Performance Metrics & Process Variability Analysis Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. How are variance and standard deviation similar?

Question 2 2. We expect what percentage of data points to fall within 1 standard deviation on a normal distribution?

Question 3 3. Mean, median, and mode are often used to do which of the following?

Question 4 4. What is statistical variance?

Question 5 5. Which of the following can be explained by differences occurring during the manufacturing process?

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Question 6 6. What is the central value of the histogram?

Question 7 7. Why is inventory valuation used?

Question 8 8. If the value of the standard deviation is 4, what is the variance?

Question 9 9. Which of the following is a costing method that is used to track cost specific and identifiable inventory items that are either in or out of stock?

Question 10 10. Sam sells his inventory from a booth. He grabs whichever item he can and, at the end of the month, has sold everything. Which costing method would Sam use?

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Question 11 11. Which costing method assumes that the most recent inventory items purchased are the first ones to be sold, and inventory items purchased first are sold last?

Question 12 12. According to the empirical rule, about what percentage of data is within three standard deviations from the mean?

Question 13 13. Which of the following is a costing method that assumes inventory items are sold in the order in which they are acquired?

Question 14 14. Which of the following is true about this graphic?

Question 15 15. What are the three most common measures of data dispersion?

Performance Metrics & Process Variability Analysis Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Business 312: Advanced Operations Management  /  Business Courses
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