ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- A film processing service monitors the quality of the developing process with light-sensitive equipment. The accuracy measure is a number with a target value of zero. Suppose that an X- chart with subgroups of size five is used to monitor the process and the control limits are UCL = 1.5 and LCL = -1.5. Assume that the estimate for the process mean is zero and for the process standard deviation is 1.30.a. What is the value of α for this control chart?b. Find the UCL and LCL based on three-sigma limits.c. Suppose that the process mean shifts to 1. What is the probability that the shift is detected on the first subgroup after the shift occurs?arrow_forwardScenario 38-5. Researchers are interested in the height of the average person in San Francisco, California. Using a random sample of 1,000 people, they find that the average height in the sample is 68 inches. (Hint: Be sure to calculate the Refer to Scenario 38-5. If the standard deviation of heights is 3 inches, we can be 95% confident that the true mean height of the population is between standard error of the estimate.) O O O O between 67.997 inches and 68.003 inches. between 67.905 inches and 68.095 inches. between 67.905 inches and 68 inches. between 68 inches and 68.095 inches.arrow_forwardAssume that you are working for the Consumer Protection Agency and have recently been getting complaints about the highway gas mileage of the new Dodge Caravans. Chrysler Corporation agrees to allow you to randomly select 40 of its new Dodge Caravans to test the highway mileage. Chrysler claims that the Caravans get 28 mpg on the highway. Your results show a mean of 26.7 and a standard deviation of 4.2. You support Chrysler’s claim. 1. Show whether or not you support Chrysler’s claim by listing the P-value from your output.After more complaints, you decide to test the variability of the miles per gallon on the highway. From further questioning of Chrysler’s quality control engineers, you find they areclaiming a standard deviation of no more than 2.1. Use a one-tailed test.2. Test the claim about the standard deviation.3. Write a short summary of your results and any necessary action that Chrysler must take toremedy customer complaints.4. State your position about the necessity to…arrow_forward
- please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearlyarrow_forwardThe primary difference(s) between the standard deviation and the coefficient of variation as measures of risk are:arrow_forwardGiven a sample with a mean of 151 and a standard deviation of 27, find the probability that a randomly selected value from the sample will be less than 187.0. Round your answer to 3 decimal places, e.g. 0.194. Pr(X < 187.0)arrow_forward
- Question 3 Saved 4) Listen A customer service team receives an average of 376 emails every day. Assume that the standard deviation for the number of emails is 96 emails. A random sample of 40 days was selected. a. What is the expected value of the sample mean? b. What is the standard deviation of the sample mean? Round your answer to two decimal places (e.g. 2.12). c. What is the probability that the average number of emails received was between 360 and 372? Round your answer to two decimal places with a leading zero (e.g. 0.18).arrow_forward15 Demand for residential electricity at a certain time period in Hamilton County is normally distributed with a mean of μ = 5595 megawatts (MW) and a standard deviation of σ = 405 MW Due to scheduled maintenance and unexpected system failures in a generating station, the utility company can supply a maximum of x = 6200 MW The probability that the utility will have to purchase electricity from other utilities or allow brownouts is ______. 0.0974 0.0811 0.0676 0.0563arrow_forwardSuppose the amount of change IWU students carry is exponentially distributed with a mean of $0.88. Suppose that we randomly pick 25 IWU students and learn how much change they have. What type of distribution does the population, which is the change carried by IWU students, follow? What are the mean and standard deviation of the population? (6 points) What type of distribution does the sample mean follow? What are the mean and standard deviation of the sample mean? (6 points) Find the probability that the average change of 25 IWU students was between $0.80 and $1.00. Graph the situation, shade in the area to be determined, and find the probability. (6 points)arrow_forward
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