Statistics

Solution Library


Calculate the Empirical Cost Function with Regression Analysis

Question Precision Engineering department has collected data on its average costs of production for the past 12 months. The monthly fixed cost is $4000 per month. The AVC and associated output data are presented below: Month Q     AVC $ Jan 70 375   ... Read More

Reads ( 500 )
Price: Original Price: $3.50 Now at: $2.00     Add to Cart

Calculate the Maximum and Minimum Output for Average Variable Cost

Question Precision Engineering department has collected data on its average costs of production for the past 12 months. The monthly fixed cost is $4000 per month. The AVC and associated output data are presented below:  Month Q     AVC $ Jan 70 375   ... Read More

Reads ( 484 )
Price: Original Price: $3.50 Now at: $2.00     Add to Cart

Operator Variant Variability in Gage R&R Study

Question 1. Operator variation is part of which type of variability in a Gage R&R study? a.Repeatability b. Reproducibility c. Process capability 2. Quality costs which occur after poor-quality products reach the customer are a. Prevention costs b. Appraisal costs c. Internal failur ... Read More

Reads ( 485 )
Price: Original Price: $1.50 Now at: $0.75     Add to Cart

Calculate Standard Deviation and Taguchi Loss Function for Assessing Quality

Question 1. The following sample data were collected: 11.5, 13.1, 26.2, 16.4, and 25.8. The sample standard deviation for this data is equal to 3.12 6.98 16.4 18.6 2. Given the following Taguchi Loss Function and specifications, determine the estimated loss if the quality characteristic un ... Read More

Reads ( 775 )
Price: Original Price: $1.50 Now at: $0.75     Add to Cart

Calculate Upper and Lower Level Limits for a Fraction and X-Bar Chart

Question 1.   What are the lower and upper control limits for a fraction defective (p) chart if the limits are calculated from P¯±3√P¯(1-P¯)/n and P¯= 0.1 , n = 20? 2.   A critical dimension is being measured. The overall average is 0.34 an ... Read More

Reads ( 571 )
Price: Original Price: $1.50 Now at: $0.75     Add to Cart

Statistical Control to Calculate Process Capability

Question 1. True or False: A process must be in statistical control before you can calculate the Process Capability (e.g., Cp, Cpk) 2. True or False: Control chart limits for depend on the specification limits of X. Summary These objective questions belong to Statistics and the questions ar ... Read More

Reads ( 496 )
Price: Original Price: $1.50 Now at: $0.75     Add to Cart

Point of Control in Control Chart and Six Signma in Production Process

Question 1. True or False: If a point on a control chart falls outside the control limits, the corresponding product should be scrapped. 2. True or False: Six Sigma process improvement techniques can only be applied to manufacturing processes. Summary These objective questions belong to Statisti ... Read More

Reads ( 538 )
Price: Original Price: $1.50 Now at: $0.75     Add to Cart

Calculation of Mallows' Cp and Mallows' Cpk

Question 1. If a process measurement that is in statistical control has a mean of 41.6, a long-term standard deviation of 1, and specifications at 40 +/- 6, what is the Cp of the process? 2. If a process measurement that is in statistical control has a mean of 11.2, a  ... Read More

Reads ( 646 )
Price: Original Price: $1.50 Now at: $0.75     Add to Cart

Calculate Probability of Point Falling Outside Standard Deviation 1 & 2

Question 1. Using the standard normal distribution table (Z), what is the probability that a point falls outside 1 standard deviation? 2. Using the standard normal distribution table (Z), what is the probability that a point falls outside 2 standard deviations? Summary These objective ... Read More

Reads ( 584 )
Price: Original Price: $1.50 Now at: $0.75     Add to Cart

Drawing Conclusions from Unknown Characteristics of Data

Question 1. ___________ is the process of drawing conclusions about unknown characteristics of a population from data. a. Logical inference b. Post-data inference c. Statistical inference d. Random inference 2. Suppose that a scatter diagram of two variables depicts a relationsh ... Read More

Reads ( 848 )
Price: Original Price: $1.50 Now at: $0.75     Add to Cart

Calculation Standard Deviation and Correlation

Question The standard deviation (square root of variance) of monthly changes in the spot price of jet fuel is 16.5 cents per gallon. The standard deviation of monthly changes in the futures price of crude oil is $4.5 per barrel. There are 31.5 gallons in 1 barrel. The correlation between the spot a ... Read More

Reads ( 681 )
Price: Original Price: $2.00 Now at: $1.00     Add to Cart

Calculation of Standard Deviation and Variance

Question The following table gives data on daily changes in the spot price and futures price for a certain commodity:ΔS    +5    +8    -2    +3    -5    +0    -2    +7  ... Read More

Reads ( 621 )
Price: Original Price: $2.00 Now at: $1.00     Add to Cart