Mat 543 week 4 exam 1 all

MAT 543 WEEK 4 EXAM 1
Question 1 
Which is an example of how people in management can best operate according to science?
 
developing skills and tools in quantitative analysis
 
developing qualitative analysis skills for less pertinent situations
 
developing systematic approaches to eliminate the need for questioning variances
 
developing a system of operations driven by and focusing on numerical data
Question 2 
How is efficiency measured?
 
through formulaic cost analyses
 
as a ratio of output over input
 
by the number of healthcare patients served over a period of time
 
through financial expenditures
Question 3 
According to a core managerial competency viewpoint, how is analyzing defined?
 
the ability to formulate new ideas
 
the ability to assess new outcomes
 
the ability to evaluate current situations
 
the ability to discover what is
Question 4 
Which management theory are general managers and health administrators most likely to use?
 
Classical Management Theory
 
Human Relations Theory
 
Neo-Human Relations Theory
 
General Systems Theory
Question 5 
According to a core managerial competency viewpoint, how is implementing defined?
 
the ability to defend current policies
 
the ability to construct organizational plans
 
the ability to change organizations
 
the ability to critique organizational changes
Question 6 
Why would a healthcare organization shift its definition of a desired or needed management competency?
 
Because of resulting shifts in characteristics in their environment.
 
Because of a manager’s personal opinions altered in the face of stress.
 
Because of technology setbacks that cause company repositioning.
 
Because of anticipated economic change.
Question 7 
What is the correct test to use to examine the relationship between two continuous but different variables?
 
T-test
 
Chi-Square
 
Correlation
 
Mean
Question 8 
The appropriate graph for time series data is:
 
line graph
 
bar chart
 
column chart
 
pie chart
Question 9 
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?
 
55
 
21
 
44
 
40
Question 10 
Which number represents the mode in the following data set: [22, 18, 17, 22, 18, 22, 18, 54, 97, 18, 7]?
 
18
 
22
 
28
 
30
Question 11 
Derive the median from the following data set: [32, 38, 39, 50]. What is the exact number?
 
38
 
38.5
 
39
 
39.75
Question 12 
A Chi-square test is used to relate differences between which of the following?
 
two proportions
 
two means
 
two data sets
 
two correlations
Question 13 
What does a general systems flow chart permit one to do?
 
showcase a system’s efficiency
 
quantitatively communicate system changes
 
analyze and redesign a system
 
resolve conflict using images
Question 14 
Which general systems flow chart symbol represents a decision?
 
rectangle
 
sideways diamond
 
upside-down triangle
 
elongated oval
Question 15 
How might a health care manager introduce simplicity to a general systems flow chart?
 
by adding levels to the flow chart
 
by splitting the flow chart into two different charts
 
by providing written descriptions to a flow chart
 
by drawing a diagonal line to the flow chart for processes that need clarity
Question 16 
Which type of answer to a decision is an indicator that a general systems flow chart has been created incorrectly?
 
an answer of yes
 
an answer of no
 
an answer of maybe
 
an answer of never
Question 17 
What are two primary methods an analyst uses to gather the needed information to construct a general system flow-chart?
 
interviewing and observation
 
directing and production
 
delegating and observation
 
interviewing and participation
Question 18 
In what way could a health care manager wrongly interpret a general systems flow chart?
 
by reading the flow chart from the bottom upward
 
by reading the flow chart  from the top downward
 
by reading the flow chart from the left to right sides
 
by reading the flow chart based on preset conventions
Question 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?
 
$2,621.40
 
$3,084.00
 
$3,186.80
 
$9,458.00
Question 20 
What nominal rate is equivalent to an effective annual rate (EAR) of 7.77% assuming quarterly compounding?
 
7.5%
 
8%
 
8.5%
 
9%
Question 21 
What effective annual rate (EAR) is equivalent to a nominal rate of 14% assuming monthly compounding?
 
10.98%
 
13.93%
 
14.93%
 
17.98%
Question 22 
As the number of compounding periods increases, all else being equal, what happens to the future value (FV) of any given sum of money?
 
The FV maintains its current dollar value.
 
The FV can either increase or decrease in value given market fluctuations.
 
The FV decreases in value.
 
The FV increases in value.
Question 23 
Issues related to the time value of money become more critical as the period of time in question does what?
 
fluctuates
 
stands still
 
decreases
 
increases
Question 24 
How much up-front money must you provide to a program that will in turn guarantee to pay you $750 every six months for 12 years, with the first payment scheduled for 6 months from now? Assume investments such as this earn returns of 3.5%.
 
$12,043.78
 
$11, 984.89
 
$11, 034.23
 
$10, 966.71
Question 25 
Your investment has grown from an initial deposit of $400 to $1500. The investment pays a nominal rate of 9.5%, but interest is compounded semi-annually. Approximately how many years have you had your money in the account?
 
12.2 years
 
13.2 years
 
14.2 years
 
15.2 years
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