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A manufacturer of windows produces one type that has a plastic coating.The specification limits for the plastic coating are 30 and 70.From time to time the plastic coating can become uneven.Therefore,in order to keep the coating as even as possible,thickness measurements are periodically taken at four different locations on the window.15 subgroups were observed,each consisting of four thickness measurements,with the following results: mean of the means = = 50.05,and average range = 8.85.Calculate the center line for the X-bar chart.
Demand Function
A mathematical representation of the relationship between the quantity demanded of a good and its influencing factors, like price.
Cobb-Douglas
A type of production function used in economics to represent the relationship of an output to inputs, specifically capital and labor, with constants denoting the output elasticity of each input.
Perfect Substitutes
Two or more goods that can be used in place of one another with no loss of utility for the consumer, resulting in constant marginal rates of substitution.
Perfect Substitutes
Goods or services that can be used in exactly the same way and are interchangeable by consumers.
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