Financial Accounting > QUESTIONS & ANSWERS > Defense Acquisition University BCF130 Fundamentals of Cost analysis Module 8-9 Exam (All)

BCF130 Fundamentals of Cost analysis Module 8-9 Exam 1) As compared to analogy, parametrics can be more objective, relying on the preponderance of the data to support a conclusion rather than rely... ing extensively on the subjectivity of an expert to make comparisons. [Define the characteristics of a good parametric estimate.] True False 2) The Operation and Support Phase of a program is where the parametric estimation technique is most commonly performed. [Recognize when the use of the parametric estimation technique is appropriate.] False True 3) Which of the following are implicit assumptions associated with the use of factors? [Apply the procedures and techniques involved in the development and application of cost factors.] There is no significant element of the cost or pricing being estimated that is not related to the independent variable. The relationship is nonlinear The dependent variable fully describes the cost being estimated None of these are correct 4) You are estimating the fuel consumption (gallons per mile) for intermediate armored vehicles based on the horsepower of the vehicle. The vehicle for which you are estimating has 4.77 hundred horsepower. Given the following equation, select the correct response from each pair. Fuel Consumption = - 0.0494 + 0.22 (Horsepower in hundreds) [Interpret and apply a linear equation.] The estimated fuel consumption for your vehicle is 1.00 gallons per mile The dependent variable is Horsepower BCF130 Fundamentals of Cost analysis The y-intercept is - 0.0494 The estimated fuel consumption for your vehicle is 1.10 gallons per mile The y-intercept is 0.22 The dependent variable is Fuel Consumption 5) Given a one independent variable linear equation that states cost in $K, and given the following information, calculate the standard error of the estimate and determine its meaning. [Image Description: n =12, Summation of (Y-Yhat)2 = 16250, Ybar=314.375] [Calculate and interpret linear regression statistics (Standard Error of the Estimate, Coefficient of Variation, and Coefficient of Determination).] [Remediation Accessed :N] If we used this equation, we could typically expect to be off by ± $40.31K. If we used this equation, we could typically expect to be off by ± $38.44K. If we used this equation, we could typically expect to be off by ± 40.31%. If we used this equation, we could typically expect to be off by ± 38.44%. 6) The transformation of data, using a logarithmic transformation, tends to straighten out the data set such that it starts to behave like a linear relationship. [Recognize how to develop and use nonlinear equations.] True False 7) You have been asked to determine the relative error of the regression. The Sum of Standard Error of the Estimate (SEE) is .050 fit space and the average cost is 3.65, what is the Coefficient of Variation (CV) and what does that mean? [Calculate and interpret nonlinear regression statistics (Standard Error of the Estimate, Coefficient of Variation, and Coefficient of Determination).] BCF130 Fundamentals of Cost analysis The CV is 0.014 and we can expect to be off by 1.4%. The CV is 0.986 and we can expect to be off by 98.6%. The CV is 0.14 and we can expect to be off by 98.6%. The CV is 0.986 and we can expect to be off by 1.4%. 8) You have calculated the following nonlinear and linear regressions. Given that the Standard Error of the Estimate (SEE) of the Nonlinear equation is 20.54 and the linear equation SEE is 16.47, you would select the: [Compare linear and nonlinear regression statistics to determine the best fit model.] Linear equation because it has a lower standard error than the nonlinear equation. Linear equation because it has a higher standard error than the nonlinear equation. Nonlinear equation because it has a lower standard error than the linear equation. Nonlinear equation because it has a higher standard error than the linear equation. 9) The general learning curve theory states that: [Recognize the factors and assumptions inherent to learning curve theory.] As the number of units produced doubles, the unit cost decreases in a predictable pattern. As the number of units produced doubles, the unit cost increases in a predictable pattern. As the number of units produced doubles, the lot cost increases in a predictable pattern. As the number of lots produced doubles, the unit cost decreases in a unpredictable pattern. 10) Given the following information, determine the equation for the unit formulation. (Round intermediate calculations to 4 decimal places) [Table Description: Table listing Unit Number (X) and Unit Cost ($Y). Unit 1 = $1200.00, Unit 2 = $975.00, Unit 3 =$863.48, Unit 4=$792.19] Unit Number (X) Unit Cost (Y) $ BCF130 Fundamentals of Cost analysis 1 1200.00 2 975.00 3 863.48 4 792.19 [Develop a unit learning curve equation from a data set.] Y = (1200)(X) -0.2996 Y = (1200)(X) 0.8125 Y = (1200)(X) 0.8667 Y = (1200)(X) -0.2065 11) The first unit required 10,000 hours to manufacture. The company expects to experience an 88% unit learning curve. Estimate the hours of the 19th unit. (Round intermediate calculations to 4 decimal places) [Use a unit learning curve equation to forecast recurring production costs.] 5,810 hours 5,641 hours 3,872 hours 4,857 hours [Show More]

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