Scion Capital is interested in monitoring the performance of the mortgage process. Fifteen samples of...
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Scion Capital is interested in monitoring the performance of the mortgage process. Fifteen samples of six completed transactions each were taken during a period when the process was believed to be in control. The times to complete the transaction were measured. The means and ranges of the mortgage process transaction times, measured in days, are as follows. Subsequently, the samples of size six were taken from the process every week for the next 10 weeks. The times were measured and the following results obtained. a. Construct the control charts for the mean and the range, using the original 15 samples. Were these samples sufficient for developing the control chart? Explain your answer. b. On the control charts, plot the sample values subsequently obtained and comment on whether the process is in control
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