Taguchi Loss Function Lanman, Inc., estimates its hidden external failure costs using the Taguchi loss function....

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Taguchi Loss Function Lanman, Inc., estimates its hidden external failure costs using the Taguchi loss function. Lanman produces plastic sheets that vary in thickness and grade. For one of its large-volume products, it was determined that k = $40,000 and 7 = 0.28 inches in diameter. A sample of four units produced the following values: Unit Actual Diameter No. (y) 1 0.28 2 0.30 3 0.26 4 0.27 Required: 1. Calculate the average loss per unit. Round your intermediate calculations to six decimal places. If required, round your answer to the nearest cent and use the same in subsequent requirements. per unit 2. Assuming that 110,000 units were produced, what is the total hidden cost? 3. Assume that the multiplier for Lanman's hidden external failure costs is six. What are the measured external costs? Taguchi Loss Function Lanman, Inc., estimates its hidden external failure costs using the Taguchi loss function. Lanman produces plastic sheets that vary in thickness and grade. For one of its large-volume products, it was determined that k = $40,000 and 7 = 0.28 inches in diameter. A sample of four units produced the following values: Unit Actual Diameter No. (y) 1 0.28 2 0.30 3 0.26 4 0.27 Required: 1. Calculate the average loss per unit. Round your intermediate calculations to six decimal places. If required, round your answer to the nearest cent and use the same in subsequent requirements. per unit 2. Assuming that 110,000 units were produced, what is the total hidden cost? 3. Assume that the multiplier for Lanman's hidden external failure costs is six. What are the measured external costs?