BIS 155 Final Exam

BUY BIS 155 Final Exam

Section 1.0 20 Points - (5 points per Question)

1.1 Define Pareto Analysis. How would you apply this statistical technique to the business world? Provide real world examples. Explain the types of problems you will encounter in the profession you are going and how you can use Pareto Analysis.

1.2 In your own words, define what the standard deviation is? How would you apply this statistical technique to the business world? Explain the types of problems you will encounter in the profession you are going and how you can use standard deviation

1.3 In your own words, what does Coefficient of Determination mean? What letter represents this term? How would you apply this statistical technique to the business world? Explain the types of problems you will encounter in the profession you are going and how you can use coefficient of determination.

1.4 In your own words, what does Correlation Coefficient or Correlation mean? What letter represents this term? How would you apply this statistical technique to the business world? Explain the types of problems you will encounter in the profession you are going and how you can use correlation coefficient

Section 2.0 Data Analysis (15 Points per Problem)

2.1 Given the data below from the corrugated industry, accomplish a Pareto analysis and then construct a Pareto graph(s). Describe how you would use this analysis. Do not simply interpret the graphs but actually what would be done using this data, what problem would start to resolve, why?

2.2 Given the data below from the department of transportation industry, accomplish a Pareto analysis and then construct a Pareto graph(s). Describe how you would use this analysis. Do not simply interpret the graphs but actually what would be done using this data, what problem would start to resolve, why?

2.3 Accomplish a scatter plot of Automotive Registrations versus Traffic Accidents. Perform the necessary calculations to complete the statements/questions listed below. Paste your graph below the data and answer the questions.

2.4 Listed below is the data acquired when measuring melt flow results (mg/min) of a PVC compound. Using Excel, determine the following calculations below and answer any applicable questions pertaining to the data/calculations.What is your interpretation of this data?

2.5 Describe what you learned by accomplishing the analysis project on complaints that we accomplished during class. How will you retain the knowledge from this class? What is your specific plan to keep learning Excel? (Note: You need to give this a lot of thought as if you do not continue in some way to practice on Excel, all of your gains will be lost)

Section 3.0 50 Points - (10 points per Question)

3.1What is a cause/effect diagram? How can you use this diagram? How can this diagram be used in a brainstorming activity?

3.2 The Deming Cycle is shown below. Label the parts of the Deming Cycle Circle. What does this philosophy mean and how would you use this tool in the business environment? How do the different statistical tools fit into this model?

3.3Compare and discuss your skill level and knowledge prior to taking this class and the learning’s that you will take away once you have completed this course. Have you learned anything about your career path?

3.4Identify 8 to 10 items that you learned from the threaded discussions. Identify 10 to 15 websites that you think can be useful going forward.

3.5 Finally, what did you like about the course? Identify 15 to 20 items that you learned in this class. How do you think you can use the information that was presented in this class in your influence in the business world?