Contracting Test 5

Question 1

Numbers that measure the percentage of price changes over time

Answer 1

Price index numbers

Question 2

Calculates price changes for a single item over time

Answer 2

Simple Price Index (eggs)

Question 3

Calculates price changes for a group of related items over time

Answer 3

Aggregate Price Index (poultry) - most are classified by region

Question 4

Calculated by adding all the numbers together and dividing by the number of values

Answer 4

Mean

Question 5

Middle value of number listed in numerical order

Answer 5

Median

Question 6

Value that occurs the most frequently

Answer 6

Mode

Question 7

Which data shape has the same median and mode?

Answer 7

Normal

Question 8

Which data shape has a “tail” pointing to the right (positive) or left (negative)?

Answer 8

Skewed - a small number of extremely positive or negative values pulling the mean to the right or left of the median

Question 9

Data shape that has two or more peaks

Answer 9

Bi- or Multi-modal

Question 10

Maximum value - min value

Answer 10

Range

Question 11

A Variable that drives price

Answer 11

Independent Variable

Question 12

The variable you are evaluating

Answer 12

Dependent Variable

Question 13

The quantity at which total revenue equals total cost

Answer 13

Break Even point

Question 14

costs remain constant, even as activity level changes

Answer 14

Fixed Cost

Question 15

Cost go up or down based on activity

Answer 15

Variable Cost

Question 16

includes a fixed and variable element

Answer 16

Semi-Variable Cost

Question 17

Pricing when unit price is under variable cost

Answer 17

Irrational Pricing Strategy

Question 18

NI/OI*OP=NP

Answer 18

Calculate a new price using an indices

Question 19

payments based on percentage or stage of completion are authorized

Answer 19

Performance Based Payment

Question 20

contract financing arrangement that deviates from FAR Part 32 is considered unusual contract financing

Answer 20

Unusual Contract financing (Advance Payment)

Question 21

payments made on any of the following bases:

– Performance measured by objective

– Accomplishing defined events

– Other quantifiable measures of results

– defined payment amounts

Answer 21

Performance Based Payments

Question 22

Types of Financing

Answer 22

Progress Payments

Performance Based Payments

Unusual Contract Financing

Question 23

Max advance payment?

Answer 23

15%

Question 24

C=F+Vu(Q)

Answer 24

Cost Volume

Question 25

Preferred Method of Government Financing

Answer 25

Performance payment

Question 26

Vu-(C2-C1)/(Q2-Q1)

Answer 26

Variable Cost

Question 27

F+Vu(Q)+Profit

Answer 27

Revenue (Ru(Q))

Question 28

Ru(Q)-F-Vu(Q)=

Answer 28

Profit

Question 29

When VU(Q) is greater the Ru(Q) is this a rational pricing strategy?

Answer 29

No, this is irrational

Question 30

F/(Ru(Q)-Vu(Q)

Answer 30

Break Even point

Question 31

(Ru-Vu)(Q)

Answer 31

Contribution income per unit