Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 16, Problem 44PS
a.
To determine
Determine whether the revenues for toys are subject to seasonal variation or not.
b.
To determine
Does plot of data support answer given in part (a).
c.
To determine
Determine the exponential trend forecasting equation.
d.
To determine
Determine and interpret the monthly compound growth rate.
e.
To determine
Determine and interpret the quarterly multipliers.
f.
To determine
Determine the forecasts from the second quarter of 2017 to fourth quarter of 2018.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Table 5: Measurement Data for Question 9
Part Number
Op-1, M-1
Op-1, M-2 | Op-2, M-1 Op-2, M-2 | Op-3, M-1
Op-3, M-2
1
21
20
20
20
19
21
2
24
23
24
24
23
24
3
4
5
6
7
8
9
10
11
21
12
8222332
201
21
20
22
20
22
27
27
28
26
27
28
19
18
19
21
24
21
22
19
17
18
24
23
25
25
23
26
20
20
18
19
17
13
23
25
25
2 3 3 3 3 2 3
18
18
21
21
23
22
24
22
20
19
23
24
25
24
20
21
19
18
25
25
14
24
24
23
25
24
15
29
30
30
28
31
16
26
26
25
26
25
17
20
20
19
20
20
843882388
20
18
25
20
19
25
25
30
27
20
18
19
21
19
19
21
23
19
25
26
25
24
25
25
20
19
19
18
17
19
17
Question 9
A measurement systems experiment involving 20 parts, three operators (Op-1, Op-2, Op-3), and two measure-
ments (M-1, M-2) per part is shown in Table 5.
(a) Estimate the repeatability and reproducibility of the gauge.
(b) What is the estimate of total gauge variability?"
(c) If the product specifications are at LSL = 6 and USL 60, what can you say about gauge capability?
Question 5
A fraction nonconforming control chart with center line 0.10, UCL = 0.19, and LCL = 0.01 is used to control a
process.
(a) If three-sigma limits are used, find the sample size for the control charte
2
(b) Use the Poisson approximation to the binomial to find the probability of type I error.
(c) Use the Poisson approximation to the binomial to find the probability of type II error if the process fraction
defective is actually p = 0.20.
Question 8
Ten parts are measured three times by the same operator in a gauge capability study. The data are shown in
Table 4.
(a) Describe the measurement error that results from the use of this gauge. I
(b) Estimate total variability and product variability.
(c) What percentage of total variability is due to the gauge?
(d) If specifications on the part are at 100±15, find the P/T ratio for this gauge. Comment on the adequacy
of the gauge.
3
Table 4: Measurement Data for Question 8
Part Number Measurement 1 Measurement 2 Measurement 3
1
2
100
95
101
100
93
97
3
101
103
100
4
96
95
97
5
98
98
96
6
99
98
98
7889
95
97
98
100
99
98
100
100
97
10
100
98
98
99
Chapter 16 Solutions
Basic Business Statistics, Student Value Edition
Ch. 16 - If you are using exponential smoothing for...Ch. 16 - Consider a nine-year moving average used to smooth...Ch. 16 - You are using exponential smoothing on an annual...Ch. 16 - Prob. 4PSCh. 16 - Prob. 5PSCh. 16 - How have stocks performed in the past? The...Ch. 16 - Prob. 7PSCh. 16 - Prob. 8PSCh. 16 - Prob. 9PSCh. 16 - Prob. 10PS
Ch. 16 - The linear trend forecasting equation for an...Ch. 16 - There has been much publicity about bounces paid...Ch. 16 - Prob. 13PSCh. 16 - Prob. 14PSCh. 16 - Prob. 15PSCh. 16 - The data shown in the following table and stored...Ch. 16 - Prob. 17PSCh. 16 - Prob. 18PSCh. 16 - Prob. 19PSCh. 16 - Prob. 20PSCh. 16 - Prob. 21PSCh. 16 - Prob. 22PSCh. 16 - You are given an annual time series with 40...Ch. 16 - Prob. 24PSCh. 16 - Prob. 25PSCh. 16 - Prob. 26PSCh. 16 - Prob. 27PSCh. 16 - Prob. 28PSCh. 16 - Prob. 29PSCh. 16 - Using the average baseball salary from 200 through...Ch. 16 - Using the yearly amount of solar power generated...Ch. 16 - The following residuals are from a linear trend...Ch. 16 - Prob. 33PSCh. 16 - Prob. 34PSCh. 16 - Prob. 35PSCh. 16 - Prob. 36PSCh. 16 - Prob. 37PSCh. 16 - Prob. 38PSCh. 16 - Prob. 39PSCh. 16 - Prob. 40PSCh. 16 - In forecasting daily time-series data, how many...Ch. 16 - In forecasting a quarterly time series over the...Ch. 16 - Prob. 43PSCh. 16 - Prob. 44PSCh. 16 - Are gasoline prices higher during the height of...Ch. 16 - Prob. 46PSCh. 16 - Prob. 47PSCh. 16 - The file Silver-Q contains the price in London for...Ch. 16 - Prob. 49PSCh. 16 - What is a time series?Ch. 16 - What are the different components of a time-series...Ch. 16 - What is the difference between moving average and...Ch. 16 - Prob. 53PSCh. 16 - How does the least-squares linear trend...Ch. 16 - How does autoregressive modelling differ from the...Ch. 16 - What are the different approaches to choosing an...Ch. 16 - What is the major difference between using SYX and...Ch. 16 - How does forecasting for monthly or quarterly data...Ch. 16 - Prob. 60PSCh. 16 - The monthly commercial and residential prices for...Ch. 16 - The data stored in McDonalds represent the gross...Ch. 16 - Teachers’ Retirement System of the City of New...Ch. 16 - Prob. 64PS
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- Question 6 The data shown in Table 3 are and R values for 24 samples of size n = 5 taken from a process producing bearings. The measurements are made on the inside diameter of the bearing, with only the last three decimals recorded (i.e., 34.5 should be 0.50345). Perform a process capability analysis using and R charts for the data from Table 3. Table 3: Data for Question 6 Sample Number R | Sample Number I Ꭱ 1 34.5 3 13 35.4 8 2 34.2 4 14 34.0 6 ∞∞ 31.6 15 37.1 5 4 31.5 4 16 34.9 7 56789 35.0 5 17 33.5 4 34.1 6 18 31.7 3 32.6 4 19 34.0 8 33.8 3 20 35.1 4 34.8 7 10 33.6 8 11 31.9 3 12 38.6 9 2232 21 33.7 2 32.8 1 33.5 24 34.2 2 32 3arrow_forwardQuestion 1 The commercial loan operation of a financial institution has a standard for processing new loan applications in 24 hours. Table 1 shows the number of applications processed each day for the last 20 days and the number of applications that required more than 24 hours to complete. Table 1: Loan Application Data for Question 1 Day Applications Late Day Applications Late 1 200 3 11 219 0 2 250 4 12 238 10 3 240 2 13 250 4 4 300 5 14 302 6 5 200 2 15 219 20 6 250 4 16 246 3 7 246 3 17 251 6 8 258 5 18 273 7 9 275 2 19 245 3 10 274 1 20 260 (a) Set up the fraction nonconforming control chart for this process. Use the variable-width control limit approach. Plot the preliminary data in Table 1 on the chart. Is the process in statistical control? (b) Assume that assignable causes can be found for any out-of-control points on this chart. What center line should be used for process monitoring in the next period, and how should the control limits be calculated?arrow_forwardhelp me with ab please. please handwrite if possible. please don't use AI tools to answerarrow_forward
- help me with ab please. please handwrite if possible. please don't use AI tools to answerarrow_forwardhelp me with abcd please. please handwrite if possible. please don't use AI tools to answerarrow_forwardhelp me with abc please. please handwrite if possible. please don't use AI tools to answerarrow_forward
- Please help me with the following statistic questionarrow_forwardTo evaluate the success of a 1-year experimental program designed to increase the mathematical achievement of underprivileged high school seniors, a random sample of participants in the program will be selected and their mathematics scores will be compared with the previous year’s statewide average of 525 for underprivileged seniors. The researchers want to determine whether the experimental program has increased the mean achievement level over the previous year’s statewide average. If alpha=.05, what sample size is needed to have a probability of Type II error of at most .025 if the actual mean is increased to 550? From previous results, sigma=80.arrow_forwardPlease help me answer the following questions from this problem.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY