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MAT 540 MidTerm EXAM
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MAT 540 MIDTERM EXAM MAT540 MidTerm EXAM
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Question 15 out of 5 points
Deterministic techniques assume that no uncertainty exists in model parameters.
Answer
Selected
Answer: True
Correct Answer:
Tru
e
Question 2
5 out of 5 points
A continuous random variable may assume only integer values within a given interval.
Answer
Selected
Answer: False
Correct Answer:
False
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.
Answer
Selected
Answer: False
Correct Answer:
False
Question 4
5 out of 5 points
A decision tree is a diagram consisting of circles decision nodes, square probability
nodes, and branches.
Answer
, Selected
Answer: False
Correct Answer:
False
Question 5
5 out of 5 points
Starting conditions have no impact on the validity of a simulation model.
Answer
Selected
Answer: False
Correct Answer:
False
Question 6
5 out of 5 points
A table of random numbers must be normally distributed and efficiently generated.
Answer
Selected
Answer: False
Correct Answer:
False
Question 7
5 out of 5 points
Qualitative methods are the least common type of forecasting method for the longterm
strategic planning process.
Answer
Selected
Answer: False
Correct Answer:
False
Question 8
5 out of 5 points
Data cannot exhibit both trend and cyclical patterns.
Answer
, Selected
Answer: False
Correct Answer:
False
Question 9
0 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?
Answer
Selected
Answer:
6.4 minutes
Correct Answer:
3.7 minutes
Question 10
5 out of 5 points
__________ is a measure of dispersion of random variable values about the expected
value.
Answer
Selected Answer:
Standard
deviation
Correct Answer:
Standard deviation
Question 11
5 out of 5 points
The __________ is the expected value of the regret for each decision.
Answer
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