Exam 14: Business Analytics

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 $30 thousand spent on TV advertisement and 30 advertisement appearances a day.

Poke-Yoke devices is among the tools of Lean Six Sigma.

Special or assignable causes of variation are signaled by individual fluctuations or patterns in the data.

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

In multidimensional scaling, the general rule is to increase the number of dimensions as long as the stress statistic decreases substantially.

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, an R chart is to be constructed for the time required to register.The upper control limit for this data set is _.

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 X chart to see if the production process is in-control.What is the center line for this chart?

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, construct an X chart for the weight.

SCENARIO 15-2 A political pollster randomly selects a sample of 100 voters each day for 8 successive days and asks how many will vote for the incumbent.The pollster wishes to construct a p chart to see if the percentage favoring the incumbent candidate is too erratic. Sample (Day) Number Favoring IncumbentCandidate 1 57 2 57 3 53 4 51 5 55 6 60 7 56 8 59 -Referring to SCENARIO 15-2, which expression best characterizes the p chart?

Some business analytics are performed by adding variables to see if unforeseen relationships are uncovered.

Data mining uses various techniques to extract useful information from huge depositories of data.

Each observation is treated as its own cluster at the beginning in hierarchical clustering.

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 X chart to see if the process is in-control.Which expression best describes this chart?

SCENARIO 14-5 The output below shows the results of the neural network 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 14-5, out of the 7 customers who did switch in the validation data set, how many are correctly classified by the neural network?

Which of the following is NOT one of the categories of predictive analytics methods?

SCENARIO 15-7 A supplier of silicone sheets for producers of computer chips wants to evaluate her manufacturing process.She takes samples of size 5 from each day's output and counts the number of blemishes on each silicone sheet.The results from 20 days of such evaluations are presented below. She also decides that the upper specification limit is 10 blemishes. -Referring to SCENARIO 15-7, based on the X chart for the number of blemishes, it appears that the process is out of control.

SCENARIO 15-2 A political pollster randomly selects a sample of 100 voters each day for 8 successive days and asks how many will vote for the incumbent.The pollster wishes to construct a p chart to see if the percentage favoring the incumbent candidate is too erratic. Sample (Day) Number Favoring IncumbentCandidate 1 57 2 57 3 53 4 51 5 55 6 60 7 56 8 59 -Referring to SCENARIO 15-2, what is the numerical value of the center line for the p chart?

The SS method establishes ways to organize necessary housekeeping aspects of a work environment.

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, a p control chart is to be constructed for these data.The estimate of the standard error of the sample proportion is _.

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