BUSI 311 FINAL QUESTIONS AND ANSWERS EXAM LATEST
UPDATE.Buy Quality Materials!
Coefficient of realism took on a value of 0.2. The decision criterion makes you
Pessimist
Students of QA class know that embedding "$" in cell address can help to lock
equation address. Which of the following use of "$" is/are NOT correct
$F6$
Which of the following is an equation to determine profit? Let: P= profit, X= # of
units sold, Ps= selling price per unit, Cv= variable cost per unit, Cf= fixed cost
P= -Cv(X) - Cf + Ps(X)
Bayes' Theorem is used to revise probabilities. The new revised probabilities are
called:
None of the above
The excel function payment "=pmt(...)" needs 3 inputs to calculate a monthly
payment of a loan. Which of the following inputs are needed
Present value, monthly interest rate expressed in %, number of payments
If only one event may occur on any one trial, then the events are said to be
Mutually exclusive
Which of the following is a decision making criterion that is used for decision
making under risk
Expected monetary value criterion
A measurable quantity that may vary or is subject to change and can be
controlled is known as a
Decision variable
In decision analysis the decision maker has the option to choose the best state of
nature available
False
A manager may need to perform rounding on production goals "X". Refer to excel
functions q and 2 below, examine and decide if they will produce the same
answer in all circumstances. 1) =roundup )X, 0)= ?? 2) =round(X, 0) =??
False
Expected monetary value is the average or expected monetary outcome of a
decision if it can be repeated a large number of times
True
The difference in decision making under risk and decision making under
uncertainty is that under risk we think we know the probabilities of the states of
nature while under uncertainty we do not know the probabilities of the states of
nature
True
If two events are mutually exclusive then the probability of the intersection of
these two events will equal 0
True
UPDATE.Buy Quality Materials!
Coefficient of realism took on a value of 0.2. The decision criterion makes you
Pessimist
Students of QA class know that embedding "$" in cell address can help to lock
equation address. Which of the following use of "$" is/are NOT correct
$F6$
Which of the following is an equation to determine profit? Let: P= profit, X= # of
units sold, Ps= selling price per unit, Cv= variable cost per unit, Cf= fixed cost
P= -Cv(X) - Cf + Ps(X)
Bayes' Theorem is used to revise probabilities. The new revised probabilities are
called:
None of the above
The excel function payment "=pmt(...)" needs 3 inputs to calculate a monthly
payment of a loan. Which of the following inputs are needed
Present value, monthly interest rate expressed in %, number of payments
If only one event may occur on any one trial, then the events are said to be
Mutually exclusive
Which of the following is a decision making criterion that is used for decision
making under risk
Expected monetary value criterion
A measurable quantity that may vary or is subject to change and can be
controlled is known as a
Decision variable
In decision analysis the decision maker has the option to choose the best state of
nature available
False
A manager may need to perform rounding on production goals "X". Refer to excel
functions q and 2 below, examine and decide if they will produce the same
answer in all circumstances. 1) =roundup )X, 0)= ?? 2) =round(X, 0) =??
False
Expected monetary value is the average or expected monetary outcome of a
decision if it can be repeated a large number of times
True
The difference in decision making under risk and decision making under
uncertainty is that under risk we think we know the probabilities of the states of
nature while under uncertainty we do not know the probabilities of the states of
nature
True
If two events are mutually exclusive then the probability of the intersection of
these two events will equal 0
True
