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You are going to purchase a part from a specialty vendor. Your company needs a Cp of at least 1.67 on a critical dimension of the part. The dimensional specification for this part is 12.5 + .25 mm. What is the maximum process variability the vendor can allow in this dimension and meet your requirements?
A real estate agency collected the data shown below, where y = sales price of a house (in thousands of dollars) x 1 = home size (in hundreds of square f
Advantages of Sampling Why should we settle on a sample instead of studying the entire population? Sampling has the following advantages over a census (study of the entire pop
Chi Square Test as a Distributional Goodness of Fit In day-to-day decision making managers often come across situations wherein they are in a state of dilemma about the applica
This question explores the effect of estimation error on apparent arbitrage opportunities in a controlled simulation setting. We simulate returns for N = 10 assets over T = 30 year
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Correlation Analysis Correlation Analysis is performed to measure the degree of association between two variables. The measure is called coefficient of correlation. The coeffic
Statistics Can Lead to Errors The use of statistics can often lead to wrong conclusions or wrong estimates. For example, we may want to find out the average savings by i
calculate variance and standard deviation of the following sample 12,22,32,13,12,23,34,52,56,23,44,32,11,11
For the data analysis project, you will address some questions that interest you with the statistical methodology we are learning in class. You choose the questions; you decide h
the two regrassion line will pass through the point (x,y)
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