MAT 543 FINAL EXAM SOLVED

MAT 543 FINAL EXAM SOLVED

· Question 15 out of 5 points Analytical decision-making can be depicted in which type of pictorial format? · Question 2 5 out of 5 points In instances where no information about the probability of the future is available, how should probabilities be set? · Question 3 5 out of 5 points Decision makers will be effective if they forgo trying to control which aspect of the decision-making process? · Question 4 5 out of 5 points What is a required component to consider for every decision? · Question 5 5 out of 5 points Which method to determine costs involves using a provider-based approach? · Question 6 5 out of 5 points How is the cost-effectiveness of an intervention defined? · Question 7 5 out of 5 points Regardless of the technique chosen to estimate provider times, what should be produced in relation to service times? · Question 8 5 out of 5 points 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? · Question 9 5 out of 5 points What does TSPR stand for? · Question 10 5 out of 5 points What does PERT analysis allow managers to do regarding the use of slack? · Question 11 5 out of 5 points What is known as the difference between the earliest and latest start times for an activity? · Question 12 5 out of 5 points A health care project manager will be sorely disappointed if he holds which belief to be true once a project is finally determined? · Question 13 5 out of 5 points How is a hurdle rate used in practice inside of an organization? · Question 14 5 out of 5 points What is meant by an organization’s hurdle rate? · Question 15 5 out of 5 points How is the modified rate of return (MIRR) calculated? · Question 16 0 out of 5 points Assume a prevailing discount rate of 7%, what is the computed internal rate of return (IRR) for this series of cash flows?
Year Cash Flow
CY ($450,000)
CY + 1 $79,000
CY + 2 $125,000
CY + 3 $140,000
CY + 4 $135,000
CY + 5 $45,000 · Question 17 5 out of 5 points Which quality analysis technique is used to specifically create group consensus? · Question 18 5 out of 5 points Which chart provides upper and lower limits that are used for examining variations to determine if system changes are needed? · Question 19 5 out of 5 points Total Quality Management (TQM) is based on the premise that any system exhibits a natural level of what? · Question 20 5 out of 5 points Which chart is used to describe process, system, and how the system works? · Question 21 5 out of 5 points Which type of planning focuses on resource allocation decisions to achieve goals and objectives? · Question 22 5 out of 5 points Which external factor in healthcare strategic planning is concerned with income and education level? · Question 23 5 out of 5 points Which external factor in healthcare strategic planning is concerned with natal, mortality, and morbidity statistics? · Question 24 5 out of 5 points Based on the data in the chart, what is the primary service area for Hospital A?

Community Hospital A Hospital B Hospital C Hospital D
West 14.65% 3.19 63.29 18.87%
East 17.93 3.23 56.31 22.53
North 9.68 12.32 14.74 63.27
South 4.94 48.00 9.45 37.61
Central 10.15 6.83 30.45 52.56
Upper 5.67 56.92 8.62 28.80
Lower 44.39 1.24 25.36 29.01 · Question 25 5 out of 5 points Which type of planning focuses on space issues?
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