MAT 543 Week 4 Exam 1 MAT 543 Quantitative Methods for Health Services

MAT 543 Week 4 Exam 1 MAT 543 Quantitative Methods for Health Services

Question 1

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 2

Why is a surgical procedure classified as a conversion process?

• Because a surgical procedure takes a specific array of inputs and converts them into a desired outcome.
• Because a surgical procedure strives to attain its goals by accumulating sufficient resources and converting these resources into desired services.
• Because a surgical procedure is a complex system of operation with inputs and outputs.
• Because a surgical procedure results in accomplishing articulated goals.

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Question 3

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

• count
• dependency
• utilization
• efficiency

Question 4

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 5

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 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

A Chi-square test is used to relate differences between which of the following?

• two proportions
• two means
• two data sets
• two correlations

Question 8

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

• Reject the null hypothesis.
• Accept the null hypothesis.
• Cease analyzing a data set.
• Question the validity of the data set being used

Question 9

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

• T-test
• Chi-square
• Correlation
• Mean

Question 10

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

• T-test
• Chi-Square
• Correlation
• Mean

Question 11

What is a pie chart used for?

• to display parts of a fraction
• to display portions of a whole
• to display portions of mixed numbers
• to display data sets containing inconsistencies

Question 12

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?

• increase the median only
• decrease the median only
• make no changes to the median
• change the median, which in turn would affect the mode and mean

Question 13

Which general systems flow chart symbol represents a decision?

• rectangle
• sideways diamond
• upside-down triangle
• elongated oval

Question 14

How are general systems flow charts similar to mathematical equations?

• Flow charts can be used to solve equations.
• Flow charts follow specific rules.
• Flow charts provide quantitative data.
• Flow charts follow specific algorithms.

Question 15

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 16

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 17

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 18

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 19

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 20

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

• about 20 years
• about 22 years
• about 25 years
• about 28 years

Question 21

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

Question 22

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?

• 14.5 years
• 15.5 years
• 16.5 years
• 17.5 years

Question 23

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 24

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 25

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

• 7.5%
• 8%
• 8.5%
• 9%

Course: MAT 543 Quantitative Methods for Health Services
School: Strayer University

  • : 30/01/2018
  • : 35
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