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##### Strayer mat540 quiz 1

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Question;Fixed cost is;the difference between total cost and total variable cost.;Question 2;In;general, an increase in price increases the break even point if all costs are;held constant.;Question 3;Probabilistic;techniques assume that no uncertainty exists in model parameters.;Question 4;If;variable costs increase, but price and fixed costs are held constant, the;break even point will decrease. Question 5;The;events in an experiment are mutually exclusive if only one can occur at a time.;True;Question 6;A binomial;probability distribution indicates the probability of r successes in n trials.;Question 7;A continuous random variable may assume only integer values within a;given interval.;Question 8;If;fixed costs increase, but variable cost and price remain the same, the break;even point;Question 9;If;the price increases but fixed and variable costs do not change, the break even;point;Question 10;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?;Question 11;EKA;manufacturing company produces Part # 2206 for the aerospace industry. 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?;Question 12;The;expected value of the standard normal distribution is equal to;Question 13;In;a binomial distribution, for each of n trials, the event;Question 14;The;area under the normal curve represents probability, and the total area under;the curve sums to;Question 15;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.;Question 16;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 provide the;course materials. If we know that 20 people will attend, what price should be;charged per person to break even? Note: please report the;result as a whole number, rounding if necessary and omitting the decimal point.;Question 17;Administrators;at a university will charge students $158 to attend a seminar. It costs $2160;to reserve a room, hire an instructor, and bring in the equipment. Assume it;costs $50 per student for the administrators to provide the course materials.;How many students would have to register for the seminar for the university to;break even? Note: please report the result as a whole number, omitting the;decimal point;Answer;Question 18;An;inspector correctly identifies defective products 90% of the time. For the next;10 products, what is the probability that he makes fewer than 2 incorrect;inspections?Note: Please report your answer with;two places to the right of the decimal, rounding if appropriate..;Question 19;Employees;of a local company are classified according to gender and job type. The;following table summarizes the number of people in each job category. Male;(M) Female (F) Job;Administrative (AD);110 10;Salaried staff;(SS);30 50;Hourly staff;(HS);60 40;If an employee is selected at random, what is the probability that the;employee is female or works as a member of the administration?;Question 20;The;variance of the standard normal distribution is equal to __________.

Paper#61154 | Written in 18-Jul-2015

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