CUNNINGHAM'S 2002 COMPLETE CERTIFICATION TEST BANK 2

Question 1

The Economic Order Quantity is calculated by dividing the _________

A.  Sell price/( Fixed Expenses-unit costs)
B. Unit Costs/( Fixed Expenses-sell price)
C. Sell price/(Unit costs-Fixed Expenses)
D. Fixed Expenses/( sell price-unit costs)

Answer 1

CORRECT ANSWER: D

Question 2

___ is a bottom up cost analysis that is the most detailed of all of the techniques and the
most costly.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach

Answer 2

CORRECT ANSWER: C

Question 3

___ uses extrapolation from costs that were contracted for or incurred on that system
during an earlier period.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach

Answer 3

CORRECT ANSWER: D

Question 4

Querying the expert opinion from a group, summarizing results and sending it to the experts and continuing this until there is a consensus are traits of the__________

A. Alpha Technique
B. Beta Technique
C. Delta Technique
D. Delphi Technique

Answer 4

CORRECT ANSWER: D

Question 5

The OSD Cost Analysis Improvement Group is an organization outside the service
acquisition community chain. The CAIG prepares a separate and distinct cost estimate on
ACAT I programs know as the _______.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis

Answer 5

CORRECT ANSWER: C

Question 6

DoD 5000.2 requires that the program office prepare a life cycle cost estimate for all ACT 1
and ACAT 1A programs, which should cover all costs from initiation through disposal this is
called the _____________.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis

Answer 6

CORRECT ANSWER: A

Question 7

Each service agency has a cost analysis agency that prepares a separate and distinct estimate on programs. This is called the _________ . DoD 5000.2

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis

Answer 7

CORRECT ANSWER: B

Question 8

The ____to cost for estimating is based on historical information of similar existing
systems or components.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach

Answer 8

CORRECT ANSWER: B

Question 9

The DoDs primary means of collecting data on the cost that DoD contractors incur in
performing DoD programs are called____________ DoD 5000.2

A.  Commercial Summary Expense Reports
B. Contractor Summary Expense Report 
C. Contractor Cost Data Report
D. Commericial Aggregate Expense Report

Answer 9

CORRECT ANSWER: C

Question 10

The ______is used when it is desirable to cover costs quickly and it is desirable to generate economic or political benefits quickly.

A.  Cost recovery analysis
B.  Analogy approach
C.  Standard deviation
D.  Break even- analysis

Answer 10

CORRECT ANSWER: D

Question 11

________ seeks to determine the true cost of an object.

A.  Activity based Costing
B.  Financial Accounting
C.  Statistics
D.  Economic Order Quantity

Answer 11

CORRECT ANSWER: A

Question 12

True or false? Explaining specific assumptions and the rationale underlying each
assumption, and identifying sensitivity, risk and uncertainty to expose the unknowns are not components of effective economic analysis.

A.  True		B.  False

Answer 12

CORRECT ANSWER: B

Question 13

In preparation for a milestone review, the program office prepares the ______for ACT 1 and ACT 1A programs. DoD 5000.2

A. Cost Analysis Reengineering Description (CARD)
B. Complete Analysis Requirements Description (CARD)
C. Cost Analysis Requirements Description (CARD)
D.  Customer  Analysis Requirements Description

Answer 13

CORRECT ANSWER: C

Question 14

____is a line graph that is formed by connecting the frequencies of the values.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve

Answer 14

CORRECT ANSWER: A

Question 15

_________ enables users to draw inferences or correlations from small group called samples
or larger groups called population.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Inferential economics

Answer 15

CORRECT ANSWER: B

Question 16

The three most common types of descriptive statistics are measure of central tendency,
measure of dispersion and ______.

A. frequency distribution.
B. the mean
C. the mode
D. none of the above

Answer 16

CORRECT ANSWER: A

Question 17

The ____is the arithmetic average of a distribution of scores.This is useful for spotting trends.

A.  Median
B. Mode
C. Mean
D. Range

Answer 17

CORRECT ANSWER: C

Question 18

The ____divides a data in half and selects that number in the “middle” of the sample.

A.  Median
B. Mode
C. Mean
D. Range

Answer 18

CORRECT ANSWER: A

Question 19

The________ is the number that appears most frequently in the data.

A.  Median
B. Mode
C. Mean
D. Range

Answer 19

CORRECT ANSWER: B

Question 20

The simplest measure of dispersion is ____which measures the highest value minus the lowest value + 1.

A.  Median
B. Mode
C. Mean
D. Range

Answer 20

CORRECT ANSWER: D

Question 21

In ____cost estimating, the cost is based on a physical attribute of a performance
characteristic and their relationship to highly aggregated costs.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost Approach

Answer 21

CORRECT ANSWER: A

Question 22

The _____is a type of bar graph in which frequencies are represented by the lengths of the bar.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve

Answer 22

CORRECT ANSWER: B

Question 23

The type of distribution in which data is evenly distributed forming a “bell shaped polygon is
called a_____________

A. Skewed curve
B. Histogram
C. Normal curve
D. Proportion

Answer 23

CORRECT ANSWER: C

Question 24

If the curve shows a majority of values on the RIGHT side of the mean this indicates a _____

A. negatively skewed curve
B. Histogram
C. Normal curve
D. positively skewed

Answer 24

CORRECT ANSWER: A

Question 25

The number of items in a category divided by the number of items in all categories is the ___. A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 25

CORRECT ANSWER: C

Question 26

The number of items in a category X 100 divided by the number of items in all categories is the ________. A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 26

CORRECT ANSWER: B

Question 27

The number of items in a category on one date minus the number of items in the category on the second date X 100 divided by the number of items on the second date is_________ A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 27

CORRECT ANSWER: A

Question 28

The degree of relationship between two or more variables is called__________ A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 28

CORRECT ANSWER: D

Question 29

The payback period is the number of years it will take to recover__________ of a project. A. Initial investment B. Initial investment and 2 years revenue C. 2 years of revenue only D. None of the above

Answer 29

CORRECT ANSWER: A

Question 30

The _____ and ______ are measures that tell you whether the majority of values fall close or far from the mean. A. PAUC and variance B. Standard deviation and EOQ C. Standard deviation and variance D. Learning Curve and Standard Deviation

Answer 30

CORRECT ANSWER: C

Question 31

The Mean of the following number set is approximately________. 2,2,2,3,4,5,5 A. 3.5 B. 3.3 C. 5.1 D. 2.23

Answer 31

CORRECT ANSWER: B

Question 32

A formula that takes the mean of a set, subtracts the individual amounts in the set from the mean, squares the sums of those amounts and divides by the number of items in the set is called_____. A. Range B. Sample size C. Standard Deviation D. Variance

Answer 32

CORRECT ANSWER: D

Question 33

Which of these is not a component of an effective economic analysis? A. Results and recommendations that are fully addressed B. Clear Identification of mission related objectives C. Identification of feasible alternatives, excluding the status quo D. Anticipated direct or indirect costs associated with it over the life of the project.

Answer 33

CORRECT ANSWER: C

Question 34

________enables you to describe precisely a collection of quantitative information in a way that is easy to understand and interpret. They are the methods used to characterize and summarize sets of numeric data. A. Economic analysis B. Inferential statistics C. Descriptive statistics D. Cost estimate

Answer 34

CORRECT ANSWER: C

Question 35

A formula that takes the square root of the sum of the squares from the mean is called. A. Range B. Sample size C. Standard Deviation D. Variance

Answer 35

CORRECT ANSWER: C

Question 36

____ of the population lies within plus or minus 1 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 36

CORRECT ANSWER: B

Question 37

_____ of the population lies within plus or minus 2 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 37

CORRECT ANSWER: C

Question 38

_____ of the population lies within plus or minus 3 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 38

CORRECT ANSWER: D

Question 39

The calculation used to determine the optimal amount that should ordered in an organization is called the_________ . A. Standard Deviation B. Variance C. Economic Order Quantity D. Ordering and carrying costs

Answer 39

CORRECT ANSWER: C

Question 40

A(n) _____is a systematic approach to choosing the best method for allocating scarce resources. A. process improvement B. A-76 study C. Fiscal Review D. Economic analysis

Answer 40

CORRECT ANSWER: D

Question 41

___ is a bottom up cost analysis that is the most detailed of all of the techniques and the most costly. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 41

CORRECT ANSWER: C

Question 42

___ uses extrapolation from costs that were contracted for or incurred on that system during an earlier period. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 42

CORRECT ANSWER: D

Question 43

Querying the expert opinion from a group, summarizing results and sending it to the experts and continuing this until there is a consensus are traits of the__________ A. Alpha Technique B. Beta Technique C. Delta Technique D. Delphi Technique

Answer 43

CORRECT ANSWER: D

Question 44

The OSD Cost Analysis Improvement Group is an organization outside the service acquisition community chain. The CAIG prepares a separate and distinct cost estimate on ACAT I programs know as the _______. A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 44

CORRECT ANSWER: C

Question 45

DoD 5000.2 requires that the program office prepare a life cycle cost estimate for all ACT 1 and ACAT 1A programs, which should cover all costs from initiation through disposal this is called the _____________. A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 45

CORRECT ANSWER: A

Question 46

Each service agency has a cost analysis agency that prepares a separate and distinct estimate on programs. This is called the _________ . DoD 5000.2 A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 46

CORRECT ANSWER: B

Question 47

The ____to cost for estimating is based on historical information of similar existing systems or components. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 47

CORRECT ANSWER: B

Question 48

The DoDs primary means of collecting data on the cost that DoD contractors incur in performing DoD programs are called____________ DoD 5000.2 A. Commercial Summary Expense Reports B. Contractor Summary Expense Report C. Contractor Cost Data Report D. Commericial Aggregate Expense Report

Answer 48

CORRECT ANSWER: C

Question 49

The ______is used when it is desirable to cover costs quickly and it is desirable to generate economic or political benefits quickly. A. Cost recovery analysis B. Analogy approach C. Standard deviation D. Break even- analysis

Answer 49

CORRECT ANSWER: D

Question 50

________ seeks to determine the true cost of an object. A. Activity based Costing B. Financial Accounting C. Statistics D. Economic Order Quantity

Answer 50

CORRECT ANSWER: A

Question 51

True or false? Explaining specific assumptions and the rationale underlying each assumption, and identifying sensitivity, risk and uncertainty to expose the unknowns are not components of effective economic analysis. A. True B. False

Answer 51

CORRECT ANSWER: B

Question 52

In preparation for a milestone review, the program office prepares the ______for ACT 1 and ACT 1A programs. DoD 5000.2 A. Cost Analysis Reengineering Description (CARD) B. Complete Analysis Requirements Description (CARD) C. Cost Analysis Requirements Description (CARD) D. Customer Analysis Requirements Description

Answer 52

CORRECT ANSWER: C

Question 53

____is a line graph that is formed by connecting the frequencies of the values. A. Frequency polygon B. Histogram C. Normal curve D. Skewed curve

Answer 53

CORRECT ANSWER: A

Question 54

_________ enables users to draw inferences or correlations from small group called samples or larger groups called population. A. Economic analysis B. Inferential statistics C. Descriptive statistics D. Inferential economics

Answer 54

CORRECT ANSWER: B

Question 55

The three most common types of descriptive statistics are measure of central tendency, measure of dispersion and ______. A. frequency distribution. B. the mean C. the mode D. none of the above

Answer 55

CORRECT ANSWER: A

Question 56

The ____is the arithmetic average of a distribution of scores.This is useful for spotting trends. A. Median B. Mode C. Mean D. Range

Answer 56

CORRECT ANSWER: C

Question 57

The ____divides a data in half and selects that number in the "middle" of the sample. A. Median B. Mode C. Mean D. Range

Answer 57

CORRECT ANSWER: A

Question 58

The________ is the number that appears most frequently in the data. A. Median B. Mode C. Mean D. Range

Answer 58

CORRECT ANSWER: B

Question 59

The simplest measure of dispersion is ____which measures the highest value minus the lowest value + 1. A. Median B. Mode C. Mean D. Range

Answer 59

CORRECT ANSWER: D

Question 60

In ____cost estimating, the cost is based on a physical attribute of a performance characteristic and their relationship to highly aggregated costs. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost Approach

Answer 60

CORRECT ANSWER: A

Question 61

The _____is a type of bar graph in which frequencies are represented by the lengths of the bar. A. Frequency polygon B. Histogram C. Normal curve D. Skewed curve

Answer 61

CORRECT ANSWER: B

Question 62

The type of distribution in which data is evenly distributed forming a "bell shaped polygon is called a_____________ A. Skewed curve B. Histogram C. Normal curve D. Proportion

Answer 62

CORRECT ANSWER: C

Question 63

If the curve shows a majority of values on the RIGHT side of the mean this indicates a _____ A. negatively skewed curve B. Histogram C. Normal curve D. positively skewed

Answer 63

CORRECT ANSWER: A

Question 64

The number of items in a category divided by the number of items in all categories is the ___. A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 64

CORRECT ANSWER: C

Question 65

The number of items in a category X 100 divided by the number of items in all categories is the ________. A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 65

CORRECT ANSWER: B

Question 66

The number of items in a category on one date minus the number of items in the category on the second date X 100 divided by the number of items on the second date is_________ A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 66

CORRECT ANSWER: A

Question 67

The degree of relationship between two or more variables is called__________ A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 67

CORRECT ANSWER: D

Question 68

The payback period is the number of years it will take to recover__________ of a project. A. Initial investment B. Initial investment and 2 years revenue C. 2 years of revenue only D. None of the above

Answer 68

CORRECT ANSWER: A

Question 69

The _____ and ______ are measures that tell you whether the majority of values fall close or far from the mean. A. PAUC and variance B. Standard deviation and EOQ C. Standard deviation and variance D. Learning Curve and Standard Deviation

Answer 69

CORRECT ANSWER: C

Question 70

The Mean of the following number set is approximately________. 2,2,2,3,4,5,5 A. 3.5 B. 3.3 C. 5.1 D. 2.23

Answer 70

CORRECT ANSWER: B

Question 71

A formula that takes the mean of a set, subtracts the individual amounts in the set from the mean, squares the sums of those amounts and divides by the number of items in the set is called_____. A. Range B. Sample size C. Standard Deviation D. Variance

Answer 71

CORRECT ANSWER: D

Question 72

Which of these is not a component of an effective economic analysis? A. Results and recommendations that are fully addressed B. Clear Identification of mission related objectives C. Identification of feasible alternatives, excluding the status quo D. Anticipated direct or indirect costs associated with it over the life of the project.

Answer 72

CORRECT ANSWER: C

Question 73

________enables you to describe precisely a collection of quantitative information in a way that is easy to understand and interpret. They are the methods used to characterize and summarize sets of numeric data. A. Economic analysis B. Inferential statistics C. Descriptive statistics D. Cost estimate

Answer 73

CORRECT ANSWER: C

Question 74

A formula that takes the square root of the sum of the squares from the mean is called. A. Range B. Sample size C. Standard Deviation D. Variance

Answer 74

CORRECT ANSWER: C

Question 75

____ of the population lies within plus or minus 1 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 75

CORRECT ANSWER: B

Question 76

_____ of the population lies within plus or minus 2 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 76

CORRECT ANSWER: C

Question 77

_____ of the population lies within plus or minus 3 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 77

CORRECT ANSWER: D

Question 78

The calculation used to determine the optimal amount that should ordered in an organization is called the_________ . A. Standard Deviation B. Variance C. Economic Order Quantity D. Ordering and carrying costs

Answer 78

CORRECT ANSWER: C

Question 79

A(n) _____is a systematic approach to choosing the best method for allocating scarce resources. A. process improvement B. A-76 study C. Fiscal Review D. Economic analysis

Answer 79

CORRECT ANSWER: D

Question 80

The two steps to achieve systematic evaluation employs the two principles of___________. A. Consider all feasible alternatives and adjust costs and benefits to "present value" B. Consider all alternatives and adjust costs and benefits to "present value" C. Consider all feasible alternatives and adjust costs and benefits to "future value" D. Consider all alternatives and adjust costs and benefits to "present value"

Answer 80

CORRECT ANSWER: A

Question 81

The Mode of the following number set is ________. 2,2,2,3,4,5,5 A. 2 B. 3 C. 4 D. 5

Answer 81

CORRECT ANSWER: A

Question 82

The decrease in the amount of time to produce an item would be termed as________ benefit and is a______________. A. Quantifiable, Productivity Improvement B. Non-Quantifiable Productivity Improvement C. Non Quantifiable, Cost savings D. Quantifiable, Cost avoidance.

Answer 82

CORRECT ANSWER: A

Question 83

Examples of information that can be used to collect, classify and analyze data before applying cost-estimating include all EXCEPT. A. Audit Reports B. Technical Manuals C. Surveys D. All of these items may be used.

Answer 83

CORRECT ANSWER: D

Question 84

Costs that are considered equal no matter what alternative is selected are called_________ A. Variable Costs B. Common Costs C. Sunk Costs D. Opportunity Costs

Answer 84

CORRECT ANSWER: B

Question 85

___ is a bottom up cost analysis that is the most detailed of all of the techniques and the most costly. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 85

CORRECT ANSWER: C

Question 86

___ uses extrapolation from costs that were contracted for or incurred on that system during an earlier period. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 86

CORRECT ANSWER: D

Question 87

Querying the expert opinion from a group, summarizing results and sending it to the experts and continuing this until there is a consensus are traits of the__________ A. Alpha Technique B. Beta Technique C. Delta Technique D. Delphi Technique

Answer 87

CORRECT ANSWER: D

Question 88

The OSD Cost Analysis Improvement Group is an organization outside the service acquisition community chain. The CAIG prepares a separate and distinct cost estimate on ACAT I programs know as the _______. A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 88

CORRECT ANSWER: C

Question 89

DoD 5000.2 requires that the program office prepare a life cycle cost estimate for all ACT 1 and ACAT 1A programs, which should cover all costs from initiation through disposal this is called the _____________. A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 89

CORRECT ANSWER: A

Question 90

Each service agency has a cost analysis agency that prepares a separate and distinct estimate on programs. This is called the _________ . DoD 5000.2 A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 90

CORRECT ANSWER: B

Question 91

The ____to cost for estimating is based on historical information of similar existing systems or components. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 91

CORRECT ANSWER: B

Question 92

The DoDs primary means of collecting data on the cost that DoD contractors incur in performing DoD programs are called____________ DoD 5000.2 A. Commercial Summary Expense Reports B. Contractor Summary Expense Report C. Contractor Cost Data Report D. Commericial Aggregate Expense Report

Answer 92

CORRECT ANSWER: C

Question 93

The ______is used when it is desirable to cover costs quickly and it is desirable to generate economic or political benefits quickly. A. Cost recovery analysis B. Analogy approach C. Standard deviation D. Break even- analysis

Answer 93

CORRECT ANSWER: D

Question 94

________ seeks to determine the true cost of an object. A. Activity based Costing B. Financial Accounting C. Statistics D. Economic Order Quantity

Answer 94

CORRECT ANSWER: A

Question 95

True or false? Explaining specific assumptions and the rationale underlying each assumption, and identifying sensitivity, risk and uncertainty to expose the unknowns are not components of effective economic analysis. A. True B. False

Answer 95

CORRECT ANSWER: B

Question 96

In preparation for a milestone review, the program office prepares the ______for ACT 1 and ACT 1A programs. DoD 5000.2 A. Cost Analysis Reengineering Description (CARD) B. Complete Analysis Requirements Description (CARD) C. Cost Analysis Requirements Description (CARD) D. Customer Analysis Requirements Description

Answer 96

CORRECT ANSWER: C

Question 97

____is a line graph that is formed by connecting the frequencies of the values. A. Frequency polygon B. Histogram C. Normal curve D. Skewed curve

Answer 97

CORRECT ANSWER: A

Question 98

_________ enables users to draw inferences or correlations from small group called samples or larger groups called population. A. Economic analysis B. Inferential statistics C. Descriptive statistics D. Inferential economics

Answer 98

CORRECT ANSWER: B

Question 99

The three most common types of descriptive statistics are measure of central tendency, measure of dispersion and ______. A. frequency distribution. B. the mean C. the mode D. none of the above

Answer 99

CORRECT ANSWER: A

Question 100

The ____is the arithmetic average of a distribution of scores.This is useful for spotting trends. A. Median B. Mode C. Mean D. Range

Answer 100

CORRECT ANSWER: C

Question 101

The ____divides a data in half and selects that number in the "middle" of the sample. A. Median B. Mode C. Mean D. Range

Answer 101

CORRECT ANSWER: A

Question 102

The________ is the number that appears most frequently in the data. A. Median B. Mode C. Mean D. Range

Answer 102

CORRECT ANSWER: B

Question 103

The simplest measure of dispersion is ____which measures the highest value minus the lowest value + 1. A. Median B. Mode C. Mean D. Range

Answer 103

CORRECT ANSWER: D

Question 104

In ____cost estimating, the cost is based on a physical attribute of a performance characteristic and their relationship to highly aggregated costs. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost Approach

Answer 104

CORRECT ANSWER: A

Question 105

The _____is a type of bar graph in which frequencies are represented by the lengths of the bar. A. Frequency polygon B. Histogram C. Normal curve D. Skewed curve

Answer 105

CORRECT ANSWER: B

Question 106

The type of distribution in which data is evenly distributed forming a "bell shaped polygon is called a_____________ A. Skewed curve B. Histogram C. Normal curve D. Proportion

Answer 106

CORRECT ANSWER: C

Question 107

If the curve shows a majority of values on the RIGHT side of the mean this indicates a _____ A. negatively skewed curve B. Histogram C. Normal curve D. positively skewed

Answer 107

CORRECT ANSWER: A

Question 108

The number of items in a category divided by the number of items in all categories is the ___. A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 108

CORRECT ANSWER: C

Question 109

The number of items in a category X 100 divided by the number of items in all categories is the ________. A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 109

CORRECT ANSWER: B

Question 110

The number of items in a category on one date minus the number of items in the category on the second date X 100 divided by the number of items on the second date is_________ A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 110

CORRECT ANSWER: A

Question 111

The degree of relationship between two or more variables is called__________ A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 111

CORRECT ANSWER: D

Question 112

The payback period is the number of years it will take to recover__________ of a project. A. Initial investment B. Initial investment and 2 years revenue C. 2 years of revenue only D. None of the above

Answer 112

CORRECT ANSWER: A

Question 113

The _____ and ______ are measures that tell you whether the majority of values fall close or far from the mean. A. PAUC and variance B. Standard deviation and EOQ C. Standard deviation and variance D. Learning Curve and Standard Deviation

Answer 113

CORRECT ANSWER: C

Question 114

The Mean of the following number set is approximately________. 2,2,2,3,4,5,5 A. 3.5 B. 3.3 C. 5.1 D. 2.23

Answer 114

CORRECT ANSWER: B

Question 115

A formula that takes the mean of a set, subtracts the individual amounts in the set from the mean, squares the sums of those amounts and divides by the number of items in the set is called_____. A. Range B. Sample size C. Standard Deviation D. Variance

Answer 115

CORRECT ANSWER: D

Question 116

Which of these is not a component of an effective economic analysis? A. Results and recommendations that are fully addressed B. Clear Identification of mission related objectives C. Identification of feasible alternatives, excluding the status quo D. Anticipated direct or indirect costs associated with it over the life of the project.

Answer 116

CORRECT ANSWER: C

Question 117

________enables you to describe precisely a collection of quantitative information in a way that is easy to understand and interpret. They are the methods used to characterize and summarize sets of numeric data. A. Economic analysis B. Inferential statistics C. Descriptive statistics D. Cost estimate

Answer 117

CORRECT ANSWER: C

Question 118

A formula that takes the square root of the sum of the squares from the mean is called. A. Range B. Sample size C. Standard Deviation D. Variance

Answer 118

CORRECT ANSWER: C

Question 119

____ of the population lies within plus or minus 1 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 119

CORRECT ANSWER: B

Question 120

_____ of the population lies within plus or minus 2 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 120

CORRECT ANSWER: C

Question 121

_____ of the population lies within plus or minus 3 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 121

CORRECT ANSWER: D

Question 122

The calculation used to determine the optimal amount that should ordered in an organization is called the_________ . A. Standard Deviation B. Variance C. Economic Order Quantity D. Ordering and carrying costs

Answer 122

CORRECT ANSWER: C

Question 123

A(n) _____is a systematic approach to choosing the best method for allocating scarce resources. A. process improvement B. A-76 study C. Fiscal Review D. Economic analysis

Answer 123

CORRECT ANSWER: D

Question 124

The two steps to achieve systematic evaluation employs the two principles of___________. A. Consider all feasible alternatives and adjust costs and benefits to "present value" B. Consider all alternatives and adjust costs and benefits to "present value" C. Consider all feasible alternatives and adjust costs and benefits to "future value" D. Consider all alternatives and adjust costs and benefits to "present value"

Answer 124

CORRECT ANSWER: A

Question 125

The Mode of the following number set is ________. 2,2,2,3,4,5,5 A. 2 B. 3 C. 4 D. 5

Answer 125

CORRECT ANSWER: A

Question 126

The decrease in the amount of time to produce an item would be termed as________ benefit and is a______________. A. Quantifiable, Productivity Improvement B. Non-Quantifiable Productivity Improvement C. Non Quantifiable, Cost savings D. Quantifiable, Cost avoidance.

Answer 126

CORRECT ANSWER: A

Question 127

Examples of information that can be used to collect, classify and analyze data before applying cost-estimating include all EXCEPT. A. Audit Reports B. Technical Manuals C. Surveys D. All of these items may be used.

Answer 127

CORRECT ANSWER: D

Question 128

Costs that are considered equal no matter what alternative is selected are called_________ A. Variable Costs B. Common Costs C. Sunk Costs D. Opportunity Costs

Answer 128

CORRECT ANSWER: B

Question 129

Assets that may result when systems or organizations phase out and release personnel, equipment, nd facilities that are available for use by new or existing systems or organizations are called_________. A. Inherited B. Donated C. Abandoned Assets D. Recycled Assets

Answer 129

CORRECT ANSWER: A

Question 130

_________is the estimated future value of assets that will be available for alternative uses at a later date when the system will phase out of the force or out of use. A. Salvage Value B. Projected Value C. Residual Value D. None of the above

Answer 130

CORRECT ANSWER: C

Question 131

_________is the value of an item at the end of its physical life. A. Salvage Value B. Projected Value C. Residual Value D. Disposed Value

Answer 131

CORRECT ANSWER: A

Question 132

___________dollars are those that are the result of having the effects of inflation removed and are associated with the base year. A. Current dollars. B. Euro dollars C. "Blue" or " Green" dollars D. Constant dollars

Answer 132

CORRECT ANSWER: D

Question 133

A ____is a type of Economic Analysis that documents the review of an entire process such as supply. It requires a risk assessment of each alternative requesting high and low estimates for each cost element an subsequent probability distribution of expected costs. A. Capital Budget Analysis B. Environmental Quality Economic Analyses C. Functional Economic Analysis D. Competitive Source Economic Analysis

Answer 133

CORRECT ANSWER: C

Question 134

___ is a bottom up cost analysis that is the most detailed of all of the techniques and the most costly. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 134

CORRECT ANSWER: C

Question 135

___ uses extrapolation from costs that were contracted for or incurred on that system during an earlier period. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 135

CORRECT ANSWER: D

Question 136

Querying the expert opinion from a group, summarizing results and sending it to the experts and continuing this until there is a consensus are traits of the__________ A. Alpha Technique B. Beta Technique C. Delta Technique D. Delphi Technique

Answer 136

CORRECT ANSWER: D

Question 137

The OSD Cost Analysis Improvement Group is an organization outside the service acquisition community chain. The CAIG prepares a separate and distinct cost estimate on ACAT I programs know as the _______. A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 137

CORRECT ANSWER: C

Question 138

DoD 5000.2 requires that the program office prepare a life cycle cost estimate for all ACT 1 and ACAT 1A programs, which should cover all costs from initiation through disposal this is called the _____________. A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 138

CORRECT ANSWER: A

Question 139

Each service agency has a cost analysis agency that prepares a separate and distinct estimate on programs. This is called the _________ . DoD 5000.2 A. Program Office Estimate B. Component Cost Analysis C. Independent Cost Estimate D. Break Even Analysis

Answer 139

CORRECT ANSWER: B

Question 140

The ____to cost for estimating is based on historical information of similar existing systems or components. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost approach

Answer 140

CORRECT ANSWER: B

Question 141

The DoDs primary means of collecting data on the cost that DoD contractors incur in performing DoD programs are called____________ DoD 5000.2 A. Commercial Summary Expense Reports B. Contractor Summary Expense Report C. Contractor Cost Data Report D. Commericial Aggregate Expense Report

Answer 141

CORRECT ANSWER: C

Question 142

The ______is used when it is desirable to cover costs quickly and it is desirable to generate economic or political benefits quickly. A. Cost recovery analysis B. Analogy approach C. Standard deviation D. Break even- analysis

Answer 142

CORRECT ANSWER: D

Question 143

________ seeks to determine the true cost of an object. A. Activity based Costing B. Financial Accounting C. Statistics D. Economic Order Quantity

Answer 143

CORRECT ANSWER: A

Question 144

True or false? Explaining specific assumptions and the rationale underlying each assumption, and identifying sensitivity, risk and uncertainty to expose the unknowns are not components of effective economic analysis. A. True B. False

Answer 144

CORRECT ANSWER: B

Question 145

In preparation for a milestone review, the program office prepares the ______for ACT 1 and ACT 1A programs. DoD 5000.2 A. Cost Analysis Reengineering Description (CARD) B. Complete Analysis Requirements Description (CARD) C. Cost Analysis Requirements Description (CARD) D. Customer Analysis Requirements Description

Answer 145

CORRECT ANSWER: C

Question 146

____is a line graph that is formed by connecting the frequencies of the values. A. Frequency polygon B. Histogram C. Normal curve D. Skewed curve

Answer 146

CORRECT ANSWER: A

Question 147

_________ enables users to draw inferences or correlations from small group called samples or larger groups called population. A. Economic analysis B. Inferential statistics C. Descriptive statistics D. Inferential economics

Answer 147

CORRECT ANSWER: B

Question 148

The three most common types of descriptive statistics are measure of central tendency, measure of dispersion and ______. A. frequency distribution. B. the mean C. the mode D. none of the above

Answer 148

CORRECT ANSWER: A

Question 149

The ____is the arithmetic average of a distribution of scores.This is useful for spotting trends. A. Median B. Mode C. Mean D. Range

Answer 149

CORRECT ANSWER: C

Question 150

The ____divides a data in half and selects that number in the "middle" of the sample. A. Median B. Mode C. Mean D. Range

Answer 150

CORRECT ANSWER: A

Question 151

The________ is the number that appears most frequently in the data. A. Median B. Mode C. Mean D. Range

Answer 151

CORRECT ANSWER: B

Question 152

The simplest measure of dispersion is ____which measures the highest value minus the lowest value + 1. A. Median B. Mode C. Mean D. Range

Answer 152

CORRECT ANSWER: D

Question 153

In ____cost estimating, the cost is based on a physical attribute of a performance characteristic and their relationship to highly aggregated costs. A. Parametric approach B. Analogy approach C. Engineering approach D. Actual Cost Approach

Answer 153

CORRECT ANSWER: A

Question 154

The _____is a type of bar graph in which frequencies are represented by the lengths of the bar. A. Frequency polygon B. Histogram C. Normal curve D. Skewed curve

Answer 154

CORRECT ANSWER: B

Question 155

The type of distribution in which data is evenly distributed forming a "bell shaped polygon is called a_____________ A. Skewed curve B. Histogram C. Normal curve D. Proportion

Answer 155

CORRECT ANSWER: C

Question 156

If the curve shows a majority of values on the RIGHT side of the mean this indicates a _____ A. negatively skewed curve B. Histogram C. Normal curve D. positively skewed

Answer 156

CORRECT ANSWER: A

Question 157

The number of items in a category divided by the number of items in all categories is the ___. A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 157

CORRECT ANSWER: C

Question 158

The number of items in a category X 100 divided by the number of items in all categories is the ________. A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 158

CORRECT ANSWER: B

Question 159

The number of items in a category on one date minus the number of items in the category on the second date X 100 divided by the number of items on the second date is_________ A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 159

CORRECT ANSWER: A

Question 160

The degree of relationship between two or more variables is called__________ A. Percentage change B. Percentage C. Proportion D. Correlation

Answer 160

CORRECT ANSWER: D

Question 161

The payback period is the number of years it will take to recover__________ of a project. A. Initial investment B. Initial investment and 2 years revenue C. 2 years of revenue only D. None of the above

Answer 161

CORRECT ANSWER: A

Question 162

The _____ and ______ are measures that tell you whether the majority of values fall close or far from the mean. A. PAUC and variance B. Standard deviation and EOQ C. Standard deviation and variance D. Learning Curve and Standard Deviation

Answer 162

CORRECT ANSWER: C

Question 163

The Mean of the following number set is approximately________. 2,2,2,3,4,5,5 A. 3.5 B. 3.3 C. 5.1 D. 2.23

Answer 163

CORRECT ANSWER: B

Question 164

A formula that takes the mean of a set, subtracts the individual amounts in the set from the mean, squares the sums of those amounts and divides by the number of items in the set is called_____. A. Range B. Sample size C. Standard Deviation D. Variance

Answer 164

CORRECT ANSWER: D

Question 165

Which of these is not a component of an effective economic analysis? A. Results and recommendations that are fully addressed B. Clear Identification of mission related objectives C. Identification of feasible alternatives, excluding the status quo D. Anticipated direct or indirect costs associated with it over the life of the project.

Answer 165

CORRECT ANSWER: C

Question 166

________enables you to describe precisely a collection of quantitative information in a way that is easy to understand and interpret. They are the methods used to characterize and summarize sets of numeric data. A. Economic analysis B. Inferential statistics C. Descriptive statistics D. Cost estimate

Answer 166

CORRECT ANSWER: C

Question 167

A formula that takes the square root of the sum of the squares from the mean is called. A. Range B. Sample size C. Standard Deviation D. Variance

Answer 167

CORRECT ANSWER: C

Question 168

____ of the population lies within plus or minus 1 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 168

CORRECT ANSWER: B

Question 169

_____ of the population lies within plus or minus 2 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 169

CORRECT ANSWER: C

Question 170

_____ of the population lies within plus or minus 3 standard deviation under a normal curve. A. 54% B. 68% C. 95.4% D. 99.7%

Answer 170

CORRECT ANSWER: D

Question 171

The calculation used to determine the optimal amount that should ordered in an organization is called the_________ . A. Standard Deviation B. Variance C. Economic Order Quantity D. Ordering and carrying costs

Answer 171

CORRECT ANSWER: C

Question 172

A(n) _____is a systematic approach to choosing the best method for allocating scarce resources. A. process improvement B. A-76 study C. Fiscal Review D. Economic analysis

Answer 172

CORRECT ANSWER: D

Question 173

The two steps to achieve systematic evaluation employs the two principles of___________. A. Consider all feasible alternatives and adjust costs and benefits to "present value" B. Consider all alternatives and adjust costs and benefits to "present value" C. Consider all feasible alternatives and adjust costs and benefits to "future value" D. Consider all alternatives and adjust costs and benefits to "present value"

Answer 173

CORRECT ANSWER: A

Question 174

The Mode of the following number set is ________. 2,2,2,3,4,5,5 A. 2 B. 3 C. 4 D. 5

Answer 174

CORRECT ANSWER: A

Question 175

The decrease in the amount of time to produce an item would be termed as________ benefit and is a______________. A. Quantifiable, Productivity Improvement B. Non-Quantifiable Productivity Improvement C. Non Quantifiable, Cost savings D. Quantifiable, Cost avoidance.

Answer 175

CORRECT ANSWER: A

Question 176

Examples of information that can be used to collect, classify and analyze data before applying cost-estimating include all EXCEPT. A. Audit Reports B. Technical Manuals C. Surveys D. All of these items may be used.

Answer 176

CORRECT ANSWER: D

Question 177

Costs that are considered equal no matter what alternative is selected are called_________ A. Variable Costs B. Common Costs C. Sunk Costs D. Opportunity Costs

Answer 177

CORRECT ANSWER: B

Question 178

Assets that may result when systems or organizations phase out and release personnel, equipment, nd facilities that are available for use by new or existing systems or organizations are called_________. A. Inherited B. Donated C. Abandoned Assets D. Recycled Assets

Answer 178

CORRECT ANSWER: A

Question 179

_________is the estimated future value of assets that will be available for alternative uses at a later date when the system will phase out of the force or out of use. A. Salvage Value B. Projected Value C. Residual Value D. None of the above

Answer 179

CORRECT ANSWER: C

Question 180

_________is the value of an item at the end of its physical life. A. Salvage Value B. Projected Value C. Residual Value D. Disposed Value

Answer 180

CORRECT ANSWER: A

Question 181

___________dollars are those that are the result of having the effects of inflation removed and are associated with the base year. A. Current dollars. B. Euro dollars C. "Blue" or " Green" dollars D. Constant dollars

Answer 181

CORRECT ANSWER: D

Question 182

A ____is a type of Economic Analysis that documents the review of an entire process such as supply. It requires a risk assessment of each alternative requesting high and low estimates for each cost element an subsequent probability distribution of expected costs. A. Capital Budget Analysis B. Environmental Quality Economic Analyses C. Functional Economic Analysis D. Competitive Source Economic Analysis

Answer 182

CORRECT ANSWER: C