992 words - 4 pages

Quiz 1 Math 540

Question 1

2 out of 2 points

Probabilistic techniques assume that no uncertainty exists in model parameters.

Answer

Selected Answer: False

Correct Answer: False

• Question 2

0 out of 2 points

If variable costs increase, but price and fixed costs are held constant, the break even point will decrease.

Answer

Selected Answer: True

Correct Answer: False

• Question 3

2 out of 2 points

In general, an increase in price increases the break even point if all costs are held constant.

Answer

Selected Answer: False

Correct Answer: False

• Question 4

2 out of 2 points

Parameters are known, ...view middle of the document...

Each unit of part # 2206 is sold for $15. The unit production cost of part # 2206 is $3. The fixed monthly cost of operating the production facility is $3000. How many units of part # 2206 have to be sold in a month to break-even?

Answer

Selected Answer:

250

Correct Answer:

250

• Question 11

0 out of 2 points

A university is planning a seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even?

Answer

Selected Answer:

120

Correct Answer:

175

• Question 12

0 out of 2 points

In a binomial distribution, for each of n trials, the event

Answer

Selected Answer:

trials are continuous

Correct Answer:

always has the same probability of occurring

• Question 13

2 out of 2 points

The area under the normal curve represents probability, and the total area under the curve sums to

Answer

Selected Answer:

1

Correct Answer:

1

• Question 14

0 out of 2 points

The expected value of the standard normal distribution is equal to

Answer

Selected Answer:

1

Correct Answer:

0

• Question 15

2 out of 2 points

A production run of toothpaste requires a fixed cost of $100,000. The variable cost per unit is $3.00. If 50,000 units of toothpaste will be sold during the next month, what sale price must be chosen in order to break even at the end of the month? Note: please report the result as a whole number, rounding if necessary and omitting the decimal point.

Answer

Selected Answer: 5

Correct Answer:

Evaluation Method Correct Answer Case Sensitivity

Exact Match $5

Exact Match 5

• Question 16

0 out of 2 points

Administrators at a university are planning to offer a summer seminar. The costs of reserving a room, hiring an instructor, and bringing in the equipment amount to $3000.

Suppose that it costs $25 per student for the administrators to...

Beat writer's block and start your paper with the best examples