# MAT 543 MAT543 MAT/543 Exam 1 (Strayer 2020)

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Strayer MAT 543 Exam 1 Answers - 2020

1. According to a core managerial competency viewpoint, how is implementing defined?
2. Capacity for a specific period of time – such as an hour, shift, day, week, month, or year – represents which concept?
3. Accomplishing a defined task, such as creating a drug to cure a specific infection, is an example of what concept?
4. Which management theory are general managers and health administrators most likely to use?
5. Why is a surgical procedure classified as a conversion process?
6. According to a core managerial competency viewpoint, how is analyzing defined?
7. A Chi-square test is used to relate differences between which of the following?
8. A p-value is the specific level of probability that indicates whether or not a person should do what?
9. What is the correct test to examine one continuously measure variable across two categorical groups?
10. Which number represents the mode in the following data set: [22, 18, 17, 22, 18, 22, 18, 54, 97, 18, 7]?
11. Calculate the mean of the following data set: [34, 45, 55, 43, 21, 55, 19, 60, 62]. What is the answer rounded to the nearest whole number?
12. Derive the median from the following data set: [32, 38, 39, 50]. What is the exact number?
13. How might a health care manager introduce simplicity to a general systems flow chart?
14. Which general systems flow chart symbol represents start or stop?
15. What does a general systems flow chart permit one to do?
16. If a general system flow chart has too many needless steps, what can be done to simplify it?
17. What is one reason for which a manager would create a general systems flow chart?
18. What are two primary methods an analyst uses to gather the needed information to construct a general system flow-chart?
19. An initial deposit of \$2,570 is made into a money market bank account that promises to pay 2% interest annually. At the end of 12 months, how much interest on the initial deposit is earned?
20. What effective annual rate (EAR) is equivalent to a nominal rate of 14% assuming monthly compounding?
21. Your investment has grown from an initial deposit of \$400 to \$1,500. The investment pays 9.5% interest annually. Approximately how many years have you had your money invested?
22. You wish to start a savings plan for your newborn child’s college education.  To do so, you plan to invest \$4,000 each year into an account that grows at 4.5% annually. What will be the value of your account in 18 years?
23. Issues related to the time value of money become more critical as the period of time in question does what?
24. What nominal rate is equivalent to an effective annual rate (EAR) of 7.77% assuming quarterly compounding?
25. As the number of compounding periods increases, all else being equal, what happens to the future value (FV) of any given sum of money?

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