Mat 540 Quizzes 1 and 2 Questions and Answers

* Question 1
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
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 3
0 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: | True | Correct Answer: | False | | | | | * 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 | | | 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 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 model is a functional relationship that includes:Answer | | | | | Selected Answer: | all of the above | Correct Answer: | all of the above | | | | | * Question 9
2 out of 2 points | | | The indicator that results in total revenues being equal to total cost is called theAnswer | | | | | Selected Answer: |