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blondinia [14]
3 years ago
5

The Money Pit Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five comp

leted 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 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
mean 13 11 5 14 9 10 12 13 10 11 14 6 8 6 9
range 9 13 6 10 11 17 14 17 12 12 13 8 11 13 15
​Subsequently, samples of size 5 were taken from the process 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 9 11 6 12 14 15 10 19 17 15
range 9 13 8 6 14 15 13 12 10 8
Factors for calculating​ three-sigma limits for the
x overbarx​-chart and​ R-chart
Size of Sample​ (n)
Factor for UCL and LCL for
x overbarx​-chart
​(Upper A 2A2​)
Factor for LCL for​ R-Chart
​(Upper D 3D3​)
Factor for UCL for​ R-Chart
​(Upper D 4D4​)
2 1.8801.880 00 3.2673.267
3 1.0231.023 00 2.5752.575
4 0.7290.729 00 2.2822.282
5 0.5770.577 00 2.1152.115
6 0.4830.483 00 2.0042.004
7 0.4190.419 0.0760.076 1.9241.924
8 0.3730.373 0.1360.136 1.8641.864
9 0.3370.337 0.1840.184 1.8161.816
10 0.3080.308 0.2230.223 1.7771.777
Construct the control charts for the mean and the​ range, using the original 15 samples.
Set up the​ R-chart by specifying the center line and​three-sigma control limits below. ​(Enter your responses rounded to two decimal​ places.)

Business
1 answer:
djverab [1.8K]3 years ago
5 0

Answer and Explanation:

As per the data given in the question,

Sum of the all mean value = 151

Average of the mean value = 151 ÷ 15 = 10.067

Similarly, Sum of the all given range = 151

Average of given range value = 151÷ 15 = 10.067

Control charts for the mean and the range, using the original 15 samples :

Upper control limit(UCL) - Lower control limit(LCL) for X bar is

= 10.067 + A2 × R bar

= 10.067 + (0.223 × 10.067)

= 12.31

LCL - UCL for X bar  is

= 10.067 - A2 × R bar

= 10.067 -(0.223 × 10.067)

= 7.82

Set up the R-chart by specifying the center line and three-sigma control limits below :

UCLr = D4 × r      

= 1.653 × 10.07  

= 16.65    

r = 10.067

= 10.07

LCLr = D3 × r  

= 0.347 ×10.07

= 3.49

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Boersma Sales , Inc., a merchandising company, reported sales of 7100 units in September at a selling price of $682 per unit. Co
Doss [256]

Answer:

$2,122,900

Explanation:

Calculation to determine what The Gross margin for September was

First step is to determine the variable costs

Variable costs= (317 * 7,100) + (44*7,100) + (22*7,100)

Variable costs= 2,250,700 + 312,400 + 156,200

Variable costs= $2,719,300

Now let determine the Gross margin

Using this formula

GM=Sales-VC

Let plug in the formula

Gross margin = (682 * 7,100) - 2,719,300

Gross margin = $2,122,900

Therefore The gross margin for September was:$2,122,900

3 0
3 years ago
Lawn Chopper Company sells two types of lawn mowers. The first one is a basic lawn mower, which has variable costs of $50 and se
Temka [501]

Answer:

See below

Explanation:

Breakven even point is computed as

= Fixed costs / ( Sales price per unit - Variable costs per unit)

For basic lawn mower, Given that;

Fixed cost = $5,000,000

Sales price per unit = $150

Variable costs per unit = $50

BEP = $500,000 / ($150 - $50)

BEP = $500,000 / $100

BEP = 5,000 units

For Riding tractor, given that;

Fixed costs = $500,000

Sales price per unit = $1,500

Variable cost per unit = $500

BEP = $500,000 / ($1,500 - $500)

BEP = $500,000 / $1,000

BEP = 500 units

It therefore means that 5,000 units of basic Lawn mower must be sold to break even, while 500 units of riding tractor must be sold to break even.

7 0
3 years ago
Illinois Company is attempting to develop the cost function for repair costs. The following past data are available: Machine Hou
Harlamova29_29 [7]

Answer:

$480

Explanation:

Data provided in the question:

Machine              Hours Repair Costs

2,400                       $6,385

1,200                        $3,480

2,000                       $5,285

3,400                       $8,980

Now,

                       Machine              Hours Repair Costs

Highest             3,400                       $8,980

Lowest              1,200                        $3,480

Difference        2,200                       $5,500

Unit variable cost =  $5,500 ÷ 2,200

= $2.5

Total cost at high level = $8,980

Machine hours highest level = 3,400

Also,

Total cost at high level = Fixed cost + Variable cost at highest level

or

$8,980 = Fixed cost + [ $2.5 × 3,400 ]

or

Fixed cost = $8,980 -  [ $2.5 × 3,400 ]

= $8,980 - $8,500

= $480

7 0
3 years ago
For each error below, indicate:
patriot [66]

Answer:

1. Inventory account will be affected and assertions of accuracy and valuation will be violated.

2. Assets are overstated and assertion classification is violated.

3. Liability is understated and assertions of accuracy is violated.

4. No impact.

Explanation:

Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.

8 0
3 years ago
William and Charlotte Collins divorced in November of year 1. William moved out and Charlotte remained in their house with their
anzhelika [568]

Answer: B. Charlotte

Explanation:

Preference is given to people that live with the dependent so this puts William at the least priority because he doesn't live with Autumn thereby leaving Charlotte and her mother.

Preference is then given to the biological parents of the dependent which means that Diana is has second priority. Charlotte is therefore the the most preferred to claim her daughter as a dependent which would allow her greater tax deductions.

5 0
3 years ago
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