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- Problem 10-5 (Algo) Using samples of 196 credit card statements, an auditor found the following:Use Table-A. Sample 1 2 3 4 Number with errors 4 3 6 9 Click here for the Excel Data File a. Determine the fraction defective in each sample. (Round your answers to 4 decimal places.) b. If the true fraction defective for this process is unknown, what is your estimate of it? (Round your answer to 1 decimal place.) c. What is your estimate of the mean and standard deviation of the sampling distribution of fractions defective for samples of this size? (Round your intermediate calculations and final answers to 4 decimal places.) d. What control limits would give an alpha risk of .03 for this process? (Round your intermediate calculations to 4 decimal places. Round your "z" value to 2 decimal places and other answers to 4 decimal places.) e. What alpha risk would control limits of .0470 and .0092 provide? (Round your intermediate calculations to 4 decimal…(c) Based on what we know about Observation B, if the cutoff value is lowered to 0.2, what happens to the values of sensitivity and specificity? Explain. Use the ROC curve to estimate the values of sensitivity and specificity for a cutoff value of 0.2. If required, round your answers to three decimal places. Do not round intermediate calculations. Answer Part C, there are no other parts here. I have the sensitivity already and is equal to 1. What is the specificity??If you are not 100% sure you are right, do not attempt this is frustrating. The cutoff value has changed from 0.5 to 0.2. The sensitivity is 1 which is correct. I need help with the specificity. Sensitivity does not equal 1/14 and specificity does not equal 1/31 so don't answer that and do not answer any other parts just answer part C.Johnson Plastics Inc. produces cases for CDs. The accounting manager has performed a regression analysis to determine future production costs. The regression estimate is $5,000, with anR-squared of .9, a t-value of 2.5, and a standard error (SE) of $400. Within what interval would shebe reasonably (67%) confident that the actual values will fall?
- 1. HighQualityasavalueproposition:Paras took on himself to ensure quality becomes a top differentiator and a value proposition to its customers. They started working closely with beekeepers in the Himachali region around the Himalayan foothills and in Muzaffarpur, where they encourage ethical beekeeping. Ethical beekeeping is a format where a hundred per cent of the honey is harvested at no point. Only 60% will be taken out of the hives that, or through that process, at any point, 40% will be left back for the bees.Also, through the exploration and pursuit of pure honey, Paras came across multiflora honey, which is most commonly used as a source of honey. But unfortunately, adulteration happens when a blend of multiflora honey is packaged and sold. Paras ensured that the lab tested the source from which they collected the honey to ensure the promise of purity was kept at every stage. Moreover, while sourcing the honey, the honey twig ensured that it was entirely antibiotic-free.2.…1. HighQualityasavalueproposition:Paras took on himself to ensure quality becomes a top differentiator and a value proposition to its customers. They started working closely with beekeepers in the Himachali region around the Himalayan foothills and in Muzaffarpur, where they encourage ethical beekeeping. Ethical beekeeping is a format where a hundred per cent of the honey is harvested at no point. Only 60% will be taken out of the hives that, or through that process, at any point, 40% will be left back for the bees.Also, through the exploration and pursuit of pure honey, Paras came across multiflora honey, which is most commonly used as a source of honey. But unfortunately, adulteration happens when a blend of multiflora honey is packaged and sold. Paras ensured that the lab tested the source from which they collected the honey to ensure the promise of purity was kept at every stage. Moreover, while sourcing the honey, the honey twig ensured that it was entirely antibiotic-free.2.…Vilfredo Pareto was a famous engineer/economist in the 19th and early 20th centuries. He reportedly expressed this 80/20 Rule: 80% of all progress results from 20% of the actions taken. The Pareto Diagram, also called a Juran Diagram, depicts a variant 80/20 Rule: 80% of all production problems come from 20% of the problem areas. a. What kind of statistical chart is the Pareto Diagram? ____ (enter H for histogram, P for probability distribution, T for a Taguchi chart, A for all three of these. N for none of these. b. The value of the Pareto Diagram is its highlighting the areas causing 80% of quality problems. ____ (enter T for true or F for false)
- The time to deliver packaged containers by a logistics company is found fromsamples of size 4. The mean and standard deviation of delivery times is estimated tobe 140 hours and 6 hours, respectively.(a) Find the 2 sigma and 3 sigma control limits for the average delivery time.(b) Explain a type I and type II error specifically in this context.(c) If the mean delivery time shifts to 145 hours, what is the probability of notdetecting this by the second sample after the shift?(d) What is the ARL? ExplainA research firm has been asked to determine the proportion of all restaurants in the state of Ohio that serve alcoholic beverages. The firm wants to be 98% confident of its results but has no idea of what the actual proportion is. The firm would like to report an error of no more than 0.07. How large a sample should it take? Appendix A Statistical Tables (Round answer to 0 decimal places, e.g. 5,125.)Sample size = enter a sample size rounded to 0 decimal placesPlease no written by hand solutions In a recent commercial, a weight-loss company featured testimonials touting their “miracle shake” nutritional supplement. Satisfied Customer Time (days) Weight loss (kg) Sarah, from Toronto 30 11 Zack, from New York 45 16 Eli, from Detroit 90 36 Yvette, from Montreal 10 4.5 Lynn, from San Diego 30 8.5 Kulwinder, from Vancouver 60 20 The commercial claims that the miracle shake will provide guaranteed weight loss. a) Use this data to determine the correlation between time on the diet and weight loss (either the Spearman's Rank Coefficient, or the PPMCC, but state which you are calculating. You are welcome to use a spreadsheet). b) Does the correlation imply that the miracle shakes cause weight loss? Identify any possible outliers.
- 6.Select the item that does not match with one another: 7.Group of answer choices Cause and effect diagram – synergy Histogram – data presentation Pareto Analysis – out of control FFA Diagram – “tug of war” like analysis Statement A: Histograms plot categorical variables where gaps or spaces between the bars differentiate one variable from each other. Statement B: Control chart has a central line for the average or target value for the process. Group of answer choices Both statements are true Only Statement B is correct Both statements are false Only Statement A is correct28. Which two of the following are perspectives from the balanced scorecard performance measurement model for achieving an organization's strategic objectives? Innovation and learning Firm infrastructure Operations Internal business processes Technology development 29. Which of the following is the best method for visualizing data about trends over time for several data sets on a single chart? A clustered bar chart A component bar chart A line chart A pie chartJim’s Outfitters, Inc., makes custom fancy shirts for cowboys. The shirts could be flawed in various ways, including flaws in the weave or color of the fabric, loose buttons or decorations, wrong dimensions, and uneven stitches. Jim randomly examined 10 shirts, with the following results:Shirt Defects1 82 03 74 125 56 107 28 49 610 6a. Assuming that 10 observations are adequate for these purposes, determine the three-sigma control limits for defects per shirt.b. Suppose that the next shirt has 13 flaws. What can you say about the process now?