Use the data on tab “Car Sales Data” in the excel file ...

Use the data on tab “Car Sales Data” in the excel file to answer questions 1-8. This data is a sample of the dealerships owned by Turbo Motors corporation. 1) The variable “Business Bureau Rating” is? A. Nominal B. Ordinal C. Interval D. Ratio 2) The variable “Total Profit” is? A. Qualitative and Interval B. Quantitative and Ordinal C. QuantitativeandRatio D. Qualitative and Ratio 3) For the variable “Number of Sales People” if a frequency distribution is built with a cell width of 4 and the cells being 5-8, 9-12, 13-16, 17-20 what is the cumulative relative frequency for the 13-16 cell? A. 40 B. 12 C. 0.67 D. 0.20 4) What is the mode for the variable “New Car Brand”? A. Honda B. 17 C. Toyota D. Mode doesn’t exist for a qualitative variable 5) What is the average for the variable “Total Profit”? A. $10,412.35 B. $30,778.33 C. $71,994.41 D. $40,721.08 6) What summary of “Used Cars Sold Each Week” is correct (use excel to calculate the quartiles)? A. Min: 2, Q1: 3, Q2: 5, Q3: 7, Max: 8 B. Min: 3, Q1: 3, Q2: 5, Q3: 7, Max: 10 C. Min: 2, Q1: 4, Q2: 6, Q3: 7, Max: 8 D. Min: 2, Q1: 3, Q2: 4, Q3: 6, Max: 8 7) If a car dealership has Toyota as it’s New Car Brand, what is the probability it has a AA+ Business Bureau Rating? A. 0.250 B. 0.400 1 C. 0.375 D. 0.655 8) What is the probability a dealership has Ford as it’s New Car Brand and has a AAA Business Bureau Rating? A. 0.65 B. 0.20 C. 0.33 D. 0.05 9) How many outcomes are possible in an experiment in which a coin is flipped 4 times and a six side di is rolled 3 times? A. 2 B. 12 C. 3456 D. 1723 10) There is a 20% chance that a customer entering one of the dealerships will purchase a new car. What is the probability that 5 of the next 15 customers will purchase a new car? A. 0.1032 B. 0.9389 C. 0.2648 D. 0.1645 11) There is a 20% chance that a customer entering one of the dealerships will purchase a new car. What is the probability at least 4 of the next 15 customers will purchase a new car? A. 0.2561 B. 0.3518 C. 0.8358 D. 0.1642 12) The time to complete an oil change at the dealerships is normally distributed with a mean of 16.5 minutes and a standard deviation of 2.5 minutes. What is the probability an oil change will take exactly 16.5 minutes? A. 0.3625 B. 0.6431 C. 0.5000 D. 0.0000 13) The time to complete an oil change at the dealerships is normally distributed with a mean of 16.5 minutes and a standard deviation of 2.5 minutes. What is the probability an oil change will take more than 18 minutes? A. 0.7257 B. 0.2743 C. 0.1333 D. 0.6127 2 14) The time to complete an oil change at the dealerships is normally distributed with a mean of 16.5 minutes and a standard deviation of 2.5 minutes. What is the probability an oil change will take between 14.2 and 17 minutes? A. 1.0000 B. 0.6824 C. 0.4005 D. 0.2345 Given the data below describing orders not correctly filled at Sweet Sallie’s BBQ answer questions 15 and 16 (using +-3 st dev control chart – as done in the text) Day # Orders not Orders correct 1 40 10 2 40 11 3 40 8 4 40 8 5 40 12 6 40 4 7 40 14 15) If tasked to develop a (P bar) control chart what would be the centerline value? A. 40 B. .0369 C. .2393 D. .4416 16) Looking at the control chart does there appear to be special cause variation? A. Absolutely B. SeveralpointsexceedtheUpperControlLimit C. No, the process appears in control D. Not clear from data available 3 Given the data below of a sample of 5 separate pages published by the Charismatic Magazine Company answer questions 17 &18 (c chart - using +-3 st dev control chart – as done in the text). Page # of Typos on the page 12 22 33 45 55 17) What is the LCL for the C chart? A. 0 (it does not exist) B. 3.4 C. 8.932 D. -2.132 18) What is the UCL? A. 0 (it does not exist) B. 3.4 C. 8.932 D. -2.132 Glow worm is a company that produces light bulbs and other electrical products. One light bulb is supposed to have an average life of about 1000 hours before it burns out. Periodically, the company will test 5 of these and measure the average time before the bulbs burn out. Use the following table of 10 such samples for questions 19-22: Sample 1 2 3 4 5 6 7 8 9 10 Mean 1000 979 1065 963 972 1052 988 999 1087 1016 Range 70 149 138 69 61 58 83 57 103 102 19) What are the lower and upper control limits for the R chart? A. 0 and 131.1 B. 0 and 161.9 C. 0 and 188.1 D. 0 and 89 20) What is center line for the R chart? A. 131.1 B. 161.9 C. 188.1 D. 89 4 21) What are the upper and lower control limits for the 𝑋𝑋� chart? A. 808.2 and 1,215.4 B. 960.7 and 1,063.5 C. 0 and 1,011.8 D. 0 and 203.6 22) Is the process in control? A. The range is in control so the entire process is in control B. The mean is in control C. Specialcausesofvariationmaybepresentfortheprocessrange. D. Special causes of variation may be present for the process mean 23) If the sample size is increased 5 to 10 for computing R and X chart values? A. D3 increases B. D4decreases C. A2decreases D. All of the above The following data set shows the results of a survey conducted to see if there is a relationship between the number of hours studying and students’ test grades. Use this data to develop a regression that will predict student’s grade based on number of study hours. Use this data to answer questions 24 - 28 5 67 15 94 17 93 16 92 14 91 3 65 12 85 11 95 13 84 20 99 4 65 24) What is the correlation coefficient for this model? A. 0.94 Study hrs/wk Test Grade B. 0.97 C. -0.88 D. 0.88 5 25) Which of these statements below is true? A. 88% of the variability of the test grades is explained by the number of hours studied B. 94% of the variability of the hours studied is explained by the test grade C. 88% of the variability of both variables is explained by the regression D. Both B and C are true 26) What is the sum of squares error for the model? A. 3.031 B. 33.35 C. 204.22 D. 18.565 27) Based on this regression model, if a student spends an average of 11 hours per week studying, what will his/her expected test grade be (round to the nearest integer)? A. 95 B. 83 C. 90 D. Not enough information to answer this question 28) What is the dependent variable (study hours per week or test grade)? A. Study hours per week is the dependent variable B. Testgradeisthedependentvariable C. Both variables are dependent on each other D. Neither of the variables are dependent Use the following excel regression output to answer questions 29 – 32: 6 29) What is the coefficient of determination for the model? A. 0.917 B. 31.85 C. -53.28 D. 0.841 30) What is the correlation coefficient of the model? A. 0.917 B. 31.85 C. -53.28 D. 0.841 31) What is the sum of squares regression (round to the nearest integer)? A. 83 B. 601 C. 16835 D. 88770 32) What is the standard error of the regression? A. 10.21 B. 24.52 C. 2.62 D. 12.83 The below table represents the car sales at a local used car dealer. Use the data on questions 33 to 35. Month January February March April May June Demand 120 110 130 120 145 125 33) Using a three month moving average, A. 120 what is the forecast for July? B. 130 C. 125 D. 135 7 34) Using a 2 month weighted moving average where the latest month has a weight of 0.7, what is the forecast for July? A. 120.5 B. 87.5 C. 135 D. 131 35) The Forecast for January was 130. Using an alpha of 0.4, what is the forecast for July using exponential smoothing? A. 128.8 B. 132.7 C. 126.4 D. 130.2 The table below shows the demand and the forecasted amounts for an item at a local business. Use this table to answer questions 36 to 38. Month January February March April May June Demand Forecast 700 800 675 700 700 750 800 820 750 675 675 650 36) What is the mean absolute deviation for the forecast? A. 49.2 B. 45.3 C. 34.2 D. 39.7 37) What is the mean squared error for the forecast? A. 2976 B. 1727 C. 3296 D. 3872 38) What is the MAPD for the forecast? A. 6.9% B. 4.8% C. 9.7% D. 7.9% 8 39) The table below illustrates the quarterly sales of swimsuits at a local retailer. Using the method shown in the text, calculate the forecast for quarter 2 in year 5. Quarter Quarter Quarter Quarter Year 1 2 3 4 1 25 75 125 75 2 40 100 150 60 3 50 120 160 70 4 85 140 175 100 A. 160 B. 154 C. 142 D. 169 40) The data in the table below shows the number of attendees at Husker Water Park. Develop a linear regression to for the number of attendees based on the forecast temperature. What would be the forecasted attendance with a forecasted temperature of 88 degrees? 95 100 A. 70 B. 65 C. 80 D. 75 41) The table below illustrates the MAD, MAPD, and the MSE for 4 different forecasts. Which forecast method would be best to use moving forward? Forecast Temperature Attendance 60 10 65 15 70 25 80 50 90 75 Forecast Method MAD Moving Average 27.2 Weighted Moving Average 16.4 Exponential Smoothing 30.7 Regression 24.6 A. Moving Average B. Weighted Moving Average C. ExponentialSmoothing D. Regression MAPD MSE 9.60% 710 5.40% 354 10.20% 878 7.80% 576 9 Using the following data to answer questions 42-44 Activity Optimistic Most likely Pessimistic A 4 7 10 B368 C 9 11 12 D 2 7 10 E 11 14 16 F 6 10 16 G469 42) What is the mean expected completion time for activity D? A. 11.83 B. 6.67 C. 12.09 D. 10.56 43) There are two activities (D and E) in the critical path, what is the variance of the critical path? A. 2.333 B. 2.47 C. 2.028 D. 2.456 44) What is the standard deviation of activity G? A. 0.833 B. 0.756 C. 0.652 D. 0.231 10 Use the following table to answer question 45-48. Completion Activity Predecessor time A2 B3 CA2 DB4 EC4 FC3 GD,E 5 HF,G 2 45) What is the project completion time? A. 22 B. 20 C. 15 D. 17 46) Which activities are on the critical path? A. B, D, E, H B. B, D, G, H C. A,C,E,G,H D. A,C,F,H 47) What is the latest finish time for activity D? A. 12 B. 8 C. 10 D. 9 48) Which activity has the most slack? A. C B. A C. B D. F 49) You have the following results for a given period: Expected completion time of the given project = 48 Variance of project completion time = 6.25 What is the probability of completing the project over 46 days? A. 0.957 B. 0.886 C. 0.7881 D. 0.853 11 50) If a project is to be crashed at the minimum possible additional cost, then the first activity to be crashed must be: A. On the critical path B. the one with the shortest activity time. C. the one with the longest activity time. D. the one with the lowest cost. Record your answers using CAPITAL letters in the table on first page. Enter your answers into the exam answer sheet in Black Board 12