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MM 305 Unit 9 Project Problems




Question;3. Precision Manufacturing has a government contract to;produce stainless steel rods for use in military aircraft. Each rod is required;to be 20 millimeters in diameter. Each hour, random samples of size n = 4 rods;are measured to check process control. Five hours of observations yielded the;following;Diameter;Time Rod 1 Rod 2 Rod;3 Rod 4;9 A.M. 19.8 20.4 19.9 20.3;10 A.M. 20.1 20.2 19.9 19.8;11 A.M. 19.9 20.5 20.3 20.1;Noon 19.7 19.8 20.3 20.2;1 P.M. 19.7 20.1 19.9 19.9;1. Construct;the xbar-chart and the R-chart.;2. Is the;process in control?;4. Modern Electronics specializes in manufacturing modern;electronic components. It also builds the equipment that produces the;components. Modern Electronics is considering building a new facility but the;estimated profits would be impacted by the type ofMARKET that develops. The;probability for a strongMARKET is 0.3, for a fair MARKET is 0.5, and for a poor;MARKET is 0.2. You are responsible for advising the president of Modern;Electronics on the type facility that should be built or to not build a;facility at all. The table shows the estimated profits under each market and;for each size facility.;Estimated Profits;Strong Market Fair Market Poor;Market;Build a large facility 550,000 110,000 -310,000;Build a medium-size facility 300,000 129,000 -100,000;Build a small facility 200,000 100,000 -32,000;Do not build a facility 0 0 0;1. Provide a;recommendation to the president that maximizes profits;2. Provide a;second recommendation to the president that minimizes regret.;5. Consulting income at Kaplan Associates for the period;February ? July is shown in the table below. Assume that the initial forecast;for February is $65,000. Use Exponential smoothing to forecast August?s income.;MONTH INCOME;($1,000);February 70.0;March 68.5;April 64.8;May 71.7;June 71.3;July 72.8;1. Use a;smoothing constant of? = 0.2.;2. Use a;smoothing constant of? = 0.5.;3. Which;forecasting constant is best in this situation?;6. Johnson Construction Company is in the process of;installing power lines to a large housing development. The company wants to;minimize the total length of wire used, which would minimize the company?s;cost. The housing development is shown below. Each house has been numbered, and;the distances between houses are given in hundreds of feet.;1. What do;you recommend to Johnson Construction Company?;8. From the States Data Set the following output for the;Income in 2000 and for the Income in 2010 was created.;1. Which;variable has the greatest relative variation?;9. You are a consultant working for Kaplan Consulting. The;U.S. Department of Labor has requested assistance in evaluating the impact of;economic stimulus on the unemployment rate. From the States Data Set the;following t test was conducted to answer the question;?Has there been a significant reduction in the national;unemployment rate between January and June??;1. What is;the Null and the Alternative Hypotheses?;2. What is;your level of alpha (?)?;3. What is;your conclusion?;4. What is;your answer to the question?;10. The Governor of a southern state has asked Kaplan;Consulting to determine if the state were able to increase the percentage of;its population with a Bachelor?s Degree to 50%, what might be the expected;median household income based on 2010 data? Here is the output from the;Regression procedure from Excel.;1. What;would be the predicted median household income if the percentage of the;population in the state were 50% or 50?


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