2039 words - 9 pages

MAT 540 MIDTERM EXAM

Question 1

Correct

Deterministic techniques assume that no uncertainty exists in model parameters.

Answer

Selected Answer: True

Correct Answer: True

Question 2

5 out of 5 points

Correct

A continuous random variable may assume only integer values within a given interval.

Answer

Selected Answer: False

Correct Answer: False

Question 3

5 out of 5 points

Correct

An inspector correctly identifies defective products 90% of the time. For the next 10 products, the probability that he makes fewer than 2 incorrect inspections is 0.736.

Answer

Selected Answer: True

Correct Answer: True

Question 4

5 out of 5 points

...view middle of the document...

What is the probability that exactly 1 of the 3 products is successful?

Answer

Selected Answer:

0.096

Correct Answer:

0.096

Question 10

5 out of 5 points

Correct

In Bayesian analysis, additional information is used to alter the __________ probability of the occurrence of an event.

Answer

Selected Answer:

marginal

Correct Answer:

marginal

Question 11

5 out of 5 points

Correct

The __________ is the expected value of the regret for each decision.

Answer

Selected Answer:

expected opportunity loss

Correct Answer:

expected opportunity loss

Question 12

5 out of 5 points

Correct

A seed value is a(n)

Answer

Selected Answer:

number used to start a stream of random numbers

Correct Answer:

number used to start a stream of random numbers

Question 13

5 out of 5 points

Correct

Random numbers generated by a __________ process instead of a __________ process are pseudorandom numbers.

Answer

Selected Answer:

mathematical / physical

Correct Answer:

mathematical / physical

Question 14

5 out of 5 points

Correct

Pseudorandom numbers exhibit __________ in order to be considered truly random.

Answer

Selected Answer:

a uniform distribution

Correct Answer:

a uniform distribution

Question 15

5 out of 5 points

Correct

In the Monte Carlo process, values for a random variable are generated by __________ a probability distribution.

Answer

Selected Answer:

sampling from

Correct Answer:

sampling from

Question 16

5 out of 5 points

Correct

__________ is a linear regression model relating demand to time.

Answer

Selected Answer:

Linear trend

Correct Answer:

Linear trend

Question 17

5 out of 5 points

Correct

__________ is a measure of the strength of the relationship between independent and dependent variables.

Answer

Selected Answer:

Correlation

Correct Answer:

Correlation

Question 18

5 out of 5 points

Correct

__________ is the difference between the forecast and actual demand.

Answer

Selected Answer:

Forecast error

Correct Answer:

Forecast error

Question 19

0 out of 5 points

Incorrect

Which of the following possible values of alpha would cause exponential smoothing to respond the most slowly to sudden changes in forecast errors?

Answer

Selected Answer:

.10

Correct Answer:

.01

Question 20

5 out of 5 points

Correct

Consider the following graph of sales.

Which of the following characteristics is exhibited by the data?

Answer

Selected Answer:

None of the above

Correct Answer:

None of the above

Question 21

5 out of 5 points

Correct

__________ methods are the most common type of forecasting method for the long-term strategic planning process.

Answer

Selected Answer:

Qualitative

Correct Answer:

Qualitative

Question 22

0 out of 5 points

Incorrect

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