Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

A statistical process analyst is responsible for assuring statistical control. In one process, a machine is supposed to drop 11.4 ounces of mints into a bag. (Assume that this process can be approximated by a normal distribution). The acceptable ranges for weights of the bags of mints are 11.25 ounces to 11.55 ounces, inclusive.An error with the release valve has caused the setting on the mint release machine to "shift". Assume that the machine shift is filling the bags with a mean weight of 11.56 ounces and a standard deviation of 0.05 ounces. To check that the machine is placing the correct weight of mints into the bags, you randomly select three samples of five bags each and find the mean weight in ounces for each sample.

While sampling individual bags You randomly select a bag of mints. What is the probability that the bag you select is not outside the acceptable range? (That is, you do not detect that the machine has shifted.) You randomly select 15 bags of mints. What is the probability that you select at least one bag that is not outside the acceptable range? While sampling groups of five You randomly select a sample of five bags. What is the probability that your sample of five bags has a mean that is not outside the acceptable range? (That is, you do not detect that the machine has shifted.) You randomly select three samples of five bags. What is the probability that you select at least one sample of five bags that has a mean that is not outside the acceptable range? Describe your solutions to each of these problems and explain whether taking 15 bags of mints in one sample or three samples of five bags each is the better way to test for a process that is out of statistical control.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9965420

Have any Question?


Related Questions in Accounting Basics

Question - richard starts his own business in 2016 with

Question - Richard starts his own business in 2016 with $2,000 owner's capital. In 2016, he bought 10 textbooks at $1,000 and sold 5 of them at $600. There is no other transaction during 2016. What is the cost of goods s ...

Question - on december 31 2018 fine company acquired a new

Question - On December 31, 2018, Fine Company acquired a new delivery truck in exchange for an old delivery truck that it had acquired in 2012. The old truck was purchased for $70,000 and had a book value of $26,600. On ...

Question - on december 31 year 1 day co leased a new

Question - On December 31, year 1, Day Co. leased a new machine from Parr with the following pertinent information: Lease term 8 years Annual rental payable at beginning of each year $60,000 Useful life of machine 10 yea ...

Question - last year garrison manufacturing sold 500 000

Question - Last year, Garrison Manufacturing sold 500 000 units at $4 each. Both sales volume and sales price are expected to increase by 15 per cent in the upcoming year. Calculate the expected sales revenue for the upc ...

Question - monty corporation was organized on january 1

Question - Monty Corporation was organized on January 1, 2020. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 550,000 shares of no-par common stock with a stated value of $3 per share. ...

Question - john lee is the manager in charge of the audit

Question - John Lee is the manager in charge of the audit of the upcoming annual audit of Hing Fat Ltd, a new audit client. All the preliminary verbal discussions and enquiries among the auditors, the company, the predec ...

Question - lirin inc factors 6000000 of its accounts

Question - Lirin Inc. factors $6,000,000 of its accounts receivables without recourse for a finance charge of 5%. The finance company retains an amount equal to 10% of the amounts receivable for possible adjustments. Lir ...

Question - company appropriately used the installment

Question - Company appropriately used the installment method of accounting to recognize income in its financial statement. Some pertinent data relating to this method of accounting include: Installment sales 750,000 900, ...

Question - june 30 you record the adjusting entry for the

Question - June 30 You record the adjusting entry for the depreciation on equipment for the month, which is estimated to be $5,640 per year. What is the book value of the equipment after the adjusting entry in the proble ...

Question - marigold corporation issued a 4-year 55000 5

Question - Marigold Corporation issued a 4-year, $55,000, 5% note to Greenbush Company on January 1, 2017, and received a computer that normally sells for $44,762. The note requires annual interest payments each December ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As