Strayer MAT510 2020 January Week 5 Midterm Exam Latest

MAT510 Business Statistics

Week 5 Midterm Exam

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

Question 2W. E. Deming commented “You don’t have to make these changes, survival is not mandatory.”  His message is:

Question 3Understanding variation is important because variation:

Question 4A SIPOC map is:

Question 5Which of the following are principles of Statistical Thinking?

Question 6Why is it so difficult for a person or an organization to improve?

Question 7Improvement is needed for an organization to survive because:

Question 8Lean manufacturing, Six Sigma, Total Quality Management are some of the new systems for managing and improving an organization. What is a common theme running through these approaches?

Question 9Process improvement activities typically include:

Question 10Problem solving activities typically include:

Question 11The standard deviation is:

Question 12Process average or mean:

Question 13A 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 14In the advertising case study, the unexpected “V” shaped pattern in the plot of advertising dollars versus sales indicated what?

Question 15In the soccer case study, Coach Hau developed a flowchart of the steps one goes through to properly “head” the ball, and then developed unique drills to develop the team’s skills in each of these steps. This approach is an example of what statistical thinking principle?

Question 16Analysts 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:

Question 17Figure 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 18What is tool that can be used to detect the structure variation?

Question 19The Statistical Thinking Strategy illustrated in Figure 2.14 provides a graphic of the overall approach to driving improvement through statistical thinking. Which of the following is a key principle illustrated in this specific graph?

Question 20The Statistical Thinking Strategy has significant commonality with the scientific method. Which of the following statistical thinking principles is NOT generally associated with the scientific method?

Question 21Figure 2.15 displays a model of the statistics discipline, showing the relationship between statistical thinking, statistical engineering, and statistical methods and tools. Which of the following is a principle illustrated by this model?

Question 22The 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 23It is, unfortunately, common in business for managers to demand an explanation for variation that is, based on statistics, typical and expected variation, i.e., common cause variation. Alternatively, there may be obvious special causes in the data that may be shrugged off as “typical business fluctuations”. Which of the following statements about interpretation of variation are true?

Question 24In Figure 2.11, Coach Hau presented data showing where goals were scored on crosses. This produced unexpected results, in terms of where the goals came from, and helped his team determine an effective strategy on free kicks. This is an example of what principle of statistical thinking?

Question 25 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?