User Account

All Pages

STATISTICS, Applied Statistics

Assignment Help:
Ask 3. Precision Manufacturing has a government contract to produce stainless steel rods for use in military aircraft. Each rod is required to be 20 millimeters in diameter. Each hour, random samples of size n = 4 rods are measured to check process control. Five hours of observations yielded the following:

Diameter
Time Rod 1 Rod 2 Rod 3 Rod 4
9 A.M. 19.8 20.4 19.9 20.3
10 A.M. 20.1 20.2 19.9 19.8
11 A.M. 19.9 20.5 20.3 20.1
Noon 19.7 19.8 20.3 20.2
1 P.M. 19.7 20.1 19.9 19.9

Construct the xbar-chart and the R-chart.
Is the process in control?

4. Modern Electronics specializes in manufacturing modern electronic components. It also builds the equipment that produces the components. Modern Electronics is considering building a new facility but the estimated profits would be impacted by the type of market that develops. The probability for a strong market is 0.3; for a fair market is 0.5; and for a poor market is 0.2. You are responsible for advising the president of Modern Electronics on the type facility that should be built or to not build a facility at all. The table shows the estimated profits under each market and for each size facility.

Estimated Profits
Strong Market Fair Market Poor Market
Build a large facility 550,000 110,000 -310,000
Build a medium-size facility 300,000 129,000 -100,000
Build a small facility 200,000 100,000 -32,000
Do not build a facility 0 0 0

Provide a recommendation to the president that maximizes profits
Provide a second recommendation to the president that minimizes regret.

5. Consulting income at Kaplan Associates for the period February – July is shown in the table below. Assume that the initial forecast for February is $65,000. Use Exponential smoothing to forecast August’s income.

Month Income ($1,000)
February 70.0
March 68.5
April 64.8
May 71.7
June 71.3
July 72.8

Use a smoothing constant of a = 0.2.
Use a smoothing constant of a = 0.5.
Which forecasting constant is best in this situation?
question #Minimum 100 words accepted#

Related Discussions:- STATISTICS

JET Copies Case Problem, Read the “JET Copies” Case Problem on pages 678-67...

Read the “JET Copies” Case Problem on pages 678-679 of the text. Using simulation estimate the loss of revenue due to copier breakdown for one year, as follows: 1. In Excel, use a

Standard cost method, Under the standard cost method which is also referred...

Under the standard cost method which is also referred as the standard cost method ,stock receipts are assigned a standard cost. Any variations between the actual cost and standard

Regression, why we use dummy variable

why we use dummy variable

Rank correlation, Rank Correlation Sometimes the characteristics whose ...

Rank Correlation Sometimes the characteristics whose possible correlation is being investigated, cannot be measured but individuals can only be ranked on the basis of the chara

Transformation of data, PCA is a linear transformation that transforms the ...

PCA is a linear transformation that transforms the data to a new coordinate system such that the greatest variance by any projection of the data comes to lie on the first coordinat

Carry out a t-test, Suppose that before the minimum wage law change, the un...

Suppose that before the minimum wage law change, the underlying mean number of part-time employees per Burger King Restaurant in New Jersey was 20.3. It was thought that the increa

Business reporting and analysis, You are a business analyst working for a c...

You are a business analyst working for a company called Combined Computers Pty Ltd. You have been asked to prepare a business report with statistics in it for the managing director

Define the term multicollinearity, Question: (a) (i) Define the term ...

Question: (a) (i) Define the term multicollinearity. (ii) Explain why it is important to guard against multicollinearity. (b) (i) Sometimes we encounter missing values

Characteristics of index number, Characteristics of Index Number  On th...

Characteristics of Index Number  On the analysis of various definitions of index number the following may be its characteristics: 1.      Expressed in Number : Index number

Simple random sampling, Simple Random Sampling In Simple Random Sampli...

Simple Random Sampling In Simple Random Sampling each possible sample has an equal chance of being selected. Further, each item in the entire population also has an equal chan

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd