Mat 540 quiz 1
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This document provides a quiz for a course on MAT 540. It contains 20 multiple choice questions covering topics related to decision analysis, modeling, probability, and statistics. Correct answers are provided for self-grading. The quiz covers concepts such as decision trees, mutually exclusive events, constraints, cost functions, and the scientific method.
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Mat 540 week 1 quiz1
This document contains 20 multiple choice questions about concepts in decision analysis, probability, statistics, and mathematical modeling. The questions cover topics such as frequency distributions, mutually exclusive events, objective probabilities, fixed and variable costs, the scientific method, and components of mathematical models. The document provides questions to test understanding of key terminology and relationships in quantitative analysis but does not include the answer choices or solutions.
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- Instrumental variable regression is discussed as another technique, using variables that influence the treatment but not the outcome except through treatment. Scalable methods for instrumental variable regression on large datasets are proposed.
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● Meaningful Analytic Structures
Analysis and Statistics
A key aspect of the work of the BI/Analytics consultant is analysis. Analysis can be defined as
how the data is turned into information. Information is the outcome when the data is analyzed
correctly.
Rigorous analysis is having the best chance of creating the sharpest picture of what the data
might reveal and is the product of proper application of statistics and experimental design.
Statistics encompasses a complex and detailed series of disciplines. Statistical concepts are
foundational to all descriptive, predictive and prescriptive analytic applications. However, the
application of simple descriptive statistical calculations yields a great deal of usable information
for transformational decision-making. The value of the information is amplified when using these
same simple statistics within the context of a well-designed experiment.
This module is not designed to teach one statistic. It is designed to place statistical work within
the appropriate context so that it can be leveraged most effectively in driving organizational
performance..
An important review of the basic knowledge for work with descriptive and inferential statistics.
The Basic Elements of Experimental Design
Analytic tools also can provide an enhanced ability to conduct experiments. More than just
allowing analysis of output of activities or processes, experiments can be performed on
processes and the output of processes. Experimenting on processes is a movement beyond
the traditional r.
SearchLove Boston 2017 | Richard Fergie | You Aren't Doing Science and That's OK
We have been trained and encouraged to focus on p-values and statistical significance in every aspect of testing, from PPC to CRO. In this talk, Richard is going to challenge your preconceptions, show how scientific accuracy isn't necessarily the same as commercial success, and demonstrate strategies that are better than waiting for your variation to be declared a winner by your testing platforms. The way you approach data-driven decision-making will never be the same.
Study GuideACC561 Version 51Week 3 Study Guide Product Cos.docx
Study Guide
ACC/561 Version 5
1Week 3 Study Guide: Product CostingReadings and Key Terms
· Ch. 15 of Accounting
· Cost accounting
· Job cost sheet
· Job order cost system
· Process cost system
· Hybrid cost system
· Ch. 16
· Process costing
· Conversion costs
· Equivalent units
· Cost reconciliation sheet
· Weighted average and FIFO methods
· Ch. 17
· Activity
· Cost pool
· Cost driver
· Just-in-time processing
Content Overview
· Cost accounting systems
· Companies must know the cost of their products to ensure they are pricing their product appropriately to cover costs and be profitable. Product costs have three elements: direct materials, direct labor, and manufacturing overhead. In contrast, companies will have other costs that do not relate to production but to sales and administration. These costs are called period costs because they relate more to the fiscal year than to the products. Period costs are fully expensed in a fiscal year while product costs may be capitalized as inventory. To be profitable in the long-run, a company must cover all its costs—both product and period costs.
· Job order costing
· This is used by companies that make products or provide services that are individually unique, such as a custom print order, an accounting job, or custom furniture. A job order costing system will accumulate product costs—direct materials, direct labor, and manufacturing overhead—by individual job using a job cost sheet.
· Process costing
· This is used by companies that manufacture homogenous products such as petroleum, milk, and mass production automobiles. A process costing system will accumulated product costs—direct materials, direct labor, and manufacturing overhead—by process or by department.
· Hybrid costing
· Hybrid costing also called operations costing is a combination of job order and process costing used by companies that make products that have some customized and individualized features.
· Activity-based costing
· Activity-based costing is a modern method of accounting for product costs. It uses technology to more accurately allocate manufacturing overhead to products. In doing so, it can help a company increase profits.
· Cost accounting systems
· Cost accounting systems are designed to accurately compute the costs of products and services so company managers can make informed decisions as to pricing, production, and cost management.
Copyright © 2013, 2011, 2009, 2008 by University of Phoenix. All rights reserved.
Instructions
Remember to use 200 words to respond the two peers.
Each feedback has to have two quotations from the book
The feedback should be agree or not agree with the peers writing .and why you are agree or not .
Peer one
Q1.What are the prescribed instructional events that comprise an e3 strategy for each of the five types of component skills?
For an effective e3 instructional strategy, every component skill that is included makes the achievement of the goal easy. The instruction.
Research Design and Validity
This document summarizes a research study on complex problem solving using a computer simulation called Syntex. The study involved 54 students from Zhejiang University divided into 18 groups. The groups made management decisions for a simulated company each month. The researchers found differences between the "best" and "worst" groups based on company performance. Best groups increased capital and hired more employees over time compared to worst groups. The researchers also analyzed decision making processes and information gathering between the groups. They explored perspectives including the problem solving process, group interactions, and cross-cultural differences. The document discusses research design, validity, variables measured, and limitations of generalizing the results.
Model validation strategies ftc 2018
Explains the concept of autovalidation that can be used to select predictive models with data from designed experiments where a true validation set is not available. Contains three case studies to demonstrate the approach
Marakas-Ch04-Saif Week 04.ppt
This chapter discusses modeling decision processes and decision support systems. It covers the typical modeling process of identifying a problem, analyzing requirements, and identifying variables and relationships. Common error in problem definition is premature focus on solutions rather than fully defining the problem. Tools for structuring problems include influence diagrams and decision trees. Probability can be estimated through frequency, subjectively, or through logic. Techniques for forecasting probabilities include direct estimation, odds forecasting, and comparison forecasting. Sensitivity analysis and value analysis are also discussed.
Wip 13
This document discusses approaches to optimizing discrete-event simulation models over the past 20 years. While computational power has increased, recent literature shows a lack of new approaches and a widening divide between simulation modeling, optimization, and implementing improvements. The document proposes two areas for advancing the field: 1) integrating simulation optimization dynamically into operations rather than as a static tool, and 2) developing intelligent interfaces that can recognize input parameters and select appropriate optimization algorithms for specific problems.
Experimental design
Experimental design involves purposefully introducing changes or treatments to observe their effects. The document discusses key aspects of experimental design, including:
1. Selecting subjects and assigning them to treatment or control groups to measure the effect of changes.
2. Considering factors like the type and amount of information desired, questions the design will and won't answer, and costs when selecting a design.
3. Key terminology like treatment, control, variables, randomness, and validity that are important to experimental design.
ISA Edits 1-14
This document introduces a series of editorials on measuring the value of measurement and instrumentation. It poses a series of questions to define the scope and significance of assessing the performance and financial value of various aspects of measurement and control systems. The questions probe why we measure certain properties, how measurement is used, and how to determine if measurement and the instruments used provide value or not. The overarching goal is to develop a standardized, quantitative method for evaluating the value of measurement, instruments, control systems, and related technologies.
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Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
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Mat 540 quiz 1
- 1. MAT 540 Quiz 1 buy here http://finishedexams.com/MAT_540_ Quiz_1.php www.finishedexams.com Immediate access to solutions for ENTIRE COURSES, FINAL EXAMS and HOMEWORKS “RATED A+" - Without Registration!
- 2. * Click Buy Answer and complete the checkout process, an email will be immediately sent to you with a key (password) to have access to the answers. 1. The term decision analysis refers to testing how a problem solution reacts to changes in one or more of the model parameters. True False 2. Fixed costs depend on the number of items produced. True False 3. Total cost equal the fixed cost plus the variable cost per unit divided by volume. True False Total cost= fixed cost+(variable cost per unit multiplied by volume) 4. Profit is the difference between total revenue and total cost. True False Profit = Revenue - Cost. 5. An experiment is an activity that results in one of several possible outcomes. True False 6. Variable costs are independent of volume and remain constant. True False 7. The events in an experiment are mutually exclusive if only one can occur at a time. True False 8. The probabilities of mutually exclusive events sum to zero. True False 9. A model is a functional relationship and include: variables parameters equations all of the above 10. Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model? decision variable. data an objective function. a constraint. a parameter. 11. In a given experiment, the probabilities of all mutually exclusive events sum to one. True False 12. Which of the following is not an alternative name for management science? decision sciences quantitative methods quantitative analysis operations research decision support systems
- 3. 13. The steps of the scientific method are: problem definition, model construction, observation, model solution, implementation. observation, problem definition, model construction, model solution, implementation. model construction, problem definition, observation, model solution, implementation. observation, implementation, problem definition, model construction, model solution. 14. A frequency distribution is an organization of numerical data about the events in an experiment. True False 15. A set of events is collectively exhaustive when it includes __ the events that can occur in an experiment. some of one of all any of 16. Objective probabilities that can be stated prior to the occurrence of an event are subjective a priori classical or a priori none of the above 17. Which of the following is incorrect with respect to the use of models in decision making? they improve understanding of the problem they promote subjectivity in decision making they are generally easy to use they provide a systematic approach to problem solving 18. In a given experiment the probabilities of mutually exclusive events sum to 0 0.5 1 none of the above 19. A __ probability is the probability that two or more events that are not mutually exclusive can occur simultaneously. joint marginal subjective binomial 20. __ techniques include uncertainty and assume that there can be more than one model solution. Deterministic Probabilistic