N5 The McGranger Mortgage Company is interested in monitoring the performance of the mortgage process. Fiften samples of five completed mortgage transactions each were taken duringa period when the process was believed to be in control. The times to complete the transactions were measured.The McGranger Mortgage Company made some changes to the process and undertook a process capability study. The following data were obtained for 15 samples of size 5. Based on theindividual observations, management estimated the process standard deviation to be 4.21 (days) for use in the process capability analysis. The lower and upper specification imits (in days)for the mortgage procesa times wore 5 and 25.2 311 12Sample46.10 1112 13 14 15Mean16 1312171613141715 14 9Range101112 10 1113111514a. Calculate the process capability index and the process capability ratio valuesThe process capability index C O (Enter your response rounded to three decimat places)

Answered: The McGranger Mortgage Company made…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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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 McGranger Mortgage Company made some changes to the process and undertook a process capability study. The following data were obtained for 15 samples of size 5. Based on the individual observations, management estimated the process standard deviation to be 3.21 (days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 2 and 17. 8 Sample Mean 2 3 4 6. 7 10 11 12 13 14 15 9 5 13 10 8 14 13 10 11 15 6 12 11 6 Range 9 12 3 10 9 9 7 14 13 10 4 5 11 9 10 a. Calculate the process capability index and the process capability ratio values. The process capability index C,nk = .727. (Enter your response rounded to three decimal…
Sam’s Long Life 60-watt light bulbs are designed to have a life of 1,350 hours with tolerance of ± 340 hours. A recent representative sample from the process that makes these light bulbs revealed a mean of 1,290 hours, with a standard deviation of 94 hours. Compute a. Compute the process capability ratio and the process capability index, and comment on the overall capability of the process b. Explain to what extent the process for producing Sam’s Long Life 60-watt light bulbs would have to be improved to achieve 4-sigma quality. c. show detail work
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 McGranger Mortgage Company made some changes to the process and undertook a process capability study. The following data were obtained for 15 samples of size 5. Based on the individual observations, management estimated the process standard deviation to be 3.42 (days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 9 and 25. View an example 1 2 14 14 11 14 Get more help. 3 10 5 Sample Mean Range a. Calculate the process capability index and the process capability ratio values. The process capability index Cpk =. (Enter your response rounded to three decimal places.) 4 5 18 15 12 11 6 14 9 MacBook Pro 7 8 19 18 9 16…
Specifications for a part for a 3-D printer state that the part should weigh between 24 and25 ounces. The process that produces the parts has a mean of 24.5 ounces and a standard deviation of .2 ounce. The distribution of output is normal. What percentage of parts will not meet the weight specs? Within what values will 95.44 percent of the sample means of this process fall if samples of n = 16 are taken and the process is in control (random)? Using the control limits from part b, would the following sample means be in control? 24.52, 24.53, 24.44, 24.51, 24.41, 24.39 An automatic filling machine is used to fill 1-liter bottles of cola. The machine’s output is approxi- mately normal with a mean of 1.0 liter and a standard deviation of .01 liter. Output is monitored using means of samples of 25 observations. Determine upper and lower control limits that will include roughly 97 percent of the sample means when the process is in control. Given the following sample means—1.005,…
What is the significance of the order of observation in process control?
Auto pistons at Wemming Chung's plant in Shanghai are produced in a forging process, and the diameter is a critical factor that must be controlled. From sample sizes of 10 pistons produced each day, the mean and the range of this diameter have been as follows: a) What is the value of x? = x= 155.56 mm (round your response to two decimal places). b) What is the value of R? R 4.48 mm (round your response to two decimal places). c) What are the UCL; and LCL; using 3-sigma? Day 1 2 3 4 5 Upper Control Limit (UCL) = 156.94 mm (round your response to two decimal places). Lower Control Limit (LCL-) = 154.18 mm (round your response to two decimal places). d) What are the UCLR and LCLR using 3-sigma? Upper Control Limit (UCL) = 7.96 mm (round your response to two decimal places). Mean x (mm) 154.9 153.2 155.6 155.5 158.6 Range R (mm) 4.0 4.8 3.9 5.0 4.7 Lower Control Limit (LCL) = 1.00 mm (round your response to two decimal places). e) If the true diameter mean should be 155 mm and you want…
Why is it important to prove that a process is proven capable before developing statistical control limits (i.e., SPC charts)?
Checkout time at a supermarket is monitored using a mean and a range chart. Six samples of n = 20 observations have been obtained and the sample means and ranges computed: Sample Mean Range 1 3.06 .42 2 3.15 .50 3 3.11 .41 4 3.13 .46 5 3.06 .46 6 3.09 .45 Using the factors in Table 10.3 , determine upper and lower limits for mean and range charts. Is the process in control?
Auto pistons at Wemming Chung's plant in Shanghai are produced in a forging process, and the diameter is a critical factor that must be controlled. From sample sizes of 10 pistons produced each day, the mean and the range of this diameter have been as follows: a) What is the value of x? x= 156.76 mm (round your response to two decimal places). b) What is the value of R? Day 1 2 3 4 5 Mean x (mm) 158.9 155.2 155.6 157.5 156.6 R = 4.40 mm (round your response to two decimal places). c) What are the UCL and LCL using 3-sigma? Upper Control Limit (UCL) = mm (round your response to two decimal places). Range R (mm) 4.2 4.4 4.3 4.8 4.3 Ç
Auto pistons at Wemming Chung's plant in Shanghai are produced in a forging process, and the diameter is a critical factor that must be controlled. From sample sizes of 10 pistons produced each day, the mean and the range of this diameter have been as follows: a) What is the value of x? = x= 156.76 mm (round your response to two decimal places). b) What is the value of R? R= mm (round your response to two decimal places). Day 1 2 3 4 5 Mean x (mm) 158.9 155.2 155.6 157.5 156.6 Range R (mm) 4.2 4.4 4.3 4.8 4.3
Describe how to construct process control charts and use them to determine whether a process is out of statistical control.
When most processes are sampled for control chart purposes, why aren't they in statistical control?

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