5. Which of the following are the Main Advantages of Simulations? - C Can be used to analyze large and complex real-world situations that cannot be solved using conventional operations management techniques. - - "Time compression" is impossible. To get answers can take many months or years. - T Simulations allow "what-if" analysis at the "Speed of the thought." - None of these . All of these 6. Which of the following apply to Simulations: - Good simulation models are very expensive. - It is an iterative process that may produce different solutions in repeated runs due to the use of random numbers. - A simulation will always find the optimal solution to a problem. - Managers must generate all the conditions and constraints for solutions that they want to examine. - None of these - All of these 7. Which of the following apply to the Monte Carlo Simulation? - To be effective a simulation can only run in Monte Carlo. - Require a probability distribution for key variables. - Require a cumulative probability distribution. - Needs an interval of random numbers for each of the key variables. - Only fractional random numbers can be used. - None of these 8. Which of the following are not the key supply-chain strategies? - Long-term partnerships with few suppliers. - Vertical integration. - Joint ventures. - Keiretsu networks (build coalitions). - All are - None are 3. Which of the following apply to the concept of Simulations: - Simulations imitate a real-world situations using mathematics. - They require random numbers to run. - They require a mathematical model that can be exercised. - Simulations will replace 'human judgement." - None of these - All of these 2. Which of the following apply to the concept of Learning Currves: - Curves do not differ from company to company. - Do not "reinvent the wheel", use other companies' curves. - They do not need any historical datasets. - Typically, are shown as a straight line. - None of these - All of these