1. Which of the following is a primary benefit of using simulation in decision-making?
- Elimination of uncertainties
- Provides exact outcomes
- Allows experimentation without real-world consequences
- Reduces the need for data analysis
Answer :- c
2. What is the purpose of using simulation models?
- To replace real-world systems
- To replicate real-world processes and behaviours
- To simplify complex systems
- To predict outcomes with 100% accuracy
Answer :- b
3. Monte Carlo simulation is used for:
- Modeling continuous systems
- Predicting deterministic outcomes
- Handling uncertainty by running multiple trials
- Simulating discrete events only
Answer :- c
4. Which statistical technique is commonly employed in simulation to model uncertainty?
- Regression analysis
- Hypothesis testing
- Random number generation
- Correlation analysis
Answer :- c
5. Which factor is crucial for validating a simulation model?
- Ensuring the model’s complexity matches the real system
- Achieving identical results for all simulations
- Utilizing the same data for all model iterations
- Ignoring the model’s limitations
Answer :- a
6. Which statement about sensitivity analysis in simulation is true?
- It identifies variables that don’t impact the simulation outcomes.
- It measures the impact of changing one variable while keeping others constant.
- It’s only applicable to deterministic simulations
- It doesn’t consider uncertainties.
Answer :- b
7. In which field is Crystal Ball commonly used?
- Video Game Development
- Weather Forecasting
- Project Management and Decision Analysis
- Social Media Marketing
Answer :- c
8. Which aspect is a common challenge in simulation modelling?
- Overly simplified representations of real systems
- Inability to handle deterministic data
- Dependence on small-scale simulations
- Lack of need for validation and verification
Answer :- a
9. Which feature of project management software allows users to visualize task dependencies and relationships?
- Gantt charts
- Resource allocation
- Risk analysis
- Agile boards
Answer :- a
10. What functionality in project management software assists in tracking team workload and availability?
- Kanban boards
- Resource levelling
- Burn-up charts
- Critical path analysis
Answer :- b