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Question: A local supermarket knows that, on average, it receives 12 customer complaints a day about poor quality service, damaged goods and so on. The standard deviation around this average is 5. The supermarket manager wants to set up a control chart to monitor this aspect of performance, with results compiled for each two-week period (the store is open seven days a week).Calculate warning and action limits for this situation.
The first seven sets of results are:
13.4, 11.3, 14.2, 12.5, 11.1, 10.7, 9.5
Comment on the store's performance in this context.
Fidelity Investments' February 2007 prospectus compares the value of $10,000 invested in the S&P 500 versus its value invested in Fidelity's.
The steps to perform that is to first compute the z-score in the original scale, and then transform it using the formula transform Standard Score.
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What advantage does correlation have over a cross-tab?
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Describe an auto transformer starter
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for a parallel structure of identical components the system can succeed if at least one of the components succeeds.
This sample has a mean weight of 5.03 Kg and a standard deviation of 0.21 Kg. Can we calculate that the mean weight produced by the machine has increased? Use 5% level of significance.
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