The target value determined for the target value with an annual production of 50,000 pieces is 10, the tolerance is = 0.10, the cost incurred for the outside of the tolerances is $4, the estimated average from the sampling is 9.95 and the standard deviation is 0.05. If the process, improvements can be made with an annual cost of $10,000 and the average and standard deviation values after improvement are observed as 10.01 and 0.035, respectively; What is the total cost after improvement?

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
Question

6

The target value determined for the target value with an annual production of 50,000 pieces
is 10, the tolerance is = 0.10, the cost incurred for the outside of the tolerances is $4, the
estimated average from the sampling is 9.95 and the standard deviation is 0.05. If the
process, improvements can be made with an annual cost of $10,000 and the average and
standard deviation values after improvement are observed as 10.01 and 0.035, respectively;
What is the total cost after improvement?
Transcribed Image Text:The target value determined for the target value with an annual production of 50,000 pieces is 10, the tolerance is = 0.10, the cost incurred for the outside of the tolerances is $4, the estimated average from the sampling is 9.95 and the standard deviation is 0.05. If the process, improvements can be made with an annual cost of $10,000 and the average and standard deviation values after improvement are observed as 10.01 and 0.035, respectively; What is the total cost after improvement?
Expert Solution
steps

Step by step

Solved in 3 steps with 26 images

Blurred answer
Similar questions
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON