Quality Control To measure the quality of banking services, the Bank records the time required to process basic customer transactions. An industry standard for such transactions is 1.5 minutes with an upper limit of 3 minutes. A sample of 8 basic transactions is taken each day for a 10-day period. All the data taken from these 10-day period can be found in the attached Excel spreadsheet 'Bank.xlsx' . (a) Determine the appropriate control limits for the average customer transactions time and the range of values and draw the associated control charts. (b) Suppose that a particular day's average transaction time is 2.3 minutes with a maximum time of 2.7 minutes and a minimum time of 1.5 minutes. Given the answer to part a, is the process currently in control? Explain. (c) If we consider the upper limit of the industry standard to be a customer requirement, how capable is this process currently? Explain by commenting on the process capability measure. (d) What targets should to be set in order for the customer transaction process to reach a process capability level of 1? Explain. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline Samples & Day 1 & Day 2 & Day 3 & Day 4 & Day 5 & Day 6 & Day 7 & Day 8 & Day 9 & Day 10 \\ \hline 1 & 2.19 & 2.08 & 2.36 & 2.41 & 1.68 & 2.41 & 2.13 & 2.25 & 1.75 & 1.72 \\ \hline 2 & 2.2 & 2.3 & 2.33 & 2.33 & 1.61 & 1.72 & 2.05 & 2.05 & 2.16 & 1.58 \\ \hline 3 & 1.97 & 1.58 & 1.97 & 1.64 & 1.94 & 2.47 & 2.44 & 2.43 & 2.42 & 1.56 \\ \hline 4 & 2.01 & 1.58 & 1.72 & 2 & 1.9 & 1.87 & 2.28 & 2.11 & 2.34 & 1.73 \\ \hline 5 & 1.68 & 2.21 & 1.63 & 2.18 & 2.04 & 1.64 & 2.12 & 1.59 & 2.45 & 2.48 \\ \hline 6 & 2.49 & 1.95 & 2.39 & 1.92 & 1.93 & 2.46 & 2.39 & 1.65 & 1.97 & 2.21 \\ \hline 7 & 1.63 & 1.57 & 1.56 & 2.01 & 1.91 & 2.43 & 1.91 & 2.32 & 1.62 & 1.96 \\ \hline 8 & 2.45 & 1.91 & 1.92 & 2.41 & 1.99 & 2.03 & 2.26 & 1.58 & 2.47 & 1.73 \\ \hline \end{tabular}