Mat 540 Midterm Exam Essay

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
Given the following data on...

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