Mat 540 Quiz 1 Essay

1027 Words Jul 25th, 2013 5 Pages
Question 1
2 out of 2 points | | | If variable costs increase, but price and fixed costs are held constant, the break even point will decrease. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 2
2 out of 2 points | | | In general, an increase in price increases the break even point if all costs are held constant. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | |
Question 3
2 out of 2 points | | | Parameters are known, constant values that are usually coefficients of variables in equations.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | |
Question 4
2 out
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The variable cost per unit is $25 and the revenue per unit is projected to be $45. Find the break-even point.Answer | | | | | Selected Answer: | 2500.00 | Correct Answer: | | Evaluation Method | Correct Answer | Case Sensitivity | Exact Match | 2500 | | Exact Match | 2,500 | | | | | | |
Question 17
2 out of 2 points | | | Administrators at a university are planning to offer a summer seminar. The costs of reserving a room, hiring an instructor, and bringing in the equipment amount to $3000.
Suppose that it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even? Note: please report the result as a whole number, rounding if necessary and omitting the decimal point.Answer | | | | | Selected Answer: | 175 | Correct Answer: | | Evaluation Method | Correct Answer | Case Sensitivity | Exact Match | $175 | | Exact Match | 175 | | | | | | |
Question 18
2 out of 2 points | | | An inspector correctly identifies defective products 90% of the time. For the next 10

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