Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Textbook Question
Chapter 3, Problem 9P
The following 20 observations are for two quantitative variables, x and y.
- a. Create a scatter chart for these 20 observations.
- b. Fit a linear trendline to the 20 observations. What can you say about the relationship between the two quantitative variables?
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15.15. A product is shipped in lots of size N = 2,000. Find a Dodge-Romig single-sampling plan for which the LTPD = 1%, assuming that the process average is 0.25% defective. Draw the OC curve and the ATI curve for this plan. What is the AOQL for this sampling plan?
The sampling plan that should be used is n = 490 and c = 4. If rejected lots are screened 100% and defective items replaced with good ones, the AOQL (from Table 15.9) is approximately X.XX%.
n: from Table 15.9
c: from Table 15.9
Dodge-Romig, LTPD=1.0%, N=2000, process avg = 0.25%
N=
2000
n=
from Table 15.9
C=
from Table 15.9
р
D=N*p
Pa
ATI
AOQ
0.001
0.002
----
0.020
OC curve for N=2000, n=, c=, AOQL= %
ATI curve for N=2000, n=
C=
15.8. Consider the single-sampling plan found in Exercise 15.5. Suppose that lots of N = 2,000 are
submitted. Draw the ATI curve for this plan. Draw the AOQ curve and find the AOQL.
n = 35; c = 1; N = 2,000
ATI = n + (1 − Pa)(N − n)
Pap(N-n)
AOQ
AOQL
N
N=
n=
C=
2000
35
1
P
binomial
Pa=Pr{d<=1}
ATI
AOQ
0.001
0.999
36
0.0010
0.002
0.998
39
0.0020
0.003
0.995
45
0.0029
0.004
0.991
52
0.0039
ATI curve for n=35, c=1|
AOQ curve for n-35, c=1
Problem 2: (10 pts)
You have observations on investments (y) and profits (x) for 100 civil engineering firms. You
assume that you can fit a linear regression model using OLS as follows:
y=a+ẞX + ε
You want to obtain estimates for a and B.
a) Suppose every civil engineering firm in the sample has the same amount of profits.
What, if any, problem would this create? Explain and justify your answer.
b) If the distribution of the profits were not normal, can you use linear regression? Explain
and justify your answer.
c) If profits were presented in categories, would estimating a linear regression model be
appropriate? Explain and justify your answer.
Chapter 3 Solutions
Essentials of Business Analytics (MindTap Course List)
Ch. 3 - A sales manager is trying to determine appropriate...Ch. 3 - The following table shows an example of gross...Ch. 3 - The following table provides monthly revenue...Ch. 3 - In the file MajorSalary, data have been collected...Ch. 3 - Entrepreneur magazine ranks franchises. Among the...Ch. 3 - The file MutualFunds contains a data set with...Ch. 3 - The file TaxData contains information from federal...Ch. 3 - The file FDICBankFailures contains data on...Ch. 3 - The following 20 observations are for two...Ch. 3 - The file Fortune500 contains data for profits and...
Ch. 3 - The International Organization of Motor Vehicle...Ch. 3 - Prob. 12PCh. 3 - Prob. 13PCh. 3 - The total number of term life insurance contracts...Ch. 3 - An automotive company is considering the...Ch. 3 - Consider the following survey results regarding...Ch. 3 - The Northwest regional manager of Logan Outdoor...Ch. 3 - The Ajax Company uses a portfolio approach to...Ch. 3 - Heat maps can be very useful for identifying...Ch. 3 - The following table shows monthly revenue for six...Ch. 3 - Prob. 21PCh. 3 - Aurora Radiological Services is a health care...Ch. 3 - The motion picture industry is an extremely...
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