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6. The McGranger Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken
6. The McGranger Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken during a period when the process was believed to be in control. The times to complete the transactions were measured. The means and ranges of the mortgage process transaction times, measured in days, are as follows: Sample 2 3 5 7 9 10 11 12 13 14 15 Mean 17 14 8 17 12 13 15 16 13 14 16 11 9 12 Range 6 11 4 8 14 12 15 10 10 11 6 9 11 13 Subsequently, samples of size 5 were taken from the pro- cess every week for the next 10 weeks. The times were measured and the following results obtained: Sample 16 17 18 19 20 21 22 23 24 25 Mean 11 14 9 15 17 19 13 22 20 18 Range 7 11 6 4 12 14 11 10 8 6 a. Construct the control charts for the mean and the range, using the original 15 samples. b. On the control charts developed in part (a), plot the values from samples 16 through 25 and comment on whether the process is in control
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