30 Questions
What is a characteristic of a system?
It is more than the sum of its parts
What is a key component of system resilience?
Feedback loops
What is a common sacrifice made for the sake of productivity and stability in a system?
System self-organisation
What is a characteristic of a system that exhibits self-organisation?
It is complex and evolving
What is an example of a system that exhibits self-organisation?
A simple snowflake
What is a characteristic of a system that is resilient?
It is elastic and adaptive
What is the purpose of Monte Carlo simulation in the context of random variables?
To map random variables to a set of numbers for model input
What are the numbers generated by a computer program for mapping random variables called?
Pseudo-random numbers
Which Excel formula is used to obtain a value for a probabilistic input that is normally distributed?
=NORMINV(RAND(),Mean, Standard Deviation)
What is the first step in using simulation to solve a problem?
Define the problem
What is the purpose of the sixth step in using simulation?
To consider the results and modify the model or inputs as needed
How are random variable values utilized in the model?
Through a technique known as Monte Carlo simulation
What are decision variables in the context of decision models?
Factors that can be controlled and selected by the decision maker
What is the second step in the problem-solving process with analytics?
Defining the problem
What is a limitation of models in decision making?
They cannot capture every detail of the real problem
What is the main goal of management science?
To support rational choice
What is a characteristic of rational choice, as defined by Simon (1954)?
It involves a set of alternative courses of action
Why is it important to acknowledge human behavior in decision making?
Because it is often irrational and influenced by emotions
What does the 'Why?' relate to in the root definition questions using PQR?
The naming and framing of the problem
What is the main purpose of the CATWOE framework in root definitions of relevant systems?
To provide a comprehensive understanding of the system's context
According to the CATWOE framework, what refers to the world view or adding context to the system?
Weltanschauung
In the PQR method, what does the 'What?' relate to?
The activity of the system
What is the role of the 'Actors' in the CATWOE framework?
To carry out more than one activity in the system
What is the primary focus of the root definitions of relevant systems?
To think about the system that might be put in place to achieve what people want
What is the primary objective of the simulation model in the context of flight reservations?
To relate profit for the flight to the number of passengers with a reservation who show up
What is the simulation model developed for in the context of inventory policy?
To choose an inventory policy that provides good customer service at a reasonable cost
What is the controllable input in the simulation model for flight reservations?
The number of reservations accepted for the flight
What is the probabilistic input in the simulation model for inventory policy?
The product demand and delivery lead time
What is the primary objective of the simulation in the context of traffic flow?
To determine the effect of installing a left turn signal on traffic flow
What is the common characteristic of the controllable inputs in the simulation models?
They can be adjusted to optimize performance
Learn about the basics of system thinking, including what constitutes a system, its characteristics, and its behavior. Discover how systems exhibit adaptive, dynamic, and goal-seeking behaviors. Test your understanding of system resilience and more.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
