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value engineering quiz chapter 6

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CUA CE 482 / 582: Value Engineering Dr. Rick Thompson Quiz No. 5 HTMA Chapter 7/VO Chapter 7 Name: Sign: Please answer the following questions by circling the letter of the correct answer and by responding to the short answer question in the blank space below the question There are three (3) multiple choice questions and one (1) short answer question per chapter. Each multiple choice question is worth one (1) point and each short answer question is worth two (2) points for a total of five (5) points per chapter per textbook. This quiz is worth a total of ten (10) points HTMA Chapter 7 Questions H7.1. Which of the following describes and Expected Opportunity Loss in its simplest form? A The sum of the wrong choice and the best alternative available B. The difference between the right choice and the best alternative available C. The cost of being wrong times the chance of being wrong D. The product of the wrong choice and the most readily available alternative H7 2. Which of the following define(s) the Expected Value of Information (EVI/? A The value of the reduction in decision risk B. The expected difference between the EOL before and after a measurement C. The difference between the reduction in risk and the EOL after a measurement D. All of the above E. Answers A and B H7.3. Fill in the Blanks in the following Statement. You need data to significantly reduce uncertainty in cases where uncertainty is already — A More, high B. More, low C. Less, high D. Less, low E Answers B and C F. Answers A and D H74. Draw and label the components of an EVVECVEVPI chart (graph). CUA CE 482 / 582: Value Engineering Dr. Rick Thompson Quiz No. 5 HTMA Chapter 7/VO Chapter 7 Name: Sign: Please answer the following questions by circling the letter of the correct answer and by responding to the short answer question in the blank space below the question There are three (3) multiple choice questions and one (1) short answer question per chapter. Each multiple choice question is worth one (1) point and each short answer question is worth two (2) points for a total of five (5) points per chapter per textbook. This quiz is worth a total of ten (10) points HTMA Chapter 7 Questions H7.1. Which of the following describes and Expected Opportunity Loss in its simplest form? A The sum of the wrong choice and the best alternative available B. The difference between the right choice and the best alternative available C. The cost of being wrong times the chance of being wrong D. The product of the wrong choice and the most readily available alternative H7 2. Which of the following define(s) the Expected Value of Information (EVI/? A The value of the reduction in decision risk B. The expected difference between the EOL before and after a measurement C. The difference between the reduction in risk and the EOL after a measurement D. All of the above E. Answers A and B H7.3. Fill in the Blanks in the following Statement. You need data to significantly reduce uncertainty in cases where uncertainty is already — A More, high B. More, low C. Less, high D. Less, low E Answers B and C F. Answers A and D H74. Draw and label the components of an EVVECVEVPI chart (graph).
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CE 482: Value Engineering
Dr. Rick Thompson
Quiz No. 5
HTMA VO Chapter 7
Name……………………………………. Sign ……………………………………….
HTMA Chapter 7 Questions
H.7.1.Which of the following describe...


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