Mat 540 Week 1 Quiz

Week 1 quiz
Week 1, Quiz 1 Points Received 40/40 (100%)

1. Total cost equal the fixed cost plus the variable cost per unit divided by volume

• True

• False

2. Objective probabilities that can be stated prior to the occurrence of an event are

• Subjective

• A priori

• Classical or a priori

• None of the above

3. An experiment is an activity that results in one of several possible outcomes.

• True

• False

4. Variable costs are independent of volume and remain constant.

• True

• False

5. Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model?

• Decision
Which of the following is incorrect with respect to the use of models in decision making?

• they improve understanding of the problem

• they promote subjectivity in decision making

• they are generally easy to use

• they provide a systematic approach to problem solving

7. The steps of the scientific method are:

• Problem definition, model construction, observation, model solution implementation

• Observation, problem definition, model construction, model solution Implementation

• model construction, problem definition, observation, model solution implementation

• Observation, implementation, problem definition, model construction, model solution

8. A frequency distribution is an organization of numerical data about the events in an experiment.

• True

• False

9. The events in an experiment are mutually exclusive if only one can occur at a time

• True

• False

10. The probabilities of mutually exclusive events sum to zero.

• True

• False

11. Which of the following is not an alternative name for management science ?

• decision