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Standard Deviation

Control Limits for Quality Managers

Assume that you are the Quality Manager for the Emerson D. Meritz Machine Tool Company. Your model IE566 grinding machine is afflicted by three types of defects classified as major (type A), serious (type B) and minor (type C). You wish to set up a demerit system for this product using the following weighting scheme: D=100

Standard Deviation.

The College Board American College Testing Program reported a population mean SAT score of  =1017. Assume that the population standard deviation is  = 100. a. What is the probability that a random sample of 75 students will provide a sample mean SAT score within 10 of the population mean? b. What is the pr

Unique Distribution

If a balanced die is rolled six times and the outcomes create a unique distribution, perform the following: P(exactly three fives) {Use formula} mean {Use formula} variance {use formula} standard deviation {use formula} Problem # 2 If 20%

Business forecasting

Dick Hoover, owner of Modern Office Equipment, is concerned about freight costs and clerical costs incurred on small orders. In an effort to reduce expenditures in this area, he has decided to introduce a discount policy rewarding orders over $40 in the hope that this will cause customers to consolidate a number of small orders

Calculating midrange, first quartile, mean, standard deviation

Sixteen retail outlets were surveyed to find the cost of a window chiller. The results are 280,310,265,298,285,325,360,340,260,275,295,280,355,295 and 355. find the midrange find the value corresponding to P50 find the first quartile (in dollars) find the mean find the unbiased standard deviation what is th z-score,

Find Standard Deviation using the computational formula

"My Bank" opens a branchin a commercial district. The bank wants to find out the waiting time of their customers during the Friday evening hours from 5pm to 8pm. Accordingly, the waiting time is recorded for all customers during these hours over a month. A random sample of 20 customers is selected; the waiting time, in minutes,

Comparing the Average Difference and Standard Deviation Between Two Populations

While it cannot be denied that advertising impacts sales, it is also true that advertising is expensive and companies want to advertise in ways that have the greatest benefit for the amount of money spent. A company that sells snack food designs two different advertising strategies, one focusing on print media and the other on r

A statistical excercise in portfolio selection.

An investor has a certain amount of money available to invest now. Three alternative portfolio selections are available. The estimated profits of each portfolio under each economic condition are indicated in below table: Portfolio Selection Event A B

Consider the three values of mean and the three values of standard deviation

I need to know how to do this in EXCEL.. Thank you The question below appears in the attached file as well. You may find it easier to read in the attachment. Given the following population data: 1,2,4,5,8,9,12, and the lists of all samples of size 2 and 5: Samples of n=2 -xbar 1,2--1.5 1,4--2.5 1,5--3 1,8-----------