Analyze this data using an appropriate control chart
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- At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.Sembotix Company has several divisions including a Semiconductor Division that sells semiconductors to both internal and external customers. The company’s X-ray Division uses semiconductors as a component in its final product and is evaluating whether to purchase them from the Semiconductor Division or from an external supplier. The market price for semiconductors is $100 per 100 semiconductors. Dave Bryant is the controller of the X-ray Division, and Howard Hillman is the controller of the Semiconductor Division. The following conversation took place between Dave and Howard: Dave: I hear you are having problems selling semiconductors out of your division. Maybe I can help. Howard: You’ve got that right. We’re producing and selling at about 90% of our capacity to outsiders. Last year, we were selling 100% of capacity. Would it be possible for your division to pick up some of our excess capacity? After all, we are part of the same company. Dave: What kind of price could you give me?…A scientist works in a lab with four summer interns and, as it is the end of the summer, he anticipates the head of the lab will ask him which of them he wants to retain. In terms of quality, the scientist and the head of the lab agree that intern A is better than intern B who is better than intern C who is better than intern D. The scientist would like to keep as many interns as possible and, given any number, the highest-quality ones. However, due to funding restrictions, the head of the lab wants to limit the number of interns that are retained. The head of the lab initially tells the scientist to select two interns to retain. After the scientist chooses two interns, the head of the lab decides whether to allow the scientist to retain a third intern. Thus, the sequence of moves is: 1) the scientist chooses two interns (both of whom are then retained); 2) the head of the lab decides either to allow the scientist to choose a third or not; and possibly 3) if the head of the lab chose…
- You are the regional sales manager For a large pharmaceutical company is hiring a district sales manager in your region there are 3 applicants for this position a male 62 years of age with 40 years of experience a female 47 years of age with 20 years of experience who is a paraplegic A female 22 years of age who is a new college graduate The hiring manager does not want to consider the 62 You're old male because he does not believe he will be able to put forth enough effort at his age he also does not want to consider the 47 year old female because he believes her appearance will cause potential customers to not buy their product he would like to hire the Twenty year old Female because even though she has no experience he feels Like his clients will be more receptive to her Appearance You are concerned about the process the hiring manager Used The recommendation raises ethical issues and may cause the company legal problems The group has been asked to create an employee…A calculus instructor uses computer-aided instruction and allows students to take the midterm exam as many times as needed until a passing grade is obtained. Following is a record of the number of students in a class of 50 who took the test each number of times. Students Number of Tests 22 1 15 2 8 3 5 4 a.Find the expected value of the number of tests taken. b.Compute the variance and the standard deviation of the number of tests taken.Based on a sample of 80 recent MBA graduates (40 male and 40 female), the following information was made available regarding their annual salaries. The standard deviation of salaries for the male graduates was $40,000 and that for the female graduates was $25,000. a.) For the male graduates, what is the probability of obtaining a sample mean salary within $10,000 of the population mean? Show work. b.) Consider the same question in (a) but for the female graduates. In which case, males or females, do we have a higher probability of obtaining a sample estimate within $10,000 of the population mean? Why? Show work. c.) Suppose that the sample mean salary of females is $125,000. Develop a 95% confidence interval estimate for the mean salary of all female graduates.
- A firm has modeled its experience with industrial accidents and found that the number of accidents per year is related to the number of employees by the regression equation Y = 6.6 + 0.098*X. R-Square is 0.72. The regression is based on 20 annual observations. The firm intends to employ 480 workers next year. How many accidents do you project? 47.04 accidents 8.66 accidents 53.64 accidents 72% of the 480 workers 28.56 accidentsA study on ethics in the workplace by the Ethics Resource Center and Kronos, Inc., revealed that 35% of employees admit to keeping quiet when they see coworker misconduct. Suppose 70% of employees who admit to keeping quiet when they see coworker misconduct call in sick when they are well. In addition, suppose that 45% of the employees who call in sick when they are well admit to keeping quiet when they see coworker misconduct. If an employee is randomly selected, determine the following probabilities:a. The employee calls in sick when well and admits to keeping quiet when seeing coworker misconduct.b. The employee admits to keeping quiet when seeing coworker misconduct or calls in sick when well.c. Given that the employee calls in sick when well, he or she does not keep quiet when seeing coworker misconduct.d. The employee neither keeps quiet when seeing coworker misconduct nor calls in sick when well.e. The employee admits to keeping quiet when seeing coworker misconduct and does not…Deborah Hollwager, a concessionaire for the Amway cener in Orlando has developed a table of conditional values for the various altenatives(stocking decision) and state of nature (size of crowd) Alternatives large average small large inventory $20,000 $10,000 -$2,000 average inventory $12,000 $12,000 $8000 small inventory $10,000 $6,000 $5,000 probabilities associated with the states of nature are 0.35 for a large crowd, 0.50 for an average crowd, and 0.15 for a small crowd. a) The alternative that provides Deborah the greatest expected monetary value (EMv) is the EMV for this decision is $________ b) For Deborah, the expected value of the perfect information (EVPI)=$______
- A suburb of Dayton, Ohio, has four local dry cleaners that compete with each other on the basis of price and service speed. Each of them can perform the same basic services at the same level of quality. The following table provides the price that each dry cleaner charges to clean a two-piece suit, as well as the quoted number of days that the service will take. Dry Cleaner Price Number of Days A $ 8.00 3 B $ 9.50 3 C $ 9.00 2 D $ 7.50 4 Which of these dry cleaners are NOT on the efficient frontier?A manufacturer of programmable calculators is attempting to determine a reasonable free-service period for a model it will introduce shortly. The manager of product testing has indicated that the calculators have an expected life of 30 months. Assume product life can be described by an exponential distribution. T / MTBF e-T /MTBF T / MTBF e-T /MTBF T / MTBF e-T /MTBF 0.10 0.9048 2.60 0.0743 5.10 0.0061 0.20 0.8187 2.70 0.0672 5.20 0.0055 0.30 0.7408 2.80 0.0608 5.30 0.0050 0.40 0.6703 2.90 0.0550 5.40 0.0045 0.50 0.6065 3.00 0.0498 5.50 0.0041 0.60 0.5488 3.10 0.0450 5.60 0.0037 0.70 0.4966 3.20 0.0408 5.70 0.0033 0.80 0.4493 3.30 0.0369 5.80 0.0030 0.90 0.4066 3.40 0.0334 5.90 0.0027 1.00 0.3679 3.50 0.0302 6.00 0.0025 1.10 0.3329 3.60 0.0273 6.10 0.0022 1.20 0.3012 3.70 0.0247 6.20 0.0020 1.30 0.2725 3.80 0.0224 6.30 0.0018 1.40 0.2466 3.90 0.0202 6.40 0.0017 1.50 0.2231 4.00 0.0183 6.50 0.0015 1.60 0.2019 4.10 0.0166 6.60 0.0014 1.70 0.1827 4.20…Oilco must determine whether or not to drill for oil in the South China Sea. It costs $90,000 to drill for oil. If oil is found, the revenue is estimated to be $700,000. At present, Oilco believes there is a 40% chance that the field contains oil. Before drilling, Oilco can hire (for $20,000) a geologist to obtain more information about the likelihood that the field will contain oil. There is a 70% chance that the geologist will issue a favorable report and a 30% chance of an unfavorable report. Given a favorable report, there is an 60% chance that the field contains oil. Given an unfavorable report, there is a 10% chance that the field contains oil. Determine the optimal strategy, the expected profit, EVSI and EVPI. What is the Expected Value of Sample Information (EVSI)? Select one: a. EVSI = $41,000 b. EVSI = $42,000 c. EVSI = $26,000 d. EVSI = $20,000