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1.

Which of the following best defines Monte Carlo simulation?

a.	It is a tool for building statistical models that characterize relationships among a dependent variable and one or more independent variables.
b.	It is a collection of techniques that seek to group or segment a collection of objects into subsets.
c.	It is the process of selecting values of decision variables that minimize or maximize some quantity of interest.
d.	It is the process of generating random values for uncertain inputs in a model and computing the output variables of interest.

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2.

Why is the ROUND function used in Excel?

a.	to ensure that the values generated are whole numbers
b.	to ensure that the values generated are multiples of ten
c.	to ensure that the values generated are always positive
d.	to ensure that the values are even numbers

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3.

Which of the following best defines Monte Carlo simulation?

a.	It is a tool for building statistical models that characterize relationships among a dependent variable and one or more independent variables.
b.	It is a collection of techniques that seeks to group or segment a collection of objects into subsets.
c.	It is the process of selecting values of decision variables that minimizes or maximizes some quantity of interest.
d.	It is the process of generating random values for uncertain inputs in a model and computing the output variables of interest.

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4.

How does the Risk Solver Platform define an uncertain function cell?

a.	It is a cell that contains a triangular distribution function.
b.	It is a cell in which a distribution of output values is created from the model.
c.	It is a cell in which an uncertain variable is used to define a distribution.
d.	It is a cell that can only be defined by discrete distributions.

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5.

Which of the following is a parameter in the Normal Distribution Dialog of the Risk Solver Platform?

a.	maximum value	c.	most likely value
b.	minimum value	d.	mean

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6.

Which option in Risk Solver Platform allows you to choose the number of times that random values can be generated for the uncertain cells in the model?

a.	Trials per Simulation	c.	Only Run
b.	Simulations to Run	d.	Sim. Random Seed

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7.

The Risk Solver Platform ________ feature allows you to determine the influence that each uncertain model input has individually on an output variable based on its correlation with the output variable.

a.	trend chart	c.	overlay chart
b.	sensitivity chart	d.	box-whisker chart

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8.

The Risk Solver Platform ________ feature allows you to superimpose the frequency distributions from selected forecasts on one chart in order to compare differences and similarities that might not be apparent.

a.	trend chart	c.	overlay chart
b.	sensitivity chart	d.	box-whisker chart

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9.

If a simulation has multiple output variables that are related to one another, the distributions of all output variables can be viewed on a single Risk Solver Platform chart called a(n. ________.

a.	trend chart	c.	overlay chart
b.	sensitivity chart	d.	box-whisker chart

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10.

The Risk Solver Platform ________ chart shows the minimum, first quartile, median, third quartile, and maximum values in a data set graphically.

a.	trend	c.	overlay
b.	sensitivity	d.	box-whisker