Capability of a Process : Reviewing Account Audits ; Standard Deviation
Not what you're looking for?
An accounting firm is trying to understand the capability of its process to review certain types of account audits. They know that on average it takes 10 hours to complete one of these audits, but due to variation, they promise the customer that it will be done in 15 hours. If the standard deviation of this audit process is 2.5 hours (and normality is assumed)
a) What is the capability of this process?
b) What is the percentage of audits that will take longer than 15 hours?
Purchase this Solution
Solution Summary
Capability of a process is investigated. The solution is detailed and well presented. The response received a rating of "5/5" from the student who originally posted the question.
Purchase this Solution
Free BrainMass Quizzes
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.