For the given data, the x = Based on the sampling done, the control limits for 3-sigma x chart are: Upper Control Limit (UCL) = Lower Control Limit (LCL;) - inches (round your response to four decimal places). inches (round your response to four decimal places). inches (round your response to four decimal places). Based on the x-chart, is one or more samples beyond the control limits? For the given data, the R=inches (round your response to four decimal places). The control limits for the 3-sigma R-chart are: Upper Control Limit (UCLR)= inches (round your response to four decimal places). Lower Control Limit (LCLR)= inches (round your response to four decimal places). Based on the R-chart, is one or more samples beyond the control limits?
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- Use Excels functions (not @RISK) to generate 1000 random numbers from a normal distribution with mean 100 and standard deviation 10. Then freeze these random numbers. a. Calculate the mean and standard deviation of these random numbers. Are they approximately what you would expect? b. What fraction of these random numbers are within k standard deviations of the mean? Answer for k = 1; for k = 2; for k = 3. Are the answers close to what they should be (about 68% for k = 1, about 95% for k = 2, and over 99% for k = 3)? c. Create a histogram of the random numbers using about 10 bins of your choice. Does this histogram have approximately the shape you would expect?In 2020, a manufacturing company instituted a total quality management (TQM) program producingthe comparative report shown below:[LO 17-5]Summary COQ Report(in thousands)2019 2020 % ChangePrevention costs $ 200 $ 300 +50Appraisal costs 210 315 +50Internal failure costs 190 114 −40External failure costs 1,200 621 −48Total COQ $1,800 $1,350 −25On the basis of this report, which one of the following statements is most likely correct?a. An increase in conformance costs resulted in a higher-quality product and, therefore, a decreasein nonconformance costs.b. An increase in inspection costs was solely responsible for the decrease in quality costs.c. Quality costs such as scrap and rework decreased by 48%.d. Quality costs such as returns and repairs under warranty decreased by 40%.e. Nonconformance costs increased by 50% and conformance costs decreased by approximately 47%.The following data are from a completely randomized design. In the following calculations, use ? = 0.05. Treatment1 Treatment2 Treatment3 63 82 68 46 73 55 54 88 60 37 61 45 xj 50 76 57 sj2 123.33 138.00 92.67 (a) Use analysis of variance to test for a significant difference among the means of the three treatments. State the null and alternative hypotheses. H0: At least two of the population means are equal.Ha: At least two of the population means are different. H0: ?1 = ?2 = ?3Ha: ?1 ≠ ?2 ≠ ?3 H0: Not all the population means are equal.Ha: ?1 = ?2 = ?3 H0: ?1 = ?2 = ?3Ha: Not all the population means are equal. H0: ?1 ≠ ?2 ≠ ?3Ha: ?1 = ?2 = ?3 Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to three decimal places.) p-value = State your conclusion. Do not reject H0. There is sufficient evidence…
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- RJ produces chocolate balls. There are five samples, and each sample contains 4 packs of chocolate balls that were randomly selected and weighed. The following is the sample data: Weight (lb) Sample 1 Sample 2 Sample 3 Sample 4 Sample 5 Pack 1 0.94 1 1.05 0.98 0.93 Pack 2 1.15 0.93 1.13 0.93 0.8 Pack 3 0.88 1 1.07 0.9 1.12 Pack 4 0.96 1.06 0.97 0.89 1.01 Suppose the standard deviation is unknown, and the X-bar chart is based on 3-sigma limits. Based on the sample data, what is LCL? a 0.920 b 0.887 c 0.816 d 0.844Let’s suppose that you have a set of time-series variables, and you want to model the relationship between them. Read the situations given below and answer the questions. (200 words)a) Explain the statistical test if the linear combination (of time-series variables) is I(0).b) Which statistical test can be applied if all the series are integrated of the same order I(1). Justify your answer41.The ______ are (is) used to determine the amount of money that an organization would save if it used a particular test in place of the test it currently uses to select employees. a. Brogden-Cronbach-Gleser formula b. Taylor-Russell Tables c.expectancy charts d. Lawshe tables 42.When the criterion validity coefficient is ____, and the selection ratio is ____, a test will have the most utility in selecting successful employees. a. large / large b. large / small c.small / small d. small / large 43.A test is considered to have _____ if there are race differences in test scores that are unrelated to the construct being measured. a. differential validity b. measurement bias c.selection bias d. adverse impact 44.If the selection rate for any of the protected groups is less than 80% of the…
- 2 Vidhya Balan is planning to liquidate her investments inmutual funds and invest in real estate. Before makingthe change to her investment strategy, Vidhya wants toforecast the price of mutual funds for the next 2 months.She has collected the following data on the average fundprices for the past 10 months.Month Average Fund Price1 55.12 53.83 53.44 52.955 52.156 52.757 52.658 51.59 52.2510 51.7a Using a five-period moving average, forecast theaverage fund price for Period 11.b. Using exponential smoothing with α = 0.3 forecastthe average fund price for Period 11. Assume an initialforecast for Month 2 (F2) as 55.10The chart below is a summary of the main results of a test data set representing the population observed purchasing a virtual digital assistant. What does the accuracy rate indicate? Metrics Metric Value Accuracy (#correct) 178 Accuracy (%correct) 85.6 Specificity 0.88219 Sensitivity (Recall) 0.6 Precision 0.82400 F1 Score 0.88213 Success Class 1 Success Probability 0.4 Multiple Choice 85.6% of the population has purchased a virtual assistant. 60% of the observations are correctly classified. 85.6% of the observations are correctly classified. 14.4% of the observations are correctly classified. Explain all the incorrect answers alsoA) Why is the conditional variance a good measure of uncertainty? B) Outline the GARCH model and GARCH-M model. C) Outline one of the extensions to the basic GARCH family of models