A population of size 1,000,000 has mean 42 and standard deviation 6. Sixty random samples, each of size 15 are selected. According to the Central Limit Theorem the distribution of the sixty sample means has a standard deviation of approximately:
A. 6
B. 6/42
C. 6/15
D. 6/ 15
E. none of the above
A ____ from a sample is used to estimate a population _____. The two words that best fill these blanks are:
A. item, value
B. value, statistic
C. statistic, parameter
D. parameter, value
E. parameter, statistic
A population of size 1,000,000 has mean 42 and standard deviation 6. Sixty random samples, each of size 15 are selected. According to the Central Limit Theorem the distribution of the sixty sample means has a mean of approximately:
A. 42
B. 42/6
C. 42/15
D. 42/ 15
E. none of the above
The term "expected value" is closest to the term:
A. median
B. probabilistic model
C. mean
D. Markov value
E. regressive value
A random sample is selected from a population of measurements. The mean of the sample is not equal to the mean of the population. This is due to:
A. Type I error
B. Type II error
C. sampling error
D. the population is not normal
E. measurements were not exact
The primary metric for a project is reduced cost for process A . Baseline data might include:
A. current maintenance costs
B. current selling price for the products or services output by process A
C. current suggestions from stakeholders of process A
D. all the above
E. none of the above
According to the Central Limit Theorem:
A. the median and the mean have the same value in a symmetric distribution
B. the mode of a normal distribution is also the mean
C. the mean of an exponential distribution is smaller than the median
D. the mean, median and mode of a normal distribution all have the same value
E. none of the above
A project that lacks a clear definition of its scope and boundaries runs the risk of:
A. straying from the intended path
B. trying to solve unrelated problems
C. having difficulty in collecting baseline data
D. suffering morale problems
E. all the above
F. none of the above
The primary metric for a project is reduced cost for process A .A consequential metric could be:
A. reduced cycle time
B. reduced scrap rate
C. reduced set-up time
D. all the above
E. none of the above
The management team in the above problem assigns each goal a numerical value designating its importance. The "bulls eyes," circles and triangles are replaced by the values 3, 2 and 1 respectively. Entries are made in each box by multiplying the 3, 2 or 1 by the goal value. The importance of each activity is calculated by adding the entries in its row.
A. Affinity diagram
B. Inter-relationship digraph
C. Tree diagram
D. Process decision program chart
E. Matrix diagram
F. Prioritization matrix
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