Math 540 Midterm

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MAT540046VA016-1132-001 Quantitative Methods
Review Test Submission: Midterm Exam

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MAT540046VA016-1132-001 (Quantitative Methods)

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Review Test Submission: Midterm Exam
Content
User| |
Course| Quantitative Methods |
Test| Midterm Exam |
Started| 2/9/13 10:35 PM |
Submitted| 2/11/13 5:07 PM |
Status| Completed |
Score| 150 out of 200 points |
Time Elapsed| No data |
Instructions| |

Question 1
5 out of 5 points
| |
| Deterministic techniques assume that no uncertainty exists in model parameters. Answer| | | | | Selected Answer:| True|
Correct Answer:| True|
| | | |
Question 2
5 out of 5 points
| |
| A continuous random variable may assume only integer values within a given interval. Answer| | | | | Selected Answer:| False|
Correct Answer:| False|
| | | |
Question 3
5 out of 5 points
| |
| A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. Answer| | | | | Selected Answer:| False|
Correct Answer:| False|
| | | |
Question 4
5 out of 5 points
| |
| A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.Answer| | | | | Selected Answer:| False|
Correct Answer:| False|
| | | |
Question 5
5 out of 5 points
| |
| A table of random numbers must be normally distributed and efficiently generated.Answer| | | | | Selected Answer:| False|
Correct Answer:| False|
| | | |
Question 6
5 out of 5 points
| |
| Starting conditions have no impact on the validity of a simulation model.Answer| | | | | Selected Answer:| False|
Correct Answer:| False|
| | | |
Question 7
0 out of 5 points
| |
| The Delphi develops a consensus forecast about what will occur in the future.Answer| | | | | Selected Answer:| False|
Correct Answer:| True|
| | | |
Question 8
5 out of 5 points
| |
| Qualitative methods are the least common type of forecasting method for the long-term strategic planning process.Answer| | | | | Selected Answer:| False|
Correct Answer:| False|
| | | |
Question 9
0 out of 5 points
| |
| Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. What time is exceeded by approximately 75% of the college students when trying to find a parking spot in the main parking lot?Answer| | | | | Selected Answer:| 6.4 minutes|

Correct Answer:| 3.7 minutes|
| | | |
Question 10
0 out of 5 points
| |
| __________ is a measure of dispersion of random variable values about the expected value.Answer| | | | | Selected Answer:| Range|
Correct Answer:| Standard deviation|
| | | |
Question 11
5 out of 5 points
| |
| The __________ is the maximum amount a decision maker would pay for additional information.Answer| | | | | Selected Answer:| expected value of perfect information| Correct Answer:| expected value of perfect information|

| | | |
Question 12
5 out of 5 points
| |
| Developing the cumulative probability distribution helps to determineAnswer| | | | | Selected Answer:| random number ranges|
Correct Answer:| random number ranges|
| | | |
Question 13
0 out of 5 points
| |
| Consider the following frequency of demand:

If the simulation begins with 0.8102, the simulated value for demand would beAnswer| | | | | Selected Answer:| 2|
Correct Answer:| 3|
| | | |
Question 14
5 out of 5 points
| |
|...
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