**MAT 540 Week 1, Quiz 1**

**SET 1**

1. Which of the following is incorrect with respect to the use of models in decision making?

2. The probabilities of mutually exclusive events sum to zero.

3. The term decision analysis refers to testing how a problem solution reacts to changes in one or more of the model parameters.

4. Variable costs are independent of volume and remain constant.

5. A frequency distribution is an organization of numerical data about the events in an experiment.

6. Objective probabilities that can be stated prior to the occurrence of an event are

7. A set of events is collectively exhaustive when it includes _______ the events that can occur in an experiment.

8. Which of the following is not an alternative name for management science?

9. Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model?

10.____________ techniques include uncertainty and assume that there can be more than one model solution.

11. A ___________ probability is the probability that two or more events that are not mutually exclusive can occur simultaneously.

12. Total cost equal the fixed cost plus the variable cost per unit divided by volume.

13. Profit is the difference between total revenue and total cost.

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

15. In a given experiment, the probabilities of all mutually exclusive events sum to one.

16. An experiment is an activity that results in one of several possible outcomes.

17. Fixed costs depend on the number of items produced.

18. The steps of the scientific method are:

19. A model is a functional relationship and include:

20. In a given experiment the probabilities of mutually exclusive events sum to…