The McGranger Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteensamples of five completed mortgage transactions each were taken during a period when the process was believed to bein 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. Thefollowing data were obtained for 15 samples of size 5. Based on the individual observations, management estimated theprocess standard deviation to be 3.92 (days) for use in the process capability analysis. The lower and upperspecification limits (in days) for the mortgage process times were 10 and 28.Sample 1 2Mean 15 15Range 12 15a. Calculate the process capability index and the process capability ratio values.The process capability index Cpk311645619151613 12 117 8 9 1020 19 16 1710 17 16 131119812128| 13 18 14. (Enter your response rounded to three decimal places.)O14 1517 1212 13

Process capability Index: The relationship between the length of the acceptance interval and six…

Answered: The McGranger Mortgage Company is…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Suppose you are asked to toss a coin 16 times and calculate the proportion of the tosses that were heads. a. What shape would you expect this histogram to be and why? b. Where you do expect the histogram to be centered? c. How much variability would you expect among these proportions? d. Explain why a Normal model should not be used here.
An energy company wants to choose between two regions in a state to install energy-producing wind turbines. A researcher claims that the wind speed in Region A is less than the wind speed in Region B. To test the regions, the average wind speed is calculated for 60 days in each region. The mean wind speed in Region A is 13.8 miles per hour. Assume the population standard deviation is 2.8 miles per hour. The mean wind speed in Region B is 15.1 miles per hour. Assume the population standard deviation is 3.1 miles per hour. At a = 0.05, can the company support the researcher's claim? Complete parts (a) through (d) below. C. The wind speed in Region A is not less than the wind speed in Region B. D. The wind speed in Region A is less than the wind speed in Region B. Let Region A be sample 1 and let Region B be sample 2. Identify Ho and Ha. Ho: H1 2 H2 Ha: 1 В. z C. z< - 1.645 (c) Find the standardized test statistic z. (Round to two decimal places as needed.)
Samples were collected from two ponds in the Bahamas to compare salinity values (in parts per thousand). Several samples were drawn at each site. Pond 1: 37.03, 37.45, 36.75, 37.54, 37.71, 37.02, 37.32 Pond 2: 38.89, 39.05, 38.51, 38.53, 38.71 Use a 2% significance level to test the claim that the two ponds have the same mean salinity value. Assume that nothing is known about the population distribution of salinities. (a) Enter the rank values in the same order as in the original sample. The rank values for Pond 1 are: The rank values for Pond 2 are: (b) The test statistic is: . (c) The test critical value is: . (d) The conclusion isA. There is not sufficient evidence to indicate that the two ponds have different distributions of salinity values.B. There is sufficient evidence to indicate that the two ponds have different distributions of salinity values.
An analyst found that the average amount of money in bank accounts at his/her bank is $2,000 with a standard deviation of $150. What would be the variance?
Suppose there is a city where the mean cost per month of a one-bedroom apartment is $1,500, with a standard deviation of $250. Approximately what percentage of one-bedroom apartments in the city cost between $750 and $1,000?
It costs more to produce defective items—since they must be scrapped or reworked—than it does to produce non-defective items. This simple fact suggests that manufacturers should ensure the quality of their products by perfecting their production processes instead of depending on inspection of finished products (Deming, 1986). In order to better understand a particular metal stamping process, a manufacturer wishes to estimate the mean length of items produced by the process during the past 24 hours. a. How many parts should be sampled in order to estimate the population mean to within .2 millimeter (mm) with 95% confidence? Previous studies of this machine have indicated that the standard deviation of lengths produced by the stamping operation is about 2 mm. b. Time permits the use of a sample size no larger than 225. If a 95% confidence interval for m is constructed with n = 225, will it be wider or narrower than would have been obtained using the sample size determined in part a?…
A food distribution company claims that a restaurant chain receives, on average, 26 pounds of fresh vegetables on a daily basis. The standard deviation of these shipments is known to be 4.4 pounds. The district manager of the restaurant chain decides to randomly sample 35 shipments from the company and finds a mean weight of 24.7 pounds. Test at a 3% level of significance to determine whether or not the food distribution company sends less than 26 pounds of fresh vegetables. a. Check the TWO requirements that are satisfied. The Central Limit Theorem applies. The a distribution is normal since n > 30. The a distribution is normal since the x distribution is normal. The p distribution is normal since np > 5 and nq > 5.
Consider a data set that has a mean of 16.8 and a standard deviation of 5.6. According to Chebyshev's Theorem, give an interval that has at least 93.75% of the data.

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