MAT/543 MAT543 MAT 543 WEEK 4 EXAM 1

MAT 543 WEEK 4 EXAM 1

·  Question 1

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

·  Question 2

Some health care management methods in use today have their origins of management and productiveness relating to which of the following products?

·  Question 3

Why would a healthcare organization shift its definition of a desired or needed management competency?

·  Question 4

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

·  Question 5

How is efficiency measured?

·  Question 6

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

·  Question 7

A p-value is the specific level of probability that indicates whether or not a person should do what?

·  Question 8

What is the correct test to use to examine the relationship between two continuous but different variables?

·  Question 9

Derive the median from the following data set: [32, 38, 39, 50]. What is the exact number?

·  Question 10

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?

·  Question 11

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

·  Question 12

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?

·  Question 13

What is one reason for which a manager would create a general systems flow chart?

·  Question 14

Which general systems flow chart symbol represents a decision?

·  Question 15

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

·  Question 16

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

·  Question 17

How might a health care manager introduce simplicity to a general systems flow chart?

·  Question 18

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

·  Question 19

As the number of compounding periods increases, all else being equal, what happens to the future value (FV) of any given sum of money?

·  Question 20

Issues related to the time value of money become more critical as the period of time in question does what?

·  Question 21

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

·  Question 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?

·  Question 23

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

·  Question 24

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?

·  Question 25

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?

 

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