LSSMBB Online Practice Questions and Answers

While checking regression model assumptions, an engineer generates the following plot of residuals versus predicted Y.

Which of the actions below is the most appropriate next step?

A. Transform the response and re-fit the model

B. Make additional runs, collect additional data and re-fit the model

C. No transformation is required for this type of pattern

D. Transform the independent variable and re-fit the model

Control Charts were developed by Dr. Shewhart to track data over time. To detect Special Cause variation the Control Charts use which of these?

A. Data shift analysis

B. Outlier analysis methods

C. Center Line and Control Limits

D. None of the above

Which statement(s) are incorrect for the Regression Analysis shown here? (Note: There are 2 correct answers).

A. The air-fuel ratio explains most of the TurbineOutput variation

B. The Regression explains over 98% of the process variation

C. This Multiple Linear Regression has three statistically significant independent variables

D. If the air-fuel ratio increases by 1, the TurbineOutput more than triples

E. The SteamExitTemp explains the most variation of the TurbineOutput

When a Belt properly analyzes the results of an experiment he must examine the Residuals in expectation of finding all of the following except _________.

A. Some Residuals higher than others

B. Some Residuals lower than others

C. All Residuals within 2 Standard Deviations of the Mean

D. Residuals will represent a Linear Regression

Which statement(s) are correct about the Regression shown here? (Note: There are 2 correct answers).

A. The dependent variable is the outside temperature

B. The relationship between outside temperature and number of customers per hour is a Linear Regression

C. The dashed lines indicate with 95% confidence where all of the process data should fall between

D. The dashed lines indicate with 95% confidence the estimate for the Quadratic Regression Line

E. The predicted number of customers per hour is close to 5 if the outside temperature is 10 deg C

An ANOVA used across many dependent variables could increase the Beta risk.

A. True

B. False

What dollar amount of savings would a project show if it reduced your outstanding Accounts Receivable by $1.4 million dollars to $5.3 million total and your organization's marginal cost of capital was 6.2%?

A. $43,400

B. $86,800

C. $117,500

D. $328,600

Which of these might contribute to similar distributions having Unequal Variance?

A. Extreme tails

B. Outliers

C. Multiple Modes

D. All of the above

Sally and Sara sell flower pots at their garage sale. Sally motivates Sara mentioning that they will sell a minimum of 22 pots per day if the outside temperature exceeds 60o F. From a sample, whose population is assumed to follow a Normal Distribution, taken for 30 days at 60 degrees or more an average of 18.2 pots per day were sold with a Standard Deviation of 0.9 pots. What is the Z value for this sales process?

A. 1.23

B. 1.62

C. 2.11

D. 4.22

The distance between the Mean of a data set and the Point of Inflection on a Normal curve is called the _______________.

A. Curve Spread

B. Standard Deviation

C. Numerical Average

D. Data Breadth