1- When you try to find the most appropriate input probability distribution in a simulation model, you first have to choose the most appropriate family, and then you have to select the most appropriate member of that family. True False 2- Assume that x is a random number between 0 and 1, and that the number of units expected to be sold is uniformly distributed between 300 and 500. Then, sales are given by the expression A.300 + x B.500 - x C.300 + 200 x D.500 - 200 x E.300 + 500 x 3- Which of the following statements is correct regarding the graph of a discrete probability distribution? A.It is a series of spikes. B.The height of each spike is the probability of the corresponding value. C.There is an empty space between adjacent spikes. D.All of these options 4- The RAND() function in excel models which of the following probability distributions: A.Normal(0,1) B.Uniform(0,1) C.Normal(-1,1) D.Uniform(-1,1) 5- Suppose you run a simulation model several times with different order quantities. What can we infer about the quantity that maximizes the output, the company's profit? A.This quantity is the optimal order quantity. B.This quantity might be the optimal order quantity, but we also need to consi attitude toward risk. C.This is not necessarily the optimal order quantity, because it may have prod luck. D.We can't infer anything. 6- Which of the following functions is often required in simulations where we must model a process over multiple time periods and must deal with uncertain timing of events? A.RISKMIN B.RISKMAX C.NPV D.IF E.None of these options 7- Which of the following is not among the financial applications where simulation can be applied? A.Future stock prices B.Customer preferences for different attributes of products C.Future interest rates D.Future cash flows E.None of these options 8- In a manufacturing model, we might simulate the number of days to produce a batch and the yield from each batch. The number of days would typically be a ___________ distribution and the yield would be a ___________ distribution. A.Continuous, discrete B.Continuous, continuous C.Discrete, continuous D.Discrete, discrete 9- The value at risk (VAR) is typically defined as the: A.5th percentile of NPV distribution B.10th percentile of NPV distribution C.50th percentile of NPV distribution D.90th percentile of NPV distribution E.95th percentile of NPV distribution 10- Suppose we have a 0-1 output for whether a bidder wins a contract in a bidding model (0=bidder does not win contract, and 1=bidder wins contract). From the mean of this output we can tell: A.the number of times the bidder wins the contract B.the number of times the bidder does not win the contract C.the probability that the bidder will win the contract D.the probability that the bidder will not win the contract E.None of these options 11- Which methodology is used to group products that customers purchase together? A.Market basket analysis B.Classification analysis C.Forecasting D.Prediction 12- Mya is investigating the factors that impact soda consumption. She examines a host of variables that help explain the amount consumed. Which type of data mining methodology is she most likely to use? A.Classification analysis B.Prediction C.Market basket analysis D.Forecasting 13- A facts table has: A.few rows and many columns B.many rows and many columns C.many rows and few columns D.few rows and few columns 14- In a facts table, a supermarket database is likely to have which item listed in rows? A.The number of units sold B.Revenue generated from a particular unit C.The department in which the unit was purchased D.The individual items purchased 15- The testing set in data partitioning is: A.The first subset of data, which usually contains 70% of the records B.The second subset of data, which usually contains less than 70% of the records C.The initial data set from which subsets are created D.The first subset of data, which usually contains 30% of the records 16- The predicted value from a logistic regression will be: A.between 0 and 1 B.between -1 and 1 C.less than 0 D.greater than 1 17- Suppose the odds of Team A winning are 5 to 1. Then, the odds ratio is: A.5/1 B.1/5 C.6/1 D.1/6 18- If the regression coefficient estimate from a logistic regression is positive, the probability of the dependent variable taking on a value of 1: A.remains constant B.decreases C.increases D.approaches zero 19- Melody is a department store manager and wants to examine whether or not female shoppers are more likely than male shoppers to use a department credit card. \"Female = 1\" indicates the individual is a female. \"Credit Card = 1\" indicates the individual used a credit card to make the purchase. \"Amount spent\" is in dollars. Amount Spent Female Credit Card 99 0 0 50 0 0 75 0 1 600 1 0 325 1 0 97 0 1 540 1 0 137 1 0 22 1 1 94 1 1 111 1 1 A.\"Credit Card\" is the independent variable and \"Female\" is an dependent var dependent variable. B.\"Credit Card\" is the independent variable and \"Female\" is an dependent var independent variable. C.\"Credit Card\" is the dependent variable and \"Female\" is an independent var independent variable. D.\"Credit Card\" is the dependent variable and \"Female\" is an independent var dependent variable. 20- A data mart is typically smaller than a data warehouse. True False 1- When you try to find the most appropriate input probability distribution in a simulation model, you first have to choose the most appropriate family, and then you have to select the most appropriate member of that family. True False 2- Assume that x is a random number between 0 and 1, and that the number of units expected to be sold is uniformly distributed between 300 and 500. Then, sales are given by the expression A.300 + x B.500 - x C.300 + 200 x D.500 - 200 x E.300 + 500 x D is also correct. 3- Which of the following statements is correct regarding the graph of a discrete probability distribution? A.It is a series of spikes. B.The height of each spike is the probability of the corresponding value. C.There is an empty space between adjacent spikes. D.All of these options 4- The RAND() function in excel models which of the following probability distributions: A.Normal(0,1) B.Uniform(0,1) C.Normal(-1,1) D.Uniform(-1,1) 5- Suppose you run a simulation model several times with different order quantities. What can we infer about the quantity that maximizes the output, the company's profit? A.This quantity is the optimal order quantity. B.This quantity might be the optimal order quantity, but we also need to consider the company's attitude toward risk. C.This is not necessarily the optimal order quantity, because it may have produced the largest profit by luck. D.We can't infer anything. 6- Which of the following functions is often required in simulations where we must model a process over multiple time periods and must deal with uncertain timing of events? A.RISKMIN B.RISKMAX C.NPV D.IF E.None of these options 7- Which of the following is not among the financial applications where simulation can be applied? A.Future stock prices B.Customer preferences for different attributes of products C.Future interest rates D.Future cash flows E.None of these options 8- In a manufacturing model, we might simulate the number of days to produce a batch and the yield from each batch. The number of days would typically be a ___________ distribution and the yield would be a ___________ distribution. A.Continuous, discrete B.Continuous, continuous C.Discrete, continuous D.Discrete, discrete 9- The value at risk (VAR) is typically defined as the: A.5th percentile of NPV distribution B.10th percentile of NPV distribution C.50th percentile of NPV distribution D.90th percentile of NPV distribution E.95th percentile of NPV distribution 10- Suppose we have a 0-1 output for whether a bidder wins a contract in a bidding model (0=bidder does not win contract, and 1=bidder wins contract). From the mean of this output we can tell: A.the number of times the bidder wins the contract B.the number of times the bidder does not win the contract C.the probability that the bidder will win the contract D.the probability that the bidder will not win the contract E.None of these options 11- Which methodology is used to group products that customers purchase together? A.Market basket analysis B.Classification analysis C.Forecasting D.Prediction 12- Mya is investigating the factors that impact soda consumption. She examines a host of variables that help explain the amount consumed. Which type of data mining methodology is she most likely to use? A.Classification analysis B.Prediction C.Market basket analysis D.Forecasting 13- A facts table has: A.few rows and many columns B.many rows and many columns C.many rows and few columns D.few rows and few columns 14- In a facts table, a supermarket database is likely to have which item listed in rows? A.The number of units sold B.Revenue generated from a particular unit C.The department in which the unit was purchased D.The individual items purchased 15- The testing set in data partitioning is: A.The first subset of data, which usually contains 70% of the records B.The second subset of data, which usually contains less than 70% of the records C.The initial data set from which subsets are created D.The first subset of data, which usually contains 30% of the records 16- The predicted value from a logistic regression will be: A.between 0 and 1 B.between -1 and 1 C.less than 0 D.greater than 1 17- Suppose the odds of Team A winning are 5 to 1. Then, the odds ratio is: A.5/1 B.1/5 C.6/1 D.1/6 18- If the regression coefficient estimate from a logistic regression is positive, the probability of the dependent variable taking on a value of 1: A.remains constant B.decreases C.increases D.approaches zero 19- Melody is a department store manager and wants to examine whether or not female shoppers are more likely than male shoppers to use a department credit card. \"Female = 1\" indicates the individual is a female. \"Credit Card = 1\" indicates the individual used a credit card to make the purchase. \"Amount spent\" is in dollars. Amount Spent Female Credit Card 99 0 0 50 0 0 75 0 1 600 1 0 325 1 0 97 0 1 540 1 0 137 1 0 22 1 1 94 1 1 111 1 1 A.\"Credit Card\" is the independent variable and \"Female\" is an dependent variable. Amount is also an dependent variable. B.\"Credit Card\" is the independent variable and \"Female\" is an dependent variable. Amount is also in independent variable. C.\"Credit Card\" is the dependent variable and \"Female\" is an independent variable. Amount is also in independent variable. D.\"Credit Card\" is the dependent variable and \"Female\" is an independent variable. Amount is also an dependent variable. 20- A data mart is typically smaller than a data warehouse. True False