IASSC ICBB Exam - Topic 10 Question 52 Discussion

Actual exam question for IASSC's ICBB exam

Question #: 52
Topic #: 10

A Belt working in a supply chain environment has to make a decision to change suppliers of critical raw materials for a new product upgrade. The purchasing manager is depending on the Belt's effort requiring that the average cost of an internal critical raw material component be less than or equal to $3,600 in order to stay within budget. Using a sample of 42 first article components, a Mean of the new product upgrade price of $3,200 and a Standard Deviation of $180 was estimated. Based on the data provided, the Z value for the data assuming a Normal Distribution is?

A1.11

B2.22

C4.30

D5.42

Show Suggested Answer

Suggested Answer: A

by Earleen at Aug 10, 2023, 06:04 AM

Limited Time Offer

25%

Off

Get Premium ICBB Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Shayne

10 months ago

Agreed, we need to keep it under budget!

upvoted 0 times

...

Santos

10 months ago

Wait, how can the Z value be that high? Sounds off.

upvoted 0 times

...

Katy

10 months ago

I think it’s definitely less than 3.

upvoted 0 times

...

Brigette

10 months ago

Z value should be around 2.22, right?

upvoted 0 times

...

Pamella

11 months ago

The mean is $3,200, and the target is $3,600.

upvoted 0 times

...

Junita

11 months ago

I think the Z value is supposed to tell us how many standard deviations the mean is from the target cost. I just hope I remember the formula correctly!

upvoted 0 times

...

Wayne

11 months ago

I feel like I might be overthinking this. The Z value should be straightforward, but I can't recall if I need to adjust for the sample size.

upvoted 0 times

...

Marti

11 months ago

This seems similar to a question we did in class about supplier costs. I think I need to subtract the mean from the target cost and then divide by the standard deviation.

upvoted 0 times

...

Stanford

11 months ago

I remember we practiced calculating Z-scores, but I'm not entirely sure how to apply it with the sample size and standard deviation here.

upvoted 0 times

...

Zona

11 months ago

Configuring CodeQL scanning actions could be a good option, but I'm not sure if that's the most efficient way to handle this.

upvoted 0 times

...

Queen

12 months ago

Okay, let me see if I can break this down. The question is asking about which RSA NetWitness component handles indexing and querying of metadata. I'm leaning towards Spectrum, but I want to double-check that in my notes just to be sure.

upvoted 0 times

...

Alberta

1 year ago

I bet the answer is hidden in the secret decoder ring that came with my cereal this morning. D - 8.28, no doubt about it!

upvoted 0 times

...

Mariann

1 year ago

Seriously, who writes these exam questions? They're like trying to solve a Rubik's cube while juggling. I'm going with D - 8.28, just to mess with the graders.

upvoted 0 times

...

Tamra

1 year ago

Ah, a classic normal distribution problem. Okay, let me think this through... Yep, definitely A - 2.33. I'm feeling confident about this one.

upvoted 0 times

Cecily

1 year ago

Exactly, the Z value of -2.33 indicates that the sample mean of $3,200 is 2.33 standard deviations below the population mean of $3,600. This means the new supplier meets the budget requirements.

upvoted 0 times

...

Xuan

1 year ago

That makes sense. So in this case, the Z value would be (3200 - 3600) / 180 = -2.33. It falls within the range of -2.33 to 2.33 for a 95% confidence level.

upvoted 0 times

...