Define standard error of the mean


Questions:

1. The component of statistical methodology that includes the collection, organization, and summarization of data is called _____.
descriptive statistics
analytical statistics
inferential statistics
predictive statistics

2. Which of the following requires the opinion of an expert to determine the location and characteristics of a definable sample group?
Judgment sample
Simple random sample
Systematic sample
Stratified sample

3. The sampling method in which every item in the population has an equal probability of being selected is called which of the following?
Simple random sampling
Stratified sampling
Systematic sampling
Judgment sampling

4. Sample _____ are often used as estimators of population _____.
parameters, parameters
statistics, statistics
statistics, parameters
parameters, statistics

5. A system governed only by common cause variation is a system that exhibits which of the following?
It is highly productive.
It is stable.
It meets a customer's quality specifications.
It has zero natural variation.

6. Flowcharts are best developed by which of the following?
Computer graphics programs
People not involved in the actual process to insure impartiality
Industrial engineers with training in graphics
People involved in the process that is under study

7. Which of the following is not true regarding control charts?
Control charts can be used to monitor a process for the existence of special cause variation.
The major components of a control chart are the lower control limits, the center line, and the upper control limits.
Control charts alone can determine the source of problems.
Control charts are similar to run charts in that data is plotted versus time.

8. Simple regression analysis is a tool that characterize relationships between a _______________ and _____________________.
regression partner, simple partner
dependant variable, one independant variable
highly complex parameter, simple parameters
mistake-proof variable, moving target

9. Short, repeated patterns in a control chart, with alternating high peaks and low valleys, are known as _____.
trends
cycles
spikes
reciprocals

10. If a process is neither capable nor in control, the appropriate first step is to _____.
remove common causes
redesign the equipment
remove sources of special cause variation
determine the process capability index

11. Determine the sample standard deviation(s) for the following data: 8, 2, 3, 0, 1, and 5.
s = 2.805
s = 3.266
s = 2.927
s = 3.578

12. Six samples of subgroup size 6 (n=6) were collected. Determine the upper control limit (UCL) for an X-Bar chart if the mean of the sample averages is 4.7 and the mean of the sample ranges is 0.35.
CHART
UCL = 4.86905
UCL = 4.90195
UCL = 4.72250
UCL = 5.05805

13. Twenty samples of subgroup size 3 (n=3) were collected for a variable measurement. Determine the upper control limit (UCL) for an R-chart if the mean of the sample ranges equals 4.4. TABLE
UCL = 9.3016
UCL = 1.4696
UCL = 11.3256
UCL = 8.8176

1.Briefly describe the 5 types of Sampling Methods.

2. Define standard error of the mean.

3. What is a judgment sample, and discuss why it is not a preferred method of sampling?

4. Define pre-control and explain pre-control benefits organization

5. Outline the basic steps for setting up a control chart to monitor a process and determine its process capability

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Microeconomics: Define standard error of the mean
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