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Probability Analysis
Probability Analysis MCQs
?
The probabilities shown in the table below represent the estimate of sales for a new product. Sales (Units).. Probability 0-200 .................1...
480
380
400
800
?
A beverage stand can sell either soft drinks or coffee on any given day. If the stand sells soft Fact Pattern:drinks and the weather is hot, it will m...
$1,360
$2,200
$3,900
$1,960
?
A beverage stand can sell either soft drinks or coffee on any given day. If the stand sells soft Fact Pattern:drinks and the weather is hot, it will m...
$3,900
$2,200
$1,360
$1,960
?
A beverage stand can sell either soft drinks or coffee on any given day. If the stand sells soft Fact Pattern:drinks and the weather is hot, it will m...
$600
$300
$1,000
$500
?
Under favorable weather conditions, the management of Flesher Farms expects its raspberry crop to have a $120,000 market value. An unprotected crop s...
.167
.200
.250
.333
?
The College Honor Society sells hot pretzels at the home football games. The pretzels are sold for $1.00 each, and the cost per pret...
4,000 pretzels.
4,400 pretzels.
5,000 pretzels.
6,000 pretzels.
?
The College Honor Society sells hot pretzels at the home football games. The pretzels are sold for $1.00 each, and the cost per pret...
$1,800
$2,100
$2,800
Some amount other than those given.
?
The College Honor Society sells hot pretzels at the home football games. The pretzels are sold for $1.00 each, and the cost per pret...
$1,200
$2,100
$2,800
$800
?
Alsen Company is in the process of preparing its budget. As part of the process, the company has prepared sales estimates and estimated the probabilit...
Linear programming.
Minimax regret criteria.
Expected value analysis.
Monte Carlo simulation.
?
Philip Enterprises, distributor of video discs, is developing its budgeted cost of goods sold for next year. Philip has developed the following range...
$85,000
$84,000
$68,000
$67,200
?
The expected monetary value of an act is the
Sum of the conditional profit (loss) for each event.
Sum of the conditional profit (loss) for each event times the probability of each event’s occurrence.
Conditional profit (loss) for the best event times the probability of each event’s occurrence.
Revenue minus the costs for the act.
?
The expected value of perfect information is the
Same as the expected profit under certainty.
Sum of the conditional profit (loss) for the best event of each act times the probability of each event’s occurring.
Difference between the expected profit under uncertainty and conditional profit for the best act under certainty
Difference between the expected profit under certainty and the expected monetary value of the best act under uncertainty.
?
A company is considering three alternative machines to produce a new product. The cost structures (unit variable costs plus avoidable fixed costs) fo...
The single purpose machine should be used because of the low expected demand.
The automatic machine should be used because of the high expected demand.
The semiautomatic machine should be used because it has the lowest expected cost.
The automatic machine has the lowest expected cost.
?
A company is considering three alternative machines to produce a new product. The cost structures (unit variable costs plus avoidable fixed costs) fo...
$170,000
$130,000
$210,000
$250,000
?
A computer store sells four computer models designated as P104, X104, A104, and S104. The store manager has made random number assignments to represe...
10%
20%
50%
Some percentage other than those given.
?
A computer store sells four computer models designated as P104, X104, A104, and S104. The store manager has made random number assignments to represe...
Model P104.
Model X104.
Model A104.
Model S104.
?
A company is simulating the actions of a government agency in which 50% of the time a recall of a product is required, 40% of the time only notificat...
1-40
40-90
61-100
11-60
?
A quantitative technique useful in projecting a firm’s sales and profits is
Probability distribution theory.
Gantt charting.
Learning curves.
Queuing theory.
?
A car rental agency has a policy of replacing the tires on its car fleet as the tires wear out. Management wonders if there would be any cost savings ...
Probability analysis.
Linear programming.
Statistical sampling.
Learning curve techniques.
?
A sack contains 4 black balls 5 red balls. What is probability to draw 1 black ball and 2 red balls in one draw ?
12/21
9/20
10/21
11/2
?
Following is a table of probabilities for two separate product lines, X and Y: .tg {border-collapse:collapse;border-spacing:0;} .tg td{border-col...
X because it has the highest expected profit.
Y because it has the highest expected profit.
Y because it has the highest dispersion.
X because it has the lowest dispersion.
?
A company uses two major material inputs in its production. To prepare its manufacturing operations budget, the company has to project the cost chang...
15 percent
40 percent
80 percent
20 percent
?
Which item is not an amount statutorily withheld from employees’ wages?
Life insurance premium
Workers’ compensation
Employment Insurance
Income tax
