QMweek2quiz2
12 Pages

QMweek2quiz2

Course Number: BUSINESS 540, Spring 2013

College/University: Strayer

Word Count: 904

Rating:

Document Preview

Question 1 0 out of 2 points Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed. Answer Selected Answer: Correct Answer: Question 2 2 out of 2 points Probability trees are used only to compute conditional probabilities. Answer Selected Answer: Correct Answer: Question 3 0 out of 2 points If two events are not mutually exclusive, then P(A or...

Unformatted Document Excerpt
Coursehero >> District of Columbia >> Strayer >> BUSINESS 540

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

1 0 Question out of 2 points Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed. Answer Selected Answer: Correct Answer: Question 2 2 out of 2 points Probability trees are used only to compute conditional probabilities. Answer Selected Answer: Correct Answer: Question 3 0 out of 2 points If two events are not mutually exclusive, then P(A or B) = P(A) + P(B) Answer Selected Answer: Correct Answer: Question 4 2 out of 2 points The Hurwicz criterion is a compromise between the minimax and minimin criteria. Answer Selected Answer: Correct Answer: Question 5 2 out of 2 points The minimax regret criterion maximizes the minimum regret. Answer Selected Answer: Correct Answer: Question 6 2 out of 2 points The Hurwicz criterion is a compromise between the maximax and maximin criteria. Answer Selected Answer: Correct Answer: Question 7 2 out of 2 points The maximin approach involves choosing the alternative with the highest or lowest payoff. Answer Selected Answer: Correct Answer: Question 8 2 out of 2 points A professor would like to utilize the normal distribution to assign grades such that 5% of students receive A's. If the exam average is 62 with a standard deviation of 13, what grade should be the cutoff for an A? (Round your answer.) Answer Selected Answer: 83 Correct Answer: 83 Question 9 0 out of 2 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. Find the probability that a randomly selected college student will take between 2 and 6 minutes to find a parking spot in the main parking lot. Answer Selected Answer: 0.4772 Correct Answer: 0.6247 Question 10 0 out of 2 points The metropolitan airport commission is considering the establishment of limitations on noise pollution around a local airport. At the present time, the noise level per jet takeoff in one neighborhood near the airport is approximately normally distributed with a mean of 100 decibels and a standard deviation of 3 decibels. What is the probability that a randomly selected jet will generate a noise level of more than 105 decibels? Answer Selected Answer: 0.0228 Correct Answer: 0.0475 Question 11 2 out of 2 points The maximin criterion results in the Answer Selected Answer: maximum of the minimum payoffs Correct Answer: maximum of the minimum payoffs Question 12 2 out of 2 points A group of friends are planning a recreational outing and have constructed the following payoff table to help them decide which activity to engage in. Assume that the payoffs represent their level of enjoyment for each activity under the various weather conditions. Weather Cold Warm Rainy S1 S2 S3 Bike: A1 10 8 6 Hike: A2 14 15 2 Fish: A3 7 8 9 If the group chooses to minimize their maximum regret, what activity will they Answer: Any choose? Answer Selected of the above Correct Answer: Any of the above Question 13 2 out of 2 points A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow. If the probability of brisk business is .40 and for slow business is .60, the expected value of perfect information is: Answer Selected Answer: 12 Correct Answer: 12 Question 14 2 out of 2 points Determining the worst payoff for each alternative and choosing the alternative with the best worst is called Answer Selected Answer: maximin Correct Answer: maximin Question 15 0 out of 2 points A brand of television has a lifetime that is normally distributed with a mean of 7 years and a standard deviation of 2.5 years. What is the probability that a randomly chosen TV will last more than 8 years? Write your anwsers with two places after the decimal. Answer Selected Answer: Correct Answer: Question 16 0 out of 2 points A life insurance company wants to estimate their annual payouts. Assume that the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 4 years. What proportion of the plan recipients would receive payments beyond age 75? Round your answer to four places after the decimal. Answer Selected Answer: Correct Answer: Question 17 0 out of 2 points The quality control manager for ENTA Inc. must decide whether to accept (a1), further analyze (a2) or reject (a3) a lot of incoming material. Assume the following payoff table is available. Historical data indicates that there is 30% chance that the lot is poor quality (s1), 50 % chance that the lot is fair quality (s2) and 20% chance that the lot is good quality (s3). What is the numerical value of the maximin? Answer Selected Answer: Correct Answer: Question 18 0 out of 2 points A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow. If the probability of brisk business is .40, what is the numerical maximum expected value? Answer Selected Answer: Correct Answer: Question 19 2 out of 2 points Consider the following decision tree. What is the expected value for the best decision? Round your answer to the nearest whole number. Answer Selected Answer: Correct Answer: Question 20 0 out of 2 points The quality control manager for ENTA Inc. must decide whether to accept (a1), further analyze (a2) or reject (a3) a lot of incoming material. Assume the following payoff table is available. Historical data indicates that there is 30% chance that the lot is poor quality (s1), 50 % chance that the lot is fair quality (s2) and 20% chance that the lot is good quality (s3). What is the numerical value of the minimax regret? Answer Selected Answer: Correct Answer:

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Waterloo - MATH - 235
ring is the inner productπf (x), g (x) =f (x)g (x) dx−πon the vector space C [−π, π ] of continuous functions defined on the closed intervalfrom −π to π . This is the foundation for Fourier Series.THEOREM 1Let V be an inner
American Public University - PROJECT MA - Managment
database, which allows for better use of IT for implementing ‘segment of one’The Electronic Journal on Information Systems in Developing Countrieshttp://www.ejisdc.orgEJISDC (2009) 36, 5, 1-267strategies; it encourages consumers to spend
UNC - DRAM - 120
promised to introduceme to a general who may give me a promissory note.LOPAKHINNothing will come of it. And you will not pay the interest. Be quiet.LYUBOV ANDREYEVNAT here he goes again. There is no general.TROFIMOV, ANYA and VARYA enter.
Strayer - BUSINESS - 540
User.CourseQuantitative MethodsTestQuiz 4Started2/28/13 7:01 PMSubmitted 2/28/13 8:37 PMStatusCompletedScore38 out of 40 pointsTime Elapsed 1 hour, 36 minutes out of 2 hours.InstructionsQuestion 12 out of 2 pointsA systematicapproach to
Strayer - BUISNESS - 540
Vida Griffin Assignment 2Strayer UniversityFeb 03, 2013Professor YinJet CopiesProbabilityCumulative ProbabilityRepair Time in DaysRepair Time0.200.450.250.101.000.000.200.650.9012341234560.23789552510.9641989260.49407975840.
Strayer - BUISNESS - 540
April 26th. 2012Vida Love GriffinDr. Dotty HeadyMgt. 500Assignment 2.Empress Luxury LinesAccording to the case for critical analysis , Kevin Pfeiffer just told him , it looked to AntonioMelendez, as if top management at Empress luxury lines finally
Berkeley - EEP - 162
Berkeley - EEP - 162
INDUSTRIAL WATER USEIn many countries, assuring an adequate water supplyfor economic development is a key concern, and thistypically is thought of as water for industry.A growing economy and growing industrial output meana greater need for water.The
University of Toronto - MGTC - 74
MGTC74Winter 2013Igor AverbakhAssignment 1.Worth: 5%. Due: Tuesday February 26, 4 pm (If I am not in the office,just slide it under the door.) You should write managerial report for the followingproblem:Chapter 4, Problem 21 (pages 198-199 in the 13
University of Toronto - MGTC - 74
University of Toronto - MGTB - 29
CHAPTER7:GROUPSANDTEAMWORKMULTIPLECHOICE.Choosetheonealternativethatbestcompletesthestatementoranswersthequestion.Temporarilyorganizedgroupsthatareformedtoachieveparticulargoalsorsolveparticularproblemsarecalled1)_committees.A)B)taskforc
Western Michigan - PHYS - 1160
Western Michigan - PHYS - 1160
Western Michigan - PHYS - 1160
Western Michigan - PHYS - 1160
Western Michigan - PHYS - 1160
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Western Michigan - PHYS - 1140
Northern Virginia Community College - ECON - 101
caseNote to Acc 530: This pdf contains both Parts Aand B for Hooplah, Inc. Part A is due on 10/25and Part B is due on 10/27. Additional informationwill be required to complete Parts A and B andthose files are available on BB.Hooplah, Inc.9.6Applyi
Minnesota - HSCI - 1714
Minnesota - HSCI - 1714
Minnesota - HSCI - 1714
Minnesota - HSCI - 1714
Minnesota - HSCI - 1714
Minnesota - HSCI - 1714
Minnesota - HSCI - 1714
Minnesota - CHEM - 2301
Chemistry 2301 Exam 1 Answer Key Exam 1 Mean: Exam 1 Median: Exam 1 St. Dev.: 77 80 14Monday, February 16, 2009FrequencyExam Grade11. (9 pts) Draw Lewis dot structures for each of the molecules below. Draw all valence electrons as dots. If there are
Minnesota - CHEM - 2301
Chemistry 2301-001 Exam 1 Answer KeyMonday, October 5, 2009Exam 1 Mean: Exam 1 Median: Exam 1 St. Dev.:72 73 15FrequencyExam Grade11. (9 pts) Draw Lewis dot structures for each of the molecules below. Draw all valence electrons as dots. If there ar
Minnesota - CHEM - 2301
Chemistry 2301Monday, June 27, 2011Exam 1Answer KeyExam 1 Mean:Exam 1 Median:Exam 1 St. Dev.:1697117Multiple-Choice Section1. (3 pts) Which of the structures below is NOT a valid line-angle structure for C3H5NO?a.b.OOHCc.NNd.HNNO
Minnesota - CHEM - 2301
Chemistry 2301-001 Exam 2 Answer Key Exam 2 Mean: Exam 2 Median: Exam 2 St. Dev.: 57 58 14Monday, October 26, 2009FrequencyExam Grade11. (12 pts) How would you describe the relationship between each of the pairs of structures below? Are they enantiom
Minnesota - CHEM - 2301
Chemistry 2301Monday, March 9, 2009Exam 2Answer Key575617FrequencyExam 2 Mean:Exam 2 Median:Exam 2 St. Dev.:Exam Grade11. (12 pts) How would you describe the relationship between each of the pairs of structuresbelow? Are they enantiomers or
Minnesota - CHEM - 2301
Chemistry 2301Monday, July 11, 2011Exam 2Answer KeyExam 2 Mean:Exam 2 Median:Exam 2 St. Dev.:1636518Multiple-Choice Problems(2 pts each) For each of the molecules drawn below:For each atom marked chirality, indicate whether the atom would be
Minnesota - CHEM - 2301
Chemistry 2301 Exam 3 Answer KeyMonday, April 6, 2009Exam 3 Mean: 42 Exam 3 Median: 42 Exam 3 St. Dev.: 18FrequencyExam Grade11. (16 pts) Each of the reactions below is drawn with two possible reaction conditions. If only one of the two reaction con
Minnesota - CHEM - 2301
Chemistry 2301-001 Exam 3 Answer Key Exam 3 Mean: 60 Exam 3 Median: 61 Exam 3 St. Dev.: 21Monday, November 16, 2009FrequencyExam Grade11. (8 pts) Each of the reactions below is drawn with two possible reaction conditions. If only one of the two react
Minnesota - CHEM - 2301
Chemistry 2301Thursday, July 21, 2011Exam 3Answer KeyExam 3 Mean:Exam 3 Median:Exam 3 St. Dev.:1555521Multiple-Choice ProblemsPlease answer these problems on the bubble sheet.(4 pts each) Each of the reactions below is drawn with two possible
Minnesota - CHEM - 2301
Chemistry 2301 Exam 4 Answer KeyMonday, May 4, 2009Exam 4 Mean: 61 Exam 4 Median: 61 Exam 4 St. Dev.: 17FrequencyExam Grade11. (9 pts) Identify each of the transformations below as a reduction, an oxidation, or neither. Circle one answer only.REDUC
Minnesota - CHEM - 2301
Chemistry 2301-001 Exam 4 Answer Key Exam 4 Mean: 65 Exam 4 Median: 68 Exam 4 St. Dev.: 20Monday, December 14, 2009FrequencyExam Grade11. (9 pts) Identify each of the transformations below as a reduction, an oxidation, or neither. Circle only one ans
Minnesota - CHEM - 2301
Chemistry 2301Tuesday, August 2, 2011Exam 4Answer KeyExam 4 Mean:Exam 4 Median:Exam 4 St. Dev.:1606121Multiple-Choice ProblemsPlease answer these problems on the bubble sheet.(3 pts each) Identify each of the transformations below as a reduct
Minnesota - CHEM - 2301
Chemistry 2301 Final Exam Answer Key Final Exam Mean: 117 Final Exam Median: 116 Final Exam St. Dev.: 33May 16, 200911. (14 pts) For each of the pairs of acids (or bases) below, Draw the conjugate base (or acid). Circle whether you think the first acid
Minnesota - CHEM - 2301
Chemistry 2301Thursday, August 4, 2011Final ExamAnswer KeyFinal Exam Mean:121Final Exam Median: 120Final Exam St. Dev.: 371Multiple-Choice ProblemsPlease answer these problems on the bubble sheet.hybridization(2 pts each) For ethylformamidiniu
Minnesota - CHEM - 2301
Chemistry 2301-001 Final Exam Answer KeyDecember 18, 2009Final Exam Mean: 130 Final Exam Median: 131 Final Exam St. Dev.: 33FrequencyExam Grade11. (14 pts) For each of the pairs of acids (or bases) below, Draw the conjugate base (or acid). Circle wh
Minnesota - STAT - 5401
Stat 5401Day 1R Reference CardGetting helpMost R functions have online documentation.help(topic) documentation on topic?topic id.help.search("topic") search the help systemapropos("topic") the names of all objects in the search list matchingthe r
Minnesota - STAT - 5401
Stat 5401Day 3Variable informationis.na(x), is.null(x), is.array(x), is.data.frame(x),is.numeric(x), is.complex(x), is.character(x),. test for type; for a complete list, use methods(is)length(x) number of elements in xdim(x) Retrieve or set the dim
Minnesota - STAT - 5401
Stat 5401Day 2Data creationc(.) generic function to combine arguments with the default forming avector; with recursive=TRUE descends through lists combining allelements into one vectorfrom:to generates a sequence; : has operator priority; 1:4 + 1 is
Minnesota - STAT - 5401
Stat 5401Day 4Mathsin,cos,tan,asin,acos,atan,atan2,log,log10,expmax(x) maximum of the elements of xmin(x) minimum of the elements of xrange(x) id. then c(min(x), max(x)sum(x) sum of the elements of xdiff(x) lagged and iterated differences of vecto
Minnesota - STAT - 5401
Stat 5401Day 6Plottingplot(x) plot of the values of x (on the y-axis) ordered on the x-axisplot(x, y) bivariate plot of x (on the x-axis) and y (on the y-axis)hist(x) histogram of the frequencies of xbarplot(x) histogram of the values of x; use hori
Minnesota - STAT - 5401
Stat 5401Day 5Advanced data processingapply(X,INDEX,FUN=) a vector or array or list of values obtained byapplying a function FUN to margins (INDEX) of Xlapply(X,FUN) apply FUN to each element of the list Xtapply(X,INDEX,FUN=) apply FUN to each cell
Minnesota - STAT - 5401
Stat 5401Day 7Low-level plotting commandspoints(x, y) adds points (the option type= can be used)lines(x, y) id. but with linestext(x, y, labels, .) adds text given by labels at coordinates(x,y); a typical use is: plot(x, y, type="n"); text(x, y,nam
Minnesota - STAT - 5401
Stat 5401Day 10Section 1: IntroductionWhat is RThese notes describe how to use R while learning introductory statistics. The purpose is to allowthis _ne software to be used in "lower-level" courses where often MINITAB, SPSS, Excel, etc.are used. It
Minnesota - STAT - 5401
Stat 5401Day 8Lattice (Trellis) graphicsxyplot(yx) bivariate plots (with many functionalities)barchart(yx) histogram of the values of y with respect to those of xdotplot(yx) Cleveland dot plot (stacked plots line-by-line and columnbycolumn)densitypl
Minnesota - STAT - 5401
Stat 5401Day 9Statisticsaov(formula) analysis of variance modelanova(fit,.) analysis of variance (or deviance) tables for one or morefitted model objectsdensity(x) kernel density estimates of xbinom.test(), pairwise.t.test(), power.t.test(),prop.t
Monash - AFW - 1300
Monetary policy is the regulation of the money supply and interest rates by the centralbanks in order to control inflation and stabilise currency1. By changing the monetary interestrate, government could affect the environment. By increasing the interes
Golden West - CHEM - 185
Lab 8: Le Chteliers PrinciplePurpose In this experiment you will observe shifts in three equilibrium systems, and learn toexplain the observed changes in terms of molecular/ionic interactions and Le ChtliersPrinciple.IntroductionLeChtliers Principle