From Module Quizzes Flashcards
What type of data error that occurs in measurement is constant within a data set and is sometimes caused by faulty equipment or bias?
Systematic
Government trying to determine national origins of immigrant population. Survey in English.. What type of error might be present in data?
OMISSION
What level measurement is type of cars produced in Ford factory?
Nominal
What level measurement is 10 best cities in the world?
Ordinal
A Pizza Chain wishes to improve sales by focusing on product quality, reducing delivery time and improving productivity. Which tool would best meet the Chain’s objective of quantifying their improvement in product quality only?
KPI
A retailer wants to evaluate the strength of its customer relations to see how the company compares to others in the industry. Which analysis technique could help the retailer with this decision?
Net Promoter Score
Craftsman builds 2 kinds of birdhouses. Knows amount Labor and the units of lumber needed for each birdhouse. 60 hours of labor and 120 units lumber available.
Which technique to use for minimizing cost?
Liner Programming
Manufacturer wants to forecast demand for piece of equipment. Review of past 12 months of sales indicates that sales are increasing.
Which time-series pattern does that likely exhibit?
Trend
Dealership wants to forecast car sales based on price discounts and TV ads.
Which forecasting technique should they use?
Multiple Regression Analysis
Refers to situation which 2 or more explanatory or independent variables in a multiple regression are Highly Linearly related.
Multicollinearity
Entrepreneur wants to predict yearly revenue for Potential Sub Restaurant sites. Regression analysis performed based on area Population and Business Rating.
What statistic indicates the Strength of the relationship of Population and Rating to Revenue?
R-square
Which type of quality activity would assess capabilities and recommend process design changes as preventive action?
Quality assurance activity
Untrue statement about the 7 quality tools..
Tools are based on statistics.
An online Active Wear retailer wants to use their last year’s sales to evaluate consumer trends before ordering merchandise for fall season. What process should they use to discover consumer purchasing patterns?
Data Mining
City Line Transport wants to look at its fuel costs for 2013, 2014 and 2015 against the start-up base period of 2012. What analytic method should the company use?
Simple Index
