MAT 510 MAT510 Final Exam Part 1 and 2 Answers (Strayer)

MAT 510 MAT510 Final Exam Part 1 and 2 Answers (Strayer)

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MAT 510 Final Exam 1 (Strayer)

  1. Problem solving activities typically include:
  2. Analysts have noticed that October tends to be a bad month in the collections department – our collections on past due accounts tend to be consistently lower in October. This issue should be considered:
  3. Processes are important because:
  4. The SIPOC model for a business helps everyone in the company see the business from an overall perspective by:
    I.          Keeping a focus on customer needs
    II.         Identifying inputs and outputs for each step of the process
    III.       Displaying cross-function activities in simple terms
    IV.       Helping maintain the big business picture
  5. We learned in Chapter 3 that the measurement process is always important and worthy of our attention. However, in Chapter 4 we found that measurement can be absolutely critical to solving the problem. For which of the case studies in Chapter 4 was measurement NOT discussed as a critical issue?
  6. A main purpose of a control chart is to:
  7. 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?
  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 the shape of the distribution?
  9. The histogram has which of the following limitations?
  10. The histogram below showing ages of credit card holders displays what type of distribution?
  11. The model residuals are examined to:
  12.  
    An Adjusted R-square value is a correlation coefficient that has been modified to account for:
  13.  
    Which of the following is NOT a reason for adjusted R-Square being low?
  14.  
    Process models are used to:
  15.  
    The best way to evaluate the validity of a statistical model is:
  16.  
    This technique is used to eliminate the effects of nuisance factors (e.g., machines, day of week, and season of year) from an experiment.
  17.  
    The basic reason for randomness of sampling in design of experiments is:
  18.  
    Given the plot below, what might you suspect about factors A and B?
  19. Which of the following purposes are served by replicating an experiment?
  20.  
    An aspect of good experimental strategy is to study the effects of the variables  
    (Xs) over a wide range. This strategy increases the chances that effects will be found because:
  21.  
    After running an ANOVA comparing the average years of experience between five different job classifications, we obtained a p value of .02. Which of the following would be a reasonable conclusion concerning the population in this case?
  22.  
    We ran a taste-test to see which soft drink employees in our company prefer. We had 100 employees, selected as randomly as possible, taste test two brands and determine which they preferred. Which of the following would be a reasonable statistical analysis to determine if there is a clear preference among our employees?
  23.  
    For which of the following scenarios am I most likely to utilize a Chi-squared test?
  24.  
    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?
  25.  

 

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?

 

  1. Understanding variation is important because variation:
  2. 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?
  3. The SIPOC model for a business helps everyone in the company see the business from an overall perspective by:
    I.          Keeping a focus on customer needs
    II.         Identifying inputs and outputs for each step of the process
    III.       Displaying cross-function activities in simple terms
    IV.       Helping maintain the big business picture
  4. Refer to Figure 3.21 and choose the correct statement for the measurements
  5. 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?
  6. A comparison between the Cp and Cpk for a process would find which of the following to be true?
  7. Based on the flow chart for selecting control charts discussed in Chapter 5, which type of chart would be most appropriate if I am charting the % waste in a factory each month? This value is calculated by taking the total waste in tons within the factory each month, and dividing by total output, also in tons.
  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?
  9. What does it mean if capability index Cp is less than 1?
  10. A process is said to be capable if:
  11. George Box tells us “all models are wrong but some are useful”. By this comment he means:
  12. Models based on subject matter fundamentals (theory) are generally better than statistical models for:
  13. Process models are used to:
  14. Which of the following is NOT a reason for adjusted R-Square being low?
  15. Which of the following is NOT a measure of model adequacy?
  16. Which of the following purposes are served by replicating an experiment? 
  17. The following table shows data on the effect of Machine Pressure on product hardness.   What statistical test should be used to test the effect of pressure on average hardness?
       
  18. A 32 experiment means that we are experimenting with:
  19. In every experiment there is experimental error.  Which of the following statements is true?
  20. This technique is used to eliminate the effects of nuisance factors (e.g., machines, day of week, and season of year) from an experiment.
  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?
  22. 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?
  23. 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.
  24. Which of the following could be considered a prediction interval?
  25. We conducted a t test to compare the average cycle time to approve two different types of loans, auto and personal. The p-value for the t test was -.03, where the hypotheses were:
     
    H0: Auto  -  Per. =  0
    H0: Auto  -  Per.  0
     
    Which of the following would be plausible values for the endpoints of a 95% confidence interval for (Auto
    - Per.)?

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