BUSN 625 Quizzes 2016
WK1:
Explain the importance of statistics in business.
Statistics plays a huge role in business, because it helps
managers make critical decisions about day to day operation or
e
13. Using the data in the Excel file Cereal Data, develop a probability mass function and
cumulative distribution function (both tabular and as charts) for the random variable
Calories. What is the pr
W4 Quiz
1. Summarize statistical methods used in forecasting and the types of time series to which
they are most appropriate.
There are two major forecasting methods used in todays workplace and they
Question 1 of 5
20.0 Points
Define probability and explain its three perspectives. Provide an example of each.
Probability primarily deals with chance and is a measurement used to measure the likeliho
29. A supplier contract calls for a key dimension of a part to be between 1.96 and 2.04 cm.
The supplier has determined that the standard deviation of its process, which is normally
distributed, is 0.
Week 3 Quiz BUSN625
Question 1 of 5
20.0 Points
Explain the difference between the null hypothesis and alternative hypothesis.
A.There is no difference, both are the same
B.Null hypothesis is what is
BUSN623- Final Exam
20.0 Points
Question 1 of 5
The right to refuse workplace hazards has a fundamental conflict with the ability of a business to
operate effectively (if employees refuse to work ther
Question 1 of 4
25.0 Points
Solve Problem and Applications:Solve Problem and Applications:
ch 6- prob12 (Home market values).
Using the data in the Excel file Home Market Value, develop a
multiple lin
1. Summarize statistical methods used in forecasting and the types of time series to which
they are most appropriate.
There are three major categories of forecasting approaches: qualitative and judgme
Explain the difference between the null hypothesis and alternative hypothesis.
A.There is no difference, both are the same
B.Null hypothesis is what is tested, but alternative hypothesis is what is ac
Solve Problem and Applications: ch11- prob 8, in your textbook.
11-8: Suppose that a car rental agency offers insurance for a
week that will cost $10 per day. A minor fender bender will cost
$1,500, w
Klein Industries
Unit profit
Small
Medium
$20.50
$34.00
Large
$42.00
Monthly Sales
Minimum
Maximum
Small
14,000
21,000
Medium
6,200
12,500
Large
2,600
4,200
Minutes
Bending/Forming
Welding
Painting
To
Week 1 Quiz BUSN625
Question 1 of 5
20.0 Points
Explain the importance of statistics in business.
A.Research & Data Analysis
B.Problem Solving
C.Decision Making
D.All the above
Answer Key: D
Question
BUSN625 - Week 4 DB
What are some reasons that business outputs vary? For example why does production output vary? Explain the difference
between common causes of variation and special causes of varia
7. The Excel file Freshman College Data provides data from different colleges and branch
campuses within one university over four years.
a. Construct appropriate charts that allow you to contrast the
22. The number and frequency of Atlantic hurricanes annually from 1940 through 2007 is
shown below.
Number
0
1
2
3
4
5
6
7
8
Frequency
5
16
19
13
3
5
4
2
1
a. Find the probabilities of 0 through 8 hur
26. In determining automobile mileage ratings, it was found that the mpg (X) for a certain
model is normally distributed, with a mean of 30 mpg and a standard deviation of 1.5 mpg.
Find the following:
Formulation and solution:
Lets assume,
S = Number of small air compressors to produce to maximize the profit,
M = Number of medium air compressors to produce to maximize the profit and
L = Number of l
Question 1 of 4
Solve Problem and Applications:Solve Problem and Applications:ch
5- prob1 (use excel file Call Center Data)
5-1: 1. Call centers typically have high turnover. The director of
human res
Assignment 7
Solve Problem and Applications: 13-7 [Klein Industries manufactures three types of portable air compressors] on
page 451 at the end of chapter 13 in your textbook, 5th edition. The data i
BUSN625 Applied Decision Making PS3
Question 1 of 4
25.0 Points
Solve Problem and Applications: Solve Problem and Applications: ch 5- prob1 (use excel file Call Center
Data)
5-1: 1. Call centers typic
13-7. Klein Industries manufactures three types of portable air compressors: small, medium, and large, which have
SM
MIN
MAX
Order Producted
Auxiliary Variables
Profit per unit
Total Profit
MD
14,000
Week 2 Quiz BUSN625
Question 1 of 5
20.0 Points
The three perspectives of probability are:
A.Fair, good, and excellent
B.Subjective, classical, and empirical
C.Random, event, and experiment
Answer Key
BUSN625 Applied Decision Making
PS2
Question 1 of 4
Solve Problem and Applications:ch3-prob1 p90:
25.0 Points
3-1: Consider the experiment of drawing two cards from a deck in which all picture cards h
BUSN625 D003 Spr 17
Tests & Quizzes
Tests & Quizzes
Wk 6 Quiz
Return to Assessment List
Part 1 of 1 -
100.0 Points
Question 1 of 5
There are types of decisions that do not involve uncertainty or risk
BUSN625 D003 Spr 17
Tests & Quizzes
Tests & Quizzes
Week 4 Quiz
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Part 1 of 1 -
100.0 Points
Question 1 of 5
The statistical methods used in forecasting are:
20.0 Points
A. Fo
Klein Industries
Data
Monthly Sales
Minimum
Maximum
Small
14000
21000
Medium
6200
12500
Large
2600
4200
Time Required
Bending/forming
Welding
Painting
Small
0.4
0.6
1.4
Medium
0.7
1
2.6
Large
0.8
1.2
BUSN625 D003 Spr 17
Tests & Quizzes
Tests & Quizzes
Week 5 Quiz
Return to Assessment List
Part 1 of 1 -
100.0 Points
Question 1 of 5
The three types of inputs common to decision models are: Data, unc
BUSN625 D003 Spr 17
Tests & Quizzes
Tests & Quizzes
PS5
Return to Assessment List
Part 1 of 1 -
100.0 Points
Question 1 of 5
Solve Problem and Applications: ch11- prob 8, in your textbook.
20.0 Point