1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
3. Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-
choice questions might need you to select the best ANS, while essay questions
require detailed responses.
5. Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring
purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might
not be accepted.
,1. Which of the following best describes the primary purpose of
business simulation?
- A. To manage daily operations
- B. To provide a realistic environment for testing business
strategies and decision-making
- C. To develop new products
- D. To conduct market research
- ANS: B
- Rationale: The primary purpose of business simulation is to
provide a realistic environment for testing business strategies and
decision-making, allowing participants to learn and improve their
skills.
2. What is the primary function of a simulation model in
business?
- A. To track cash inflows and outflows
- B. To represent real-world business processes and systems for
analysis and experimentation
- C. To manage inventory levels
- D. To develop marketing strategies
- ANS: B
, - Rationale: A simulation model represents real-world
business processes and systems, allowing for analysis and
experimentation to improve decision-making and performance.
3. Which of the following is a key component of a discrete-event
simulation?
- A. Continuous data
- B. Random variables
- C. Deterministic outcomes
- D. Fixed time intervals
- ANS: B
- Rationale: Discrete-event simulation involves random
variables to represent the uncertainty and variability in real-world
processes, making it a key component of the simulation.
Fill-in-the-Blank Questions
4. The __________ method is used to generate random numbers
for simulation purposes.
- ANS: Monte Carlo
- Rationale: The Monte Carlo method is used to generate
random numbers for simulation purposes, allowing for the
modeling of uncertainty and variability in business processes.
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