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MAT540049VA0161126001
Quantitative Methods
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Week 5
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Take Test: Midterm Exam
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Take Test: Midterm Exam
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View Full DocumentRemaining Time: 3 hours, 58 minute, 08 seconds.
Question Completion Status:
Question 1
1.
Deterministic techniques assume that no uncertainty exists in model parameters.
Answer
True
False
5 points
Question 2
1.
A continuous random variable may assume only integer values within a given interval.
Answer True
False
5 points
Question 3
1.
A joint probability is the probability that two or more events that are mutually exclusive
can occur simultaneously.
Answer True
False
5 points
Question 4
1.
A decision tree is a diagram consisting of circles decision nodes, square probability
nodes, and branches.
Answer True
False
5 points
Question 5
1.
A table of random numbers must be normally distributed and efficiently generated.
Answer True
False
5 points
Question 6
1.
Excel can only be used to simulate systems that can be represented by continuous random
variables.
Answer True
False
5 points
Question 7
1.
Data cannot exhibit both trend and cyclical patterns.
Answer True
False
5 points
Question 8
1.
Qualitative methods are the least common type of forecasting method for the longterm
strategic planning process.
Answer True
False
5 points
Question 9
1.
In Bayesian analysis, additional information is used to alter the __________ probability
of the occurrence of an event.
Answer
marginal
conditional
binomial
revised
5 points
Question 10
1.
__________ is a measure of dispersion of random variable values about the expected
value.
Answer
Standard deviation
Range
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View Full DocumentThe zscore (the standard score)
All of the above
5 points
Question 11
1.
The __________ is the expected value of the regret for each decision.
Answer
expected value
expected opportunity loss
expected value of perfect information
none of the above
5 points
Question 12
1.
Consider the following frequency of demand:
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 Fall '12
 Rogers
 Accounting

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