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MAT 543 MAT543 MAT/543 Exam 3 (Strayer 2020)

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Strayer MAT 543 Exam 3 Answers - 2020

  1. In instances where no information about the probability of the future is available, how should probabilities be set?
  2. Decision makers will be effective if they forgo trying to control which aspect of the decision-making process?
  3. Decisions are influenced scientifically by what?
  4. The probability of a decision’s possibility must always add up to what?
  5. Regardless of the technique chosen to estimate provider times, what should be produced in relation to service times?
  6. Which method to determine costs involves tracking individuals through intervention?
  7. Which method to determine costs is considered the least accurate way to collect information?
  8. If service times are clustered about one number and look symmetric, how large of a sample may be sufficient as a basis for estimating mean service time?
  9. A Work Breakdown Structure (WBS) should do what?
  10. What does PERT analysis allow managers to do regarding the use of slack?
  11. A health care project manager will be sorely disappointed if he holds which belief to be true once a project is finally determined?
  12. To understand and estimate project tasks and predecessor activities, what should managers do?
  13. A specific investment provides an opportunity for the following stream of cash flows:  Year CY+ 1 through CY + 5: $40,000 per year, years CY+6 through CY+10: $25,000 per year, year CY+11: $5,000.  Assume a discount rate of 4%. What should you be willing to pay for this investment? Solve the problem by taking advantage of the imbedded annuity in the future cash flows.
  14. What is meant by an organization’s hurdle rate?
  15. Assume a prevailing discount rate of 7%, what is the computed internal rate of return (IRR) for this series of cash flows? 
  16. Why is the modified internal rate of return (MIRR) a superior method of assessing a project as opposed to using internal rate of return (IRR)?
  17. Which quality analysis technique is used to specifically create group consensus?
  18. Which chart is used to illustrate the relationship between two variables and can suggest associative properties?
  19. What is the first step in quality analysis?
  20. Which chart is used to illustrate patterns of data collected over time and is intended to indicate patterns?
  21. Based on the data in the chart, what is the primary service area for Hospital A?
  22. Which external factor in healthcare strategic planning is concerned with total population size and population by age?
  23. Which type of planning focuses on assessing sustainability to acquire external funding?
  24. Based on the data in the chart, what is the primary service area for Hospital A?
  25. Which type of planning focuses on space issues?

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