Quiz 1

1.  Consider the following list of hospital 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 five year revenue amount?             

1. Increase it 
2. Decrease it
3. Nothing
4. Double it

2.  The appropriate graph for time series data is:            

1. Line graph
2. Bar chart
3. Column chart
4. Pie chart

3.  A pie chart should only be used when the slices are relatable portions of a whole.          

1. True 
2. False

4. A flow chart flows from left to right and from top to bottom.

1. True
2. False

5. All decisions included on a flow chart must be able to be answered as either a “Yes” or a “No”.            

1. True
2. False

6. All lines on a flow chart have arrowheads that indicate direction and sequence.            

1. True
2. False

7.    Specific symbols must be used in a flow chart to depict specific attirbutes such as a decision, particular operation or process, or a document.             

1.  True
2. False

8.   Flow charts indicate the sequential steps in a specific operational process (for example patient billing). Two charts could be prepared, one that describes how the current system works and another that indicates how the system could work.            

1.  True
2. False

9.   The two primary methods the analyst uses to gather needed information to construct a general system flow chart are:            

1.  Guesswork and flipping a coin
2. Interview and observation
3. Tape measure and scale
4. Looking it up in a book and copying

10. As the number of compounding periods increases, all else being equal, the future value of any given sum of money:            

1. Increases
2. Decreases
3. Remains the same
4. Goes to zero

11.  You wish to start a savings plan account for your newborn child’s college education. to do so, you plan to invest $4,000 each year into an account which gows at 4.5% annually. What will be the vlue of your account in 18 years?             

1. $109,760
2. $107,420
3. $112,140
4. $115,216

12. Your investment has grown from an initial deposit of $400 to a value of $1,500. The investment pays 9.5% annually. How many years have you had your money invested?             

1. Approximately 9.6 years
2. Approximately 12.7 years
3. Approximately 14.2 years
4. Approximately 16.0 years

13.  In the normal distribution of data, plus and minus two standard deviations (µ-2σ to µ+2σ) contains 95% of the data points.            

1.  True
2. False