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 2
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 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
The events in an experiment are mutually exclusive if only one can occur at a time.
Answer
Selected Answer: True
Correct Answer: True
Question 6
2 out of 2 points
If events A and B are independent, then P(A|B) = P(B|A). Answer
Selected Answer: False
Correct Answer: False
Question 7
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 8
2 out of 2 points
The indicator that results in total revenues being equal to total cost is called the
Answer
Selected Answer: break-even point
Correct Answer: break-even point
Question 9
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
Selected