Contracting Test 5 Flashcards Preview

18-001 Test 2 > Contracting Test 5 > Flashcards

Flashcards in Contracting Test 5 Deck (31):
1

Numbers that measure the percentage of price changes over time

Price index numbers

2

Calculates price changes for a single item over time

Simple Price Index (eggs)

3

Calculates price changes for a group of related items over time

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

4

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

Mean

5

Middle value of number listed in numerical order

Median

6

Value that occurs the most frequently

Mode

7

Which data shape has the same median and mode?

Normal

A image thumb
8

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

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

A image thumb
9

Data shape that has two or more peaks

Bi- or Multi-modal

A image thumb
10

Maximum value - min value

Range

11

A Variable that drives price

Independent Variable

12

The variable you are evaluating

Dependent Variable

13

The quantity at which total revenue equals total cost

Break Even point

14

costs remain constant, even as activity level changes

Fixed Cost

15

Cost go up or down based on activity

Variable Cost

16

 

includes a fixed and variable element

Semi-Variable Cost

17

Pricing when unit price is under variable cost

Irrational Pricing Strategy

18

NI/OI*OP=NP

Calculate a new price using an indices

19

payments based on percentage or stage of completion are authorized 

Performance Based Payment

20

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

Unusual Contract financing (Advance Payment)

21

payments made on any of the following bases:

– Performance measured by objective

– Accomplishing defined events

– Other quantifiable measures of results

– defined payment amounts

 

 

Performance Based Payments

22

Types of Financing

Progress Payments

Performance Based Payments

Unusual Contract Financing

23

Max advance payment?

15%

24

C=F+Vu(Q)

Cost Volume

25

Preferred Method of Government Financing

Performance payment

26

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

Variable Cost

27

 F+Vu(Q)+Profit 

Revenue (Ru(Q))

28

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

Profit

29

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

No, this is irrational

30

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

Break Even point

31

(Ru-Vu)(Q)

Contribution income per unit