 40 to 41
The model has a set-up time of 3 hours
If x increases by 1% then y will increase by 4%.
The rate of change in y is constant at 4 hours per unit
Question 8
8.
Question 8
1
point
For which of the following business processes is a log function particularly useful in modeling the
output?
A process that exhibits diminishing returns to scale
A process that exhibits seasonality
A process that is increasing at a constant rate
A process that exhibits a constant growth rate
Question 9
9.
Question 9
1
point
If you wanted to model a business process that looked like the graph below, then which modeling
function would you suggest?
Any of these
Log
Linear
Exponential
Question 10
10.
Question 10
1
point
When would you choose to use a dynamic model for a business process?
When there is more than one input to the model
When there is specific interest in the state to state transitions of the process
When all of the inputs are random variables
When there is considerable uncertainty as to what the inputs should be
I,
Arijit Paul
, understand that submitting work that isn’t my own may result in permanent failure of
this course or deactivation of my Coursera account.
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