Mat 540 Quiz 1
Question 1
2 out of 2 points | | | If variable costs increase, but price and fixed costs are held constant, the break even point will decrease. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 2
2 out of 2 points | | | In general, an increase in price increases the break even point if all costs are held constant. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 3
2 out of 2 points | | | Parameters are known, constant values that are usually coefficients of variables in equations.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | |
Question 4
2 out of 2 points | | | Probabilistic techniques assume that no uncertainty exists in model parameters. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 5
2 out of 2 points | | | P(A | B) is the probability of event A, if we already know that event B has occurred. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | |
Question 6
2 out of 2 points | | | A continuous random variable may assume only integer values within a given interval.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 7
2 out of 2 points | | | The events in an experiment are mutually exclusive if only one can occur at a time.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | |
Question 8
2 out of 2 points | | | A university is planning a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even?Answer | | | | |
2 out of 2 points | | | If variable costs increase, but price and fixed costs are held constant, the break even point will decrease. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 2
2 out of 2 points | | | In general, an increase in price increases the break even point if all costs are held constant. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 3
2 out of 2 points | | | Parameters are known, constant values that are usually coefficients of variables in equations.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | |
Question 4
2 out of 2 points | | | Probabilistic techniques assume that no uncertainty exists in model parameters. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 5
2 out of 2 points | | | P(A | B) is the probability of event A, if we already know that event B has occurred. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | |
Question 6
2 out of 2 points | | | A continuous random variable may assume only integer values within a given interval.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 7
2 out of 2 points | | | The events in an experiment are mutually exclusive if only one can occur at a time.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | |
Question 8
2 out of 2 points | | | A university is planning a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even?Answer | | | | |