Mat540 Quiz 1

 Question 1
2 out of 2 points | | | Probabilistic techniques assume that no uncertainty exists in model parameters. 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
0 out of 2 points | | | Fixed cost is the difference between total cost and total variable cost. Answer | | | | | Selected Answer: | False | Correct Answer: | True | | | | |
 Question 4
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 5
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 6
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 7
2 out of 2 points | | | A binomial probability distribution indicates the probability of r successes in n trials. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | |
 Question 8
2 out of 2 points | | | If fixed costs increase, but variable cost and price remain the same, the break even pointAnswer | | | | | Selected Answer: | increases | Correct Answer: | increases | | | | |
 Question 9
2 out of 2 points | | | If the price increases but fixed and variable costs do not change, the break even pointAnswer | | | | |