Quiz 1 - Question 1 Parameters are known constant values...

This preview shows page 1 - 3 out of 5 pages.

Question 1 Parameters are known, constant values that are usually coefficients of variables in equations
Question 2 If variable costs increase, but price and fixed costs are held constant, the break even point w
Question 3 Probabilistic techniques assume that no uncertainty exists in model parameters.
Question 4 Fixed cost is the difference between total cost and total variable cost.
Question 5 A binomial probability distribution indicates the probability of r successes in n trials.
Question 6
The events in an experiment are mutually exclusive if only one can occur at a time.
Question 7 If events A and B are independent, then P(A|B) = P(B|A).

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture