MAT/543 MAT543 MAT 543 WEEK 4 EXAM 1

How is efficiency measured?

Capacity for a specific period of time – such as an hour, shift, day, week, month, or year – represents which concept?

According to a core managerial competency viewpoint, how is analyzing defined?

Which is an example of how people in management can best operate according to science?

Why is a surgical procedure classified as a conversion process?

Accomplishing a defined task, such as creating a drug to cure a specific infection, is an example of what concept?

Consider the following list of hospital division operating revenues for the past five years: $200,000, $315,000, $385,000, $415,000, $427,000. If the amount in year five was found to actually be $515,000, what would this do to the median 5-year revenue amount?

What is the correct test to examine one continuously measure variable across two categorical groups?

Which number represents the mode in the following data set: [22, 18, 17, 22, 18, 22, 18, 54, 97, 18, 7]?

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?

What is a pie chart used for?

The appropriate graph for time series data is:

Which general systems flow chart symbol represents a decision?

What are two primary methods an analyst uses to gather the needed information to construct a general system flow-chart?

Which general systems flow chart symbol represents start or stop?

How are general systems flow charts similar to mathematical equations?

What does a general systems flow chart permit one to do?

In what way could a health care manager wrongly interpret a general systems flow chart?

How many years would it take you to triple your investment if your money compounds monthly at an annual rate of 5%?

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?

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?

What nominal rate is equivalent to an effective annual rate (EAR) of 7.77% assuming quarterly compounding?

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?

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%.

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?