The McGranger Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken duringa period when the process was believed to be in control. The times to complete the transactions were measured.The McGranger Mortgage Company made some changes to the process and undertook a process capability study. The following data were obtained for 15 samples of size 5. Based onthe individual observations, management estimated the process standard deviation to be 3.21 (days) for use in the process capability analysis. The lower and upper specification limits (indays) for the mortgage process times were 2 and 17.8SampleMean2346.710111213141595131081413101115612116Range9123109971413104511910a. Calculate the process capability index and the process capability ratio values.The process capability index C,nk = .727. (Enter your response rounded to three decimal places.)The process capability ratio C, = (Enter your response rounded to three decimal places.)

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Answered: The McGranger Mortgage Company is…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The Digital Guardian Company issues policies that protect clients from downtime costs due to computer system failures. It is very important to process the policies quickly because long cycle times not only put the client at risk, they could also lose business for Digital Guardian. Management is concerned that customer service is degrading because of long cycle times, measured in days. The table contains the data from five samples, each sample consisting of eight random observations. 9 Click the icon to view the table with sample data. Click the icon to view the table of factors for calculating three-sigma limits for the x-chart and R-chart. a. What is your estimate of the process average? The estimate of the process average is (Enter your response rounded to two decimal places.)
Control limits for anx−Chart have been determined as: UCLx= 56.4 and LCLx= 53.2 Sample averages for the most recent five samples, in sequential order, are 53.7, 53.8,54.7, 55.4, and 56.3. What should be concluded about the process average? Shouldsome action be taken? Why or why not?
Twenty samples of 100 items each were inspected when a process was considered to be operating satisfactorily. In the 20 samples, a total of 140 items were found to be defective. (a) What is an estimate of the proportion defective when the process is in control? (b) What is the standard error of the proportion if samples of size 100 will be used for statistical process control? (Round your answer to four decimal places.) (c) Compute the upper and lower control limits for the control chart. (Round your answers to four decimal places.) UCL = LCL =
A process that is assumed to be in control with limits of 88 ±4 had sample averages for the x-bar chart of the following: 87.1,87, 87.2, 89, 90, 88.5, 89.5, and 88. Which of the following statement below are correct? a. Process mean is out-of-control b. Not enough information to determine С. Process mean is NOT out-of-control O d. None is correct
Consider a process with lower process control limit as 1.338 and upper process control limit as 1.342 . The lower specification limit is 1.335 and the upper specification limit is 1.345. Utilizing the information provided, is the process is capable of meeting design specifications?
A weighing process has an upper specification of 1.751 grams and a lower specification of 1.632 grams. A sample of parts had a mean of 1.7 grams with a standard deviaiton of 0.023 grams. Round your answer to four decimal places. What is the process capability index for this system?
Meena Chavan Corp.'s computer chip productionprocess yields DRAM chips with an average life of 1,800 hoursand cr = I 00 hours. The tolerance upper and lower specificationlimits are 2,400 hours and 1,600 hours, respectively. Is this processcapable of producing DRAM chips to specification?
What is the significance of the order of observation in process control?
Product specifications at a local Metalwork company are 1000 ± 0.040. currently, the process is performing at a grand average of 1000 with a standard deviation of 0.010. a). Calculate the process capability ratio and index. b). Is the process capable? Justify your answer.
Hi, I need help solving for part A. Thank you! (Note: Table S6.1 is shown in the 'Definition' box popup.)
A manager wishes to build a control chart for a process. A total of hve (05) samples are collected with six x(06) observations within each sampleThe sample means (X-bar) are15.36, 14.61, 16.36, 20.28and 15.77 respectively. Also, the corresponding ranges are 8, 37, 4.81, 8.17 and 3.31 respectivelyThe lower and upper control limits of the x-bar chart are respectively
In a fabric manufacturing factory, the quality control process using control charts from SPC. In an hour there are a total of 5 samples are taken each having 6 observations regarding the thickness of fabric in measured in millimeters. In a particular hour, the sample means (X-bar) are noted to be: 156.46, 199.62, 189.31, 102.22, and112.09 respectively. In the same sample, the corresponding ranges are: 11.97, 12.17, 13.94, 11.86, and 11.83 respectively. What are the lower and upper control limits for the X-bar chart? O a. None is correct O b. 146.01, 157.87 Oc. 142.92, 160.66 Od. 143.55, 165.47 Oe. 156.55, 170.47 Of. 144.78, 159.11

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