C207 Data-Driven Decision Making Pre-Test Self Assessment

A boxplot graph with a mean of 79, an upper quartile to 84 and a whisker up to 95, a lower quartile to 72 and a lower whisker to 48

Standard deviation is used to measure the spread of a data set from its average.

True

When both the dependent and independent variables rise, the relationship is said to be positive. If both variables fell, the relationship would be negative.

Caroline determines the likelihood of a false positive for the cancer treatment she invented based on previous results.

Which of the following is an example of statistics being applied to healthcare?

Transitive

Which of the following is not a technique a manager uses when forecasting?

independent and x

Jane works for a public health company. She is working on an anti-tobacco campaign and is interested in how smoking cigarettes affects a smoker's cholesterol. She could use the number of cigarettes smoked per day as her _____ variable and place it on the __-axis.

True

The closer the correlation is to one or negative one, the stronger the relationship between variables is.

Positive

We perform a regression analysis on a pair of variables and determine that there is a linear relationship. The regression line is determined to be y=12x−5 . What type of linear relationship exists between the independent variable, x, and the dependent variable, y?

an approach to uncover customer needs and expectations and to adjust work to meet those needs to the highest extent possible

What is quality management?

to gather information and test options on a small scale before implementing changes on a large scale

What is the PDCA cycle used for?

analysis of variance

When there are several distinct populations, __________ can be used to analyze the difference between the various populations with respect to its summary statistics.

a network diagram

Which "New" tool would best show scheduling problems?

R-squared shows negative correlation when closest to 0.

Which of the following does NOT describe R-squared?

Forecast likelihood of board of director decisions from previous voting habits.

Which of the following is NOT an application of statistics in business?

It is a long and expensive process.

Which of the following is a disadvantage of cluster analysis?

It helps to create consistent, predictable outcomes.

Why is it helpful for an organization to use a process approach in managing its quality activities?

True

A study where all parties do not know who is in the control group and who is in the treatment group is a triple-blind study. If the treatment allocator and data gatherer are the same person, this would be a double-blind study.

True

A test is Reliable if it is consistent and repeatable.

a general slope upward or downward over a long period of time.

A trend is...

True

A network diagram is a graphic representation of the schedule and would serve as a reference for any scheduling problems.

tree diagram that shows potential countermeasures or options for solving problems

A process decision program chart is a ________.

positive

A __________ linear relationship exists when the dependent variable increases as the independent variable increases.

sample

A small group from which you make an inference about an entire population is called a __________.

True

A classification model is just another way to say cluster or group. It is not possible to do any type of analysis without determining beforehand the variables that are being measured. Cluster analysis does measure the difference in the data points, but it is used to group those points. One does not arrange or change, the different points in a dataset.

discrete

A data point that can only take on whole values and has boundaries is called what?

outlier

A data point that is significantly distant from the observations in the dataset is called which of the following?

iterations, assumptions

A Monte Carlo simulation runs many __________ after _________ have been made about the probability of different outcomes.

True

A Monte Carlo simulation runs many iterations after assumptions have been made about the probability of different outcomes. Although calculations likely have to be taken when helping to determine the probabilities used for different outcomes, assumptions are necessary to run a simulation.

bar chart

A Pareto chart is a type of ________.

True

A SIPOC diagram ensures that you take a broad view of work instead of focusing only on internal work. It also considers the quality of the work and materials that suppliers provide. Finally, a SIPOC looks at how the outputs of the process are perceived and used by customers.

It helps you understand how process elements fit together.

A SIPOC diagram helps you manage quality in which of the following ways?

discrete

According to the 2000 census the average number of people in a family in the U.S. was 3.17. Since it isn't possible to have .17 of a person, you would use a __________ data point to describe the number of people in your family.

True

An outlier is an unusual data point and can seriously affect the results of your study. This doesn't necessarily mean that it should be ignored.

True

Asking 100 New Yorkers about their pizza preferences would most likely result in measurement bias. The same would occur if you were to ask the question of 100 Chicagoans.

continuous data

Assume you are measuring the various lengths of used pencils, and you collect the following data points (in inches): 1.37, 2.65, 2.78, 3.46, 3.91. What kind of data are these data points?

continuous data

Assume you are measuring the various returns on investment, over the past year, for four different stocks in your portfolio. You find the following values (each as a percent of your investment): 4.68, 5.65, 3.78, -0.46, 6.91. What kind of data are these data points?

True

Because you cannot control for all variables, you would not be able to use an experimental study or blind studies.

Small Sample Size

Bethany notices that her husband is wearing a blue sweater on Tuesday. She cannot remember what he has worn previous Tuesdays. The next Tuesday she notices he is wearing another blue sweater. She concludes that if it is Tuesday, he will wear a blue sweater having data from her experiment to support this. What is the flaw with this experiment?

variable costs

Break-Even Point graph which charts Sales units on the x-axis against Revenue on the y-axis. The revenue rises above the total costs at 2500 sales units. The total costs line and the lower fixed costs line intersect on the y-axis at 2,380 dollars. The total costs rises with each sales unit while the fixed costs remains at 2,380 dollars. Given the break-even graph above, what does the area between the grey line (fixed costs) and the orange line (total costs) represent?

Catherine should wait to sell ticket; the difference will be $25.

Catherine is trying to sell a ticket to the Super Bowl. She is determining whether or not she should sell a ticket now or wait until just before the game and try and sell it then. Currently, someone is offering $350 for the ticket. From research of past prices, she knows that the tickets immediately before the Super Bowl are sold for about $500. She determines that there is a 75 percent chance she will be able to sell the ticket immediately before the Super Bowl. Based on expected payoffs from risk decision making, what should she do? How much is the difference if she chooses to sell now?

data management

Cleaning and organizing collected raw data refers to which of the following?

data management

Cleaning and organizing data that has been collected is known as __________.

True

Cleaning and organizing raw data is known as data management. The result is sometimes a rectangular data file.

determines groups of terms or values based on different classification models.

Cluster analysis:

breakeven point

Company A sells its 12,000th unit of the year. With that sale, the company's revenue and cost curves meet. What is this point called?

17, 17, 20.11

Determine the Mode, Median, Mean (in that order) from the following data set. 4, 7, 11, 12, 14, 14, 15, 17, 17, 17, 18, 20, 23, 24, 26, 29, 35, 39, 40

Operationalization

Doctor Andrews has been trying to measure the likelihood of heart attack risk. Doctor Andrews decides to monitor hair length in people to determine those at high risk of heart attack. What is the flaw in this experiment?

-1.43

Elizabeth got a 75 on her performance review. The average was 80, but the standard deviation was 3.5. Determine the z-score for her performance review.

ordinal data

First, second, third, fourth... What kind of data does this represent?

100

From the following picture, what is the size of the approximate production range of sweatshirts where American Steagle has the lowest cost? The cost of Sweatshirt Production, x-axis goes from 200 to 400 sweatshirts produced and the cost ranging from 1,500 to 4,500 cost in dollars. Three lines represent New Navy, American Steagle, and Alertcrombie. Alertcrombie start with the highest cost at 200 sweatshirts, American Steagle is lower but still above New Navy at 200. New Navy crosses American Steagle at 250 sweatshirts and Alertcrombie intersects with New Navy at 300 sweatshirts, as New Navy rises above Alertcrombie. And Alertcrombie crosses American Steagle at 350, American Steagle is more expensive after 350.

Even watching less than 2 hours of TV a night has a negative effect on test scores.

From the following scatter plot, what can be inferred? A scatterplot showing Average Test Scores on the x-axis plotted against Amount of Time Watching TV on the y-axis. The points are loosely grouped high and to the left, then around 120 minutes, they form almost a horizontal line around 73.

0.4

From the previous problem, there is an 80 percent chance of snow. If it snows, there is a 10 percent chance of Todd walking to the store. If it doesn't snow, there is a 60 percent chance of Todd walking to the store. For walking in the snow, P(snow∩walk)=0.08 . For walking with no snow, P(no snow∩walk) =answer to Question 7. The P(walk)=0.08+P(no snow∩walk) . If Todd walks to the store, what is the chance that it was snowing?

The results would be more accurate.

How would a greater number of samples and a fewer number of populations affect an ANOVA analysis?

ratio

If a dataset is presented on a scale of hours per week, which scale of measurement is being used?

reliable

If a measure is consistent and repeatable it is said to be __________.

Polynomial Regression

If there is a relationship between variables, but the relationship is not linear, what possible challenge with regression could it be?

triple-blind

If you designed a drug trial in which the subject, the data gatherer, and the treatment allocator did not know who was in the control group, then you created a __________ study.

simulation

If you want to test a change to a process or system before implementing it in real time, which tool might you use to emulate it?

It is neither reliable nor valid.

If you were to take your temperature 10 times in a row using the same thermometer and get the following results (in degrees Fahrenheit), what could you assume about the thermometer? 34, 99, 108, 45, 66, 21, 78, 53, 94, 102

reliable

If you were to take your temperature 10 times in a row using the same thermometer and got the same result every time, you could say that the thermometer is __________.

68.3

In a normal distribution, approximately what percentage of data points in a dataset will be within one standard deviation of the mean?

multiplied by

In a prioritization matrix, the weighting factor is ________the option ranking to get the weighted score for each cell in the matrix.

True

In a set of continuous data, a point can lay along any point in a range of data.

16

Mary is determining the likelihood that she will lose money on an investment. There is an expected 10 percent gain in a normally distributed dataset, with a standard deviation of 10 percent. The likelihood she'll lose money is _______ percent.

True

Missing data can severely compromise the results of your study.

Association vs. Causation

Mr. Wonka notices that the last twenty times he invented a new chocolate candy, his major competitors, Count Chocula, and the Easter Bunny, have big sales in late October. Mr. Wonka feels directly responsible for the profit of his competitors. What is the flaw in this experiment?

missing data

Of the following, which is considered the most serious kind of data error?

True

Ordinal numbers place subjects in order according to some quality. So, if you came in first, second, or third in a race, this would be an example of ordinal data.

True

Prescriptive analytics determines a course of action

statistics

Quantitative analysis is another name for what?

multiple linear regression

Question 1 The relationship between several independent variables and one dependent variable is shown using __________.

ordinal

Rankings are an example of which kind of data?

Alercrombie

Refer to the graph below. If these linear trends of sweatshirt production continue at their current rate, which company would have the lowest cost for 500 sweatshirts? The cost of Sweatshirt Production, x-axis goes from 200 to 400 sweatshirts produced and the cost ranging from 1,500 to 4,500 cost in dollars. Three lines represent New Navy, American Steagle, and Alercrombie. Alercrombie start with the highest cost at 200 sweatshirts, American Steagle is lower but still above New Navy at 200. New Navy crosses American Steagle at 250 sweatshirts and Alercrombie intersects with New Navy at 300 sweatshirts, as New Navy rises above Alercrombie. And Alercrombie crosses American Steagle at 350, American Steagle is more expensive after 350.

True

Regression analysis determines the relationship between two data sets and can be useful in predicting or forecasting results for a data set based on the other data set.

Rose's Jewelry was helped by the leadup to Christmas

Rose's Jewelry's biggest month for sales is December. Rose is considering shutting down her jewelry store if this December's daily sales numbers don't average 15 thousand dollars. Rose determines the following run and control chart on December 26th, what conclusion can she make? A line graph showing sales from December 10 to December 25. 7 days are below the necessary December average, and 8 points are above the necessary December average. The December average line is slightly above the necessary December average line.

takes information from one data set and can predict information for another data set.

Select the choice that is true. Regression analysis:

True

Standard deviation is used to measure the spread of a data set from its average.

the dispersion from the average for the data set.

Standard deviation measures_______________

inferences

Statistical analysis can be used to make __________ about entire populations using samples.

metrics

Statistical process control relies on _________ to analyze results.

True

Statistics uses mathematical procedures to describe data. Analytics makes use of statistical analysis.

9%

Superman has forgotten how to fly. He decides that he will only remember how to fly if he's falling, but the distance from his desk to the floor is not far enough for the urgency of muscle memory to kick in. The following is a relative cumulative frequency graph for the likelihood that Superman will remember how to fly before he hits the ground depending on the building's height. The higher the building, the more time he has to remember. What is the likelihood that Superman will not remember to fly if he falls off the tallest building in Kansas (height - 320 feet) but will remember if he falls off the Tribune Tower in Chicago (height - 463 feet)? A graph that has Building Height feet on the x-axis and Percentage chance Superman will remember from 0 percent to 100 percent. A smooth line graph that is gradually rising from (0,0) to (1500, 100)

predictive

Suppose you employed analytics to determine which sales territories had shown the most profitable growth in the last four quarters and would most likely do so again in the future. You would be using which kind of analytics?

observational study

Suppose you wanted to determine the ratio of cyclists to drivers in cities with higher versus lower air quality. What kind of study might you use?

solving the problem

Suppose you were making a simplified representation of a complex problem in order to solve it, which stage of the Three Stage Model would you be in?

prescriptive

Suppose you were to use analytics in an experiment to determine how many salespeople to assign to particular sales territories based on the makeup and performance of the territories in the results of the experiment. You would be using which kind of analytics?

True

The greater number of data points in a data set will more greatly allow for conclusions to be made in an ANOVA output as there is more information about those populations. Also, the fewer the number of populations, the fewer the degrees of freedom.

True

The modeling step is part of the solving the problem stage.

0.12

There is an 80 percent chance of snow. If it snows there is a 10 percent chance of Todd walking to the store. If it doesn't snow there is a 60 percent chance of Todd walking to the store. What is the likelihood that it will not snow and Todd will walk to the store?

statistics

The science of using mathematical procedures to describe data is __________.

-0.99

The strongest relationship between variables is represented by which of the following numbers?

communicating results

The third stage of Davenport and Kim's Three-Stage Model of quantitative decision making is which of the following?

analytics

The use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and add value is called ________.

0.95

There is a 90 percent chance that a package will arrive within three days of when it was shipped. Also, there is a 75 percent chance that it will get wet. There is a 70 percent chance that it will get wet and will be delivered within three days. What is the likelihood that at least one of these events occurs?

nominal data

This kind of data is also called categorical data.

True

To show the relationship between one dependent variable and several independent variables, you would use multiple linear regression.

Project 2

Tom is determining whether or not to pursue Project 1, Project 2, or no project for his company. Project 1 could gain $40,000 dollars for his firm if it works, but it could also lose $10,000 if it does not work. Project 2 will work and will gain $20,000. If the company doesn't undertake any projects, it does not gain or lose anything. Which option is Tom's best choice based on the "minimax" procedure (least opportunity loss)?

True

Using past information to make decisions about the future is called predictive analytics.

You would encounter measurement bias.

You survey 100 New Yorkers about their preference for New York-style or Chicago-style pizza. What would be wrong with this?

True

You would use a Discrete number such as one, three, or five to describe the number of people in your family.

both the products you make and the processes you use to make them

Your quality management processes should monitor ________.