TPC Company produces paint in cans. They have found that in 9 samples of 7 cans each, the average can contains 2.05 liters of paint. The average range found over these samples is 0.24 liters. Find the control limits for X-bar and range charts.
TPC Company produces paint in cans. They have found that in 9 samples of 7 cans each, the average can contains 2.05 liters of paint. The average range found over these samples is 0.24 liters. Find the control limits for X-bar and range charts.
b. XYZ company produces staplers and other items. The production cost per unit is $8 and the cost of setting up the production line for this is $60. The annual holding cost rate is 30%. The company works 250 days per year. The production rate for this product is 120 per day. If the annual demand is 20,000 units,
i. Which batch size should the company use?
ii. What is the minimum monthly cost?
iii. What is the total production time allocated to this product annually?
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