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# MAT540 Week 5 MIDTERM Exam

Homework

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 Question 1
5 out of 5 points
Deterministic techniques assume that no uncertainty exists in model parameters.
 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.
 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.
 Question 4
5 out of 5 points
A decision tree is a diagram consisting of circles decision nodes, square probability
nodes, and branches.

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

Data cannot exhibit both trend and cyclical patterns.
 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?
 Question 10
5 out of 5 points
In Bayesian analysis, additional information is used to alter the __________ probability
of the occurrence of an event.
 Question 11
5 out of 5 points
The __________ is the expected value of the regret for each decision.

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