SAINT GBA334 midterm exam 100% correct
A plant supervisor is contemplating shopping for extra stamping machines to accommodate rising demand. The alternaties are to purchase 1 machine, 2 machines, or three machines. The earnings realized beneath every alternatie are a perform of whether or not their bid for a current protection contract is accepted or not. The payoff desk beneath illustrates the earnings realized (in $000's) primarily based on the totally different eventualities confronted by the supervisor. Alternatie Bid Accepted Bid Rejected Purchase 1 machine $10 $5 Purchase 2 machines $30 $Four Purchase three machines $40 $2Utilizing the data aboe, which alternatie must be chosen primarily based on the maximax criterion?: Purchase 1 machinePurchase 2 machinesPurchase three machines: 2 of twoQuery 2. Query : A plant supervisor is contemplating shopping for extra stamping machines to accommodate rising demand. The alternaties are to purchase 1 machine, 2 machines, or three machines. The earnings realized beneath every alternatie are a perform of whether or not their bid for a current protection contract is accepted or not. The payoff desk beneath illustrates the earnings realized (in $000's) primarily based on the totally different eventualities confronted by the supervisor. Alternatie Bid Accepted Bid Rejected Purchase 1 machine $10 $5 Purchase 2 machines $30 $Four Purchase three machines $40 $2Confer with the data aboe. Assume that primarily based on historic bids with the protection contractor, the plant supervisor beliees that there's a 65% likelihood that the bid shall be accepted and a 35% likelihood that the bid shall be rejected.What's the anticipated alue beneath certainty?: 1.051.9517.2527.75: 2 of twoQuery three. Query : “The likelihood of eent B, gien that eent A has occurred” is named a __________ likelihood.: steadymarginaleasyjointconditional: 2 of twoQuery Four. Query : Assume that you just hae an urn containing 10 balls of the next description:Four are white (W) and lettered (L) 2 are white (W) and numbered (N) three are yellow (Y) and lettered (L) 1 is yellow (Y) and numbered (N) Should you draw a numbered ball (N), the likelihood that this ball is white (W) is zero.60.: True False: 2 of twoQuery 5. Query : What's the system for the break-een level of a easy revenue mannequin?: Fastened price / ariable price per unit(Promoting worth per unit — ariable price per unit) / fastened priceFastened price / (promoting worth per unit — ariable price per unit)Fastened price / (ariable price per unit — promoting worth per unit)Promoting worth per unit — (fastened price / ariable price per unit): 2 of twoQuery 6. Query : Arrials in a uniersity adising workplace throughout the week of registration are recognized to comply with a Poisson distribution with an aerage of 4 folks arriing every hour. What's the likelihood that precisely 4 folks will arrie within the subsequent hour?: zero.1813zero.1865zero.1923zero.1954: 2 of twoQuery 7. Query : The financial order amount (EOQ) system assumes that each one enter information are recognized with certainty.: True False: 2 of twoQuery eight. Query : Using "knowledgeable opinion" is one solution to approximate subjectie likelihood alues.: True False: 2 of twoQuery 9. Query : Properties of the conventional distribution embrace:: a steady bell-shaped distribution.a discrete likelihood distribution.the variety of trials is thought and is both 1, 2, three, Four, 5, and many others.the random ariable can assume solely a finite or restricted set of alues. use in queuing.: 2 of twoQuery 10. Query : Expressing earnings via the relationship amongst unit worth, fastened prices, and ariable prices is an instance of:: a sensitiity evaluation mannequin.a quantitatie evaluation mannequin.a postoptimality relationship.a parameter specification mannequin.not one of the aboe.: 2 of twoQuery 11. Query : A bakery buys sugar in 15-pound luggage. The bakery makes use of 5000 luggage of sugar annually. Carrying prices are $20 per bag per yr. Ordering prices are estimated at $5 per order. Assume that the bakery is open 250 days a yr and its each day demand is estimated at 20 luggage. It takes 5 days for every order of sugar to be crammed. What are the overall annual holding prices?: $500$1000$20$750$250: 2 of twoQuery 12. Query : A plant supervisor is contemplating shopping for extra stamping machines to accommodate rising demand. The alternaties are to purchase 1 machine, 2 machines, or three machines. The earnings realized beneath every alternatie are a perform of whether or not their bid for a current protection contract is accepted or not. The payoff desk beneath illustrates the earnings realized (in $000's) primarily based on the totally different eventualities confronted by the supervisor. Alternatie Bid Accepted Bid Rejected Purchase 1 machine $10 $5 Purchase 2 machines $30 $Four Purchase three machines $40 $2Utilizing the data aboe, which alternatie must be chosen primarily based on the Laplace criterion?: Purchase 1 machinePurchase 2 machinesPurchase three machines: 2 of twoQuery 13. Query : Figuring out the aerage payoff for every alternatie and selecting the one with one of the best payoff is the strategy known as:: maximaxmaximinLaplaceminimax remorseanticipated financial alue: 2 of twoQuery 14. Query : Bob White is conducting analysis on month-to-month bills for medical care, together with oer-the-counter medication. His dependent ariable is month-to-month bills for medical care whereas his unbiased ariable is variety of members of the family. Under is his Excel output.Click on right here to iew an Excel ersion of this outputReferring to the data aboe, primarily based on his mannequin, every extra member of the family will increase the expected prices by how a lot?: $110.47$16.83$93.64$127.30: 2 of twoQuery 15. Query : A controllable ariable can be known as:: a parameter.a choice ariable.a mathematical mannequin.a measurable amount.not one of the aboe.: 2 of twoQuery 16. Query : A seasonal index of __________ signifies that the season is aerage.: 10100zero.5zero1: 2 of twoQuery 17. Query : Within the exponential smoothing with pattern adjustment forecasting technique, lacking one thing is the:: slope of the pattern line.new forecast.Y-axis intercept.unbiased ariable.pattern smoothing fixed.: zero of twoQuery 18. Query : Assume that you just hae an urn containing 10 balls of the next description:Four are white (W) and lettered (L) 2 are white (W) and numbered (N) three are yellow (Y) and lettered (L) 1 is yellow (Y) and numbered (N) Should you draw a lettered ball (L), the likelihood that this ball is white (W) is zero.571.: True False: 2 of twoQuery 19. Query : The situation of improper information yielding deceptive outcomes is known as:: rubbish in, rubbish out.break-een level.uncontrollable ariable.postoptimality.not one of the aboe.: 2 of twoQuery 20. Query : Bob White is conducting analysis on month-to-month bills for medical care, together with oer-the-counter medication. His dependent ariable is month-to-month bills for medical care whereas his unbiased ariable is variety of members of the family. Under is his Excel output.Click on right here to iew an Excel ersion of this outputReferring to the data aboe, what % of the ariation in medical bills is defined by the scale of the household?: 48.three%49.6%50.6%51.three%: 2 of twoQuery 21. Query : Our division retailer is haing a sale on private computer systems, of which three are in inventory (no rain checks). There's a sure likelihood of promoting none. The likelihood of promoting one is twice as nice because the likelihood of promoting none. The likelihood of promoting two is 3 times the likelihood of promoting none. Lastly, the likelihood of promoting all the private computer systems is 4 occasions as nice because the likelihood of promoting none.Utilizing the aboe data, what's the likelihood of promoting no private computer systems? Trace: Let the likelihood of promoting none equal x.: zero.05zero.08zero.1zero.2: 2 of twoQuery 22. Query : A medium-term forecast is thought-about to coer what size of time?: 2-Four weeks1 month to 1 yr2-Four years5-10 years20 years: 2 of twoQuery 23. Query : If two eents are mutually exclusie, then:: their possibilities may be added.they could even be collectiely exhaustie.the joint likelihood is the same as zero.if one happens, the opposite can't happen.The entire aboe: 2 of twoQuery 24. Query : Arrials at a fast-food restaurant comply with a Poisson distribution with a imply arrial fee of 16 prospects per hour. What's the likelihood that within the subsequent hour there shall be precisely 12 arrials?: zero.0000zero.0661zero.7500zero.1322Not one of the aboe: 2 of twoQuery 25. Query : The Division of Motor ehicles (DM) can serice prospects at a fee of 20 per hour (or 1/three per minute) when it involves license renewals. The serice time follows an exponential distribution. What's the likelihood that it'll take lower than three minutes for a specific buyer to get a license renewal?: zero.5zero1zero.368zero.632: 2 of twoQuery 26. Query : Demand for soccer balls at a new sporting items retailer is forecasted utilizing the next regression equation: Y = 98 + 2.2X the place X is the variety of months that the shop has been in existence. Let April be represented by X = Four. April is assumed to hae a seasonality index of 1.15. What's the forecast for soccer ball demand for the month of April (rounded to the closest integer)?: 123107100115Not one of the aboe: 2 of twoQuery 27. Query : The very best mannequin is a statistically important mannequin with a excessive r-square and few ariables.: True False: 2 of twoQuery 28. Query : Historic information signifies that solely 20% of cable prospects are keen to change corporations. If a binomial course of is assumed, then in a pattern of 20 cable prospects, what's the likelihood that not more than three prospects could be keen to change their cable?: zero.85zero.15zero.20zero.411zero.589: 2 of twoQuery 29. Query : A seasonal index of 1 means that the season is aerage.: True False: 2 of twoQuery 30. Query : Which of the next is true concerning a regression mannequin with multicollinearity, a excessive r2 alue, and a low F-test significance leel?: The mannequin will not be a very good prediction mannequin.The excessive alue of r2 is as a result of multicollinearity.The interpretation of the coefficients is aluable.The importance leel checks for the coefficients usually are not alid.The importance leel for the F-test will not be alid.: 2 of twoQuery 31. Query : Bob White is conducting analysis on month-to-month bills for medical care, together with oer-the-counter medication. His dependent ariable is month-to-month bills for medical care whereas his unbiased ariable is variety of members of the family. Under is his Excel output.Click on right here to iew an Excel ersion of this outputReferring to the data aboe, the importance F-test, is that this mannequin a very good prediction equation?: SureNo: 2 of twoQuery 32. Query : The size of time that it takes the tollbooth attendant to serice every drier can sometimes be described by the:: regular distribution.uniform distribution.exponential distribution.Poisson distribution.Not one of the aboe: 2 of twoQuery 33. Query : Time-series fashions try to predict the longer term through the use of historic information.: True False: 2 of twoQuery 34. Query : Each day demand for newspapers for the final 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most up-to-date). Forecast gross sales for the following day utilizing a two-day weighted moing aerage the place the weights are three and 1 are:: 14.513.51412.2512.75: 2 of twoQuery 35. Query : Our division retailer is haing a sale on private computer systems, of which three are in inventory (no rain checks). There's a sure likelihood of promoting none. The likelihood of promoting one is twice as nice because the likelihood of promoting none. The likelihood of promoting two is 3 times the likelihood of promoting none. Lastly, the likelihood of promoting all the private computer systems is 4 occasions as nice because the likelihood of promoting none.Utilizing the aboe data, what's the likelihood of promoting all three private computer systems? Trace: Let the likelihood of promoting none equal x.: zero.Fourzero.32zero.36zero.44: 2 of twoQuery 36. Query : Bob White is conducting analysis on month-to-month bills for medical care, together with oer-the-counter medication. His dependent ariable is month-to-month bills for medical care whereas his unbiased ariable is variety of members of the family. Under is his Excel output.Click on right here to iew an Excel ersion of this outputReferring to the data aboe, what's the alue of the correlation coefficient?: 55.278zero.695zero.483zero.474: 2 of twoQuery 37. Query : Lack of goodwill have to be included in stockout prices.: True False: 2 of twoQuery 38. Query : The likelihood, P, of any eent or state of nature occurring is larger than or equal to zero and fewer than or equal to 1.: True False: 2 of twoQuery 39. Query : As one will increase the variety of intervals used within the calculation of a moing aerage:: better emphasis is positioned on newer information.much less emphasis is positioned on newer information.the emphasis positioned on newer information stays the identical.it requires a pc to automate the calculations.one is normally on the lookout for a long-term prediction.: 2 of twoQuery 40. Query : Which of the next strategies tells whether or not the forecast tends to be too excessive or too low?: MADMSEMAPEDecompositionBias: 2 of twoQuery 41. Query : A moing aerage forecasting technique is a causal forecasting technique.: True False: 2 of twoQuery 42. Query : One goal of regression is to know the connection between ariables.: True False: 2 of twoQuery 43. Query : When demand is fixed, the Reorder level (ROP) is a perform of demand and lead time.: True False: 2 of twoQuery 44. Query : Which of the next will not be categorised as a qualitatie forecasting mannequin?: Exponential smoothingDelphi techniqueJury of executie opinionGross sales drive compositeShopper market surey: 2 of twoQuery 45. Query : Think about the next gasoline information:Click on right here to iew an Excel ersion of this desk.Referring to the data aboe, what's the seasonal index for fourth quarter?: 1.zero171.175.977.899: 2 of twoQuery 46. Query : The classical technique of figuring out likelihood is:: subjectie likelihood.marginal likelihood.objectie likelihood.joint likelihood.conditional likelihood.: 2 of twoQuery 47. Query : A consulting agency has receied two Tremendous Bowl tickets from one in every of its shoppers. To be truthful, the agency is randomly choosing two totally different worker names to "win" the tickets. There are six secretaries, fie consultants and 4 companions within the agency. Which of the next statements is fake?: The likelihood of a secretary successful a ticket on the primary draw is 6/15. The likelihood of a secretary successful a ticket on the second draw gien guide gained a ticket on the primary draw is 6/15. The likelihood of a guide successful a ticket on the primary draw is 1/three. The likelihood of two secretaries successful each tickets is 1/7.The likelihood of a accomplice successful a ticket on the second draw gien secretary gained a ticket on the primary draw is Four/14.: 2 of twoQuery 48. Query : The EM that an individual is keen to gie up to be able to aoid the danger related to of venture is known as the:: threat premium.certainty equialent.EPI.EwPI.ESI.: 2 of twoQuery 49. Query : Enrollment in a specific class for the final 4 semesters has been 120, 126, 110, and 130 (listed from oldest to most up-to-date). What's the enrollment forecast for subsequent semester utilizing exponential smoothing with an alpha = zero.2? Assume that an preliminary forecast for the primary semester was 120 (so the forecast and the precise have been the identical).: 118.96121.17130120Not one of the aboe: 2 of twoQuery 50. Query : An urn incorporates seen blue and three yellow chips. If the drawing of chips is finished with substitute, what's the likelihood of drawing a blue chip on the second draw gien yellow chip was drawn on the primary draw?: zero.zero27zero.210zero.300zero.700: 2 of two