Quantitative Methods Test 3 (Ch. 11-15) (WGU D776)
questions and answers 2026\2027 A+ Grade
A _____ is a gradual, long-term, up-or-down movement of demand.
- correct answer Trend
A _____ is an up-and-down repetitive movement that repeats itself over a time span of more than 1
year.
- correct answer Cyclical pattern
A _____ probability is the altered marginal probability of an event based on additional information.
- correct answer Posterior
A _____ probability is the probability of a single event occurring.
- correct answer Marginal
A _____ probability is the probability that an event will occur given that another event has already
occurred.
- correct answer Conditional
A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the
following table based on whether business is brisk or slow.
Alternative Brisk Slow
Buy 90 -10
Rent 70 40
Lease 60 55
, The maximax strategy is:
- correct answer Buy
The maximin strategy is:
- correct answer Lease
The equal likelihood criterion strategy is:
- correct answer Lease
If the probability of brisk business is 0.40 and for slow business is 0.60, the expected value of perfect
information is:
- correct answer 12
A company is considering producing a new children's bar soap. A market research firm has told the
company that if they perform a survey, a positive survey of a favorable market occurs 65 percent of the
time. That is, P(positive survey | favorable market) = 0.65. Similarly, 40 percent of the time the survey
falsely predicts a favorable market; thus, P(positive survey | unfavorable market) = 0.40. These statistics
indicate the accuracy of the survey. Prior to contacting the market research firm, the company's best
estimate of a favorable market was 50 percent. So, P(favorable market) = 0.50 and P(unfavorable
market) = 0.50.
Using Bayes' theorem, determine the probability of a favorable market given a favorable survey.
- correct answer 0.62
A single-bay car wash with a Poisson arrival rate and an exponential service time has cars arriving at an
average of 10 minutes apart with an average service time of 4 minutes. What is the system utilization?
- correct answer 0.4
A single-server queuing system has average time between arrivals of 20 minutes and a service time of 10
minutes each. Assuming Poisson arrivals and exponential service times, the utilization factor is
approximately:
- correct answer 0.50
questions and answers 2026\2027 A+ Grade
A _____ is a gradual, long-term, up-or-down movement of demand.
- correct answer Trend
A _____ is an up-and-down repetitive movement that repeats itself over a time span of more than 1
year.
- correct answer Cyclical pattern
A _____ probability is the altered marginal probability of an event based on additional information.
- correct answer Posterior
A _____ probability is the probability of a single event occurring.
- correct answer Marginal
A _____ probability is the probability that an event will occur given that another event has already
occurred.
- correct answer Conditional
A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the
following table based on whether business is brisk or slow.
Alternative Brisk Slow
Buy 90 -10
Rent 70 40
Lease 60 55
, The maximax strategy is:
- correct answer Buy
The maximin strategy is:
- correct answer Lease
The equal likelihood criterion strategy is:
- correct answer Lease
If the probability of brisk business is 0.40 and for slow business is 0.60, the expected value of perfect
information is:
- correct answer 12
A company is considering producing a new children's bar soap. A market research firm has told the
company that if they perform a survey, a positive survey of a favorable market occurs 65 percent of the
time. That is, P(positive survey | favorable market) = 0.65. Similarly, 40 percent of the time the survey
falsely predicts a favorable market; thus, P(positive survey | unfavorable market) = 0.40. These statistics
indicate the accuracy of the survey. Prior to contacting the market research firm, the company's best
estimate of a favorable market was 50 percent. So, P(favorable market) = 0.50 and P(unfavorable
market) = 0.50.
Using Bayes' theorem, determine the probability of a favorable market given a favorable survey.
- correct answer 0.62
A single-bay car wash with a Poisson arrival rate and an exponential service time has cars arriving at an
average of 10 minutes apart with an average service time of 4 minutes. What is the system utilization?
- correct answer 0.4
A single-server queuing system has average time between arrivals of 20 minutes and a service time of 10
minutes each. Assuming Poisson arrivals and exponential service times, the utilization factor is
approximately:
- correct answer 0.50
