10/27/23, 8:25 PM TEST TWO: Attempt review
Dashboard My courses BUS327B_2023.... ASSESSMENTS TEST TWO
Started on Friday, 27 October 2023, 8:06 PM
State Finished
Completed on Friday, 27 October 2023, 8:39 PM
Time taken 32 mins 25 secs
Marks 27.00/30.00
Grade 9.00 out of 10.00 (90%)
Question 1
Correct
Mark 1.00 out of 1.00
Decision variables:
a. none
b. are always uncertain.
c. can be selected at the discretion of the decision maker.
d. cannot be directly controlled by the decision maker.
e. are assumed to be constant.
Your answer is correct.
The correct answer is:
can be selected at the discretion of the decision maker.
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Question 2
Correct
Mark 1.00 out of 1.00
When data are classified by the type of measurement scale, which is the strongest form of measurement?
a. norminal
b. ordinal
c. none
d. interval
e. ratio
Your answer is correct.
The correct answer is:
ratio
Question 3
Correct
Mark 1.00 out of 1.00
If D is demand, P is the unit price, and c and d are constants (where d > 0 is the price
elasticity), which of the following is a nonlinear demand prediction model?
a. D = cP −d
b. D = d + (c × P )
c. D = cd × P
d. none
e. D = (d × P )c
Your answer is correct.
The correct answer is:
D = cP −d
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10/27/23, 8:25 PM TEST TWO: Attempt review
Question 4
Incorrect
Mark 0.00 out of 1.00
Which of the following is the first phase in problem solving?
a. analyzing the problem
b. defining the problem
c. recognizing the problem
d. none
e. structuring the problem
Your answer is incorrect.
The correct answer is:
recognizing the problem
Question 5
Correct
Mark 1.00 out of 1.00
The manager at Soul Walk Inc., a shoe manufacturing company, wants to set a new price (P) for a shoe model to
maximize total profit. The demand (D) as a function of price is represented as: D = 1, 500 − 2.5P
The total cost (C) as a function of demand is represented as:
C = 3, 200 + 3.5D
Which of the following is a model for total profit as a function of price?
a. 2
(1, 508.75 × price) − (2.5 × price ) − 8, 450
b. none
c. 2
(1, 250 × price) + (5 × price ) − 8, 320
d. [4521 + (4.5 \times price)] \times price - 9684.25
e. 2
(3.5 × price ) + 3, 200 − (1925.50 × price)
Your answer is correct.
The correct answer is:
2
(1, 508.75 × price) − (2.5 × price ) − 8, 450
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10/27/23, 8:25 PM TEST TWO: Attempt review
Question 6
Correct
Mark 1.00 out of 1.00
The demand for coffee beans over a period of three months has been represented in the form of an L-shaped
curve. Which form of model was used here?
a. mathematical model
b. verbal model
c. visual model
d. none
e. kinesthetic (tactile) model
Your answer is correct.
The correct answer is:
visual model
Question 7
Correct
Mark 1.00 out of 1.00
During which phase in problem solving is a formal model often developed?
a. defining the problem
b. structuring the problem
c. analyzing the problem
d. implementing the solution
e. none
Your answer is correct.
The correct answer is:
structuring the problem
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Question 8
Correct
Mark 1.00 out of 1.00
Which of the following allow meaningful comparison of ranges, averages and other
statistics?
a. interval data
b. ratio data
c. ordinal data
d. None
e. categorical data
Your answer is correct.
The correct answer is:
interval data
Question 9
Correct
Mark 1.00 out of 1.00
What is a database?
a. simply a collection of data
b. flat files used to store data
c. None
d. a structured collection of related files and data
e. a data file holding a single file
Your answer is correct.
The correct answer is:
a structured collection of related files and data
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Question 10
Correct
Mark 1.00 out of 1.00
Which decision model incorporates the process of optimization?
a. prescriptive
b. descriptive
c. none
d. normative
e. predictive
Your answer is correct.
The correct answer is:
prescriptive
Question 11
Correct
Mark 1.00 out of 1.00
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 Formulas
b. Home - Paste - Paste Special - Paste Validation
c. Home - Paste - Paste Special - Paste Values
d. Home - Paste - Paste Special - Paste Formats
e. none
Your answer is correct.
The correct answer is:
Home - Paste - Paste Special - Paste Values
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Question 12
Incorrect
Mark 0.00 out of 1.00
Which of the following functions is a logical function that returns TRUE if any condition is true and FALSE if not?
a. none
b. OR(condition 1, condition 2…)
c. AND(condition 1, condition 2…)
d. IF(condition, value if true, value if false)
e. TO(value if true, value if false)
Your answer is incorrect.
The correct answer is:
OR(condition 1, condition 2…)
Question 13
Incorrect
Mark 0.00 out of 1.00
Which of the following ways would 10
2 3
× 5 /100 − 73 be represented in an Excel spreadsheet?
a. 10*2 ^ 5*3 / 100 - 73
b. 10(2) ^ 5(3) / 100 - 73
c. 10(2) * 5(3) / 100 ^ 73
d. none
e. 10^2 * 5^3 / 100 - 73
Your answer is incorrect.
The correct answer is:
10^2 * 5^3 / 100 - 73
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Question 14
Correct
Mark 1.00 out of 1.00
Which of the following is a difference between relative addressing and absolute addressing when using cell
formulas in Excel?
a. A relative address uses only the column label in the cell reference; an absolute address uses
the row.
b. A relative address uses just the row and column label in the cell reference; an absolute
address uses a dollar sign before either the row or column label.
c. none
d. A relative address uses a dollar sign before either the row or column label; an absolute
address uses the ampersand symbol before either the row or column label.
e. A relative address uses a dollar sign before either the row or column label; an absolute
address uses just the row and column label in the cell reference.
Your answer is correct.
The correct answer is:
A relative address uses just the row and column label in the cell reference; an absolute
address uses a dollar sign before either the row or column label.
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Question 15
Correct
Mark 1.00 out of 1.00
To find the largest quantity of items ordered from Rex Technologies, what Excel formula should be used in A12?
a. =SUM(D4:D7)
b. none
c. =COUNT(D4:D7)
d. =COUNTIF(D4:D10)
e. =MAX(D4:D7)
Your answer is correct.
The correct answer is:
=MAX(D4:D7)
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Question 16
Correct
Mark 1.00 out of 1.00
Observations consisting of pairs of variable data are required to construct a ________ chart.
a. none
b. radar
c. doughnut
d. line
e. scatter
Your answer is correct.
The correct answer is:
scatter
Question 17
Correct
Mark 1.00 out of 1.00
Which of the following relies on sorting data and calculating the cumulative percentage of the characteristic of
interest?
a. Anscombe's quartet
b. Bland-Altman plot
c. Randolph diagram
d. none
e. Pareto analysis
Your answer is correct.
The correct answer is:
Pareto analysis
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Question 18
Correct
Mark 1.00 out of 1.00
Which of the following charts allows plotting of multiple dimensions of several data series?
a. none
b. Bubble chart
c. Area chart
d. Doughnut chart
e. Radar chart
Your answer is correct.
The correct answer is:
Radar chart
Question 19
Correct
Mark 1.00 out of 1.00
Roger wants to compare values across categories using vertical rectangles. Which of the
following charts must Roger use?
a. none
b. Clustered column chart
c. Stacked column chart
d. Pie chart
e. Line chart
Your answer is correct.
The correct answer is:
Clustered column chart
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Question 20
Correct
Mark 1.00 out of 1.00
Howard has screened some employee details out of the employee database for tax computation purposes. In
order to restore the original data file, Howard must:
a. click Sort Newest to Oldest.
b. none
c. click Clear outline from Ungroup.
d. click Unmerge cells.
e. click Clear filter from Item Description.
Your answer is correct.
The correct answer is:
click Clear filter from Item Description.
Question 21
Correct
Mark 1.00 out of 1.00
In the equation Cp = (upper specification - lower specification)/total variation, what does Cp
denote?
a. process capability index
b. none
c. capability pattern
d. capacity variation index
e. capability push
Your answer is correct.
The correct answer is:
process capability index
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Question 22
Correct
Mark 1.00 out of 1.00
Which of the following is true for a median?
a. none
b. Medians are affected by outliers.
c. Medians can be calculated no matter how the data is arranged.
d. A median is only meaningful for interval or ordinal data and not for ratio data.
e. For an even number of observations, the median is the mean of the two middle numbers.
Your answer is correct.
The correct answer is:
For an even number of observations, the median is the mean of the two middle numbers.
Question 23
Correct
Mark 1.00 out of 1.00
Calculate the mean cost per order using the table below:
a. $220.54
b. none
c. $88
d. $174.70
e. $159
Your answer is correct.
The correct answer is:
$174.70
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Question 24
Correct
Mark 1.00 out of 1.00
In finance, the ________ is the ratio of a fund's excess returns (annualized total returns minus Treasury bill
returns) to its standard deviation.
a. none
b. field ratio
c. Sortino ratio
d. Sharpe ratio
e. Calmar ratio
Your answer is correct.
The correct answer is:
Sharpe ratio
Question 25
Correct
Mark 1.00 out of 1.00
In statistics, ________ refers to the peakedness or flatness of a histogram.
a. entropy rate
b. Markov chain
c. Sharpe ratio
d. kurtosis
e. none
Your answer is correct.
The correct answer is:
kurtosis
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Question 26
Correct
Mark 1.00 out of 1.00
Which of the following is true of the coefficient of skewness (CS)?
a. If the CS is positive, the distribution of values tails off to the left.
b. If the CS value is between -0.5 and -1, the skewness is considered negligible.
c. If the CS is closer to zero, the degree of skewness is considered to be high.
d. If the CS value is between 0.5 and 1, the skewness is considered to be moderate.
e. none
Your answer is correct.
The correct answer is:
If the CS value is between 0.5 and 1, the skewness is considered to be moderate.
Question 27
Correct
Mark 1.00 out of 1.00
For two variables, a positive correlation coefficient indicates ________.
a. a linear relationship exists for which one variable increases as the other also increases
b. a linear relationship exists for one variable that increases while the other decreases
c. that the two variables have no linear relationship with each other
d. a nonlinear relationship with no linear correlation between the two variables
e. none
Your answer is correct.
The correct answer is:
a linear relationship exists for which one variable increases as the other also increases
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Question 28
Correct
Mark 1.00 out of 1.00
________ is a measure of the linear relationship between two variables, X and Y, which does not depend on the
units of measurement.
a. Correlation
b. Skewness
c. none
d. Proportion
e. Kurtosis
Your answer is correct.
The correct answer is:
Correlation
Question 29
Correct
Mark 1.00 out of 1.00
A z-score of 1.0 means that ________.
a. none
b. the observation has no deviation from the mean
c. the observation is -1.0 standard deviation to the right of the mean
d. the observation is -1.0 standard deviation to the left of the mean
e. the observation is 1.0 standard deviation to the right of the mean
Your answer is correct.
The correct answer is:
the observation is 1.0 standard deviation to the right of the mean
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Question 30
Correct
Mark 1.00 out of 1.00
Which of the following describes a positively skewed histogram?
a. a histogram where more mass tails off toward the left
b. a histogram that has no fluctuation in mass
c. none
d. a histogram that tails off toward the right
e. a histogram where mass is only concentrated in the middle
Your answer is correct.
The correct answer is:
a histogram that tails off toward the right
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