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Strayer mat 540 quiz 1

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Quiz 1

• Question 1
Which of the following is incorrect with respect to the use of models in decision making?

• Question 2
The probabilities of mutually exclusive events sum to zero.

• Question 3
The term decision analysis refers to testing how a problem solution reacts to changes in one or more of the model parameters.

• Question 4
Variable costs are independent of volume and remain constant.

• Question 5
A frequency distribution is an organization of numerical data about the events in an experiment.

• Question 6
Objective probabilities that can be stated prior to the occurrence of an event are

• Question 7
A set of events is collectively exhaustive when it includes _______ the events that can occur in an experiment.

• Question 8
Which of the following is not an alternative name for management science?

• Question 9
Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model?

• Question 10
____________ techniques include uncertainty and assume that there can be more than one model solution.

• Question 11
A ___________ probability is the probability that two or more events that are not mutually exclusive can occur simultaneously. 
 
• Question 12
Total cost equal the fixed cost plus the variable cost per unit divided by volume.

• Question 13
Profit is the difference between total revenue and total cost.

• Question 14
The events in an experiment are mutually exclusive if only one can occur at a time.

• Question 15
In a given experiment, the probabilities of all mutually exclusive events sum to one.

• Question 16
An experiment is an activity that results in one of several possible outcomes.

• Question 17
Fixed costs depend on the number of items produced.

Question 18
The steps of the scientific method are:

• Question 19
A model is a functional relationship and include:

Question 20
In a given experiment the probabilities of mutually exclusive events sum to

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