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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 means and ranges of the mortgage process transaction times, measured in days, are as follows: Sample Mean Range 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 14 11 5 14 9 9 12 13 10 11 14 6 8 6 9 6 10 3 7 8 12 11 14 9 9 10 5 8 10 12 Subsequently, samples of size 5 were taken from the process every week for the next 10 weeks. The times were measured and the following results obtained. Sample 16 Mean 17 18 19 20 21 22 23 24 25 9 11 6 12 14 16 10 19 17 15 Range 7 10 5 3 11 12 10 9 5 Click the icon to view the table of factors for calculating three-sigma limits for the x-chart and R-char a. Construct the control charts for the mean and the range, using the original 15 samples. Set up the R-chart by specifying the center line and three-sigma control limits below. (Enter your responses rounded to two decimal places.)

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 means and ranges of the mortgage process transaction times, measured in days, are as follows: Sample Mean Range 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 14 11 5 14 9 9 12 13 10 11 14 6 8 6 9 6 10 3 7 8 12 11 14 9 9 10 5 8 10 12 Subsequently, samples of size 5 were taken from the process every week for the next 10 weeks. The times were measured and the following results obtained. Sample 16 Mean 17 18 19 20 21 22 23 24 25 9 11 6 12 14 16 10 19 17 15 Range 7 10 5 3 11 12 10 9 5 Click the icon to view the table of factors for calculating three-sigma limits for the x-chart and R-char a. Construct the control charts for the mean and the range, using the original 15 samples. Set up the R-chart by specifying the center line and three-sigma control limits below. (Enter your responses rounded to two decimal places.)

Practical Management Science
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 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 means and ranges of the mortgage process transaction times, measured in days, are as follows: Sample Mean Range 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 14 11 5 14 9 9 12 13 10 11 14 6 8 6 9 6 10 3 7 8 12 11 14 9 9 10 5 8 10 12 Subsequently, samples of size 5 were taken from the process every week for the next 10 weeks. The times were measured and the following results obtained. Sample 16 Mean 17 18 19 20 21 22 23 24 25 9 11 6 12 14 16 10 19 17 15 Range 7 10 5 3 11 12 10 9 5 Click the icon to view the table of factors for calculating three-sigma limits for the x-chart and R-char a. Construct the control charts for the mean and the range, using the original 15 samples. Set up the R-chart by specifying the center line and three-sigma control limits below. (Enter your responses rounded to two decimal places.)
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 means and ranges of the mortgage process transaction times, measured in days, are as follows: Sample Mean Range 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 14 11 5 14 9 9 12 13 10 11 14 6 8 6 9 6 10 3 7 8 12 11 14 9 9 10 5 8 10 12 Subsequently, samples of size 5 were taken from the process every week for the next 10 weeks. The times were measured and the following results obtained. Sample 16 Mean 17 18 19 20 21 22 23 24 25 9 11 6 12 14 16 10 19 17 15 Range 7 10 5 3 11 12 10 9 5 Click the icon to view the table of factors for calculating three-sigma limits for the x-chart and R-char a. Construct the control charts for the mean and the range, using the original 15 samples. Set up the R-chart by specifying the center line and three-sigma control limits below. (Enter your responses rounded to two decimal places.)
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