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Components used in a digital SLR camera are manufactured with nominal dimension of 0.3 mm and lower and upper specification limits of 0.295 mm and 0.305 mm respectively. The x- and R control charts for this process are based on subgroups of size 5 and they exhibit statistical control, with the center line on the x- chart at 0.3020 mm and the center line on the R chart at 0.00144 mm. Estimate the mean and standard deviation of this process. Suppose that parts below the lower specification limits can be reworked, but parts above the upper specification limit must be scrapped. Estimate the proportion of scrap and rework produced by this process. Suppose that the mean of this process can be reset by fairly simple adjustments. What value of the process mean would you recommend? Estimate the proportion of scrap and rework produced by the process at this new mean.
Your objective is to maximize the expected utility of your final fortune (after 4 bets). If you are a log-utility investor, determine the optimal policy and find the maximal expected utility.
A certain type of lightbulb has an average life of 500 hours with a standard deviation of 100 hours. The length of life of the bulb can be closely approximated by a normal curve.
Consider the following properties of real numbers: Commutative Property of Addition [6] Commutative Property of Multiplication
Compute the mean, median, mode and standard deviation for the following discrete probability distribution.
mean is calculated for each sample, then the average distance between M and u would be:
urn a has 12 white and 16 red balls. urn b has 3 white and 8 red balls. we flip a fair coin. if the oucome is heads
According to Central Limit Theorem, how big of sample is essential to be sure sampling distribution of sample means is normally distributed.
Complete the test at the 5% level of significance.
Using z-scores, a population with m = 37 and s = 6 is standardized so that the new mean is m = 50 and s = 10. How does an individual's z-score in the new distribution compare with his/her z-score in the original population?
a loan officer at a bank rates applicants for credit. ratings are normally distributed. the mean is 240 and the
suzy senior sales analyst hired by the dealership wants to reassess risks. she assumes that a number of cards sold by
a box of 7 usb flash drives contains 3 defective flash drives. a random sample of 2 is selected and tested. let x be
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