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MAT540 Week 5 MIDTERM Exam

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 Question 1
5 out of 5 points
Deterministic techniques assume that no uncertainty exists in model parameters.
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 Question 2
5 out of 5 points
An inspector correctly identifies defective products 90% of the time. For the next 10
products, the probability that he makes fewer than 2 incorrect inspections is 0.736.
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 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.
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 Question 4
5 out of 5 points
A decision tree is a diagram consisting of circles decision nodes, square probability
nodes, and branches.

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 Question 5
0 out of 5 points
Simulation results will always equal analytical results if 30 trials of the simulation have
been conducted.
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 Question 6
5 out of 5 points
A table of random numbers must be normally distributed and efficiently generated.
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 Question 7
5 out of 5 points
The Delphi develops a consensus forecast about what will occur in the future.
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 Question 8
5 out of 5 points

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Data cannot exhibit both trend and cyclical patterns.
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 Question 9
5 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?
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 Question 10
5 out of 5 points
In Bayesian analysis, additional information is used to alter the __________ probability
of the occurrence of an event.
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 Question 11
5 out of 5 points
The __________ is the expected value of the regret for each decision.
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? Question 1 5 out of 5 pointsDeterministic techniques assume that no uncertainty exists in model parameters. Answer Selected Answer: TrueCorrect Answer: True? Question 2 5 out of 5 pointsAn inspector correctly identifies defective products 90% of the time. For the next 10 products, the probability that he makes fewer than 2 incorrect inspections is 0.736.Answer Selected Answer: TrueCorrect Answer: True? Question 3 5 out of 5 pointsA joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. Answer Selected Answer: FalseCorrect Answer: False? Question 4 5 out of 5 pointsA decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.Answer Selected Answer: FalseCorrect Answer: False? Question 5 0 out of 5 pointsSimulation results will always equal analytical results if 30 trials of the simulation have been conducted.Answer Selected Answer: TrueCorrect Answer: False? Question 6 5 out of 5 pointsA table of random numbers must be normally distributed and efficiently generated.Answer Selected Answer: FalseCorrect Answer: False? Question 7 5 out of 5 pointsThe Delphi develops a consensus forecast about what will occur in the future.Answer Selected Answer: TrueCorrect Answer: True? Question 8 5 out of 5 pointsData cannot exh ...
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