MAT 540 MIDTERM

Aug 23rd, 2016
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1. Deterministic techniques assume that no uncertainty exists in model parameters. Answer True False 2. 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. Answer True False 3. A continuous random variable may assume only integer values within a given interval. Answer True False 4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches. Answer True false 5. Question 5 Excel can only be used to simulate systems that can be represented by continuous random variables. Answer True False Question 6 Starting conditions have no impact on the validity of a simulation model. Answer True False Question 7 Data cannot exhibit both trend and cyclical patterns. Answer True false Question 8 Qualitative methods are the least common type of forecasting method for the long-term strategic p

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MAT 540 MIDTERM1. Deterministic techniques assume that no uncertainty exists in model parameters.AnswerTrueFalse2. 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.AnswerTrueFalse3. A continuous random variable may assume only integer values within a given interval.AnswerTrueFalse4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, andbranches.AnswerTruefalse5. Question 5Excel can only be used to simulate systems that can be represented by continuous randomvariables.AnswerTrueFalseQuestion 6Starting conditions have no impact on the validity of a simulation model.AnswerTrueFalseQuestion 7Data cannot exhibit both trend and cyclical patterns.AnswerTruefalseQuestion 8Qualitative methods are the least common type of forecasting method for the long-term strategicplanning process.AnswerTruefalseQuestion 9Assume that it takes a college student an average of 5 minutes to find a parking spot in the mainparking lot. Assume also that this time is normally distributed with a standard deviation of 2minutes. What time is exceeded by approximately 75% of the college students when trying tofind a parking spot in the main parking lot?Answer5.8 minutes6.4 minutes9.2 minutes3.5 minutesQuestion 10__________ is a measure of dispersion of random variable values about the expected value

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