Calculate the average number of defects per basket

Assignment Help Finance Basics
Reference no: EM13521491

1.What do the terms producer's risk and consumer's risk mean? 

2.A local manufacturer supplies you with parts, and you would like to install a quality monitoring system at his factory for these parts. Historically, the defect rate for these parts has been 1.25 percent (You've observed this from your acceptance sampling procedures, which you would like to discontinue). Develop ± 3σ control limits for this process. Assume the sample size will be 200 items.

3.Repeated sampling of a certain process shows the average of all sample ranges to be 1.0 cm. The sample size has been constant at n = 5. What are the 3-sigma control limits for this R-chart? 

4. A woodworker is concerned about the quality of the finished appearance of her work. In sampling units of a split-willow hand-woven basket, she has found the following number of finish defects in ten units sampled: 4, 0, 3, 1, 2, 0, 1, 2, 0, 2.

a. Calculate the average number of defects per basket

b. If 3-sigma control limits are used, calculate the lower control limit, centerline, and upper control limit.

5.The width of a bronze bar is intended to be one-eighth of an inch (0.125 inches). Inspection samples contain five bars each. The average range of these samples is 0.01 inches. What are the upper and lower control limits for the X-bar and R-chart for this process, using 3-sigma limits? 

Reference no: EM13521491

Questions Cloud

Find the volume of the atom : The nucleus of the hydrogen atom has a radius of about 1.1 x 10-15 m. The electron is at a distance of about 5.2 x 10-11 m from the nucleus. find the volume of the atom
How many times would this fully insured person visit the : Suppose that an individual's demand for the number of physician visits per year, Q, can be represented by the following equation: Q = 50-0.4 P, where P, the market price of an office visit, equals physician's constant marginal cost of $110. Determine..
Prepare a targeted plan in which you present your detailed : Prepare a targeted plan in which you present your detailed strategies to recruit and select 20 Engineers to hire (full-time or part-time) within 8 months. Focus on job-relatedness. What are the qualifications of a trained Mechanical Engineer?
Find the possible prices of the call at the end of the first : Consider a two-period, two-state world. Let the current stock price be $35 and the risk-free rate be 5%. In each period, the stock price can either go up or down by 10%. A call option expiring at the end of the second period has an exercise price of ..
Calculate the average number of defects per basket : A woodworker is concerned about the quality of the finished appearance of her work. In sampling units of a split-willow hand-woven basket, she has found the following number of finish defects in ten units sampled: 4, 0, 3, 1, 2, 0, 1, 2, 0, 2.
Describe an informal learning experience : Describe an informal learning experience someone could have.
Explain the role of hormones across multiple motivation syst : 1. Explain the role of hormones across multiple motivation systems. Include in your answer (but do not limit to): sex differences, action patterns and implications for human applications.
Define consumer risk. how does it relate to the errors of : Define consumer's risk. How does it relate to the errors of hypothesis testing? What is the symbol for its value?
What does it mean for a process to be capable : A process is operating in such a manner that the mean of the process is exactly on the lower specification limit. What must be true about the two measures of capability for this process?

Reviews

Write a Review

Finance Basics Questions & Answers

  Calculate the breakeven level of ebit

At what level of EBIT will APC shareholders earn zero EPS, under the current and the proposed capital structures?

  What will be the value of the equity

What will be the value of the equity if the firm repurchases all of its debt and raises the funds to do this by issuing equity? Assume that all of the assumptions in Modigliani and Miller's Proposition 1 hold.

  International real estate industry

Please give a brief explanation of how the following international risk factors affect United States REAL ESTATE INDUSTRY:

  Why you think that they didnot follow this principle

If so, what are/were they? Please share with the class what they are/were and why you think that they didn't follow this principle.

  What long position in the stock is necessary to hedge

What long position in the stock is necessary to hedge a short call option when the strike price is $32? Give the number of shares purchased as a percentage of the number of options that have been sold.

  Capital expenditure decisions

Determine the investment's net present value, the internal rate of return, payback period and the discounted payback period. All key assumptions should be specified and explained and an interpretation provided of results for each of the investment cr..

  Calculating financial ratios

Just Dew It Corporation reports the following balance sheet data for 2004 and 2005. Based on the given balance sheets, calculate the following financial ratios for every year. Negative amount should be indicated by a minus sign.

  Distribution and concentration of production

Why do exchange rate changes bring feast or famine for Volvo, but neither feast nor famine for Ford? Consider the distribution and concentration of their production facilities worldwide.

  Create a new firm that specializes in electric cars

An entrepreneur that would like to create a new firm that specializes in electric cars. Your plan is to fund this new business by selling ownership in the business. That is, your firm will be all equity - you have no intention of issuing any de..

  Two constant growth stocks are in equilibrium have the same

two constant growth stocks are in equilibrium have the same price and have the same required rate of return. which of

  What is the approximate real rate of interest

Treasury bills are currently paying 6 percent and the inflation rate is 2.60 percent.

  Draw a yield curve based on these data

Assuming a real risk-free rate of 2% and a maturity risk premium that equals 0.1 x (t)% where t is the number of years to maturity, estimate the interest rate in January 1981 on bonds that mature in 1, 2, 5, 10 and 20 years. Draw a yield curve bas..

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!

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