MAT 543 Week 4 Exam 1 MAT 543 Quantitative Methods for Health Services
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
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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Capacity for a specific period of time – such as an hour, shift, day, week, month, or year – represents which concept?
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
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
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.
A Chi-square test is used to relate differences between which of the following?
• two proportions
• two means
• two data sets
• two correlations
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
What is the correct test to examine one continuously measure variable across two categorical groups?
What is the correct test to use to examine the relationship between two continuous but different variables?
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
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
Which general systems flow chart symbol represents a decision?
• sideways diamond
• upside-down triangle
• elongated oval
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.
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
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
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
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
Issues related to the time value of money become more critical as the period of time in question does what?
• stands still
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
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
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
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.
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?
What nominal rate is equivalent to an effective annual rate (EAR) of 7.77% assuming quarterly compounding?
Course: MAT 543 Quantitative Methods for Health Services
School: Strayer University
- : 30/01/2018
- : 35