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How to conduct an analysis of clients insurability

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Reference no: EM132474488

As part of an insurance company's training program, participants learn how to conduct an analysis of clients' insurability. The goal is to have participants achieve a time in the range of 30 to 45 minutes. Test results for three participants were: Armand, a mean of 37.0 minutes and a standard deviation of 3.0 minutes; Jerry, a mean of 37.0 minutes and a standard deviation of 3.0 minutes; and Melissa, a mean of 37.5 minutes and a standard deviation of 3.1 minutes.

a. What is the Cpk for Armand and Jerry and what is the Cp for Melissa? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Armand Cpk:

Jerry Cpk:

MelissaCp:

b. Can the value of the Cpk exceed the value of Cp for a given participant?

  • Yes
  • No

Reference no: EM132474488

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