Math 540 Week 2 Quiz.docx - Question 1 2 out of 2 points...

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Question 1 2 out of 2 points Probabilistic techniques assume that no uncertainty exists in model parameters.
Question 2 2 out of 2 points If variable costs increase, but price and fixed costs are held constant, the break even point will decrease.
Question 3 2 out of 2 points Fixed cost is the difference between total cost and total variable cost.
Question 4 2 out of 2 points In general, an increase in price increases the break even point if all costs are held constant.
Question 5 2 out of 2 points P(A | B) is the probability of event A, if we already know that event B has occurred.
Question 6 2 out of 2 points
If events A and B are independent, then P(A|B) = P(B|A).
Question 7 2 out of 2 points The events in an experiment are mutually exclusive if only one can occur at a time.

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