o The Table 11 10 below shows the processing times (in hours) for samples of fiv
ID: 366959 • Letter: O
Question
o The Table 11 10 below shows the processing times (in hours) for samples of five home mortgage applications submitted at a financial services company cadh iod. last 15 days. The company guarantees to its customers that it will process all applications within a 24-hour time per ABLE 11.10 Processing Times (Hours) Day 15.5 3.5 14.5 12.75 15.5 11.5 1 3.75 14.5 18.5 12.25 9.25 15 18.25 7.25 18 16.25 12.75 7.5 16 17.25 12.75 4.25 15.75 10 12 19 13.5 o.s 11.5 11.5 12 13 14 26.75 21.75 24.75 12 (Round your answer to two decimals) Based on these standards, the process capability index isExplanation / Answer
First let’s calculate x-bar, standard deviation, upper and lower specification
Now we have,
Mean (average) = 14.05 hours
Standard deviation = 5.42 hours
Upper specification USL = 17.30 hours
Lower specification LSL = 10.79 hours
The process capability index, Cpk= Min [(Mean – LSL)/3 *, (USL – Mean)/3* ]
= min [(14.05- 10.79)/ (3* 5.42), (17.30 – 14.05)/ (3 * 5.42)]
= min [0.20, 0.20] = 0.20
Therefore process capability index is 0.20
Days Application1 Application2 Application3 Application4 Application5 Mean (X Bar)= (1+2+3+4+5)/5 R (max - min from 1,2,3,4, 5 applications) 1 14.5 11.5 15.15 13.5 9.5 12.83 5.65 2 12.754 12.75 8.75 10.75 13.75 11.7508 5 3 15.5 17.5 21.5 18.5 14.5 17.5 7 4 6.25 7.25 8.25 12.25 9.25 8.65 6 5 10.25 10.25 6.25 9.25 12.25 9.65 6 6 22 18 16 15 16 17.4 7 7 17.25 16.25 14.25 18.25 17.25 16.65 4 8 15.75 12.75 12.75 15.75 12.75 13.95 3 9 9.5 7.5 3.5 2.5 0.5 4.7 9 10 12 9 11 8 12 10.4 4 11 18 21 23 22 19 20.6 5 12 11.5 11.5 10.5 9.5 13.5 11.3 4 13 22 23 19 18 15 19.4 8 14 21.75 24.75 24.75 26.75 29.75 25.55 8 15 12 9 10 11 10 10.4 3 Mean X double bar (average of X bar) 14.05 5.64 R bar (average of R) St. Dev. 5.42Related Questions
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