STUDY GUIDE LATEST 2024 ACTUAL EXAM QUESTIONS AND
CORRECT VERIFIED ANSWERS WITH RATIONALES|ALREADY
GRADED A+
Occurs when a given data point on a time series analysis is affected
by a previous data point for that time series. - ANSWER-
Autocorrelation
Occurs when all of the random variables have the same general finite
variance. - ANSWER-Homoscedasticity
The random variables have an unequal spread of variances -
ANSWER-Heteroscedasticity
Can be applied when the dependent variable is a categorical, binary
variable. - ANSWER-Logistic Regression
We use the amount of snow fall in inches to predict if Suzie calls off
work. Which regression is this? - ANSWER-Logistic. Calling off work is
binary. Yes or no.
We use the amount of snow fall in inches monthly to predict
employee call-off rates. Which regression is this? - ANSWER-Linear or
Least Squares regression. Call-off rates are numbers.
,We use the amount of snow fall in inches monthly and the
employee's previous call off rates to predict call offs next month.
Which regression is this? - ANSWER-Multiple. We have more than
one independent variable.
We use the amount of snow fall in inches monthly and the
employee's previous call off rates to predict call offs next month. This
analysis can be affected by ______. - ANSWER-Autocorrelation.
Whenever time is an independent variable, you can may this.
y = 50 + 20x1 - 10x2. If x1 = 2 and x2 = 6, solve for y. - ANSWER-y = 50
+ 20(2) - 10(6) y = 50 + 40 - 60 y = 30
States that a company is dedicated to quality practices and is
continually working to ensure that it is producing at the highest level
possible. (Global Standards) - ANSWER-ISO: International
Organization for Standardization
After several trials we decide to implement our new procedure to
eliminate quality defects. Which stage of PDCA are we in? - ANSWER-
Act (trialing is doing, after trial success we act)
We measure the effectiveness of our trial of a new procedure. Which
phase of the PDCA are we in? - ANSWER-Check
Focus on eliminating anything that does not add value to customers
or satisfy the customers' need - ANSWER-Lean
,Name the quality principle: understand customers' current and
future needs and strive to meet or exceed those needs - ANSWER-A
focus on customers
Name the quality principle: People at all levels of the organization
must be fully engaged and involved in the pursuit of quality to
maximize its benefits to the organization - ANSWER-Engaged
Colleagues
Name the quality principle: ensure consistency and efficiency among
organization-wide activities - ANSWER-Systems Approach
Name the quality principle: These informed decisions reduce bias
and foster trust in decisions and plans - ANSWER-Fact-based
decisions
Prevent defects from occurring - ANSWER-Quality Assurance
Assess performance and recommend corrective action - ANSWER-
Quality Control
Training - ANSWER-Quality Assurance
Reactive—take action once the problem has occurred - ANSWER-
Quality Control
, Proactive—take action before the problem can occur - ANSWER-
Quality Assurance
Quality Control Charts - ANSWER-Both QA and QC
Providing a high-level view of the complete process - ANSWER-SIPOC
: an acronym that stands for Supplier-Input-Process-Output-Customer
ensures that you take a broad view of work instead. You'll take into
account the quality of the work and materials that suppliers provide
to the process, as well as how the outputs of the process are
perceived and used by customers - ANSWER-SIPOC
Prevents mistakes from being incorporated into an entire batch of a
product - ANSWER-SPC Statistical Process Control
The responses are limited ("yes" or "no"), and results are absolutes—
they either fit the response or they don't. - ANSWER-Attribute
Data allows you to evaluate information as part of a range rather
than as an absolute—results can be rated on a scale (at any point
between 0 and infinity, including decimals). - ANSWER-Variable
What types of variation will a control chart display? - ANSWER-
Special cause and Common cause variation