This document contains 40 multiple choice questions from a MAT 540 midterm exam covering topics like probability, random variables, forecasting, and simulation. It tests concepts such as determining the expected value, calculating probabilities, identifying characteristics of time series data, and using forecasting methods like exponential smoothing and regression analysis. The questions are drawn from chapters on deterministic techniques, decision analysis, forecasting, and simulation.
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1. According to the empirical rules, approximately 99.7 of the ob.docxhyacinthshackley2629
1. According to the empirical rules, approximately 99.7% of the observations will fall within ________. (Points : 2)
one standard deviation of the mean
two standard deviations of the mean
three standard deviations of the mean
four standard deviations of the mean
2. Numerical facts and figures that are collected through some type of measurement process are called ________. (Points : 2)
statistics
metric
information
variables
3. Which of the following functions is used to find the smallest value in a range of cells using Microsoft Excel? (Points : 2)
MAX(range)
MIN(range)
SUM(range)
AVERAGE(range)
4. A metric that is derived from counting something is called a(n) ________ metric. (Points : 2)
continuous
nominal
discrete
ordinal
5. Which of the following principles underlie statistical thinking? (Points : 2)
All work occurs in a system of interconnected processes.
All processes are identical without any degree of variation.
Better performance results from increasing variation.
Variations in measurement will not occur unless there are variations in the true values.
6. Outcomes such as customer satisfaction and dissatisfaction, complaints and complaint resolution, and customer perceived value would be considered ________ outcomes. (Points : 2)
customer-focused
workforce-focused
product and process
leadership and governance
7. A distribution that is relatively flat with a wide degree of dispersion has a coefficient of kurtosis that is ________. (Points : 2)
more than 3
less than 3
less than 6
more than 6
8. The correlation coefficient is a number between ________. (Points : 2)
0 and +1
-1 and 0
-1 and +1
-2 and +2
9. The number of phone calls coming into a switchboard in the next five minutes will either be 0, 1, 2, 3, 4, 5, or 6. The probabilities are the same for each of these (1/7). If X is the number of calls arriving in a five-minute time period, what is the mean of X? (Points : 2)
2
3
4
5
10. If two events are mutually exclusive, then (Points : 2)
their probabilities can be added.
the joint probability is equal to 0.
if one occurs, the other cannot occur.
All of the above
11. A discrete random variable has a mean of 400 and a variance of 64. What is the standard deviation? (Points : 2)
64
8
20
400
12. Suppose that, historically, April has experienced rain and a temperature between 35 and 50 degrees on 20 days. Also, historically, the month of April has had a temperature between 35 and 50 degrees on 25 days. You have scheduled a golf tournament for April 12. If the temperature is between 35 and 50 degrees on that day, what will be the probability that the players will get wet? (Points : 2)
0.333
0.667
0.800
1.
As mentioned earlier, the mid-term will have conceptual and quanti.docxfredharris32
As mentioned earlier, the mid-term will have conceptual and quantitative multiple-choice questions. You need to read all 4 chapters and you need to be able to solve problems in all 4 chapters in order to do well in this test.
The following are for review and learning purposes only. I am not indicating that identical or similar problems will be in the test. As I have indicated in the class syllabus, all the exams in this course will have multiple-choice questions and problems.
Suggestion: treat this review set as you would an actual test. Sit down with your one page of notes and your calculator, and give it a try. That way you will know what areas you still need to study.
ADMN 210
Answers to Review for Midterm #1
1) Classify each of the following as nominal, ordinal, interval, or ratio data.
a. The time required to produce each tire on an assembly line – ratio since it is numeric with a valid 0 point meaning “lack of”
b. The number of quarts of milk a family drinks in a month - ratio since it is numeric with a valid 0 point meaning “lack of”
c. The ranking of four machines in your plant after they have been designated as excellent, good, satisfactory, and poor – ordinal since it is ranking data only
d. The telephone area code of clients in the United States – nominal since it is a label
e. The age of each of your employees - ratio since it is numeric with a valid 0 point meaning “lack of”
f. The dollar sales at the local pizza house each month - ratio since it is numeric with a valid 0 point meaning “lack of”
g. An employee’s identification number – nominal since it is a label
h. The response time of an emergency unit - ratio since it is numeric with a valid 0 point meaning “lack of”
2) True or False: The highest level of data measurement is the ratio-level measurement.
True (you can do the most powerful analysis with this kind of data)
3) True or False: Interval- and ratio-level data are also referred to as categorical data.
False (Interval and ratio level data are numeric and therefore quantitative, NOT qualitative….Nominal is qualitative)
4) A small portion or a subset of the population on which data is collected for conducting statistical analysis is called __________.
A sample! A population is the total group, a census IS the population, and a data set can be either a sample or a population.
5) One of the advantages for taking a sample instead of conducting a census is this:
a sample is more accurate than census
a sample is difficult to take
a sample cannot be trusted
a sample can save money when data collection process is destructive
6) Selection of the winning numbers is a lottery is an example of __________.
convenience sampling
random sampling
nonrandom sampling
regulatory sampling
7) A type of random sampling in which the population is divided into non-overlapping subpopulations is called __________.
stratified random sampling
cluster sampling
systematic random sampling
regulatory sampling
8) A ...
Instructions This is an open-book exam. You may refer to you.docxdirkrplav
Instructions:
This is an open-book exam. You may refer to your text and other course materials as you work on the exam, and you may use a calculator.
Record your answers and work in this document.
There are 25 problems.
Problems #1-12 are multiple choice. Record your choice for each problem.
Problems #13-15 are short answer. Record your answer for each problem.
Problems #16-25 are short answer with work required when directed. When requested, show all work and write all answers in the spaces allotted on the following pages. You may type your work using plain-text formatting or an equation editor, or you may hand-write your work and scan it. In either case, show work neatly and correctly, following standard mathematical conventions. Each step should follow clearly and completely from the previous step. If necessary, you may attach extra pages.
MULTIPLE CHOICE. Record your answer choices.
1.7.
2.8.
3.9.
4.10.
5.11.
6.12.
SHORT ANSWER. Record your answers below.
13. (a)
(b)
(c)
(d)
14. (a)
(b)
(c)
15. (a)
(b)
(c)
SHORT ANSWER with Work Shown. Record your answers and work.
Problem Number
Solution
16
Answers:
(a)
(b)
(c)
Work for (a), (b), and (c):
17
Answer:
Work:
18
Answer:
Work:
19
Answers:
(a)
(b)
(c)
Work for (a) and (b):
20
Answer:
Work:
21
Answer:
Work:
22
Answer:
Work:
23
Answers:
(a)
(b)
(c)
(d)
Work for (b), (c), and (d):
24
Answer:
Work:
25
Answers:
(a)
(b) Region I:
Region II:
Region III:
Region IV:
Work:
MATH 106 Finite Mathematics 2148-OL4-7983-3D
Page 1 of 10
MATH 106 FINAL EXAMINATION
This is an open-book exam. You may refer to your text and other course materials as you work
on the exam, and you may use a calculator. You must complete the exam individually.
Neither collaboration nor consultation with others is allowed. Use of instructors’ solutions
manuals or online problem solving services in NOT allowed.
Record your answers and work on the separate answer sheet provided.
There are 25 problems.
Problems #1–12 are Multiple Choice.
Problems #13–15 are Short Answer. (Work not required to be shown)
Problems #16–25 are Short Answer with work required to be shown.
MULTIPLE CHOICE
1. – 2. Amalgamated Furniture Company makes dining room tables and chairs. A table requires
8 labor-hours for assembling and 2 labor-hours for finishing. A chair requires 2 labor-hours for
assembly and 1 labor-hour for finishing. The maximum labor-hours available per day for
assembling and finishing are 400 and 120, respectively. Production costs are $600 per table and
$150 per chair. Let x represent number of tables and y represent number of chairs made per day.
1. Identify the daily production constraint for finishing:
.
For more course tutorials visit
www.newtonhelp.com
MAT 510 Final Exam Set 1
Question 1
Improvement is needed for an organization to survive because:
Question 2
The Statistical Thinking Strategy has significant commonality with the scientific method. Which of the following statistical thinking principles is NOT generally associated with the scientific method?
Question 3
Strayer pad 505 assignment 3 presenting the budget newcharlesangles123
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Strayer pad 505 assignment 1 the operating budget newcharlesangles123
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Stayer pad 505 assignment 3 presenting the budget newcharlesangles123
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Stayer pad 505 assignment 1 the operating budget newcharlesangles123
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mat 300,strayer mat 300,mat 300 entire course new,mat 300 discussion questions,strayer mat 300 week 1,strayer mat 300 week 2,strayer mat 300 week 3,strayer mat 300 week 4,strayer mat 300 week 5,mat 300 case study,mat 300 discussion correlation and regression,mat 300 graphical representations,strayer mat 300 tutorials,strayer mat 300 assignments,mat 300 help
1. According to the empirical rules, approximately 99.7 of the ob.docxhyacinthshackley2629
1. According to the empirical rules, approximately 99.7% of the observations will fall within ________. (Points : 2)
one standard deviation of the mean
two standard deviations of the mean
three standard deviations of the mean
four standard deviations of the mean
2. Numerical facts and figures that are collected through some type of measurement process are called ________. (Points : 2)
statistics
metric
information
variables
3. Which of the following functions is used to find the smallest value in a range of cells using Microsoft Excel? (Points : 2)
MAX(range)
MIN(range)
SUM(range)
AVERAGE(range)
4. A metric that is derived from counting something is called a(n) ________ metric. (Points : 2)
continuous
nominal
discrete
ordinal
5. Which of the following principles underlie statistical thinking? (Points : 2)
All work occurs in a system of interconnected processes.
All processes are identical without any degree of variation.
Better performance results from increasing variation.
Variations in measurement will not occur unless there are variations in the true values.
6. Outcomes such as customer satisfaction and dissatisfaction, complaints and complaint resolution, and customer perceived value would be considered ________ outcomes. (Points : 2)
customer-focused
workforce-focused
product and process
leadership and governance
7. A distribution that is relatively flat with a wide degree of dispersion has a coefficient of kurtosis that is ________. (Points : 2)
more than 3
less than 3
less than 6
more than 6
8. The correlation coefficient is a number between ________. (Points : 2)
0 and +1
-1 and 0
-1 and +1
-2 and +2
9. The number of phone calls coming into a switchboard in the next five minutes will either be 0, 1, 2, 3, 4, 5, or 6. The probabilities are the same for each of these (1/7). If X is the number of calls arriving in a five-minute time period, what is the mean of X? (Points : 2)
2
3
4
5
10. If two events are mutually exclusive, then (Points : 2)
their probabilities can be added.
the joint probability is equal to 0.
if one occurs, the other cannot occur.
All of the above
11. A discrete random variable has a mean of 400 and a variance of 64. What is the standard deviation? (Points : 2)
64
8
20
400
12. Suppose that, historically, April has experienced rain and a temperature between 35 and 50 degrees on 20 days. Also, historically, the month of April has had a temperature between 35 and 50 degrees on 25 days. You have scheduled a golf tournament for April 12. If the temperature is between 35 and 50 degrees on that day, what will be the probability that the players will get wet? (Points : 2)
0.333
0.667
0.800
1.
As mentioned earlier, the mid-term will have conceptual and quanti.docxfredharris32
As mentioned earlier, the mid-term will have conceptual and quantitative multiple-choice questions. You need to read all 4 chapters and you need to be able to solve problems in all 4 chapters in order to do well in this test.
The following are for review and learning purposes only. I am not indicating that identical or similar problems will be in the test. As I have indicated in the class syllabus, all the exams in this course will have multiple-choice questions and problems.
Suggestion: treat this review set as you would an actual test. Sit down with your one page of notes and your calculator, and give it a try. That way you will know what areas you still need to study.
ADMN 210
Answers to Review for Midterm #1
1) Classify each of the following as nominal, ordinal, interval, or ratio data.
a. The time required to produce each tire on an assembly line – ratio since it is numeric with a valid 0 point meaning “lack of”
b. The number of quarts of milk a family drinks in a month - ratio since it is numeric with a valid 0 point meaning “lack of”
c. The ranking of four machines in your plant after they have been designated as excellent, good, satisfactory, and poor – ordinal since it is ranking data only
d. The telephone area code of clients in the United States – nominal since it is a label
e. The age of each of your employees - ratio since it is numeric with a valid 0 point meaning “lack of”
f. The dollar sales at the local pizza house each month - ratio since it is numeric with a valid 0 point meaning “lack of”
g. An employee’s identification number – nominal since it is a label
h. The response time of an emergency unit - ratio since it is numeric with a valid 0 point meaning “lack of”
2) True or False: The highest level of data measurement is the ratio-level measurement.
True (you can do the most powerful analysis with this kind of data)
3) True or False: Interval- and ratio-level data are also referred to as categorical data.
False (Interval and ratio level data are numeric and therefore quantitative, NOT qualitative….Nominal is qualitative)
4) A small portion or a subset of the population on which data is collected for conducting statistical analysis is called __________.
A sample! A population is the total group, a census IS the population, and a data set can be either a sample or a population.
5) One of the advantages for taking a sample instead of conducting a census is this:
a sample is more accurate than census
a sample is difficult to take
a sample cannot be trusted
a sample can save money when data collection process is destructive
6) Selection of the winning numbers is a lottery is an example of __________.
convenience sampling
random sampling
nonrandom sampling
regulatory sampling
7) A type of random sampling in which the population is divided into non-overlapping subpopulations is called __________.
stratified random sampling
cluster sampling
systematic random sampling
regulatory sampling
8) A ...
Instructions This is an open-book exam. You may refer to you.docxdirkrplav
Instructions:
This is an open-book exam. You may refer to your text and other course materials as you work on the exam, and you may use a calculator.
Record your answers and work in this document.
There are 25 problems.
Problems #1-12 are multiple choice. Record your choice for each problem.
Problems #13-15 are short answer. Record your answer for each problem.
Problems #16-25 are short answer with work required when directed. When requested, show all work and write all answers in the spaces allotted on the following pages. You may type your work using plain-text formatting or an equation editor, or you may hand-write your work and scan it. In either case, show work neatly and correctly, following standard mathematical conventions. Each step should follow clearly and completely from the previous step. If necessary, you may attach extra pages.
MULTIPLE CHOICE. Record your answer choices.
1.7.
2.8.
3.9.
4.10.
5.11.
6.12.
SHORT ANSWER. Record your answers below.
13. (a)
(b)
(c)
(d)
14. (a)
(b)
(c)
15. (a)
(b)
(c)
SHORT ANSWER with Work Shown. Record your answers and work.
Problem Number
Solution
16
Answers:
(a)
(b)
(c)
Work for (a), (b), and (c):
17
Answer:
Work:
18
Answer:
Work:
19
Answers:
(a)
(b)
(c)
Work for (a) and (b):
20
Answer:
Work:
21
Answer:
Work:
22
Answer:
Work:
23
Answers:
(a)
(b)
(c)
(d)
Work for (b), (c), and (d):
24
Answer:
Work:
25
Answers:
(a)
(b) Region I:
Region II:
Region III:
Region IV:
Work:
MATH 106 Finite Mathematics 2148-OL4-7983-3D
Page 1 of 10
MATH 106 FINAL EXAMINATION
This is an open-book exam. You may refer to your text and other course materials as you work
on the exam, and you may use a calculator. You must complete the exam individually.
Neither collaboration nor consultation with others is allowed. Use of instructors’ solutions
manuals or online problem solving services in NOT allowed.
Record your answers and work on the separate answer sheet provided.
There are 25 problems.
Problems #1–12 are Multiple Choice.
Problems #13–15 are Short Answer. (Work not required to be shown)
Problems #16–25 are Short Answer with work required to be shown.
MULTIPLE CHOICE
1. – 2. Amalgamated Furniture Company makes dining room tables and chairs. A table requires
8 labor-hours for assembling and 2 labor-hours for finishing. A chair requires 2 labor-hours for
assembly and 1 labor-hour for finishing. The maximum labor-hours available per day for
assembling and finishing are 400 and 120, respectively. Production costs are $600 per table and
$150 per chair. Let x represent number of tables and y represent number of chairs made per day.
1. Identify the daily production constraint for finishing:
.
For more course tutorials visit
www.newtonhelp.com
MAT 510 Final Exam Set 1
Question 1
Improvement is needed for an organization to survive because:
Question 2
The Statistical Thinking Strategy has significant commonality with the scientific method. Which of the following statistical thinking principles is NOT generally associated with the scientific method?
Question 3
Strayer pad 505 assignment 3 presenting the budget newcharlesangles123
stayer pad 505 assignment 3 presenting the budget new,stayer pad 505 assignment 3,pad 505 assignment 3,stayer pad 505 assignment 3 tutorial,stayer pad 505 assignment 3 assignment,stayer pad 505 assignment 3 help
Strayer pad 505 assignment 1 the operating budget newcharlesangles123
stayer pad 505 assignment 1 the operating budget new,pad 505 assignment 1,stayer pad 505 assignment 1 tutorial,stayer pad 505 assignment 1 assignment,stayer pad 505 assignment 1 help
Stayer pad 505 assignment 3 presenting the budget newcharlesangles123
stayer pad 505 assignment 3 presenting the budget new,stayer pad 505 assignment 3,pad 505 assignment 3,stayer pad 505 assignment 3 tutorial,stayer pad 505 assignment 3 assignment,stayer pad 505 assignment 3 help
Stayer pad 505 assignment 1 the operating budget newcharlesangles123
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Ash edu 644 week 3 dq 2 tale of two cities and homelessnesscharlesangles123
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Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
"Protectable subject matters, Protection in biotechnology, Protection of othe...
Strayer mat 540 midterm exam
1. STRAYER MAT 540 Midterm Exam (5 Sets) NEW
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Question 1 Deterministic techniques assume that no
uncertainty exists in model parameters.
Question 2 A joint probability is the probability that two or
more events that are mutually exclusive can occur
simultaneously.
Question 3 A continuous random variable may assume only
integer values within a given interval.
Question 4 A decision tree is a diagram consisting of circles
decision nodes, square probability nodes, and branches.
Question 5 Simulation results will always equal analytical
results if 30 trials of the simulation have been conducted.
Question 6 Excel can only be used to simulate systems that
can be represented by continuous random variables.
Question 7 Data cannot exhibit both trend and cyclical
patterns.
Question 8 The Delphi develops a consensus forecast about
what will occur in the future.
2. Question 9 In Bayesian analysis, additional information is
used to alter the __________ probability of the occurrence of an
event.
Question 10 __________ is a measure of dispersion of random
variable values about the expected value.
Question 11 The __________ is the maximum amount a decision
maker would pay for additional information.
Question 12 Developing the cumulative probability
distribution helps to determine
Question 13 A seed value is a(n)
Question 14 Pseudorandom numbers exhibit __________ in order
to be considered truly random.
Question 15 Consider the following frequency of demand:
If the simulation begins with 0.8102, the simulated value for
demand would be
Question 16 __________ is a linear regression model relating
demand to time.
Question 17 worth 2 points, 1 hour time limit (chapters 1,ue
units EXCEPT:The U.S. Department of Agriculture estimates that
the yearly yield of limes per acre is distributed as follows:
Yield, bushels per acre Probability
350 .10
400 .18
3. 450 .50
500 .22
The estimated average price per bushel is $16.80.
What is the expected yield of the crop?
Question 18 __________ methods are the most common type of
forecasting method for the long-term strategic planning
process.
Question 19 In exponential smoothing, the closer alpha is to
__________, the greater the reaction to the most recent demand.
Question 20 Given the following data on the number of pints
of ice cream sold at a local ice cream store for a 6-period time
frame:
If the forecast for period 5 is equal to 275, use exponential
smoothing with α = .40 to compute a forecast for period 7.
Question 21
Question 22 Coefficient of determination is the percentage of
the variation in the __________ variable that results from the
__________ variable.
Question 23 Which of the following possible values of alpha
would cause exponential smoothing to respond the most slowly
4. to sudden changes in forecast errors?
Question 24 Consider the following demand and forecast.
Period Demand Forecast
1 7 10
2 12 15
3 18 20
4 22
If MAD = 2, what is the forecast for period 4?
Question 25 An automotive center keeps tracks of customer
complaints received each week. The probability distribution
for complaints can be represented as a table or a graph, both
shown below. The random variable xi represents the number of
complaints, and p(xi) is the probability of receiving xi
complaints.
xi 0 1 2 3 4 5 6
p(xi) .10 .15 .18 .20 .20 .10 .07
What is the average number of complaints received per week?
Round your answer to two places after the decimal.
Question 26 An online sweepstakes has the following payoffs
and probabilities. Each person is limited to one entry.
The probability of winning at least $1,000.00 is ________.
Question 27 A fair die is rolled 8 times. What is the probability
that an even number (2,4, 6) will occur between 2 and 4 times?
Round your answer to four places after the decimal.
5. Question 28 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.
Question 29 The local operations manager for the IRS must
decide whether to hire 1, 2, or 3 temporary workers. He
estimates that net revenues will vary with how well taxpayers
comply with the new tax code. The following payoff table is
given in thousands of dollars (e.g. 50 = $50,000).
If he uses the maximin criterion, how many new workers will
he hire?
Question 30 An investor is considering 4 different
opportunities, A, B, C, or D. The payoff for each opportunity will
depend on the economic conditions, represented in the payoff
table below.
Economic Condition
Poor Average Good Excellent
Investment (S1) (S2) (S3) (S4)
A 50 75 20 30
B 80 15 40 50
C -100 300 -50 10
D 25 25 25 25
If the probabilities of each economic condition are 0.5, 0.1, 0.35,
6. and 0.05 respectively, what is the highest expected payoff?
Question 31 A normal distribution has a mean of 500 and a
standard deviation of 50. A manager wants to simulate one
value from this distribution, and has drawn the number 1.4
randomly. What is the simulated value?
Question 32 Consider the following annual sales data for 2001-
2008.
Calculate the correlation coefficient . Use four significant digits
after the decimal.
Question 33 The following data summarizes the historical
demand for a product.
Use exponential smoothing with α = .2 and the smoothed
forecast for July is 32. Determine the smoothed forecast for
August.
Question 34 Robert wants to know if there is a relation
between money spent on gambling and winnings.
What is the coefficient of determination? Note: please report
your answer with 2 places after the decimal point.
Question 35 Given the following data on the number of pints
of ice cream sold at a local ice cream store for a 6-period time
frame:
7. Compute a 3-period moving average for period 6. Use two
places after the decimal.
Question 36 Given the following data, compute the MAD for the
forecast.
Question 37 Given the following data on the number of pints of
ice cream sold at a local ice cream store for a 6-period time
frame:
Compute a 3-period moving average for period 4. Use two
places after the decimal.
Question 38 The following sales data are available for 2003-
2008 :
Calculate the absolute value of the average error. Use three
significant digits after the decimal.
Question 39 The following data summarizes the historical
demand for a product
If the forecasted demand for June, July and August is 32, 38 and
42, respectively, what is MAPD? Write your answer in decimal
form and not in percentages. For example, 15% should be
written as 0.15. Use three significant digits after the decimal.
Question 40 This is the data from the last 4 weeks:
Use the equation of the regression line to forecast the increased
8. sales for when the number of ads is 10.
MAT 540 Midterm Exam Set 2
Question 1 Deterministic techniques assume that no
uncertainty exists in model parameters.
Question 2 A joint probability is the probability that two or
more events that are mutually exclusive can occur
simultaneously.
Question 3 An inspector correctly identifies defective products
90% of the time. For the next 10 products, the probability that
he makes fewer than 2 incorrect inspections is 0.736.
Question 4 A decision tree is a diagram consisting of circles
decision nodes, square probability nodes, and branches.
Question 5 Starting conditions have no impact on the validity
of a simulation model.
Question 6 Excel can only be used to simulate systems that can
be represented by continuous random variables.
Question 7 Data cannot exhibit both trend and cyclical
patterns.
Question 8 Qualitative methods are the least common type of
forecasting method for the long-term strategic planning
9. process.
Question 9 __________ is a measure of dispersion of random
variable values about the expected value.
Question 10 In Bayesian analysis, additional information is
used to alter the __________ probability of the occurrence of an
event.
Question 11 The __________ is the expected value of the regret for
each decision.
Question 12 Developing the cumulative probability
distribution helps to determine
Question 13 A seed value is a(n)
Question 14 In the Monte Carlo process, values for a random
variable are generated by __________ a probability distribution.
Question 15 Two hundred simulation runs were completed
using the probability of a machine breakdown from the table
below. The average number of breakdowns from the
simulation trials was 1.93 with a standard deviation of 0.20.
Question 16 In exponential smoothing, the closer alpha is to
__________, the greater the reaction to the most recent demand.
Question 17 __________ is absolute error as a percentage of
demand.
10. Question 18 __________ is a category of statistical techniques that
uses historical data to predict future behavior.
Question 19 Worth 2 points, 1 hour time limit (chapters 1,ue
units EXCEPT:The U.S. Department of Agriculture estimates that
the yearly yield of limes per acre is distributed as follows:
The estimated average price per bushel is $16.80.
What is the expected yield of the crop?
Question 20 __________ is a linear regression model relating
demand to time.
Question 21 Which of the following possible values of alpha
would cause exponential smoothing to respond the most slowly
to sudden changes in forecast errors?
Question 23 __________ is the difference between the forecast and
actual demand.
Question 24 __________ methods are the most common type of
forecasting method for the long-term strategic planning
process.
Question 25 A loaf of bread is normally distributed with a
mean of 22 oz and a standard deviation of 0.5 oz. What is the
probability that a loaf is larger than 21 oz? Round your answer
to four places after the decimal.
Question 26 An online sweepstakes has the following payoffs
and probabilities. Each person is limited to one entry.
11. The probability of winning at least $1,000.00 is ________.
Question 27 A fair die is rolled 8 times. What is the probability
that an even number (2,4, 6) will occur between 2 and 4 times?
Round your answer to four places after the decimal.
Question 28 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.
Question 29 An investor is considering 4 different
opportunities, A, B, C, or D. The payoff for each opportunity will
depend on the economic conditions, represented in the payoff
table below.
If the probabilities of each economic condition are 0.5, 0.1, 0.35,
and 0.05 respectively, what is the highest expected payoff?
Question 30 The local operations manager for the IRS must
decide whether to hire 1, 2, or 3 temporary workers. He
estimates that net revenues will vary with how well taxpayers
comply with the new tax code. The following payoff table is
given in thousands of dollars (e.g. 50 = $50,000).
If he thinks the chances of low, medium, and high compliance
are 20%, 30%, and 50% respectively, what is the expected
value of perfect information? Note: Please express your
answer as a whole number in thousands of dollars (e.g. 50 =
12. $50,000). Round to the nearest whole number, if necessary.
Question 31 Given the following random number ranges and
the following random number sequence: 62, 13, 25, 40, 86, 93,
determine the average demand for the following distribution of
demand.
Question 32 The following data summarizes the historical
demand for a product
If the forecasted demand for June, July and August is 32, 38 and
42, respectively, what is MAPD? Write your answer in decimal
form and not in percentages. For example, 15% should be
written as 0.15. Use three significant digits after the decimal.
Question 33 The following data summarizes the historical
demand for a product.
Use exponential smoothing with α = .2 and the smoothed
forecast for July is 32. Determine the smoothed forecast for
August.
Question 34 Daily highs in Sacramento for the past week (from
least to most recent) were: 95, 102, 101, 96, 95, 90 and 92.
Develop a forecast for today using a 2 day moving average.
Question 35 Robert wants to know if there is a relation
between money spent on gambling and winnings.
What is the coefficient of determination? Note: please report
your answer with 2 places after the decimal point.
13. Question 36 This is the data from the last 4 weeks:
Use the equation of the regression line to forecast the increased
sales for when the number of ads is 10.
Question 37 Daily highs in Sacramento for the past week (from
least to most recent) were: 95, 102, 101, 96, 95, 90 and 92.
Develop a forecast for today using a weighted moving average,
with weights of .6, .3 and .1, where the highest weights are
applied to the most recent data.
Question 38 Given the following data, compute the MAD for the
forecast.
Year Demand Forecast
Question 39 Given the following data on the number of pints of
ice cream sold at a local ice cream store for a 6-period time
frame:
Compute a 3-period moving average for period 6. Use two
places after the decimal.
Question 40 Given the following data on the number of pints of
ice cream sold at a local ice cream store for a 6-period time
frame:
Compute a 3-period moving average for period 4. Use two
places after the decimal.
MAT 540 Midterm Exam Set 3
14. Question 1 Deterministic techniques assume that no
uncertainty exists in model parameters.
Question 2 An inspector correctly identifies defective
products 90% of the time. For the next 10 products, the
probability that he makes fewer than 2 incorrect inspections is
0.736.
Question 3 A continuous random variable may assume only
integer values within a given interval.
Question 4 A decision tree is a diagram consisting of circles
decision nodes, square probability nodes, and branches.
Question 5 Excel can only be used to simulate systems that can
be represented by continuous random variables.
Question 6 A table of random numbers must be normally
distributed and efficiently generated.
Question 7 The Delphi develops a consensus forecast about
what will occur in the future.
Question 8 Data cannot exhibit both trend and cyclical
patterns.
Question 9 In Bayesian analysis, additional information is
used to alter the __________ probability of the occurrence of an
event.
Question 10 __________ is a measure of dispersion of random
variable values about the expected value.
15. Question 11 The __________ is the maximum amount a decision
maker would pay for additional information.
Question 12 Pseudorandom numbers exhibit __________ in order
to be considered truly random.
Question 13 Developing the cumulative probability
distribution helps to determine
Question 14 Consider the following frequency of demand:
If the simulation begins with 0.8102, the simulated value for
demand would be
Question 15 Random numbers generated by a __________
process instead of a __________ process are pseudorandom
numbers.
Question 16 __________ is a category of statistical techniques
that uses historical data to predict future behavior.
Question 17 Given the following data on the number of pints
of ice cream sold at a local ice cream store for a 6-period time
frame:
If the forecast for period 5 is equal to 275, use exponential
smoothing with α = .40 to compute a forecast for period 7.
Question 18 Consider the following graph of sales.
Which of the following characteristics is exhibited by the data?
16. Question 19 Consider the following demand and forecast.
Period Demand Forecast
1 7 10
2 12 15
3 18 20
4 22
If MAD = 2, what is the forecast for period 4?
Question 20 Consider the following graph of sales.
Which of the following characteristics is exhibited by the data?
Question 21 __________ methods are the most common type of
forecasting method for the long-term strategic planning
process.
What is the expected value at node 4? Round your answer to
the nearest whole number. Do not include the dollar sign “$” in
your answer.
Question 31 A normal distribution has a mean of 500 and a
standard deviation of
Question 32 Given the following data on the number of pints
of ice cream sold at a local ice cream store for a 6-period time
frame:
Compute a 3-period moving average for period 6. Use two
places after the decimal.
17. Question 33 The following sales data are available for 2003-
2008.
Determine a 4-year weighted moving average forecast for 2009,
where weights are W1 = 0.1, W2 = 0.2, W3 = 0.2 and W4 = 0.5.
Question 34 The following data summarizes the historical
demand for a product
If the forecasted demand for June, July and August is 32, 38 and
42, respectively, what is MAPD? Write your answer in decimal
form and not in percentages. For example, 15% should be
written as 0.15. Use three significant digits after the decimal.
Question 35 Robert wants to know if there is a relation
between money spent on gambling and winnings.
What is the coefficient of determination? Note: please report
your answer with 2 places after the decimal point.
Question 36 Daily highs in Sacramento for the past week
(from least to most recent) were: 95, 102, 101, 96, 95, 90 and
92. Develop a forecast for today using a 2 day moving average.
Question 37 Consider the following annual sales data for
2001-2008.
Calculate the correlation coefficient . Use four significant digits
after the decimal.
18. Question 38 Daily highs in Sacramento for the past week
(from least to most recent) were: 95, 102, 101, 96, 95, 90 and
92. Develop a forecast for today using a weighted moving
average, with weights of .6, .3 and .1, where the highest weights
are applied to the most recent data.
Question 39 Given the following data on the number of pints
of ice cream sold at a local ice cream store for a 6-period time
frame:
Compute a 3-period moving average for period 4. Use two
places after the decimal.
Question 40 Given the following data, compute the MAD for the
forecast.
MAT 540 Midterm Exam Set 4
Question 1 Deterministic techniques assume that no
uncertainty exists in model parameters.
Question 2 An inspector correctly identifies defective products
90% of the time. For the next 10 products, the probability that
he makes fewer than 2 incorrect inspections is 0.736.
Question 3 A joint probability is the probability that two or
more events that are mutually exclusive can occur
simultaneously.
Question 4 A decision tree is a diagram consisting of circles
decision nodes, square probability nodes, and branches.
19. Question 5 Simulation results will always equal analytical
results if 30 trials of the simulation have been conducted.
Question 6 A table of random numbers must be normally
distributed and efficiently generated.
Question 7 The Delphi develops a consensus forecast about
what will occur in the future.
Question 8 Data cannot exhibit both trend and cyclical
patterns.
Question 9 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. What time is exceeded by
approximately 75% of the college students when trying to find
a parking spot in the main parking lot?
Question 10 In Bayesian analysis, additional information is
used to alter the __________ probability of the occurrence of an
event.
Question 11 The __________ is the expected value of the regret for
each decision.
Question 12 Consider the following frequency of demand:
20. If the simulation begins with 0.8102, the simulated value for
demand would be
Question 13 Pseudorandom numbers exhibit __________ in order
to be considered truly random.
Question 14 Developing the cumulative probability
distribution helps to determine
Question 15 A seed value is a(n)
Question 16 __________ is a measure of the strength of the
relationship between independent and dependent variables.
Question 17 __________ is a linear regression model relating
demand to time.
Question 18 Coefficient of determination is the percentage of
the variation in the __________ variable that results from the
__________ variable.
Question 19 __________ is the difference between the forecast
and actual demand.
Question 20 Consider the following graph of sales.
Which of the following characteristics is exhibited by the data?
Question 21 Given the following data on the number of pints of
ice cream sold at a local ice cream store for a 6-period time
frame:
If the forecast for period 5 is equal to 275, use exponential
21. smoothing with α = .40 to compute a forecast for period 7.
Question 22 worth 2 points, 1 hour time limit (chapters 1,ue
units EXCEPT:The U.S. Department of Agriculture estimates that
the yearly yield of limes per acre is distributed as follows:
Yield, bushels per acre Probability
350 .10
400 .18
450 .50
500 .22
The estimated average price per bushel is $16.80.
What is the expected yield of the crop?
Question 23 __________ methods are the most common type of
forecasting method for the long-term strategic planning
process.
Question 24 __________ is a category of statistical techniques that
uses historical data to predict future behavior.
Question 25 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.
Question 26 A loaf of bread is normally distributed with a
mean of 22 oz and a standard deviation of 0.5 oz. What is the
probability that a loaf is larger than 21 oz? Round your answer
22. to four places after the decimal.
Question 27 The drying rate in an industrial process is
dependent on many factors and varies according to the
following distribution.
Compute the mean drying time. Use two places after the
decimal.
Question 28 An online sweepstakes has the following payoffs
and probabilities. Each person is limited to one entry.
The probability of winning at least $1,000.00 is ________.
Question 29 An investor is considering 4 different
opportunities, A, B, C, or D. The payoff for each opportunity will
depend on the economic conditions, represented in the payoff
table below.
If the probabilities of each economic condition are 0.5, 0.1, 0.35,
and 0.05 respectively, what is the highest expected payoff?
Question 30 The local operations manager for the IRS must
decide whether to hire 1, 2, or 3 temporary workers. He
estimates that net revenues will vary with how well taxpayers
comply with the new tax code.
If he is conservative, how many new workers will he hire?
• Question 31 Consider the following distribution and random
numbers:
If a simulation begins with the first random number, what
would the first simulation value would be __________.
23. • Question 32 This is the data from the last 4 weeks:
Use the equation of the regression line to forecast the increased
sales for when the number of ads is 10.
Question 33 Given the following data on the number of pints of
ice cream sold at a local ice cream store for a 6-period time
frame:
Compute a 3-period moving average for period 4. Use two
places after the decimal.
Question 34 Given the following data, compute the MAD for the
forecast.
Question 35 Consider the following annual sales data for 2001-
2008.
Calculate the correlation coefficient . Use four significant digits
after the decimal.
Question 36 Robert wants to know if there is a relation
between money spent on gambling and winnings.
What is the coefficient of determination? Use two significant
places after the decimal.
Question 37 The following data summarizes the historical
demand for a product
If the forecasted demand for June, July and August is 32, 38 and
42, respectively, what is MAPD? Write your answer in decimal
form and not in percentages. For example, 15% should be
24. written as 0.15. Use three significant digits after the decimal.
Question 38 The following sales data are available for 2003-
2008.
Determine a 4-year weighted moving average forecast for 2009,
where weights are W1 = 0.1, W2 = 0.2, W3 = 0.2 and W4 = 0.5.
Question 39 Daily highs in Sacramento for the past week (from
least to most recent) were: 95, 102, 101, 96, 95, 90 and 92.
Develop a forecast for today using a 2 day moving average.
Question 40 The following sales data are available for 2003-
2008 :
Calculate the absolute value of the average error. Use three
significant digits after the decimal.
MAT 540 Midterm Exam Set 5
Question 1 Deterministic techniques assume that no
uncertainty exists in model parameters.
Question 2 A continuous random variable may assume only
integer values within a given interval.
Question 3 A joint probability is the probability that two or
more events that are mutually exclusive can occur
simultaneously.
Question 4 A decision tree is a diagram consisting of circles
25. decision nodes, square probability nodes, and branches.
Question 5 Excel can only be used to simulate systems that can
be represented by continuous random variables.
Question 6 Starting conditions have no impact on the validity
of a simulation model.
Question 7 Qualitative methods are the least common type of
forecasting method for the long-term strategic planning
process.
Question 8 Data cannot exhibit both trend and cyclical
patterns.
Question 9 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. What time is exceeded by
approximately 75% of the college students when trying to find
a parking spot in the main parking lot?
Question 10 __________ is a measure of dispersion of random
variable values about the expected value.
Question 11 The __________ is the expected value of the regret for
each decision.
Question 12 Consider the following frequency of demand: If
the simulation begins with 0.8102, the simulated value for
demand would be
Question 13 Random numbers generated by a __________
26. process instead of a __________ process are pseudorandom
numbers.
Question 14 Two hundred simulation runs were completed
using the probability of a machine breakdown from the table
below. The average number of breakdowns from the
simulation trials was 1.93 with a standard deviation of 0.20.
No. of breakdowns per week Probability Cumulative
probability
What is the probability of 2 or fewer breakdowns?
Question 15 Pseudorandom numbers exhibit __________ in order
to be considered truly random.
Question 16 __________ is a category of statistical techniques
that uses historical data to predict future behavior.
Question 17 __________ methods are the most common type of
forecasting method for the long-term strategic planning
process.
Question 18 __________ is a linear regression model relating
demand to time.
Question 19 rob 14, and 15)estion worth 2 points, 1 hour time
limit (chapters 1,ue units EXCEPT:The U.S. Department of
Agriculture estimates that the yearly yield of limes per acre is
distributed as follows:
The estimated average price per bushel is $16.80.
What is the expected yield of the crop?
Question 20 In exponential smoothing, the closer alpha is to
__________, the greater the reaction to the most recent demand.
27. Question 21 __________ is absolute error as a percentage of
demand.
Question 22 Consider the following graph of sales. Which of
the following characteristics is exhibited by the data?
Question 23 Which of the following possible values of alpha
would cause exponential smoothing to respond the most slowly
to sudden changes in forecast errors?
Question 24 Given the following data on the number of pints
of ice cream sold at a local ice cream store for a 6-period time
frame:
