Archives: Quiz

Below is the spreadsheet for demand prediction of a company that sells chocolates. Given that D = a-bP, where D, is demand, “a” and “b,” are linear constants, and P, is price, from the below spreadsheet, how will the formula […]

Belowisaspreadsheetofpurchaseordersfor acomputerhardwareretailer. If purchase quantities of 25 units or higher are found to be large orders, and orders less than 25 are considered to be small, what IF function should be entered in H4 to be copied to H5:H10 to […]

Which of the following would be considered as an example of a proportional relationships constraint? A) making certain that only a certain amount of units are produced B) guaranteeing that a certain amount of workforce will be available for a […]

________ states that for any set of data, the proportion of values that lie within k standard deviations (k > 1) of the mean is at least 1 – 1/k2. A) Prime number theorem B) Bertrand’s postulate C) Oppermann’s conjecture […]

Trace the process of copying and pasting a cell, which has a formula in it, such that the formula is not retained in the pasted cell. A) Home – Paste – Paste Special – Paste Values B) Home – Paste […]

Dresden Pharmaceuticals has decided to go ahead and start clinical trials on a potential new drug. The total R&D costs are estimated to reach around $875,000,000 with clinical trials mounting to $145,000,000. The current market size is estimated to be […]

Jonathan Reese is considering three stocks in which to invest with a fixed budget. The table below provides information on Jonathan’s expected returns for each stock. The table also provides information, collected from market researchers, on the variance-covariance matrix of […]

Philip wishes to understand the relative proportion of each data source to the total. Which of the following charts must Philip use? A) Pie chart B) Bar chart C) Scatter chart D) Column chart Below is the spreadsheet for a […]

Below is a spreadsheet of purchase orders for a computer hardware retailer To find the largest quantity of items ordered from Rex Technologies, what Excel formula should be used in A12? A) =COUNTIF(D4:D10) B) =SUM(D4:D7) C) =MAX(D4:D7) D) =COUNT(D4:D7) According […]

Following is an extract from the Cost per Order Database of Grogtes LLC. Which of the following will give the value for the third quartile? A) PERCENTILE.INC(array, 0.75) B) QUARTILE.INC(array, 0.75) C) DECILE.INC(array, 0.30) D) QUARTILE.INC(array, 0.25) Stone Age Surfboards […]

To find the average of the total cost of orders from Rex Technologies, what Excel formula should be used in A12? A) =AVERAGE(C4:C10) B) =AVERAGE(C4:C7) C) =AVERAGE(E4:E7) D) =AVERAGE(E4:E10) Jonathan Reese is considering three stocks in which to invest with […]

In order to reject the null hypothesis, the F-test statistic must be greater than the_____. A) p-value B) variance C) df D) F crit The data for the number of hand-held gaming devices sold for the past 5 weeks are […]

Which of the following is a Type I error? A) the null hypothesis is actually true, and the hypothesis test correctly fails to reject it B) the null hypothesis is actually false, but the test incorrectly fails to reject it […]

The Riviera Transport Company (RTC) produces car accessories at two plants: Dallas and Atlanta. They ship them to major distribution centers in Houston, San Jose, Jacksonville, and Memphis. The accounting, production, and marketing departments have provided the information in the […]

The worldwide sales of cars from 1981-1990 are shown in the table below. Given: α = 0.2 and β = 0.15 (Hint: Use XLMiner) Using the double exponential smoothing, find the value of the root mean square error for the […]

Below is a table showing the costs per order of items bought by a computer hardware store. Calculate the mode for the cost per order data. A) $174.17 B) $325 C) $88 D) $206.5 One of the measures of location […]

The R2 value: A) is the variability of the observed Y-values from the predicted values. B) indicates that as the independent variable increases, the intercept term does too. C) gives the proportion of variation in the dependent variable that is […]

Which of the following would be considered as an example of a proportional relationships constraint? A) making certain that only a certain amount of units are produced B) guaranteeing that a certain amount of workforce will be available for a […]

The ________ algorithm is a classification scheme that attempts to find records in a database that are similar to one we wish to classify. A) linear regression B) logistic regression C) k-Nearest Neighbors D) discriminant analysis Following is an extract […]

The Riviera Transport Company (RTC) produces car accessories at two plants: Dallas and Atlanta. They ship them to major distribution centers in Houston, San Jose, Jacksonville, and Memphis. The accounting, production, and marketing departments have provided the information in the […]

Below is a spreadsheet for Trance Electronics. Suppose that the project manager of Trance Electronics has identified the following uncertain variables in the model and the distributions and parameters that describe them, as follows: Market size: normal with mean of […]

Stone Age Surfboards is a small manufacturer of two types of popular high-tide surfboards, the Rockwell and the Limestone models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 15 skilled workers, each of whom […]

Shirley Templeton is a real estate agent for Paralol Realty. Shirley is given the responsibility to manage potential customers for 5 of the Realty’s bungalows. These 5 bungalows are situated in close proximity. In order to make traveling easier, Shirley […]

______are mathematical functions used in predictive analytical models which define phenomena that increase at a specific rate, and is represented by the formula y = axb A) Exponential functions B) Power functions C) Polynomial functions D) Logarithmic functions Below is […]

While testing for equality of variances, which of the following formulae gives the F-test statistic? A) B) C) D) In sampling, ________ involves assessing the value of an unknown population parameter’“ such as a population mean, population proportion, or population […]

Qualis Investments is a private limited business that manages personal financial portfolios. The company manages six mutual funds and has a client that has acquired $750,000 from an inheritance. Characteristics of the funds are given in the table below. The […]

Which of the following is a difference between interval estimates and point estimates? A) Point estimates cannot be used to calculate statistical error, while interval estimate is used to calculate statistical error. B) Point estimates provide only a single value […]

Below is a payoff table that lists three mortgage options: What is the maximum opportunity loss incurred for the 25-year fixed decision? A) $ 8,626 B) $ 13,716 C) $ 14,369 D) $ 10,581 If the given time series has […]

Following is an extract from the Cost per Order Database of Grogtes LLC. Which of the following observations is closest to the third quartile? A) 35 N102 nuts for $190.40 B) 59 S103 screws for $556.96 C) 13 N103 nuts […]

The ________ is the observation that occurs most frequently. A) mode B) mean C) outlier D) median Identify the uncontrollable variable from the following inputs of a decision model. A) investment returns B) machine capacities C) staffing levels D) intercity […]

The table below provides the sales data for JD Inc. for the year 1998. Given: α = 0.2, β = 0.15, and γ = 0.05 (Hint: Use an additive Holt-Winters model.) Umbrella Sales of JD Inc. Using an appropriate Holt […]

Below is a decision tree for the airline revenue management. What is the expected value of the ticket when a discount is offered on the full fare? [Hint: Choose the approximate value.] A) $ 442.50 B) $ 472.00 C) $ […]

________ sampling applies to populations that are divided into natural subsets and allocates the appropriate proportion of samples to each subset. A) Systematic B) Stratified C) Cluster D) Continuous process In a lower one -tailed hypothesis test, chosen level of […]

Which of the following is true of normal distributions? A) The mean, median, and mode are all equal. B) Its measure of skewness is always greater than 1. C) The range of the random variable X is bounded. D) Mathematical […]

If a simulation has multiple output variables that are related to one another, the distributions of all output variables can be viewed on a single Risk Solver Platform chart called a(n) ________. A) trend chart B) sensitivity chart C) overlay […]

Given that Q = order quantity, D = annual demand, C = unit cost of the item, C0 = cost per order placed, i = inventory carrying charge per unit, which of the following represents the holding cost per unit? […]

Which of the following generates a scatter chart in Excel with the values predicted by the regression model included? A) Trendline B) Residual Plots C) R Square D) Line Fit Plots Which of the following is true of an unbiased […]

Shirley Templeton is a real estate agent for Paralol Realty. Shirley is given the responsibility to manage potential customers for 5 of the Realty’s bungalows. These 5 bungalows are situated in close proximity. In order to make traveling easier, Shirley […]

In an event X, the probability of rolling a sum of 8 on two dice is 5/36 while the probability of rolling an 11 is 2/36. In another event Y, the probability of rolling a 2 is 1/36, the probability […]

Which of the following allow meaningful comparison of ranges, averages and other statistics? A) interval data B) categorical data C) ratio data D) ordinal data Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the […]

In the equation to calculate the economic value of a customer, V = R F M / D, how is the value for F estimated? A) It is estimated to be the total number of purchases the customer has made. […]

Coppell Services contracts with outsourcing partners to handle various customer service functions. Based on a study of call volumes provided by one of the firm’s partners, the minimum number of staff needed for each hour of the day is as […]

In an event X, the probability of rolling a sum of 8 on two dice is 5/36 while the probability of rolling an 11 is 2/36. In another event Y, the probability of rolling a 2 is 1/36, the probability […]

Which of the following is true about chi-square distribution? A) It is a special distribution and is denoted by (C2). B) It is characterized by degrees of freedom. C) It is computed using the Excel function CHISQ.INV.TEST. D) It has […]

Below is the spreadsheet for an economic order quantity model. Assume that the distribution of demand is normal with a mean of 20,000 and standard deviation of 2,000. What is the reorder point required to attain a 95% service level? […]

Belowisaspreadsheetofpurchaseordersfor acomputerhardwareretailer. To find the total order cost, what Excel formula should be used in A12? A) =COUNT(C4:C10) B) =COUNT(C4:C7) C) =MAX(C4:C10) D) =SUM(E4:E10) Which of the following is true of the t-distribution? A) It has narrower confidence intervals than […]

Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Graystone and the Lava models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 8 skilled workers, each of whom […]

Using an empirical distribution precludes sampling values outside the range of the actual data. The Risk Solver Platform ________ feature allows you to determine the influence that each uncertain model input has individually on an output variable based on its […]

Which of the following is the equation used for computing the sample correlation coefficient? A) rxy = cov(X,Y)(sxsy) B) rxy = cov(X,Y)/SxSy C) rxy = D) rxy = Which of the following is a continuous random variable? A) the outcomes […]

Dresden Pharmaceuticals has decided to go ahead and start clinical trials on a potential new drug. The total R&D costs are estimated to reach around $875,000,000 with clinical trials mounting to $145,000,000. The current market size is estimated to be […]