A Random Sample of 31 Sales Charge Showed a Sample

question 55

Short Answer

A random sample of 31 sales charge showed a sample standard deviation of $50.What is the 90% confidence interval estimate of the population standard deviation?

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Definitions:

Control Chart

A control chart is a statistical tool used to monitor, control, and improve process performance over time by identifying sources of variation.

Process Variability

The natural or inherent variations in a process, reflecting the differences in output or results when the process is repeated under the same conditions.

S Chart

A type of control chart used for monitoring the variability of a process over time, particularly when sample sizes are constant.

Process Capability Index

A statistical measure that quantifies how well a process can produce output within specification limits compared to its natural variability.