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    Confidence Intervals and Control Limits

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    The operation time is calculated for scenarios one and two. The point of the exercise is to identify the scenario that takes the least amount of time ie... the time difference between the two scenarios.

    Explain the control limits (see word .doc) and calculate them upper and lower limits. Calculate confidence intervals and explain them per the data sets given.

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    Solution Preview

    Please see the attached files. Analysis is in the .docx, while the Excel spreadsheets are in the .xlsx.

    The point of the two scenarios is to identify the scenario that takes the least amount of time ie... the time difference between the two scenarios.
    Explain control limits, utilize calculations. Conduct confidence intervals with relevance to the data points.
    Analysis:
    Denote by the mean operation time of Scenario ...

    Solution Summary

    Confidence intervals and control limits are examined in the solution. The operation time is calculated for two scenarios.

    $2.19

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