MAT 510 Week 11 Final Exam

 MAT 510 Week 11 Final Exam 

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Question 1: The principal drivers of the rapid change in the global economy are:

Question 2: What is tool that can be used to detect the structure variation?

Question 3: Improving the quality of process measurements is:

Question 4: Sub-optimization occurs when:

Question 5: Which type of variation was critical to resolving the realized revenue case study?

Question 6: In evaluating data on our process outputs, four characteristics we might investigate are: central tendency, variation, shape of distribution, and stability. Which of the following tools would be most helpful to determine the shape of the distribution?

Question 7: A sample of 50 invoices are inspected each shift for errors, and classified as either “good”, i.e., without error, or “bad”, having some problem. If we plot our bad invoices each shift on a control chart, which chart should we use?

Question 8: In evaluating data on our process outputs, four characteristics we might investigate are: central tendency, variation, shape of distribution, and stability. Which of the following tools would be most helpful to determine stability of the process?

Question 9: Non-random and unpredictable patterns on a control chart indicate:

Question 10: The histogram has which of the following limitations?

Question 11: Tips for building useful models include:

Question 12: An Adjusted R-square value is a correlation coefficient that has been modified to account for:

Question 13: Results of regression analysis are often abused in the following ways:

Question 14: George Box tells us “all models are wrong but some are useful”. By this comment he means:

Question 15: Which of the following is NOT a measure of model adequacy?

Question 16: In every experiment there is experimental error.  Which of the following statements is true?

Question 17: Which of the following is the best description of randomization?

Question 18: The basic reason for randomness of sampling in design of experiments is:

Question 19: A 32 experiment means that we are experimenting with:

Question 20: Given the plot below, what might you suspect about factors A and B?

Question 21: What would happen (other things equal) to a confidence interval if you calculated a 99 percent confidence interval rather than a 95 percent confidence interval?

Question 22: We have conducted an election poll of 600 likely voters, collected as randomly as possible. The 95% confidence interval (CI) for those planning to vote for Senator Smith is about 55% +/- 4%. How many additional likely voters would we need to poll to reduce the CI width to +/- 2%? Hint – you do not need to calculate the exact value to answer this question.

Question 23: I have made a mistake in copying data into my computer to perform a large regression model with 20 independent variables. Basically, I ended up with random data in each of the columns. However, I accidentally ran the regression anyway. Making reasonable assumptions, which of the following outcomes is most likely?

Question 24: For which of the following scenarios am I most likely to utilize a Chi-squared test?

Question 25: I have calculated an interval to document the uncertainty in my estimate of the long-term standard deviation I will experience in time to pay invoices in my business going forward. Baaed on this information, this should be considered what type of interval?

Bonus Questions

Question 26: The SIPOC model for a business helps everyone in the company see the business from an overall perspective by:

Keeping a focus on customer needs

Identifying inputs and outputs for each step of the process

III.       Displaying cross-function activities in simple terms

Helping maintain the big business picture

Question 27: The fact that processes tend to be dynamic, rather than static, is a key principle of statistical thinking. Which of the following is a natural consequence of this fact?

Question 28: Suppose the Process Improvement Framework were used to attack a problem where the process in question was inherently unstable. Which of the following would be a likely result of this effort?

Question 29: A manufacturing process has been experiencing problems.  The operators charting the process data have identified the cause to be due to an unanticipated change in incoming raw materials.  This problem should be considered:

Question 30: Figure 2.16 shows a chart of the Dow Jones Industrial Average from 1990 through 2011. This plot reveals some obvious change points, such as the 2008 financial collapse, and some unexplainable short-term variation. Assuming that these are the only sources of variation in this plot, what source of variation is NOT visible in the plot?

Question 31: In the advertising case study, the unexpected “V” shaped pattern in the plot of advertising dollars versus sales indicated what?