1] Which of the following variables is considered non-random or deterministic?

a.last year's income

b.future interest rates

c.projected value of the euro next week

d.next year's cash flow projections

2] A measurable quantity that is inherent in a problem is known as a(n):

a.problem parameter

b.variable

c.model

d.assumption

Question 3

Which of the following is an equation to determine the break-even point (BEP) in units?

a.BEP = variable cost / (fixed cost - selling price per unit)

b.BEP = fixed cost / (selling price per unit - variable cost per unit)

c.BEP = variable cost / (selling price per unit - fixed cost)

d.BEP = fixed cost / selling price per unit - variable cost per unit)

Question 4

Which of the following variables is considered random or probabilistic?

a.last year's advertising budget

b.future interest rates

c.last week's sales data

d.historical stock prices