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Submitted by pavan1001 on Sun, 2013-08-11 04:17
due on Thu, 2013-08-15 04:16
answered 1 time(s)
pavan1001 is willing to pay $20.00
pavan1001 bought 30 out of 249 answered question(s)

20 questions on business maths

Question 1 

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

True 

False 

2 points 

Question 2 

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

True 

False 

2 points 

Question 3 

  1. Parameters are known, constant values that are usually coefficients of variables in equations.

True 

False 

2 points 

Question 4 

  1. Probabilistic techniques assume that no uncertainty exists in model parameters. 

True 

False 

2 points 

Question 5 

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

True 

False 

2 points 

Question 6 

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

True 

False 

2 points 

Question 7 

  1. P(A | B) is the probability of event A, if we already know that event B has occurred. 

True 

False 

2 points 

Question 8 

  1. 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? 

 

100

 

120

 

150

 

175

 

2 points 

Question 9 

  1. A model is a functional relationship that includes:

 

 

 

variables

 

 

parameters

 

 

equations

 

all of the above

 

2 points 

Question 10 

  1. 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?

 

166.67

 

200

 

250

 

500

 

2 points 

Question 11 

The indicator that results in total revenues being equal to total cost is called the 

 

marginal cost

 

marginal volume

 

break-even point

 

profit mix

 

2 points 

Question 12 

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

 

0

 

1

 

2

 

None of the above

 

2 points 

Question 13 

  1. The expected value of the standard normal distribution is equal to

 

 

0

 

1

 

2

 

None of the above

 

2 points 

Question 14 

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

Answer 

 

 

time between trials is constant

 

always has the same probability of occurring

 

result of the first trial influence the next trial

 

trials are continuous

 

2 points 

Question 15 

  1. 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.

2 points 

Question 16 

  1. 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.

2 points 

Question 17 

A production process requires a fixed cost of $50,000. The variable cost per unit is $25 and the revenue per unit is projected to be $45. Find the break-even point.

2 points 

Question 18 

  1. 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. 

2 points 

Question 19 

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

2 points 

Question 20 

    1. 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

      Administrative (AD) 110 10

      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?
 
Answer
Submitted by pavan1001 on Sun, 2013-08-11 04:20
teacher rated 31 times
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price: $20.00

CORRECT ANSWERS :

body preview (208 words)

ANSWERS x

xx

xxxx xxxxxx

(Increase in xxxxx holding all xxxxx will xxxxxx in higher CM and xxxx xxxx reduce the xxxxx

 

xx xxxxx

(TC = xx x TVC x> FC x xx xxxxxx

xx

xx True.

xx

4. False.

(Probabilistic itself means xxxxx is some xxxxxxxxxxxxx

 

xx False.

(Integer values means discrete xxxxxxxxxx

xx

xx xxxxx

xxxxxxxxx exclusive means xx one xxxxxxx xxx xxxxx xxx xxx occur).

xx

7. xxxxx

xxxxxxx means P(A) xxx the occurred B).

 

8. D. xxxxx

xxxxxxxxxxxxxxxx x xxxxx

 

9. D. all of the xxxxxx

 

10. C. 250 x

(BEP x FC/CM = 3000/(15-3) x 250).

xx

xxx C. xxxxxxxxxx point.

xx

xxx B. 1 x

 

xxx A. 0 x

 

xxx B. xxxxxx xxx the same probability of occurring.

xx

15.  20 students.

(At xxxx xx = TCM. x> 2160 x xxxxxxxxxx x x> x x xxxx

 

xxx xx .

(At, xxxx FC = TCM. => xxxxxx = xxxxxxxxxx . x> P x x xxx xx

xx

17. 2500 units.

xxxx = xx x CM x 50000/(45-25) x 2500 xxxxxxx

 

xxxxx

xx = 0.90, x x xxxx .

xxx < 2) x xxxx 0)+ P(q= xxxx x 10C0 xxx xxxxx x xxxxx xxxxxxx ,

= 1*1*0.9^10 x 10*0.1*0.9^9 x

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