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business statistics a first course

Questions and Answers of Business Statistics A First Course

If your computer statistical package provides additional tests for determining whether a process is in control, carry these out for the entire series of 40 sample means and sample ranges, then
Given the conclusion reached in the solution for Exercise 20.74, with the data in file XR20074, is it appropriate to compute the Process Capability Index (Cpk) for this process? If so, determine the
Given the conclusion reached in the solution for Exercise 20.75, with the data in file XR20075, is it appropriate to compute the Process Capability Index(Cpk) for this process? If so, determine the
Telemarketers for a mail-order firm are assigned to make a total of 200 calls each day, then record the number of potential customers who are interested in receiving a catalog and first-order
An adhesives manufacturer periodically selects a sample of its product and glues 6 toothpicks together, in pairs. A measurement is then made of the number of pounds required to separate the
Following their manufacture, plastic shims are sampled at periodic intervals and their thickness (in millimeters) measured. Each sample consists of n 5 3 shims, and the following data have been
The number of defective products in each of 40 samples taken from a production run are shown here. In each sample, 200 units were examined and classified as either good or defective, depending on
In a production process for canvas, a sample consisting of 25 square feet contains 4 discolored spots that must be touched up before shipping. Data for this and subsequent samples, each consisting of
A process is in control and the results from a series of samples show the overall mean and standard deviation of all the units sampled to be } }x 5 17.35 kilograms and s 5 0.95 kilograms. The upper
A process is in control and the results from a series of samples show the overall mean and standard deviation of all the units sampled to be} }x 5 21.4500 inches and s 5 0.0969 inches. The upper and
In producing bulk rolls of paper for sale to newspapers, a firm wishes to control the quality of the paper by keeping track of how many discolored spots or other flaws are present in continuous
As a machine produces steel rods, accumulated deposits and mechanical wear cause the rod diameters to increase gradually over time. What type of control chart should be used in determining when the
For each of the following, identify which kind of variation is at work—random or assignable—and explain your reasoning.a. During the noon hour, there is an electrical power disruption and nuts
For a person who eats hamburgers with ketchup, how might the traditional and the Taguchi approaches to quality loss apply with regard to the amount of ketchup that is put on the hamburger?
A process has generated the output (in ounces)listed in file XR20064.a. For a series of samples, each with n 5 5, construct and interpret the }x and range charts for this process.Does it appear to be
A process has generated the output (in centimeters)listed in file XR20063.a. For a series of samples, each with n 5 4, construct and interpret the }x and range charts for this process.Does it appear
The data in file XR20062 represent the number of anonymous tips phoned in during each of 50 consecutive days to a local law enforcement hotline. Use your statistical software in generating an
The data in file XR20061 represent 30 samples, each with n 5 3 items measured in inches. For the associated mean and range charts, have your statistical software apply all of the diagnostic tests of
Repeat Exercise 20.52 and apply all of the diagnostic tests available with your statistical software. Has applying these diagnostics to the c-chart raised any concerns regarding the state of control
Repeat Exercise 20.43 and apply all of the diagnostic tests available with your statistical software. Has applying these diagnostics to the mean and range charts raised any concerns regarding the
Can the Process Capability Index (Cpk) ever be greater than the Process Potential Index (Cp)? If so, how?If not, why not?
Using the control limits determined in Exercise 20.52, evaluate whether the process was in control when the following data were collected for vehicles 21–30. Vehicle Number c = Number Vehicle c =
Automobiles are randomly selected for a close examination for fit-and-finish defects, including such items as dirt specks in the paint and panels that are not properly aligned. Based on data
Using the control limits determined in Exer cise 20.49, evaluate whether the process was in control when the following data were collected for samples 21–32. Sample Number Sample Number of Size
Twenty samples have been taken from a production run. Given the following data, construct a 3-sigma p-chart and evaluate whether the process is in control. Sample Number Sample Size Number of
Differentiate between the p-chart and the c-chart.Under what circumstances would each be used?
Use the control chart limits developed in Exercise 20.40 and the following sample results to evaluate whether the process is in control: Sample 1 2 3 4 5 6 Mean 2.95 2.97 3.03 3.11 2.35 3.19 thickness
Measured at the lid center, the thickness of the zinc coating applied to container lids averages 3.000 mil, with a process standard deviation of 0.300 mil. Determine the centerline and the upper and
Use the control chart limits developed in Exercise 20.38 and the following sample results to evaluate whether the process is in control: Sample 1 2 3 3 4 456 Mean 3390 3447 3410 3466 3440 3384 burst
How does the purpose of a range chart differ from that of a mean chart? Why is it a good idea to use both of them in monitoring the same process?
What function is performed by a control chart’s upper and lower limits?
Differentiate between a variable and an attribute.
What is a control chart, and what purpose does it serve?
Differentiate between the traditional and the Taguchi approaches to deviations from a target dimension or measurement.
What is a “check sheet,” and what is its role in total quality management?
What is the “80y20” rule, and how does it apply to total quality management?
What is a cause-and-effect diagram, and what role can it play in total quality management?
What is a process flow chart, and how can it contribute to the goals of total quality management?
What two elements are necessary for worker empowerment to be a successful tool in total quality management?
What is competitive benchmarking, and how can it be used?
What is process capability, and how can its presence be ascertained?
What is a quality audit, and for what purposes might one be performed?
What are the major phases involved in the Six Sigma quality system?
What is the basic difference between total quality management and the traditional approach to quality management?
Contrast the concepts of defect prevention and defect detection as they might apply to each of the following“defects” in society:a. automobile accidentsb. juvenile delinquencyc. alcoholism
Differentiate between statistical process control and acceptance sampling. What is the purpose of each?
Differentiate between conformance and nonconformance in product quality. What are some of the costs associated with each?
Given that a production process may experience both random and assignable variation, for which type of variation is the source generally easier to identify and eliminate? Why?
A driver in the Indianapolis 500 auto race has the lead but is nearly out of fuel with eight laps remaining in the race. The second-place car is just 10 seconds behind and has plenty of fuel. The
In Exercise 19.38, the operator says that he has no idea regarding probabilities for the various weather conditions for the coming winter. What are some other criteria by which he might reach a
For Exercise 19.29, how many cod should be purchased if leftover fish can be sold to a fertilizer company for 30 cents each?
The manager of a fish market pays 80 cents each for cod and sells them for $1.50 each. Fish left over at the end of the day are discarded. The daily demand can be approximated by a normal
A newsstand manager must decide how many daily papers to stock. Past experience has shown that demand can be approximated by a normal distribution with a mean of 400 papers and a standard deviation
In what way are the minimax regret criterion and the expected opportunity loss (EOL) criterion similar? In what ways do they differ?
In business research, it’s extremely rare that any study will provide a perfect assessment of the future.Why then should we bother determining the expected value of perfect information when such
In Exercise 19.13, if x is the probability that the shipment is lost, for what value of x will the alternatives have the same EMV? Assuming this value for x, what is the expected value of perfect
In Exercise 19.12, there is a 0.1 chance that a train will be using the railroad crossing. Given this information, which route should Fred select, and what is the expected number of minutes his trip
For the following payoff table, determine the expected value of perfect information. Does the result seem unusual? If so, why did this occur? Alternative A Alternative B State of Nature 1 (0.6) $80
In Exercise 19.10, the probabilities for the three market conditions are estimated as 0.1, 0.6, and 0.3, respectively. Which design should be selected in order to maximize the firm’s expected
In Exercise 19.9, assume that the team has a 0.6 probability of winning, a 0.3 probability of losing, and a 0.1 probability for a tie game. Which alternative should Dave select if he wishes to
In Exercise 19.4, if the probability that his return will be audited is 0.1, which alternative will the consultant choose if he maximizes expected monetary value? What is the most he should be
A financial institution is evaluating the loan application of an entrepreneur who has come up with a revolutionary product for which he needs developmental funding. The entrepreneur has practically
What is the most important difference between Bayesian and non-Bayesian decision criteria?
An auto manufacturer has preliminary plans to introduce a new diesel engine capable of extremely high fuel economy. The success of the engine depends on whether the U.S. Envi ronmental Protection
An antique collector is shipping $50,000 worth of items from Europe to America and must decide whether to insure the shipment for its full value. An insurance firm will provide this protection for a
For Exercise 19.4, which decision alternative will be selected if the consultant uses the maximin criterion? The maximax criterion? The minimax regret criterion?
A management consultant, unable to locate receipts or records for several business trips during the past year, makes some rough estimates of these expenditures and considers claiming them as business
Convert each of the following indexes so that the new base period will be 2004. A B 2001 101.3 100.0 2002 100.0 102.9 2003 103.4 104.7 2004 105.6 103.2 2005 107.9 107.5 2006 110.3 126.4 2007 116.2
From 1996 to 2007, the median weekly earnings of workers represented by unions went from $610 to $857, and the Consumer Price Index (1982–1984 5 100) went from 156.9 to 207.3. What was the
The Consumer Price Index from 1961 through 2007 is in file XR18085, with 1982–1984 5 100 and 1961 coded as t 5 1. Construct a first-order autoregressive forecasting equation for these data,
The Producer Price Index for finished consumer goods from 1980 through 2007 is in file XR18084, with 1982 5 100 and 1980 coded as t 5 1. Construct a firstorder autoregressive forecasting equation for
Use the seasonal indexes obtained in Exercise 18.78 to generate a deseasonalized series of quarterly bookings for those data.
A Caribbean cruise line booked the number of passengers (in thousands) described below for each quarter from 2005 through 2009.a. Combining the quarterly bookings for each year, fit a linear trend
Ford Motor Company reports the average labor cost per hour (earnings plus benefits) for 1993–2002. Fit a quadratic trend equation to the data, fit a linear trend equation to the data, and then use
The U.S. Energy Information Administration reports the following prices for regular unleaded gasoline in Germany from 2003 through 2008.For the price data given here:a. Fit a linear trend equation to
The trend equation yˆ 5 150 1 12x 1 0.01x2 has been developed for annual unit sales of a filtering system component used by municipal water authorities. The years have been coded so that 2001
The trend equation yˆ 5 2050 1 12x has been developed for the number of vehicles using the ferry service at a national seashore each year. (The years have been coded so that 1997 corresponds to x 5
The actual number of help-wanted ads in a local newspaper was 1682, 1963, 2451, and 3205 for quarters I through IV, respectively, of the preceding year. The corresponding deseasonalized values are
Construct four-period and five-period centered moving averages for the quarterly revenues in Exercise 18.71.Are there any other entertainment or recreation companies for whom a four-period moving
The Walt Disney Company has reported the following quarterly revenues (in billions of dollars) for its Parks & Resorts operating segment for fiscal years 1998 through 2002. Determine the
Construct four-period and five-period centered moving averages for the quarterly residential gas sales in Exercise 18.69. Are there any other energy industries for whom a four-period moving average
The following data describe quarterly residential natural gas sales from 2005 through 2008. Determine the quarterly seasonal indexes, then use these indexes to deseasonalize the original data.
Construct three-period and four-period centered moving averages for the quarterly J. C. Penney sales in Exercise 18.67. Are there any other retailing companies for whom a four-period moving average
The following data are quarterly sales for the J. C. Penney Company for 2000 through 2002. Determine the quarterly seasonal indexes, then use these indexes to deseasonalize the original data. Gross
Given the time series in Exercise 18.65, and using exponential smoothing with 5 0.5, what would have been the forecast for 2009?
The following data show U.S. retail sales of canoes from 1991 through 2008, with data in thousands of boats.a. Construct a graph of the time series. Does the overall trend appear to be upward or
The annual number of international visitors to the United States from 2000 through 2007 is shown here.a. Fit a linear trend equation to the time series. Using this equation, determine the trend
From 2001 through 2007, average monthly cable TV bills were as shown here.a. Fit a linear trend equation to the time series. Using this equation, determine the trend estimate for 2015.b. Fit a
Given the time series in Exercise 18.61, and using exponential smoothing with 5 0.8, what would have been the forecast for 2003?
SUBWAY has grown to include more than 31,000 restaurants worldwide since they opened their first one in 1965. The accompanying data show the number of SUBWAY restaurants worldwide from 1985 through
Given the time series in Exercise 18.59, and using exponential smoothing with 5 0.7, what would have been the forecast for 2008?
Fit a linear trend equation to the following data describing the number of active U.S. Army personnel from 2001 through 2007. What is the trend estimate for 2015? Year Army Personnel (thousands) 2001
The Producer Price Index values for plumbing fixtures and brass fittings from 2002 through 2007 are shown here. Convert the index numbers so that the base period will be 2002 instead of 1982. 2002
Use the Consumer Price Index to convert the 2000 salary of the executive in Exercise 18.56 to its 2007 equivalent.
An executive’s salary increased from $95,000 to$130,000 between 2000 and 2007, but the Consumer Price Index went from 172.2 to 207.3 during this time span. In terms of real income, what was the
The Consumer Price Index and average annual wages in selected industries were as shown in the table.From 1990 to 2007, the average wages went up for workers in all three industries. However, which
What is the Consumer Price Index and what does it reflect?
What is an index number, and what is its value for the base period?
Repeat Exercise 18.51, but for a second-order autoregressive forecasting equation. Compare the MAD values for forecasts generated by the two equations and indicate which one is the better fit to
Over the past 20 years, inventory carrying costs for a large tire manufacturing facility have been as shown.Data are in thousands of dollars. Construct a first-order autoregressive forecasting

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