QMB 3602 EXAM 2 QUESTIONS WITH
100% CORRECT ANSWERS
When data editing replaces the missing data for a MCAR variable in a data record with
the mean response for all participants who provided data for that variable, the editing
strategy being used is _____. - Answer-pairwise deletion
The tool used to display content analysis recording units is a _____. - Answer-proximity
plot
If we study what assertions or claims people make about their skills in their resumes, we
are interested in what type of recording units? - Answer-Propositional
In content analysis, if you were studying the themes represented in CEO letters
contained in annual reports, you would be studying _____. - Answer-Context units
Which data display technique uses the five-number summary? - Answer-Box plot
Re-expression of collected data on a lower-power scale is called ______. - Answer-
nonresistance statistics
In order to produce a new product, a firm must lease equipment at a cost of $150,000
per year. The managers feel that they can sell 60,000 units per year at a price of $85.
What is the highest variable cost that will allow the firm to at least break even on this
project? (Round your answer to 2 decimal places and include a dollar sign $.) - Answer-
$82.50
A manager has determined that a potential new product can be sold at a price of $28.50
each. The cost to produce the product is $21.00, but the equipment necessary for
production must be leased for $110,000 per year. What is the break-even point? (Round
your answer to the nearest whole number and include commas if appropriate.) -
Answer-14,667
In order to produce a new product, a firm must lease equipment at a cost of $45,000 per
year. The managers feel that they can sell 8,750 units per year at a price of $30. What
is the highest variable cost that will allow the firm to at least break even on this project?
(Round your answer to 2 decimal places and include a dollar sign $.) - Answer-$24.86
Production has indicated that they can produce widgets at a cost of $5.00 each if they
lease new equipment at a cost of $12,500. Marketing has estimated the number of units
, they can sell at a number of prices (shown below). Which price/volume option will allow
the firm to avoid losing money on this project? - Answer-1,400 units at $14.50 each.
A manager has determined that a potential new product can be sold at a price of $57.5
each. The cost to produce the product is $27.5, but the equipment necessary for
production must be leased for $175,000 per year. What is the break-even point? (Round
your answer to the nearest whole number and include a comma if appropriate.) -
Answer-5,833
Which of the following are examples of queue discipline strategies?
1. First-come, first-served
2. Random selection
3. Priority selection - Answer-1, 2, and 3
Which of the following is a measure of performance in queueing analysis?
The average number waiting in line
Service time
The average number in the system - Answer-1 and 3
As the ratio of arrival rate to service rate is decreased, which of the following is likely to
occur? - Answer-Customers move through the system more quickly because utilization
is decreased
Which of these would decrease system utilization? - Answer-A decrease in the arrival
rate
The process of ensuring the accuracy of data and their conversion from raw form into
classified forms appropriate for analysis is called ________. - Answer-Data preperation
What percentage of participants is typically contacted during data validation? - Answer-
10%
Hypothesis testing is conducted using ________ data analysis techniques. - Answer-
confirmatory
All of the following are contained in a frequency table except ________. - Answer-
quartile indicators
Which type of graphical depiction of frequency values uses a circle shape divided into
triangles such that each triangle represents the frequency value it represents? -
Answer-pie chart
Which of the following display choices is most similar to the histogram? - Answer-stem
and leaf display
100% CORRECT ANSWERS
When data editing replaces the missing data for a MCAR variable in a data record with
the mean response for all participants who provided data for that variable, the editing
strategy being used is _____. - Answer-pairwise deletion
The tool used to display content analysis recording units is a _____. - Answer-proximity
plot
If we study what assertions or claims people make about their skills in their resumes, we
are interested in what type of recording units? - Answer-Propositional
In content analysis, if you were studying the themes represented in CEO letters
contained in annual reports, you would be studying _____. - Answer-Context units
Which data display technique uses the five-number summary? - Answer-Box plot
Re-expression of collected data on a lower-power scale is called ______. - Answer-
nonresistance statistics
In order to produce a new product, a firm must lease equipment at a cost of $150,000
per year. The managers feel that they can sell 60,000 units per year at a price of $85.
What is the highest variable cost that will allow the firm to at least break even on this
project? (Round your answer to 2 decimal places and include a dollar sign $.) - Answer-
$82.50
A manager has determined that a potential new product can be sold at a price of $28.50
each. The cost to produce the product is $21.00, but the equipment necessary for
production must be leased for $110,000 per year. What is the break-even point? (Round
your answer to the nearest whole number and include commas if appropriate.) -
Answer-14,667
In order to produce a new product, a firm must lease equipment at a cost of $45,000 per
year. The managers feel that they can sell 8,750 units per year at a price of $30. What
is the highest variable cost that will allow the firm to at least break even on this project?
(Round your answer to 2 decimal places and include a dollar sign $.) - Answer-$24.86
Production has indicated that they can produce widgets at a cost of $5.00 each if they
lease new equipment at a cost of $12,500. Marketing has estimated the number of units
, they can sell at a number of prices (shown below). Which price/volume option will allow
the firm to avoid losing money on this project? - Answer-1,400 units at $14.50 each.
A manager has determined that a potential new product can be sold at a price of $57.5
each. The cost to produce the product is $27.5, but the equipment necessary for
production must be leased for $175,000 per year. What is the break-even point? (Round
your answer to the nearest whole number and include a comma if appropriate.) -
Answer-5,833
Which of the following are examples of queue discipline strategies?
1. First-come, first-served
2. Random selection
3. Priority selection - Answer-1, 2, and 3
Which of the following is a measure of performance in queueing analysis?
The average number waiting in line
Service time
The average number in the system - Answer-1 and 3
As the ratio of arrival rate to service rate is decreased, which of the following is likely to
occur? - Answer-Customers move through the system more quickly because utilization
is decreased
Which of these would decrease system utilization? - Answer-A decrease in the arrival
rate
The process of ensuring the accuracy of data and their conversion from raw form into
classified forms appropriate for analysis is called ________. - Answer-Data preperation
What percentage of participants is typically contacted during data validation? - Answer-
10%
Hypothesis testing is conducted using ________ data analysis techniques. - Answer-
confirmatory
All of the following are contained in a frequency table except ________. - Answer-
quartile indicators
Which type of graphical depiction of frequency values uses a circle shape divided into
triangles such that each triangle represents the frequency value it represents? -
Answer-pie chart
Which of the following display choices is most similar to the histogram? - Answer-stem
and leaf display
