50.1K

Verified Solution

Question

Accounting

Experiments Trial 1 Trial 2
1 61 83
2 59 94
3 41 106
4 45 130
5 35 106
6 57 75
7 45 101
8 85 94
9 44 90
10 62 116
11 103 99
12 96 141
13 96 140
14 88 134
15 59 84

Reference the above table data

You are a manufacturer of outdoor picnic furniture (benches, picnic tables, litter receptacles, etc.). You are developing a new (experimental) manufacturing processes.

The data you gathered is cycle time (minutes) of the most important operation. Faster is better, and the goal is to do it in less than 96 minutes. Assume the faster cycle time is the experimental manufacturing process. Provide the p-value and confidence level for all of Problem 1. In addition, make sure to explain if the trials are different for each metric, based on alpha = 10% (or 0.10). Compare sample data for Trial 1 versus Trial 2.

1) The average cycle time of one trial is better than the other

2) The % less than 96 minutes for one trial is better than the other

3) The variation of one trial is better than the other

4) Assume the faster cycle time is will require an investment in new equipment for all of your manufacturing plants. You need to be 97% confident to make your decision to invest in one process versus the other. What is your decision?

5) Analyze whether the average for the two trials is different, lining up the data by

experiment number

6) Calculate the 95% average and proportion confidence interval for both trials.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students