Question 1 The commercial loan operation of a financial institution has a standard for processing new loan applications in 24 hours. Table 1 shows the number of applications processed each day for the last 20 days and the number of applications that required more than 24 hours to complete. Table 1: Loan Application Data for Question 1 Day Applications Late Day Applications Late 1 200 3 11 219 0 2 250 4 12 238 10 3 240 2 13 250 4 4 300 5 14 302 6 5 200 2 15 219 20 6 250 4 16 246 3 7 246 3 17 251 6 8 258 5 18 273 7 9 275 2 19 245 3 10 274 1 20 260 (a) Set up the fraction nonconforming control chart for this process. Use the variable-width control limit approach. Plot the preliminary data in Table 1 on the chart. Is the process in statistical control? (b) Assume that assignable causes can be found for any out-of-control points on this chart. What center line should be used for process monitoring in the next period, and how should the control limits be calculated?
Question 1 The commercial loan operation of a financial institution has a standard for processing new loan applications in 24 hours. Table 1 shows the number of applications processed each day for the last 20 days and the number of applications that required more than 24 hours to complete. Table 1: Loan Application Data for Question 1 Day Applications Late Day Applications Late 1 200 3 11 219 0 2 250 4 12 238 10 3 240 2 13 250 4 4 300 5 14 302 6 5 200 2 15 219 20 6 250 4 16 246 3 7 246 3 17 251 6 8 258 5 18 273 7 9 275 2 19 245 3 10 274 1 20 260 (a) Set up the fraction nonconforming control chart for this process. Use the variable-width control limit approach. Plot the preliminary data in Table 1 on the chart. Is the process in statistical control? (b) Assume that assignable causes can be found for any out-of-control points on this chart. What center line should be used for process monitoring in the next period, and how should the control limits be calculated?
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.6: Rational Functions
Problem 11SC: Find the mean hourly cost when the cell phone described above is used for 240 minutes.
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Transcribed Image Text:Question 1
The commercial loan operation of a financial institution has a standard for processing new loan applications in
24 hours. Table 1 shows the number of applications processed each day for the last 20 days and the number of
applications that required more than 24 hours to complete.
Table 1: Loan Application Data for Question 1
Day Applications Late
Day Applications Late
1
200
3
11
219
0
2
250
4
12
238
10
3
240
2
13
250
4
4
300
5
14
302
6
5
200
2
15
219
20
6
250
4
16
246
3
7
246
3
17
251
6
8
258
5
18
273
7
9
275
2
19
245
3
10
274
1
20
260
(a) Set up the fraction nonconforming control chart for this process. Use the variable-width control limit
approach. Plot the preliminary data in Table 1 on the chart. Is the process in statistical control?
(b) Assume that assignable causes can be found for any out-of-control points on this chart. What center line
should be used for process monitoring in the next period, and how should the control limits be calculated?
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