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# Strayer mat540 quiz 1

Question # 00006835
Subject: Mathematics
Due on: 01/30/2014
Posted On: 01/18/2014 10:01 PM

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Question
1. Fixed cost is the difference between total cost and total variable cost.

Question 2

In general, an increase in price increases the break even point if all costs are held constant.

Question 3

Probabilistic techniques assume that no uncertainty exists in model parameters.

Question 4

1. If variable costs increase, but price and fixed costs are held constant, the break even point will decrease.

Question 5

The events in an experiment are mutually exclusive if only one can occur at a time. True

Question 6

A binomial probability distribution indicates the probability of r successes in n trials.

Question 7

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

Question 8

If fixed costs increase, but variable cost and price remain the same, the break even point

Question 9

If the price increases but fixed and variable costs do not change, the break even point

Question 10

A university is planning a seminar. It costs \$3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs \$25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even?

Question 11

EKA manufacturing company produces Part # 2206 for the aerospace industry. Each unit of part # 2206 is sold for \$15. The unit production cost of part # 2206 is \$3. The fixed monthly cost of operating the production facility is \$3000. How many units of part # 2206 have to be sold in a month to break-even?

Question 12

The expected value of the standard normal distribution is equal to

Question 13

In a binomial distribution, for each of n trials, the event

Question 14

The area under the normal curve represents probability, and the total area under the curve sums to

Question 15

A production run of toothpaste requires a fixed cost of \$100,000. The variable cost per unit is \$3.00. If 50,000 units of toothpaste will be sold during the next month, what sale price must be chosen in order to break even at the end of the month? Note: please report the result as a whole number, rounding if necessary and omitting the decimal point.

Question 16

Administrators at a university are planning to offer a summer seminar.The costs of reserving a room, hiring an instructor, and bringing in the equipment amount to \$3000.
Suppose that it costs \$25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even? Note: please report the result as a whole number, rounding if necessary and omitting the decimal point.

Question 17

Administrators at a university will charge students \$158 to attend a seminar. It costs \$2160 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs \$50 per student for the administrators to provide the course materials. How many students would have to register for the seminar for the university to break even? Note: please report the result as a whole number, omitting the decimal point

Question 18

An inspector correctly identifies defective products 90% of the time. For the next 10 products, what is the probability that he makes fewer than 2 incorrect inspections?Note: Please report your answer with two places to the right of the decimal, rounding if appropriate. .

Question 19

Employees of a local company are classified according to gender and job type. The following table summarizes the number of people in each job category.

Male (M) Female (F)
Job
Salaried staff (SS) 30 50
Hourly staff (HS) 60 40

If an employee is selected at random, what is the probability that the employee is female or works as a member of the administration?

Question 20

The variance of the standard normal distribution is equal to __________.

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#### Strayer mat540 quiz 1

Tutorial # 00006549
Posted On: 01/18/2014 10:02 PM
Posted By:
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QUIZ_1_MAT540.docx (23.05 KB)
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