{"id":75824,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/strayer-mat540-quiz-1"},"modified":"2017-08-18T07:04:08","modified_gmt":"2017-08-18T07:04:08","slug":"strayer-mat540-quiz-1","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/strayer-mat540-quiz-1\/","title":{"rendered":"Strayer MAT540 quiz 1"},"content":{"rendered":"

Question 1<\/strong><\/p>\n

If variable costs increase, but price and fixed costs are held constant, the break even point will decrease.<\/p>\n

Answer<\/p>\n

True<\/p>\n

False<\/p>\n

Question 2<\/strong><\/p>\n

Probabilistic techniques assume that no uncertainty exists in model parameters.<\/p>\n

Answer<\/p>\n

True<\/p>\n

False<\/p>\n

Question 3<\/strong><\/p>\n

In general, an increase in price increases the break even point if all costs are held constant.<\/p>\n

Answer<\/p>\n

True<\/p>\n

False<\/p>\n

Question 4<\/strong><\/p>\n

Parameters are known, constant values that are usually coefficients of variables in equations.<\/p>\n

Answer<\/p>\n

True<\/p>\n

False<\/p>\n

Question 5<\/strong><\/p>\n

A continuous random variable may assume only integer values within a given interval.<\/p>\n

Answer<\/p>\n

True<\/p>\n

False<\/p>\n

Question 6<\/strong><\/p>\n

A binomial probability distribution indicates the probability of r successes in n trials<\/p>\n

Answer<\/p>\n

True<\/p>\n

False<\/p>\n

Question 7<\/strong><\/p>\n

If events A and B are independent, then P(A|B) = P(B|A)<\/p>\n

Answer<\/p>\n

True<\/p>\n

False<\/p>\n

Question 8<\/strong><\/p>\n

A bed and breakfast breaks even every month if they book 30 rooms over the course of a month. Their fixed cost is $4200 per month and the revenue they receive from each booked room is $180. What their variable cost per occupied room?<\/p>\n

Answer<\/p>\n

$30<\/p>\n

$40<\/p>\n

$48<\/p>\n

$62<\/p>\n

Question 9<\/strong><\/p>\n

EKA manufacturing company produces Part # 2206 for the aerospace industry. Each unit of part # 2206 is sold for $15. The unit production cost of part # 2206 is $3. The fixed monthly cost of operating the production facility is $3000. How many units of part # 2206 have to be sold in a month to break-even?<\/p>\n

Answer<\/p>\n

166.67<\/p>\n

200<\/p>\n

250<\/p>\n

500<\/p>\n

Question 10<\/strong><\/p>\n

If the price increases but fixed and variable costs do not change, the break even point<\/p>\n

Answer<\/p>\n

Decreases<\/p>\n

Increases<\/p>\n

remains the same<\/p>\n

may increase or decrease, depending on sales<\/p>\n

Question 11<\/strong><\/p>\n

A university is planning a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even?<\/p>\n

Answer<\/p>\n

100<\/p>\n

120<\/p>\n

150<\/p>\n

175<\/p>\n

Question 12<\/strong><\/p>\n

In a binomial distribution, for each of n trials, the event

Answer<\/p>\n

time between trials is constant<\/p>\n

always has the same probability of occurring<\/p>\n

result of the first trial influence the next trial<\/p>\n

trials are continuous<\/p>\n

Question 13<\/strong><\/p>\n

The expected value of the standard normal distribution is equal to<\/p>\n

Answer<\/p>\n

0<\/p>\n

1<\/p>\n

2<\/p>\n

None of the above<\/p>\n

Question 14<\/strong><\/p>\n

The area under the normal curve represents probability, and the total area under the curve sums to<\/p>\n

Answer<\/p>\n

0<\/p>\n

1<\/p>\n

2<\/p>\n

None of the above<\/p>\n

Question 15<\/strong><\/p>\n

A production process requires a fixed cost of $50,000. The variable cost per unit is $25 and the revenue per unit is projected to be $45. Find the break-even point.<\/p>\n

Answer<\/p>\n

Question 16<\/strong><\/p>\n

Administrators at a university are planning to offer a summer seminar.The costs of reserving a room, hiring an instructor, and bringing in the equipment amount to $3000.
Suppose that it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even?<\/p>\n

Note:please report the result as a whole number, rounding if necessary and omitting the decimal point.<\/em><\/p>\n

Answer<\/p>\n

Question 17<\/strong><\/p>\n

Administrators at a university will charge students $158 to attend a seminar. It costs $2160 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $50 per student for the administrators to provide the course materials. How many students would have to register for the seminar for the university to break even?<\/p>\n

Note: please report the result as a whole number, omitting the decimal point.<\/em><\/p>\n

Answer<\/p>\n

Question 18<\/h3>\n

An inspector correctly identifies defective products 90% of the time. For the next 10 products, what is the probability that he makes fewer than 2 incorrect inspections?<\/p>\n

Note: Please report your answer with two places to the right of the decimal, rounding if appropriate.<\/em><\/p>\n

Answer:<\/em><\/p>\n

Question 19<\/h3>\n

An automotive center keeps tracks of customer complaints received each week. The probability distribution for complaints can be represented as a table (shown below). The random variable xi represents the number of complaints, and p(xi) is the probability of receiving xi complaints.<\/p>\n\n\n\n\n
xi<\/td>\n0<\/td>\n1<\/td>\n2<\/td>\n3<\/td>\n4<\/td>\n5<\/td>\n6<\/td>\n<\/tr>\n
p(xi)<\/td>\n.10<\/td>\n.15<\/td>\n.18<\/td>\n.20<\/td>\n.20<\/td>\n.10<\/td>\n.07<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

What is the average number of complaints received per week?<\/p>\n

Note: Please report your answer with two places to the right of the decimal, rounding if appropriate.<\/em><\/p>\n

Question 20<\/h3>\n

Employees of a local company are classified according to gender and job type. The following table summarizes the number of people in each job category.<\/p>\n

Male (M)Female (F)<\/span>
Job<\/span>
Administrative (AD) 110 10
Salaried staff (SS) 30 50
Hourly staff (HS) 60 40<\/p>\n

If an employee is selected at random, what is the probability that the employee is female or works as a member of the administration?<\/p>\n

Answer:<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Question 1 If variable costs increase, but price and fixed costs are held constant, the break even point will decrease. Answer True False Question 2 Probabilistic techniques assume that no uncertainty exists in model parameters. Answer True False Question 3 Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-75824","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/75824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=75824"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/75824\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=75824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=75824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=75824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}