Descriptive Statistics and Measures: Master the Basics for Supply Chain Analytics

Question 1

Which of these measures does NOT describe the typical center of a dataset?

Accepted Answer

Range

Answer

Mean

Answer

Median

Answer

Mode

Question 2

Which of the following is a measure of how spread out the data is, rather than a measure of the middle of the data?

Accepted Answer

Standard deviation

Answer

Mean

Answer

Median

Answer

Mode

Question 3

Which measure of central tendency is least affected by extreme values (outliers)?

Accepted Answer

Median

Answer

Mean

Answer

Mode

Answer

Range

Question 4

Which of the following is not a measure of dispersion?

Accepted Answer

Kurtosis

Answer

Range

Answer

Standard deviation

Answer

Variance

Question 5

A distribution is considered approximately normal if its mean, median, and mode are nearly equal.

Accepted Answer

True

Answer

False

Question 6

Which measure is most suitable for comparing datasets with different units of measurement?

Accepted Answer

Coefficient of variation

Answer

Mean

Answer

Median

Answer

Mode

Question 7

A histogram with a symmetrical, bell-shaped curve suggests:

Accepted Answer

A normal distribution

Answer

A skewed distribution

Answer

A bimodal distribution

Answer

A uniform distribution

Question 8

Which of the following is a characteristic of a positively skewed distribution?

Accepted Answer

Mean is greater than median

Answer

Mean is less than median

Answer

Data is concentrated on the left side

Answer

Data is evenly distributed

Question 9

The primary purpose of descriptive statistics is to:

Accepted Answer

Summarize and describe data

Answer

Make inferences about a population

Answer

Predict future events

Answer

Test hypotheses

Question 10

Which measure of variability quantifies the average distance between data points and the mean?

Accepted Answer

Standard Deviation

Answer

Range

Answer

Variance

Answer

Coefficient of Variation

Question 11

A distribution with a high standard deviation suggests:

Accepted Answer

Data points are spread out widely from each other

Answer

Data points are closely grouped around the mean

Answer

The mean is close to the median

Answer

The mode is the most frequently occurring value

Question 12

In a normal distribution, roughly what percentage of data points lies within one standard deviation of the mean?

Accepted Answer

68%

Answer

25%

Answer

50%

Answer

95%

Question 13

A histogram with a skewed distribution indicates:

Accepted Answer

Data is more concentrated towards one end of the distribution

Answer

Data is evenly spread across all values

Answer

Data is normally distributed

Answer

Data has a high coefficient of variation

Question 14

When analyzing supply chain data, how should the presence of outliers affect your choice of descriptive statistics?

Accepted Answer

Median and interquartile range are preferred when outliers are present.

Answer

Mean and standard deviation should be used regardless of outliers.

Answer

Outliers should be removed from the data before calculating statistics.

Answer

Mode is always a reliable measure as it is unaffected by outliers.

Question 15

Which measure of central tendency represents the middle value when a dataset is arranged in order from smallest to largest?

Accepted Answer

Median

Answer

Mean

Answer

Mode

Answer

Range

Question 16

The sum of deviations from the mean is always equal to:

Accepted Answer

0

Answer

1

Answer

Mean

Answer

Standard deviation

Question 17

A dataset with a high mean and a low standard deviation indicates that:

Accepted Answer

Values are closely clustered around the mean.

Answer

Values are widely dispersed.

Answer

The mean is not representative of the data.

Answer

The standard deviation is not reliable.

Question 18

Which type of data is most suitable for calculating the mode?

Accepted Answer

Nominal

Answer

Ordinal

Answer

Interval

Answer

Ratio

Question 19

A supply chain manager wants to evaluate the consistency of product lead times. Which descriptive statistic would be most useful?

Accepted Answer

Standard deviation

Answer

Mean

Answer

Median

Answer

Range

Question 20

Which of the following is not a characteristic of a normal distribution?

Accepted Answer

Cannot have negative values

Answer

Bell-shaped curve

Answer

Mean, median, and mode are equal

Answer

Symmetrical around the mean

Question 21

Which graphical representation is most effective in identifying outliers in a dataset?

Accepted Answer

Box plot

Answer

Bar chart

Answer

Pie chart

Answer

Scatter plot

Question 22

When calculating the standard deviation, the variance is:

Accepted Answer

Squared

Answer

Cubed

Answer

Halved

Answer

Inverted

Question 23

Which measure of central tendency is most affected by extreme values or outliers?

Accepted Answer

Mean

Answer

Median

Answer

Mode

Question 24

A data set has a range of 10 and a mean of 5. What is the variance?

Accepted Answer

4

Answer

2

Answer

8

Question 25

Which of the following is NOT a measure of variability?

Accepted Answer

Mean

Answer

Range

Answer

Standard deviation

Question 26

A data set consists of the following values: 2, 4, 6, 8, 10. What is the median?

Accepted Answer

6

Answer

4

Answer

8

Question 27

One of the benefits of using descriptive statistics in supply chain management is:

Accepted Answer

Improved decision-making based on data-driven insights

Answer

Increased operational efficiency through process optimization

Answer

Enhanced customer satisfaction by understanding their needs

Question 28

The standard deviation measures:

Accepted Answer

The average distance of data points from the mean

Answer

The range of values in a dataset

Answer

The presence of outliers

Question 29

In supply chain management, the mode is commonly used to:

Accepted Answer

Determine the most frequently ordered product

Answer

Calculate the average inventory level

Answer

Estimate lead times

Question 30

What is the key difference between a skewed and a symmetrical distribution?

Accepted Answer

Skewed distributions have a longer tail on one side, while symmetrical distributions are balanced around the mean

Answer

Symmetrical distributions are always normally distributed, while skewed distributions are not

Answer

Skewness cannot be measured, so there is no difference between the two

Question 31

How can supply chain managers leverage descriptive statistics to uncover patterns, trends, and potential problems in inventory management?

Accepted Answer

Compare and analyze different measures of central tendency and variability

Answer

Identify only the highest and lowest inventory levels

Answer

Calculate solely the average inventory level

Question 32

In time series analysis, which measure quantifies the strength and direction of a linear relationship between two time-dependent variables?

Accepted Answer

Correlation coefficient

Answer

Mean

Answer

Coefficient of determination

Answer

Standard deviation

Question 33

Which of the following is a measure of central tendency?

Accepted Answer

Mean

Answer

Standard deviation

Answer

Range

Answer

Variance

Question 34

Which of the following is a graphical representation of a data set's frequency distribution?

Accepted Answer

Histogram

Answer

Line chart

Answer

Pie chart

Answer

Scatter plot

Question 35

What is the purpose of a box plot?

Accepted Answer

To display the median, quartiles, and potential outliers of a data set.

Answer

To compare the distributions of two or more data sets.

Answer

To show the relationship between two variables.

Question 36

Which of the following would be the most appropriate measure of central tendency for a data set with a high number of outliers?

Accepted Answer

Median

Answer

Mean

Answer

Range

Answer

Mode

Question 37

What is the key difference between population and sample statistics?

Accepted Answer

Population statistics are calculated using the entire population, while sample statistics are calculated from a subset of the population.

Answer

Sample statistics are more reliable than population statistics.

Answer

Population statistics are always more accurate than sample statistics.

Question 38

Which of the following is a limitation of using descriptive statistics?

Accepted Answer

They do not provide information about the relationship between variables.

Answer

They are difficult to interpret.

Answer

They are only applicable to small data sets.

Question 39

What is the primary purpose of using descriptive statistics in supply chain management?

Accepted Answer

To summarize and describe data in order to gain insights and make informed decisions about supply chain operations.

Answer

To optimize inventory levels.

Answer

To forecast future demand.

Question 40

Which measure of central tendency is least affected by the presence of outliers in a dataset?

Accepted Answer

Median

Answer

Range

Answer

Mean

Answer

Mode

Question 41

Which of the following is NOT a characteristic of variability?

Accepted Answer

Central tendency

Answer

Variability

Answer

Dispersion

Answer

Spread

Question 42

What is the mode of a dataset with the values: 7, 9, 9, 11, 11, 13?

Accepted Answer

9, 11

Answer

13

Answer

10

Answer

7

Question 43

The range of a dataset is 120. If the maximum value is 180, what is the minimum value?

Accepted Answer

60

Answer

0

Answer

120

Answer

240

Question 44

In the context of supply chain management, which measure of central tendency is most suitable for describing the typical lead time of suppliers?

Accepted Answer

Mean

Answer

Mode

Answer

Standard Deviation

Answer

Median

Question 45

A company records the number of defective units produced per day over a week as follows: 2, 0, 1, 3, 2, 1, 4. Calculate the range of this data set.

Accepted Answer

4

Answer

3

Answer

2

Answer

1

Question 46

A distribution center analyzes the weights of incoming shipments. The standard deviation of the weights is 10 kilograms. What does this value convey about the data?

Accepted Answer

The data indicates that, on average, the weights deviate from the mean by 10 kilograms.

Answer

The most frequently occurring weight is 10 kilograms.

Answer

The difference between the highest and lowest weights is 10 kilograms.

Question 47

Two delivery routes, A and B, are being compared. Route A has an average delivery time of 2 hours with a standard deviation of 15 minutes, while Route B has an average delivery time of 2.5 hours with a standard deviation of 5 minutes. Which route exhibits higher consistency in delivery times?

Accepted Answer

Route B

Answer

The consistency cannot be determined from the provided information.

Answer

Both routes have the same level of consistency.

Answer

Route A

Question 48

A supplier's delivery lead time follows a normal distribution with a mean of 5 days and a standard deviation of 1 day. Based on this information, can you determine the probability of a delivery taking less than 4 days?

Accepted Answer

No, the probability cannot be calculated from the given information.

Answer

25%

Answer

50%

Question 49

A company assesses customer satisfaction scores on a scale of 1 to 5. Which measure of central tendency is most appropriate for indicating the typical satisfaction level?

Accepted Answer

Mean

Answer

Median

Answer

Range

Answer

Mode

Question 50

A warehouse monitors the number of orders processed per hour. From the following data collected over 8 hours: 15, 12, 18, 10, 16, 14, 13, 17, calculate the median number of orders processed.

Accepted Answer

14.5

Answer

16

Answer

15

Answer

14

Question 51

A company analyzes the inventory levels of different products. Which measure of variability is most suitable for describing the dispersion of inventory levels?

Accepted Answer

Standard Deviation

Answer

Median

Answer

Range

Answer

Mean

Question 52

A logistics company tracks the delivery times of packages, and the data exhibit a rightward skew. Which measure of central tendency is most appropriate for describing the typical delivery time in this case?

Accepted Answer

Median

Answer

Range

Answer

Mode

Answer

Mean

Question 53

A company examines the number of customer complaints received over the past year. The data indicate a gradual increase in complaints. What type of trend do these observations represent?

Accepted Answer

Upward Trend

Answer

Downward Trend

Answer

Cyclical Trend

Answer

Seasonal Trend