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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?

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)
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...
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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?
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