WGU C207 Quizes - variables, such as car mileage and resale price...

WGU C207 Quizes

• A descriptive graph depicting whether there is a correlation or relationship between two

variables, such as car mileage and resale price would be:: Scat- terplot

• A food chain finds that there is a strong positive correlation between average daily sales

for their pizza store and the number of daily visits to their website. What should be considered before the pizza chain can conclude that the daily sales are driving the number of visits to their website (or vice versa)?: Is there a causal relationship between sales and site visits?

• How are z-scores from a population with normal distribution distributed?-

: Normal Distribution with mean 0 standard deviation 1

• A stock broker offers two portfolios for his clients. There are various risks with each

portfolio and his is trying to minimize the risk of loss. Both portfolios have the same mean return.Which measure should the employee use to decide between these alternatives?: Variance

• A comparison between the effectiveness of online vs. newspaper coupons was conducted

over a 3 month period to see which method brought in greater average revenue per customer.Which statistic should the pizza manager rec- ommend use to determine promotional

method to use?: T-test

• Which type of distribution would you expect to see if mean=mode=medi- an?: Normal

distribution

• Two variables are plotted on a scatterplot and the points on the plot closely follow an upward,

straight line. What is the likely correlation between the two variables?: Close to 1.0

• Which of the following statistics are robust to minimize the effect of a single large outlier?

(More than one answer): Median

Interquartile range Mode

• A craftsman builds two kinds of birdhouses. One for bluebirds and one for cardinals. He

knows the amount of labor and the units of lumber that are needed for each birdhouse. The craftsman has available 60 hours of labor and

120 units of lumber. Which technique should the craftsman use to minimize cost?: Linear Programming

• Ski Boards, Inc. wants to enter the market quickly with a new finish on its ski boards. It

has three choices: refurbish the old equipment, make major modifications or purchase new equipment. The company has estimated the fixed and variable cost for each option. Which

technique should they use to select the least costly option?: Cross Over

• Which analysis technique can be used with hypothesis testing when nom- inal or

categorical data is gathered?: Chi-square 1 / 2

• United Motors indicates that gas mileage tests of one of their cars, the Starbird 300, under

city driving conditions has a mean of 30 mph and a median of 29.9 mph. Which type of

distribution would this testing represent?: Normal distribution

• North American Oil Company is attempting to develop a reasonably priced gasoline that

will deliver improved gasoline mileage. As part of its develop- ment process, the company would like to compare the effects of three types of gasoline. Which analysis technique should

the company use to compare the performances of each gasoline type?: ANOVA

• A large manufacturer wants to forecast demand for a piece of pollu-

tion-control equipment. A review of the past 12 months of sales indicates that sales are

increasing. What time series pattern does the sales likely exhibit?: - Trend

• A car dealership wishes to forecast car sales based upon price discounts and television ads.

What forecasting technique should the dealership use?: - Multiple Regression Analysis

• A company uses time series analysis to develop its product forecast. The forecaster uses

simple linear regression but notices that the past data trend is aligned with advertising expenditures. What issue might exist with this regression analysis?: Autocorrelation

• A business entrepreneur wishes to predict yearly revenue for potential Sub Restaurant sites.

He performs a regression analysis based upon the area's population and business rating. What statistic indicates the strength of the relationship of population and rating to revenue?: R - square

• A researcher is evaluating voter turnout based upon age and location of voting precincts.

Which analysis technique should she use?: Cluster Analysis

• An entrepreneur is thinking about starting an independent gasoline sta- tion and

considering how large the station should be. The annual return will depend upon the size of station and a number of marketing factors related to the oil industry and demand for gasoline.What analysis technique should be

used to evaluate station size given the uncertainty of oil industry and demand factors?: Decision Analysis

• After traveling down the Mississippi River, barges randomly arrive in New Orleans and

are unloaded on a first-in, first-out basis. Any barges not unloaded on the day of arrival must wait until the following day incurring additional cost and negatively affecting customer service. The dock superin- tendent wants to use analytics to support a request for additional

unloading crews. What analysis technique should he use?: Simulation

• A Boston Hallmark store is preparing a budget for the next year and needs to forecast sales.

The store notices variation in sales around holidays. What pattern describes the data to be

forecasted?: Seasonality

• For companies to attract and retain their best customers they need a complete portrait of

who they are. To develop this portrait companies turn to: Analytics

• A manufacturer wants to maximize their factory output while specifically minimizing
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