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MAT 540 Week 1 Quiz 1.doc

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Exam Practice

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Quiz
1
Question 1
0 out of 2 points
Which of the following is incorrect with respect to the use of models in decision making?
Answer
Selected Answer:
they are generally easy to use
Correct Answer:
they promote subjectivity in decision making
Question 2
2 out of 2 points
The probabilities of mutually exclusive events sum to zero.
Answer
Selected Answer: False
Correct Answer: False
Question 3
0 out of 2 points
The term decision analysis refers to testing how a problem solution
reacts to changes in one or more of the model parameters.
Answer
Selected Answer: True
Correct Answer: False
Question 4
2 out of 2 points

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Variable costs are independent of volume and remain constant.
Answer
Selected Answer: False
Correct Answer: False
Question 5
2 out of 2 points
A frequency distribution is an organization of numerical data about the
events in an experiment.
Answer
Selected Answer: True
Correct Answer: True
Question 6
2 out of 2 points
Objective probabilities that can be stated prior to the occurrence of an event are
Answer
Selected Answer:
classical or a priori
Correct Answer:
classical or a priori
Question 7
2 out of 2 points
A set of events is collectively exhaustive when it includes _______ the events that can
occur in an experiment.
Answer
Selected Answer:
all

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