Mat 540 Midterm

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* Question 1 5 out of 5 points | | | Deterministic techniques assume that no uncertainty exists in model parameters. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | * Question 2 5 out of 5 points | | | 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 3 5 out of 5 points | | | A continuous random variable may assume only integer values within a given interval. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | * Question 4 5 out of 5 points | | | A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | * Question 5 5 out of 5 points | | | Simulation results will always equal analytical results if 30 trials of the simulation have been conducted.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | * Question 6 5 out of 5 points | | | Excel can only be used to simulate systems that can be represented by continuous random variables.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | * Question 7 5 out of 5 points | | | The Delphi develops a consensus forecast about what will occur in the future.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | * Question 8 5 out of 5 points | | | Qualitative methods are the least common type of forecasting method for the long-term strategic planning process.Answer | | | |

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