The accuracy of the point estimate is measured by its a. sampling error. b. standard error. c. standard deviation. d. nonsampling error.
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- The Empirical Rule tells us that … a) __________ of the data lies within 1 standard deviation of the mean b) __________ of the data lies within 2 standard deviation of the mean c) __________ of the data lies within 3 standard deviation of the meanWhich of the following statements is NOT true about the process capability ratio? a. The process capability ratio is a ratio for determining whether a process meets design specifications. b. The process capability ratio is computed as the difference of the upper and lower specification limits divided by six standard deviations. c. The process capability ratio is a ratio of the specification to the process variation. d. A capable process has a process capability ratio less than one.In each of the following situations, indicate whether a fixed (F), sequential (S), or discovery (D) attributes sampling plan is being used. The audit team has determined the tolerable rate of deviation to be 5%, the risk of overreliance to be 10%, and the expected population deviation rate to be zero. The audit team is performing a sampling application to evaluate the operating effectiveness of an entity’s internal controls. The application used could provide a more efficient method of examination, but it is important that the audit team evaluate the sample in the order they were selected. The audit team established the risk of overreliance to be 5%, the tolerable rate of deviation to be 4%, and the expected population deviation rate to be 3%. Using the AICPA Sample Size tables, the audit team decided to sample over 1,000 items. Using the AICPA Sample Size tables, the audit team determined the appropriate sample size and selected the sample items. However,…
- There are different assumptions when comparing two proportions for small samples than for large samples. True False A confidence interval can be calculated for either the standard deviation or the variance. True False Quality is defined by the extent to which a product satisfies the needs of its users. True Falsecan you help me answer this questions: 1-A moving average is the average of the observations in the past few periods, where the number of terms in the average is the span. True False 2- All nominal data may be treated as ordinal data. False True 3 - Phone numbers, Social Security numbers, and zip codes are typically treated as numerical variables. True False 4 - Correlation is useful only for: a.measuring the strength of a linear relationship. b.conveying the same information in a simpler format than a scatterplot. c.measuring the strength of a nonlinear relationship. d.assessing the weakness of a linear relationship. 5 - Which of the following will give the value for the third quartile? a. QUARTILE.INC(array, 0.25) b.QUARTILE.INC(array, 0.75) c. PERCENTILE.INC(array, 0.75) d.DECILE.INC(array, 0.30) 6 - _______ sampling applies to populations that are divided into natural subsets and allocates the appropriate proportion of samples to each subset.…Sampling error is defined as: an error that occurs when a sample of less than 30 elements is drawn. an error that occurs during collection, recording, and tabulation of data. the difference between the value of a sample statistic and the value of the corresponding population parameter.
- Since each process capability index relies on the estimate of process standard deviation, which in turns relies on sampling, therefore which following statement is INCORRECT? a. Confidence interval of each capability index should be found, instead of computing only a point estimate. b. Each process capability index follows some distribution. c. Each process capability index is a random variable. d. The distribution of Cpk is approximately normal. e. none of the aboveThe difference between the sample value and the true value in the population under study is referred to as _______. A. sampling error B. random error C. measurement error D. chance variation E. none of the aboveThe mean of the sample mean will tend to be worse of an estimate, then a single sample
- What is the meaning of x ~ N (50, 20)? 1. Sampling distribution of x is distributed with a mean of 20 and a standard deviation of 50 2. x-bar is normally distributed with a mean of 20 and a standard deviation of 50 3. x is normally distributed with a mean of 50 and a standard deviation of 20 4. Sampling distribution of x is distributed with a mean of 50 and a standard deviation of 20When a robot welder is functioning properly the cylinders it produces burst (on average) at 3400 psi, with known standard deviation 100 psi. Determine the 3-Sigma mean control chart limits. Test lot sample sizes are n=4 cylinders randomly selected from the production line. a. Centerline = ____ b. Upper Limit = ____ c. Lower Limit = ____ d. What is the probability that random variation will exceed the ± 3-sigma limits ____. (four decimal places with zero before the decimal)Discuss the basic differences between the mean absolute deviation and mean absolute percent error.