A Belt working in a supply chain environment has to make a decision to change suppliers of critical raw materials for a new product upgrade. The purchasing manager is depending on the Belt’s effort requiring that the average cost of an internal critical raw material component be less than or equal to $3,800 in order to stay within budget. Using a sample of 38 first article components, a Mean of the new product upgrade price of $3,680, and a Standard Deviation of $120 was estimated. In order to increase the Long Term Z value to 5, what is the maximum long term variation in pricing the Belt can accept for his upgraded critical raw material component?
Correct Answer:C
SPC Charts are used extensively in different business and decision-making environments. In this example a vendor is being selected based on speed of delivery. Which of the conclusions would help you pick a vendor for your needs regarding lead-time of delivery from your vendors?(Note:There are 4 correct answers).
Correct Answer:BCDE
Sally and Sara sell flower pots at their garage sale. Sally motivates Sara mentioning that they will sell a minimum of 15 pots per day if the outside temperature exceeds 60o F. From a sample, whose population is assumed to follow a Normal Distribution, taken for 30 days at 60 degrees or more an average of 13.6 pots per day were sold with a Standard Deviation of 0.7 pots. For the sales accomplished above, what test would validate if they met their requirements?
Correct Answer:D
Which statement(s) are correct about the Factorial Plot shown here?(Note:There are 3 correct answers).
Correct Answer:ABC
A Belt has determined that the inventory of repair parts at a rework station can be reduced by 45%. According to Cost of Poor Quality (COPQ) definitions inventory reduction would be considered ______.
Correct Answer:D