SCEA CERTIFICATION EXAM: PRACTICE QUESTIONS AND STUDY AID

Transcription

1 SCEA CERTIFICATION EAM: PRACTICE QUESTIONS AND STUDY AID

2 Lear Regresso Formulas Cheat Sheet You ma use the followg otes o lear regresso to work eam questos. Let be a depedet varable ad be a depedet varable the lear model b a +, where a ad b are costats. The followg ad,,, ; are the th pared observatos of ad. 2 2 The formulas for a ad b that determe a le best fttg the data the sese of mmzg the sum of the squared model errors are: ( ) ( ) ( ) ( ) a ad a b, where, the average of the ad, the average of the.

3 . Solve the equato ( b + ) a 0 for. (log (a) b) 2 2. Solve the equato for r. r (s 2 ) a r (k) a r 2 ( s + k) 3. At what pot does the le: tersect the le 2 ( -, -) 4. At what pot does the le: tersect the le 5 3 (3/3, 56/3) 5. Cosder the followg producto data: Number of uts produced Labor hours observed Estmate the labor hour requremets for: to oe decmal place usg terpolato; 23 uts uts uts to oe decmal place usg lear regresso (Y ) 3/3/05

4 6. Cosder the followg producto data: Number of uts produced Labor hours observed Determe the slope ad tercept of the le coectg the two observatos of uts produced ad labor hours observed. Estmate the labor hour requremets for: 23 uts uts uts 4.5 to oe decmal place usg the slope ad tercept of the le (Y ) 7. Defe the followg acroms from EVM: BCWP Budgeted cost of work performed ACWP Actual cost of work performed BCWS Budgeted cost of work scheduled EAC Estmate at complete BAC Budget at complete CPI Cost performace de SPI Schedule performace de CV Cost varace SV Schedule varace 8. Match the term to ts equato defto CPI SPI CV SV BCWP ACWP BCWP BCWS BCWP / BCWS BCWP / ACWP CPI BCWP / ACWP SPI BCWP / BCWS CV BCWP ACWP SV BCWP BCWS 2 3/3/05

5 9. Whch of the followg geerate: Maufacturg labor Raw materals Materal hadlg Lghtg Face departmet Persoel departmet Geerate our ow eamples Provde our ratoale f ou dsagree wth the suggested aswers Drect costs? Idrect costs? G&A costs? 0. Whch of the followg geerate: Raw materals Egeerg drawgs Cofgurato maagemet Software developmet Geerate our ow eamples Provde our ratoale f ou dsagree wth the suggested aswers Recurrg costs? Norecurrg costs?. Whch of the followg geerate: Isurace Raw materals Ret Maufacturg labor Provde our ratoale f ou dsagree wth the suggested aswers Fed costs? Varable costs? 3 3/3/05

6 2. If the cost of the frst ut s 00 hours ad we observe a 90% cumulatve average learg slope, what s the average ut cost of two uts; what s the total cost of two uts; what s the cost of the secod ut? 90; 80; If the cost of the frst ut s 00 hours ad we observe a 90% cumulatve average learg slope, what s the average ut cost of four uts; what s the total cost of four uts; what s the average ut cost of three uts? what s the total cost of three uts? what s the cost of the fourth ut? what s the cost of the thrd ut? 8; 324; 84.62; ; 70.4; If the total cost of four uts s 400 hours ad we observe a 90% cumulatve average learg slope, what s the average cost of 8 uts? what s the cost of the frst ut? 90; If the cost of the frst ut s 00 hours, the cost of four uts s 256, ad we observe cumulatve average learg theor, what s the learg slope? 80% 6. Usg ut learg theor, estmate the cost hours of the 48th ut f the cost of the 2th ut s 6400 hours ad the learg curve slope s 75%. Roud to the earest hour If the cost of the fourth ut s 00 hours, what s a appromate cost of the thrteth ut do t use a calculator f we assume a 90% learg slope uder ut learg theor? Calculate the aswer for 32 uts, whch comprsg three doublgs of the base quatt of 4, eldg: The eact aswer s K 73.62, where K log(30/4)/log(2) or 00 (30/4) k 73.62, where klog(0.90)/log(2) 8. A compa epereced a 5000-hour frst ut cost but epereced a 2200-hour cost for the 6th ut. O what ut theor learg slope dd the compa operate, to the earest %? 8% (learg slope percet/00) 4 ; solve for the learg slope b takg the fourth root of 2200/5000; 9. A vestmet strumet ears 7.5% smple terest for 0 ears o a $00,000 prcpal. How much terest does the strumet ear durg ts lfe to the earest dollar? $75, A vestmet strumet ears 7.5% terest compouded auall for 0 ears o a $00,000 prcpal. How much terest does the strumet ear durg ts lfe to the earest dollar? $06,03 4 3/3/05

7 2. A vestmet strumet ears 7.5% compouded mothl for 0 ears o a $00,000 prcpal. How much terest does the strumet ear durg ts lfe to the earest dollar? $, You are to prepare a bd for producg 00 brackets. The brackets are made o a puch press ad scree prted wth a part umber. Scree prtg s doe oe batch of 00 brackets; the brackets are puch pressed batches of 75. Puch press set-up tme s 2 hours per set-up; ru tme s 0.0 hours per pece. Scree prt set-up s 4 hours per set-up ad 0.05 hours per prt. Materal cost s 50 cets per pece. Drect labor rate s $0 per hour ad overhead s 50% of drect labor. G&A s 20% of total materal, labor ad overhead cost. A 5% proft rate s epected. To the earest dollar, what s our bd prce for the 00 brackets? Assume o learg or attrto occurs ether process. $ A suppler uses a 0% proft marg. The total estmated prce to the customer, cludg proft, s $2,345. What s the proft, rouded to the earest dollar? $ A suppler epects a $2,000 proft. The total bd prce to the customer s $50,890, cludg the proft. What s the proft percetage, to oe decmal place? 30.9% 25. The frm had a fed cost of $5.67 ad a varable cost of $2.34 per ut. What s the mmum umber of uts the frm would have to sell to at least break eve at a $2.49 per ut sellg prce? The followg table documets the umber of a frm s emploees workg at specfed hourl labor rates. For eample, 50 emploees work at $8.50 per hour. Hourl rate ($) Number of emploees at ths rate What s the frm s mea hourl rate to the earest cet? the frm s meda hourl rate? the frm s modal hourl rate (.e., the mode of the labor rate frequec dstrbuto)? the frm s most lkel hourl rate? $2.38, $0.20, $5.00, $ Epla the mechacs of the straght le deprecato method ad of the declg balace deprecato method. 5 3/3/05

8 28. The followg table documets the umber of a frm s emploees workg at specfed hourl labor rates. For eample, 50 emploees work at $8.50 per hour. Hourl rate ($) Calculate composte hourl labor rate for the frm. $2.38 Average hours worked per week Number of emploees at ths rate Read the frst row of the followg table as follows: Labor code A emploees collectvel work 33 hours the process of producg oe ut of a specfed tem. The 987 hourl labor rate for labor code A was $2.00. Iflato adjustmets for ths categor crease the labor rate b 4% 988, 5% 989, ad 4% 990. Labor Code Hours Spet 987 Hourl Labor Rate Aual Iflato Rate (%) A 55 $ B 29 $ C 0 $ D 35 $ Calculate a composte 990 flato rate for the labor to producg oe ut of the specfed tem. Epress our aswer percet uts rouded to two decmal places. Calculate the composte 987 hourl labor rate; the meda 987 labor rate; the modal 987 labor rate (mode of the labor rate frequec dstrbuto); the overall escalato rate for labor categor C; 2.8%, 2.28, 2.00, 2.00, 2.5% 30. Calculate log 2 (00) to two decmal places. What does the aswer mea? log 2 (00) log(00)/log(2) 6.64; 2 log 2 (00) Cotrast drect costs wth drect costs.? 32. Cotrast recurrg costs wth orecurrg costs. 33. Cotrast fed costs wth varable costs wth sem varable costs. 6 3/3/05

9 34. Epla what we mea b a 90/0 share rato cetve fee cotracts. 35. Suppose that a ucerta quatt e.g., cost has oe of the followg probablt dstrbutos: ormal, logormal, uform, tragular, beta. For whch of the probablt dstrbutos: Whch of these have dest fuctos that must be smmetrc shape? Whch ca have oe that s smmetrc? Whch allow that deftel large values of have some probablt of occurrg? Whch requre that values of greater tha a specfed upper boud have zero probablt of occurrg? 36. If 0.5 for all values of what s the Pearso correlato of wth? Epla what we mea b the varace of a ucerta quatt e..g., cost? 38. Epla what we mea b; the coeffcet of varato of a ucerta quatt. 39. Epla what we mea b the method of least squares lear regresso aalss. 40. What are the fal prce ad proft for a frm fed prce cotract f: the target cost s $00,000; the egotated prce (.e., cost plus fee) s $0,000; the target proft s $0,000; ad The fal cost s $97,000 The fal cost s $02,500 The fal cost s $3,000 Fal proft $3,000 Fal proft $7,500 Fal proft - $3000 Fal prce $0,000 Fal prce $0,000 Fal prce $0, Gve the followg data for a cost-plus-cetve-fee cotract, what s the fal prce ad proft: Target cost s $2,000,000 Target fee s $00,000 Uder target share rato s 90/0 Over target share rato s 80/20 Mamum fee (celg) s $240,000 Mmum fee (floor) s $60,000 Fal cost s $,800,000 Fal cost s $2,400,000 Fal fee $20,000 Fal fee $60,000 Fal prce $,920,000 Fal prce $2,460, /3/05