OPMA 3306 MID-TERM EXAM COMPLETE
QUESTIONS WITH 100% VERIFIED
ANSWERS
\.What are "measures of tendency?" - ANSWERS✔-Mean, median and mode
\.What are "measures of dispersion?" - ANSWERS✔-Range, standard deviation and
variance
\.Which of the two numbers is larger: 10E7 or 1,000? - ANSWERS✔-10E7
\.Which of the two numbers is smaller: 10E-3 or 0.001? - ANSWERS✔-They are the
same.
\.How much of a normal distribution is between values located at one standard
deviation above and one standard deviation below the mean? - ANSWERS✔-68%
\.Regarding linear regression, the differences between the values predicted by the
regression equation and the actual values in the data set are called? - ANSWERS✔-
Residuals
,\.In certain data sets, notably economic income, the distribution is said to be
"skewed." In this kind of distribution, the best measure of central tendency is the:
- ANSWERS✔-Median
\.Generally speaking, the "skew" in the distribution is usually thought to be
because of the presence of: - ANSWERS✔-Outliers
\.What is the relationship of the variance to the standard deviation? - ANSWERS✔-
The standard deviation is the square root of the variance
\.Can you add, subtract, multiply and divide standard deviations? - ANSWERS✔-No
\.True or False: In linear regression, R-square is the amount of systematic variance
that your linear regression model accounts for: - ANSWERS✔-True
\.You are performing a test of statistical inference. In this case, you have a p-value
of 0.001. Your alpha level is 0.05. Although you have no way of knowing this,
absolutely no difference of any kind exists between the groups you are testing.
The null hypothesis is true. How would you describe this? - ANSWERS✔-False
positive
\.As you make the value of alpha smaller, you can avoid one kind of problem.
However, another kind of problem will become more likely. Pick the right pair of
problems, and in the right sequence (which gets better, which gets worse): -
ANSWERS✔-False positive; false negative
, \.True or False. In the majority of cases, capacity is typically fluid and easily
adjusted to meet demand as demand fluctuates: - ANSWERS✔-False
\.True or False. In exponential smoothing, the term "alpha" is multiplied by an
error term (deviation) calculated by the difference between the previous term's
forecast and previous term's demand: - ANSWERS✔-True
\.True or False. We said that, as "n" (the number of periods) of the simple moving
average becomes larger, it starts to approximate the mean of the distribution: -
ANSWERS✔-True
\.True or False. Short term forecasts are those forecasts covering periods up to,
and including, two years. - ANSWERS✔-False. Short term is under 3 months.
\.Points within the supply chain where inventory is positioned to allow processes
or entities in the supply chain to operate independently: - ANSWERS✔-Decoupling
points
\.True of False. In multiplicative seasonal variation, the seasonal amount is
constant no matter what the trend or average amount is: - ANSWERS✔-False. The
seasonal amount is constant in the additive season variation.
\.True or False. According to the algorithm provided by the text (and regarding
seasonality), the final step in analyzing seasonality is to "multiply trend
component by seasonal component:" - ANSWERS✔-True
QUESTIONS WITH 100% VERIFIED
ANSWERS
\.What are "measures of tendency?" - ANSWERS✔-Mean, median and mode
\.What are "measures of dispersion?" - ANSWERS✔-Range, standard deviation and
variance
\.Which of the two numbers is larger: 10E7 or 1,000? - ANSWERS✔-10E7
\.Which of the two numbers is smaller: 10E-3 or 0.001? - ANSWERS✔-They are the
same.
\.How much of a normal distribution is between values located at one standard
deviation above and one standard deviation below the mean? - ANSWERS✔-68%
\.Regarding linear regression, the differences between the values predicted by the
regression equation and the actual values in the data set are called? - ANSWERS✔-
Residuals
,\.In certain data sets, notably economic income, the distribution is said to be
"skewed." In this kind of distribution, the best measure of central tendency is the:
- ANSWERS✔-Median
\.Generally speaking, the "skew" in the distribution is usually thought to be
because of the presence of: - ANSWERS✔-Outliers
\.What is the relationship of the variance to the standard deviation? - ANSWERS✔-
The standard deviation is the square root of the variance
\.Can you add, subtract, multiply and divide standard deviations? - ANSWERS✔-No
\.True or False: In linear regression, R-square is the amount of systematic variance
that your linear regression model accounts for: - ANSWERS✔-True
\.You are performing a test of statistical inference. In this case, you have a p-value
of 0.001. Your alpha level is 0.05. Although you have no way of knowing this,
absolutely no difference of any kind exists between the groups you are testing.
The null hypothesis is true. How would you describe this? - ANSWERS✔-False
positive
\.As you make the value of alpha smaller, you can avoid one kind of problem.
However, another kind of problem will become more likely. Pick the right pair of
problems, and in the right sequence (which gets better, which gets worse): -
ANSWERS✔-False positive; false negative
, \.True or False. In the majority of cases, capacity is typically fluid and easily
adjusted to meet demand as demand fluctuates: - ANSWERS✔-False
\.True or False. In exponential smoothing, the term "alpha" is multiplied by an
error term (deviation) calculated by the difference between the previous term's
forecast and previous term's demand: - ANSWERS✔-True
\.True or False. We said that, as "n" (the number of periods) of the simple moving
average becomes larger, it starts to approximate the mean of the distribution: -
ANSWERS✔-True
\.True or False. Short term forecasts are those forecasts covering periods up to,
and including, two years. - ANSWERS✔-False. Short term is under 3 months.
\.Points within the supply chain where inventory is positioned to allow processes
or entities in the supply chain to operate independently: - ANSWERS✔-Decoupling
points
\.True of False. In multiplicative seasonal variation, the seasonal amount is
constant no matter what the trend or average amount is: - ANSWERS✔-False. The
seasonal amount is constant in the additive season variation.
\.True or False. According to the algorithm provided by the text (and regarding
seasonality), the final step in analyzing seasonality is to "multiply trend
component by seasonal component:" - ANSWERS✔-True
