Exam 14: Business Analytics

Poke-Yoke devices establish ways to eliminate unnecessary housekeeping aspects of a work environment.

Successful use of a regression tree requires a precise description of the parameters of the tree.

Which of the following explores business activities that have occurred or are occurring in the present moment?

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, based on the R chart, it appears that the process is out of control.

Successful implementation of a classification tree requires rules for splitting the data at each node based on an independent variable.

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, suppose the supervisor constructs an R chart to see if the variability in collection times is in-control.This R chart is characterized by which of the following?

SCENARIO 14-7 The output below shows the results of cluster analysis on the different regions of the world (North America, Asia Pacific, Western Europe, Central & Eastern Europe, Latin America, and Middle East & Africa) based on the amounts (in billions of US dollars) and the percentage changes from prior year of business-to-consumer ecommerce sales last year. -Referring to SCENARIO 14-7, what are the first group of countries that cluster together?

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.The R chart is characterized by which of the following?

Neural networks require only training data but not validating data.

The control limits are based on the standard deviation of the process.

SCENARIO 15-6 The maker of a packaged candy wants to evaluate the quality of her production process.On each of 16 consecutive days, she samples 600 bags of candy and determines the number in each day's sample that she considers to be of poor quality.The data that she developed follow. Number Proportion 1 33 0.0550000 2 29 0.0483333 3 31 0.0516667 4 32 0.0533333 5 43 0.0716667 6 45 0.0750000 7 46 0.0766667 8 48 0.0800000 9 48 0.0800000 10 46 0.0766667 11 28 0.0466667 12 32 0.0533333 13 28 0.0466667 14 32 0.0533333 15 31 0.0516667 16 24 0.0400000 -Referring to SCENARIO 15-6, the estimate of the proportion of poor-quality bags of candy is.

Double-clicking a cell in a PivotTable causes Excel to drill down and display the underlying data in a new worksheet.

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 highest mean weekend box office revenue is predicted to occur with at least $45 thousand spent on TV advertisement and at least 25 advertisement appearances a day.

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 lower than $50.