Percent of the time the sample averages will fall inside

Assignment Help Finance Basics
Reference no: EM13519504

FILL-IN-THE-BLANK 

1._____________ is variation in a production process that can be traced to specific causes. 

2.The _________ is the chief way to control attributes. 

3.If a process has only natural variations, _________ percent of the time the sample averages will fall inside the ± 3σ  n (or ± 3σ x ) control limits. 

4.The _________ is a quality control chart that indicates when changes occur in the central tendency of a production process. x-bar chart 

5.The _________ are calculated to show how much allowance should be made for natural variation. 

6.The _________ is a quality control chart used to control the number of defects per unit of output. 

7.The term _________ is used to describe how well a process makes units within design specifications (or tolerances). process capability

8.A Cpk index greater than _________ is a capable process, one that generates fewer than 2.7 defects per 1000 at the ± 3σ level. unity, or 1  

9.___________ is a method of measuring samples of lots or batches of product against predetermined standards. Acceptance sampling 

10.A(n) _____________ is a graph that describes how well an acceptance plan discriminates between good and bad lots. OC or operating characteristics curve 

11.The __________ is the poorest level of quality that we are willing to accept. 

12.The ____________ is the percent defective in an average lot of goods inspected through acceptance sampling. AOQ or average outgoing quality

Reference no: EM13519504

Questions Cloud

In the republic-socrates agrees with thrasymachus : In The Republic, Socrates agrees with Thrasymachus that justice is the advantage of the stronger. Socrates thought the key to ethical conduct was leading "the examined life" because (Points : 1) we often overestimate the extent of our own wisdom
Suffering-buddhism vs. christianity : Suffering: Buddhism vs. Christianity
Augustine believes corruptible objects : Augustine believes corruptible objects? Two traits of God concerned by the problem of evil are? What does Nietzsche mean when he said “God is dead”?
Analyze the economic feasibility of building the railroad : Analyze the economic feasibility of building the railroad, and outline arguments the company could present to the municipal town councils, the territorial government and the federal government in order to acquire permission to build the railroad and ..
Percent of the time the sample averages will fall inside : If a process has only natural variations, _________ percent of the time the sample averages will fall inside the ± 3σ  n (or ± 3σ x ) control limits.
What is the mean of the sampling distribution : Jars of pickles are sampled and weighed. Sample measures are plotted on control charts. The ideal weight should be precisely 11 oz. Which type of chart(s) would you recommend?
The statistical definition of six sigma allows : The statistical definition of Six Sigma allows for 3.4 defects per million. This is achieved by a Cpk index of
Regarding the average outgoing quality level : Which of the following statements about acceptance sampling is true
Acceptance sampling accepts or rejects an entire lot based : In acceptance sampling, a manager can reach the wrong conclusion if the sample is not representative of the population it was drawn from.

Reviews

Write a Review

Finance Basics Questions & Answers

  By how much would inventories decline

The firm's new CFO believes that the company could reduce its inventory enough to reduce its ICP to the benchmarks' average. If this were done, by how much would inventories decline? Use a 365-day year.

  Find the missing amounts for companies

Find the missing amounts for companies A, B, and C. And make the journal entries necessary to record the following eight transactions.

  Compute the cost of retained earnings

Compute the cost of retained earnings (Ke). Using this formula: Ke(Cost of common equity in the form of retained earnings).

  What is tishs allowable 2013 sec 179 expense on the machine

in july 2013 tish acquires and places in service a business machine costing 450000 with a 7-year macrs recovery period.

  Determine length of the inventory period

The Corner Market has sales of 898,000 and a cost of goods sold equal to 70 percent of sales. The beginning inventory is 64,000 and the ending inventory is 71,000.

  What does the correlation between the returns imply

compute the average, variance, standard deviation, and correlation between the returns for these stocks. What does the correlation between the returns imply for a portfolio containing both stocks?

  Discuss some benefits and pitfalls of global investing

Discuss some benefits and pitfalls of global investing.

  Which is riskier to the company

Is the agreement between the company and its investment banker an example of a negotiated or a best-efforts deal? Why? Which is riskier to the company? Why?

  What 3 items of important information does the income

What 3 items of important information does the income statement reveal about the financial performance of the company over the last three years?

  What is the value of these bonds

Ten-year zero coupon bonds issued by the U.S. Treasury have a face value of $1,000 and interest is compounded semiannually. If similar bonds in the market yield 11.05 percent, what is the value of these bonds?

  Many corporate acquisitions result in losses to the

many corporate acquisitions result in losses to the acquiring firms stockholders. a coworker has asked you to explain

  What is the justification for the irs position

When does the IRS consider a transaction to be non-taxable to the target firm's shareholders? What is the justification for the IRS' position?

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