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The Money Pit Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken during a period when the process was believed to be in control. The times to complete the transactions were measured. The Money Pit 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 on the individual observations, management estimated the process standard deviation to be 4.71 (days) for use in the process capability analysis The lower and upper specification limits (in days) for the mortgage process times were 4 and 20. Sample 2 3. 4. 6 7 8. 9. 10 11 12 13 14 15 Mean 9 13 10 9 14 13 10 11 14 12 11 Range 8 11 2 9. 8. 7. 13 12 9. 3 10 8. 6. a. Calculate the process capability index and the process capability ratio values. The process capability index Cok = (Enter your response rounded to three decimal places.) The process capability ratio C, =| (Enter your response rounded to three decimal places.) %3D b. Suppose management would be happy with three-sigma performance. What conclusions is management likely to draw from the capability analysis? Since Cok is the critical value, the process capable at the three-sigma level. 264

The Money Pit Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken during a period when the process was believed to be in control. The times to complete the transactions were measured. The Money Pit 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 on the individual observations, management estimated the process standard deviation to be 4.71 (days) for use in the process capability analysis The lower and upper specification limits (in days) for the mortgage process times were 4 and 20. Sample 2 3. 4. 6 7 8. 9. 10 11 12 13 14 15 Mean 9 13 10 9 14 13 10 11 14 12 11 Range 8 11 2 9. 8. 7. 13 12 9. 3 10 8. 6. a. Calculate the process capability index and the process capability ratio values. The process capability index Cok = (Enter your response rounded to three decimal places.) The process capability ratio C, =| (Enter your response rounded to three decimal places.) %3D b. Suppose management would be happy with three-sigma performance. What conclusions is management likely to draw from the capability analysis? Since Cok is the critical value, the process capable at the three-sigma level. 264

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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a. Calculate the process capability index and the process capability ratio values. The process capability index Cok =| (Enter your response rounded to three decimal places.) The process capability ratio C,, = |- (Enter your response rounded to three decimal places.) b. Suppose management would be happy with three-sigma performance. What conclusions is management likely to draw from the capability analysis? My Solut Since Cok is V the critical value, the process capable at the three-sigma level. Since C, is V the critical value, this indicates that c. What remedial actions, if any, do you suggest that management take? My O A. Management should use a lower target process capability ratio. O B. The variability of the process must be greatly reduced. O C. The specification limits must be revised. O D. Nothing. The process is capable. Quest 底 圈 月 回 delete home backspace enter
Transcribed Image Text:a. Calculate the process capability index and the process capability ratio values. The process capability index Cok =| (Enter your response rounded to three decimal places.) The process capability ratio C,, = |- (Enter your response rounded to three decimal places.) b. Suppose management would be happy with three-sigma performance. What conclusions is management likely to draw from the capability analysis? My Solut Since Cok is V the critical value, the process capable at the three-sigma level. Since C, is V the critical value, this indicates that c. What remedial actions, if any, do you suggest that management take? My O A. Management should use a lower target process capability ratio. O B. The variability of the process must be greatly reduced. O C. The specification limits must be revised. O D. Nothing. The process is capable. Quest 底 圈 月 回 delete home backspace enter
The Money Pit Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken during a period when the process was believed to be in control. The times to complete the transactions were measured. The Money Pit 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 on the individual observations, management estimated the process standard deviation to be 4.71 (days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 4 and 20. Sample Mean Range Soluti 1 2 3. 4 6 7 8 9 10 11 12 13 14 15 8 9 5 13 10 9 14 13 10 11 14 6. 12 11 6 8 11 9 8 7 13 12 9. 3 10 8. a. Calculate the process capability index and the process capability ratio values. The process capability index Cpk =| (Enter your response rounded to three decimal places.) My The process capability ratio C, =| (Enter your response rounded to three decimal places.) %3D b. Suppose management would be happy with three-sigma performance. What conclusions is management likely to draw from the capability analysis? Since Cok is est v the critical value, the process V capable at the three-sigma level. @ 月 回 nsert delete home backspace
Transcribed Image Text:The Money Pit Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken during a period when the process was believed to be in control. The times to complete the transactions were measured. The Money Pit 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 on the individual observations, management estimated the process standard deviation to be 4.71 (days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 4 and 20. Sample Mean Range Soluti 1 2 3. 4 6 7 8 9 10 11 12 13 14 15 8 9 5 13 10 9 14 13 10 11 14 6. 12 11 6 8 11 9 8 7 13 12 9. 3 10 8. a. Calculate the process capability index and the process capability ratio values. The process capability index Cpk =| (Enter your response rounded to three decimal places.) My The process capability ratio C, =| (Enter your response rounded to three decimal places.) %3D b. Suppose management would be happy with three-sigma performance. What conclusions is management likely to draw from the capability analysis? Since Cok is est v the critical value, the process V capable at the three-sigma level. @ 月 回 nsert delete home backspace
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