Exam 14: Business Analytics

SCENARIO 15-9 The manufacturer of canned food constructed control charts and analyzed several quality characteristics.One characteristic of interest is the weight of the filled cans.The lower specification limit for weight is 2.95 pounds.The table below provides the range and mean of the weights of five cans tested every fifteen minutes during a day's production. Number XBar Range Number XBar Range 1 3.05072 0.0215 16 3.04646 0.073 2 3.01228 0.087 17 3.03868 0.0696 3 3.03558 0.0851 18 3.03338 0.0329 4 3.01014 0.0674 19 3.03322 0.0455 5 3.00858 0.0983 20 3.05078 0.0215 6 3.02704 0.0527 21 3.04808 0.0396 7 3.04268 0.0508 22 3.05348 0.0581 8 3.01052 0.0791 23 3.05516 0.0682 9 3.03464 0.0663 24 3.03426 0.0325 10 3.02034 0.0538 25 3.0516 0.0641 11 3.03764 0.0584 26 3.05562 0.0809 12 3.0409 0.0434 27 3.04402 0.0374 13 3.0519 0.0762 28 3.06458 0.0284 14 3.03994 0.0833 29 3.0544 0.0738 15 3.03788 0.0601 -Referring to SCENARIO 15-9, estimate the percentage of the cans whose weight is inside the specification limit.

SCENARIO 14-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars) based on data collected in different cities on the expenditure (at $25, $30, $35, $40, $45, $50, $55, $60, $65 or $70 thousand) spent on TV advertising and the number of times (10, 15, 20, 25, 30 or 35) a day the advertisement appear on TV. -Referring to SCENARIO 14-4, the first split occurs at 25 TV appearances a day of the advertisement.

In the United States, the control limits on a control chart are placed so that they are3 standard deviations above and below a central line.

The LogWorth statistic is a measure of the probability that can be attributed to the response that has occurred.

SCENARIO 14-6 The neural network output below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars) based on data collected in different cities on the expenditure (at $25, $30, $35, $40, $45, $50, $55, $60 $65 or $70 thousands) spent on TV advertising and the number of times (10, 15, 20, 25, 30 or 35) a day the advertisement appear on TV. -Referring to SCENARIO 14-6, what is the r-square of model for the validating data?

SCENARIO 14-3 is a measure of the probability that can The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch ("Yes" or "No") into its bundled program offering based on the price ($30, $40, $50, $60) and whether the customer spends more than 5 hours a day watching TV ("Yes" or "No") using the data set of 100 customers collected from a survey. -Referring to SCENARIO 14-3, the highest probability of switching is predicted to occur among customers who do not watch more than 5 hours of TV a day and are offered the bundled price of lower than $50.

Which of the following is NOT among the predictive analytics methods covered in the book?

SCENARIO 15-8 Recently, a university switched to a new type of computer-based registration.The registrar is concerned with the amount of time (hours) students are spending on the computer registering under the new system.She decides to randomly select 8 students on each of the 12 days of the registration and determine the time each spends on the computer registering.The range, mean, and standard deviation of the times required to register are in the table that follows. 1 10 5.250 3.4949 2 31 15.250 10.3060 3 13 20.375 4.9262 4 21 22.875 8.3911 5 35 8.500 11.3767 6 18 7.875 6.9372 7 25 11.250 8.5815 8 30 7.875 9.5235 9 17 10.250 6.3640 10 22 9.500 7.8740 11 27 7.875 8.7086 12 26 12.875 9.3723 -Referring to SCENARIO 15-8, construct an R chart for the time required to register.

SCENARIO 14-2 The treemap below shows the amounts (size) measured in billions of US dollars and percentage changes from prior year (color) of business-to-consumer ecommerce sales last year for North America, Asia Pacific, Western Europe, Central & Eastern Europe, Latin America, and Middle East & Africa. -Referring to SCENARIO 14-2, which region has the fastest growth in business-to-consumer ecommerce sales last year?

In a classification tree, the dependent variable is a categorical variable.

SCENARIO 14-3 is a measure of the probability that can The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch ("Yes" or "No") into its bundled program offering based on the price ($30, $40, $50, $60) and whether the customer spends more than 5 hours a day watching TV ("Yes" or "No") using the data set of 100 customers collected from a survey. -Referring to SCENARIO 14-3, the highest probability of switching is predicted to occur among customers who watch more than 5 hours of TV a day and are offered the bundled price of between $30 and $40.

SCENARIO 14-2 The treemap below shows the amounts (size) measured in billions of US dollars and percentage changes from prior year (color) of business-to-consumer ecommerce sales last year for North America, Asia Pacific, Western Europe, Central & Eastern Europe, Latin America, and Middle East & Africa. -Referring to SCENARIO 14-2, the Middle East & Africa region has the slowest growth in business-to-consumer ecommerce sales last year.

SCENARIO 15-3 A quality control analyst for a light bulb manufacturer is concerned that the time it takes to produce a batch of light bulbs is too erratic.Accordingly, the analyst randomly surveys 10 production periods each day for 14 days and records the sample mean and range for each day. 1 58.5 5.1 2 47.6 7.8 3 64.3 6.1 4 60.6 5.7 5 63.7 6.2 6 57.5 6.0 7 55.0 5.4 8 54.9 6.1 9 55.0 5.9 10 62.7 5.0 11 61.9 7.1 12 60.0 6.5 13 58.3 5.9 14 52.0 5.2 -Referring to SCENARIO 15-3, suppose the analyst constructs an R chart to see if the variability in production times is in-control.What is the lower control limit for this R chart?

Maintaining the gains that have been made with a revised process in the long term by avoiding potential problems that can occur when a process is changed involves which part of the DMAIC process?

SCENARIO 15-4 A factory supervisor is concerned that the time it takes workers to complete an important production task (measured in seconds) is too erratic and adversely affects expected profits.The supervisor proceeds by randomly sampling 5 individuals per hour for a period of 10 hours.The sample mean and range for each hour are listed below. 1 18.4 25 2 16.9 27 3 23.0 30 4 21.2 23 5 21.0 24 6 24.0 25 7 19.3 12 8 15.8 14 9 20.0 13 10 23.0 11 She also decides that lower and upper specification limit for the critical-to-quality variable should be 10 and 30 seconds, respectively. -Referring to SCENARIO 15-4, what is the value of the CPL index?

SCENARIO 14-1 The table below contains the sparklines for the rates of return (in percentage) for three different stocks from 2007 to 2013. -Referring to SCENARIO 14-1, the pattern of the rates of return of stock and stock are similar.

SCENARIO 14-3 is a measure of the probability that can The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch ("Yes" or "No") into its bundled program offering based on the price ($30, $40, $50, $60) and whether the customer spends more than 5 hours a day watching TV ("Yes" or "No") using the data set of 100 customers collected from a survey. -Referring to SCENARIO 14-3, the highest probability of switching is predicted to occur among customers who watch more than 5 hours of TV a day and are offered the bundled price of higher than $40.

SCENARIO 14-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars) based on data collected in different cities on the expenditure (at $25, $30, $35, $40, $45, $50, $55, $60, $65 or $70 thousand) spent on TV advertising and the number of times (10, 15, 20, 25, 30 or 35) a day the advertisement appear on TV. -Referring to SCENARIO 14-4, how many cities were used in generating the regression tree?

Poke-Yoke devices establish ways to clean and maintain the necessary housekeeping aspects of a work environment.

Quick Changeover Techniques is among the tools of Lean Six Sigma.