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

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| Deterministic techniques assume that no uncertainty exists in model parameters. Answer| | | | | Selected Answer:| True|

Correct Answer:| True|

| | | |

Question 2

5 out of 5 points

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| 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

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| __________ is a measure of dispersion of random variable values about the expected value.Answer| | | | | Selected Answer:| Range|

Correct Answer:| Standard deviation|

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Question 11

5 out of 5 points

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| 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|

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Question 12

5 out of 5 points

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| Developing the cumulative probability distribution helps to determineAnswer| | | | | Selected Answer:| random number ranges|

Correct Answer:| random number ranges|

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Question 13

0 out of 5 points

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| 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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