Examine the Statistical Process Control outputs below. Answer the following questions.
a. What is the sample size?
b. What is the number of samples?
c. What is the mean of sample 8; what is the range of sample 10?
d. Is this process in control? Explain-a simple Yes or No is insufficient.
e. What additional steps should the quality assurance team take? UCL (Upper control limit) CL (Center line) LCL (Lower control limit) Sample Number Sample 1 Sample 2 Sample 3 Sample 4 Sample 5 Sample 6 Sample 7 Sample 8 Sample 9 Sample 10 Item 1 12.211.91212.512.212.112.31212.112.6 Mean 12.685612.3610.0344 Item 2 12.612.512.212.512.812.512.412.112.812.4 Item 31212.412.912.412.711.812.812.412.412.1 Range 1.01930.670 Item 412.112.713.112.81212.312.412.211.912.3 Mean 12.22512.37512.5512.5512.42512.17512.47512.17512.312.35 Range 0.60.81.10.40.80.70.50.40.90.5
Signaling Theory
A theoretical framework explaining how individuals and businesses convey information about themselves to differentiate from others, often in contexts like job markets or product quality.
Human-Capital View
A perspective that treats individuals' skills and knowledge as valuable assets that can improve productivity and contribute to economic growth.
Productivity
A measure of efficiency that calculates the amount of output produced per unit of input, such as labor or capital.
Signaling
An action taken by an informed party to reveal private information to an uninformed party, often seen in job markets and education.