MAT 510 Week 11 Final Exam 2021 Comprehensive Q&A Top Rated

MAT 510 Week 11 Final Exam 2021 Comprehensive Q&A | The principal drivers of the rapid change in the global economy are: What is tool that can be used to detect the structure variation? Improving the quality of process measurements is: Sub-optimization occurs when: Which type of variation was critical to resolving the realized revenue case study? 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? 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? 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? Non-random and unpredictable patterns on a control chart indicate: The histogram has which of the following limitations? Tips for building useful models include: An Adjusted R-square value is a correlation coefficient that has been modified to account for: Results of regression analysis are often abused in the following ways: George Box tells us “all models are wrong but some are useful”. By this comment he means: Which of the following is NOT a measure of model adequacy? In every experiment there is experimental error. Which of the following statements is true? Which of the following is the best description of randomization? of sampling in design of experiments is: A 32 experiment means that we are experimenting with: Given the plot below, what might you suspect about factors A and B? 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? 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. Answer 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? For which of the following scenarios am I most likely to utilize a Chi-squared test? 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? 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: Box, Hunter, and Hunter are quoted in this chapter as stating: “Data have no meaning in themselves; they are meaningful only in relation to a conceptual model of the phenomenon studied.” This critical point is related to which of the following principles of statistical thinking? 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 Use of subject matter knowledge is a key aspect of the Statistical Thinking Strategy discussed in Chapter 2. For which of the following case studies in Chapter 4 was this principle NOT clearly applied? Which of the following are accurate statements about the relationship between the Process Improvement Framework (PIF) and the Problem Solving Framework (PSF)? 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? We learned in Chapter 2 that most processes are dynamic in nature, and therefore the time dimension is often a critical consideration in process improvement. For which of the case studies in Chapter 4 was plotting data over time NOT critical to success?