Type I error (alpha risk). After several investigations of points outside control limits revealed nothing, a manager began to wonder about the probability of a Type I error for the control limits used(z = 1.90).a. Determine the alpha risk (i.e., P [Type I error]) for this value of z.b. What z would provide an alpha risk of about 2 percent?
Type I error (alpha risk). After several investigations of points outside control limits revealed nothing, a manager began to wonder about the probability of a Type I error for the control limits used(z = 1.90).a. Determine the alpha risk (i.e., P [Type I error]) for this value of z.b. What z would provide an alpha risk of about 2 percent?
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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Type I error (alpha risk). After several investigations of points outside control limits revealed nothing, a manager began to wonder about the probability of a Type I error for the control limits used
(z = 1.90).
a. Determine the alpha risk (i.e., P [Type I error]) for this value of z.
b. What z would provide an alpha risk of about 2 percent?
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