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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?
Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
Types of cost-reimbursable contracts are: Cost Plus Fixed Fee contract (CPPF): Compensation is based on a fixed sum independent of the final project cost. The customer a
Problem : A company supplying electrical products, places a rush order for electric wires. Consignments of wires are to be sent immediately when they are available. Previous
Cluster Analysis could be also represented more formally as optimization procedure, which tries to minimize the Residual Sum of Squares objective function: where μ(ωk) - is a centr
Pattie-Lynn's utility function for total assets is, in which A represents total assets in thousands of dollars. (a) Graph Pattie-Lynn's utility function. How would y
Theories of Business forecasting
A marketing research firm was engaged by an automobile manufacturer to conduct a pilot study to examine the feasibility of using logistic regression for ascertaining the likelihood
Cause and Effect Even a highly significant correlation does not necessarily mean that a cause and effect relationship exists between the two variables. Thus, correlation does
Main stages of Statistical Inquiry The following are the various stages of a statistical inquiry (1) Planning the Inquiry: First of all we have to assess the problem und
(a) At a stream gauging station, the following discharges and stage measurements were taken for the purpose of the rating curve at that section: Stage (m) 1
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