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    Standard Deviation

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    Capabilities and Adjustments for Packaging Process

    The Crunchy Potato Chip Company sells chips in boxes with a net weight of 30 ounces per box(850 grams). Each box contains ten individual 3-ounce packets of chips. Product design specifications call for the packet-filling process average to be set at 86.0 grams so that the average net weight per box will be 860 grams. Specificati

    Simple Variance Calculation

    The variance of a population having a standard deviation of 3 is ____. Could you please help me I'm stuck on this one. Please explain how to come up with the solution. Thanks

    Clark Heter is an industrial engineer at Lyons products.

    Clark Heter is an industrial engineer at Lyons products. He would kike to determine weather there are more units produced on the afternoon shift than on the day shift a sample of 54 day shift workers showed that the mean number of units produce was 345 with a standard deviation of 21. A sample of 60 afternoon shift workers showe

    Useful Life of a Radial Tire

    The useful life of a radial tire is normally distributed with a mean of 30,000 miles and a standard deviation of 5000 miles. The company makes 10,000 tires a month. a. About how many tires will last between 25,000 and 35,000 miles? b. About how many tires will last more that 40,000 miles? c. About how many tires will

    Rod Diameter Standard Deviation

    Please see the attached file for the question. FIN 220 FALL 07 QUESTION 1) FROM PAST EXPERIENCE, THE POPULATION STANDARD DEVIATION OF ROD DIAMETERS PRODUCED BY A MACHINE HAS BEEN FOUND TO BE 3~ = .053 INCHES.FOR A SIMPLE RANDOM SAM

    Electrical Resistors Machine

    I really need help with this problem. Thank you! A certain machine makes electrical resistors having a mean resistance of 40 ohms and a standard deviation of 2 ohms. What is the probability that a random sample of 50 resistors has a combined resistance of more than 2010 ohms?

    Hal recently accepted a sales position with (IBM) selling "big iron"

    Hal recently accepted a sales position with (IBM) selling "big iron" (mainframe computers). He has to decide between taking a salary only or taking a smaller salary plus commissions on sales. As part of his decision-making process, he has collected historical data from previous years on the number of mainframe sales made by in

    standard deviation of sample shopping times

    Here are the shopping times (in minutes) for a sample of shoppers at a particular shoe store: 25, 38, 34, 41, 37 Find the standard deviation of this sample of shopping times. Round your answer to at least two decimal places.

    Values in Statistical Process Control

    Hour Measurement in inches 1 3.010 2 3.005 3 2.990 4 3.010 5 2.995 6 2.990 7 3.000 8 2.990 9 3.010 10 3.005 11 2.995 12 2.995 13 3.010 14 3.000 15 2.990 16

    Interpreting Standard Deviation

    Your workplace reduces all workplace scores on a particular employee aptitude test into z-scores which are placed into a district-wide distribution of scores. Last year, your newly hired employees ranged between -1 and +2 standard deviations, and this year's newly hired employees range between -2 and +3. What do these number

    Advanced Statistics Problems

    1. Suppose you have invested only in two stocks, A and B. The returns on the two stocks depend on the following three states of the economy, which are equally likely to happen: State of Return on Return on Economy Stock A (%) Stock B (%) Bear

    Statistics Concept for health maintenance organizations

    4. A random sample of 100 light bulbs is selected. Sixty were found to burn for more than 1,000 hours. Develop a 90 percent confidence interval for the proportion of bulbs that will burn more than 1,000 hours. 5. A health maintenance organization (HMO) wants to estimate the mean length of a hospital stay. How large a sample

    A. Fill in the missing values in the table. b. Is the stock of Firm A correctly priced according to the capital-asset-pricing model (CAPM)? What about the stock of Firm B? Firm C? If these securities are not correctly priced, what is your investment recommendation for someone with a well-diversified portfolio?

    You have been provided the following data on the securities of three firms, the market portfolio, and the risk-free asset: Security Expected Return Standard Deviation Correlation Beta Firm A 0.13 0.12 ? 0.9 Firm B 0.16 ? 0.4 1.1 Firm C 0.25 0.24 0.75 ? The market portfolio (S&P5

    Reliability, Validity of Results

    1. How do you interpret the reliability results for the clerical test and work sample? Are they favorable enough for Phonemin to consider using them "for keeps" in selecting new job applicants? 2. How do you interpret the validity results for the clerical test and work sample? Are they favorable enough for Phonemin to con

    Level of Confidence and Sample Size

    I'm trying to determine what happens to the sample size if the level of confidence is reduced from 95% to 90% but the allowable error and the standard deviation remain, the same. Should it be increased, decreased, remain the same or none of these.

    Standard Deviation of the Population: Example Problem

    The following data are the distances from the workplace (in miles) for the 6 employees of a small business: 14, 4, 13, 4, 9, 2 Assuming that these distances constitute an entire population, find the standard deviation of the population. Round your answer to at least two decimal places.

    Chebychev Inequality for average time spent in a car

    A researcher wants to estimate the average time (in minutes) spent in a car daily. This will be done by randomly surveying 300 individuals and calculating the sample mean. Find the probability that the estimate will be in error by less than 5 minutes. Assume that the population standard deviation is 45 minutes.

    Compute the z values

    The Smith family has twins, Rob and Rachel. Both Rob and Rachel graduated from college two years ago, and each is now earning $50,000 per year. Rachel works in the retail industry, where the mean salary for executives with less than 5 years' experience is $35,000 with a standard deviation of $8,000. Rob is an engineer. The m

    Convert x interval to z intervals

    Fawns between 1 and 5 months has a body weight distributed with a mean of 27.2kg and a standard deviation of 4.3 kg. Let x be the weight of the fawn in kilograms. Convert each of the following x intervals into z intervals. a. x<30 b. 19 < x c. 32<x<35

    One tailed test and z scores

    X1 X2 The participants were randomly assigned to groups 1 and 2 34 45 32 35 15 32 27 28 20 34 1. t = 2. df = 3. For a ONE TAILED TEST, with p < .05, what is the Tabled Value, and is the above t significant or not significan

    Payback Period to Implement New Product

    A business currently has a business intelligence tool called WebFocus in a production environment (supporting end users). Cost to maintain WebFocus is $313,832 per year in software maintenance fees and other associated costs to include helpdesk support and other labor. The business wants to migrate from WebFocus to Oracle D

    Manufacturing process involved in production of plastic molds

    [1] A manufacturing process involved in the production of plastic molds for a specific automotive application is under study. To control the mean thickness of this (normally distributed) process with a standard deviation, s = 3.0, chart is used with n = 5, LCL = 14.15, and UCL = 15.85. If the process means shifts to 15.2, find t

    Calculations with Random Samples

    Given random samples of size 5 on the tensile strength of a metal part with LSL = 244 and USL = 256, answer the following questions. (a) Calculate the Cp by first estimating the standard deviation of the process. (b) What percentage of the specification band is used by the process?

    Methods of Interval Estimation

    Discuss how you can apply the concept and method of interval estimation to help you solve some of the problems in a regularly accounting department. Give a few examples.

    Mean and Standard Deviation ..

    Consider the following two data sets. Data Set I 8 16 20 35 Data Set II 5 13 17 32 Note that each value of the second data is obtained by subtracting three from the corresponding value of the first data set. a. Calculate the mean for each of these two data sets. Comment

    Statistical estimation of lifetime of a consumer product

    Whirltag claims that the useful lifetime of its dishwashers is normally distributed with a mean of 3 years and a standard deviation 1 year. Consumer Rejects magazine tested 25 of these dishwashers and found that the average useful life was only 2.5 years. Using Whirltag's reported 1-year standard deviation, what is Consumer Reje