STATISTICAL TECHNIQUES FOR BUSINESS AND
17th Edition
ISBN: 9781307261158
Author: Lind
Publisher: MCG/CREATE
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Chapter 7, Problem 2P
a.
To determine
Find the
b.
To determine
Find the number expected not to default.
c.
To determine
Find the probability that three or more homeowners will default on their small home-improvement loans.
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Suppose that a sports reporter claims the average football game lasts 3 hours, and you believe it's more than that. Your random sample of 35 games has an average time of 3.25 hours. Assume that the population standard deviation is 1 hour. Use a = 0.05. What do you conclude?
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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?
Chapter 7 Solutions
STATISTICAL TECHNIQUES FOR BUSINESS AND
Ch. 7 - Microwave ovens only last so long. The life-time...Ch. 7 - Prob. 1ECh. 7 - Prob. 2ECh. 7 - Prob. 3ECh. 7 - Prob. 4ECh. 7 - Prob. 5ECh. 7 - Prob. 6ECh. 7 - Prob. 2SRCh. 7 - The distribution of the annual incomes of a group...Ch. 7 - Explain what is meant by this statement: There is...
Ch. 7 - List the major characteristics of a normal...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The Kamp family has twins, Rob and Rachel. Both...Ch. 7 - Prob. 12ECh. 7 - The temperature of coffee sold at the Coffee Bean...Ch. 7 - A normal population has a mean of 20.0 and a...Ch. 7 - A normal population has a mean of 12.2 and a...Ch. 7 - A recent study of the hourly wages of maintenance...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - Prob. 5SRCh. 7 - Prob. 17ECh. 7 - A normal population has a mean of 80.0 and a...Ch. 7 - Prob. 19ECh. 7 - Prob. 20ECh. 7 - WNAE, an all-news AM station, finds that the...Ch. 7 - Prob. 22ECh. 7 - Prob. 6SRCh. 7 - A normal distribution has a mean of 50 and a...Ch. 7 - Prob. 24ECh. 7 - Prob. 25ECh. 7 - Prob. 26ECh. 7 - Prob. 27ECh. 7 - Prob. 28ECh. 7 - Prob. 29ECh. 7 - Prob. 30ECh. 7 - Prob. 7SRCh. 7 - Prob. 31ECh. 7 - Prob. 32ECh. 7 - Prob. 33ECh. 7 - Prob. 34ECh. 7 - Prob. 35ECh. 7 - Prob. 36ECh. 7 - Prob. 8SRCh. 7 - Prob. 37ECh. 7 - The lifetime of LCD TV sets follows an exponential...Ch. 7 - Prob. 39ECh. 7 - Prob. 40ECh. 7 - Prob. 41CECh. 7 - Prob. 42CECh. 7 - Prob. 43CECh. 7 - Prob. 44CECh. 7 - Prob. 45CECh. 7 - Prob. 46CECh. 7 - Prob. 47CECh. 7 - Prob. 48CECh. 7 - Shaver Manufacturing Inc. offers dental insurance...Ch. 7 - The annual commissions earned by sales...Ch. 7 - Prob. 51CECh. 7 - Prob. 52CECh. 7 - Management at Gordon Electronics is considering...Ch. 7 - Fast Service Truck Lines uses the Ford Super Duty...Ch. 7 - Prob. 55CECh. 7 - Prob. 56CECh. 7 - Prob. 57CECh. 7 - Prob. 58CECh. 7 - Prob. 59CECh. 7 - Prob. 60CECh. 7 - Prob. 61CECh. 7 - Prob. 62CECh. 7 - The weights of canned hams processed at Henline...Ch. 7 - Prob. 64CECh. 7 - Prob. 65CECh. 7 - The price of shares of Bank of Florida at the end...Ch. 7 - Prob. 67CECh. 7 - Prob. 68CECh. 7 - Prob. 69CECh. 7 - Prob. 70CECh. 7 - Prob. 71CECh. 7 - Prob. 72CECh. 7 - Prob. 73CECh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 1.1PTCh. 7 - Prob. 1.2PTCh. 7 - Prob. 1.3PTCh. 7 - Prob. 1.4PTCh. 7 - Prob. 1.5PTCh. 7 - Prob. 1.6PTCh. 7 - Which of the following is NOT a requirement of the...Ch. 7 - Prob. 1.8PTCh. 7 - How many standard normal distributions are there?...Ch. 7 - Prob. 1.10PTCh. 7 - Prob. 1.11PTCh. 7 - Prob. 1.12PTCh. 7 - Prob. 1.13PTCh. 7 - Prob. 1.14PTCh. 7 - Prob. 1.15PTCh. 7 - Prob. 2.1PTCh. 7 - Prob. 2.2PTCh. 7 - Prob. 2.3PTCh. 7 - Prob. 2.4PTCh. 7 - Prob. 2.5PTCh. 7 - Prob. 2.6PTCh. 7 - Prob. 2.7PT
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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 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.arrow_forwardQuestion 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 99arrow_forwardQuestion 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_forward
- Question 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_forwardhelp me with ab please. please handwrite if possible. please don't use AI tools to answerarrow_forward
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