SCENARIO 8-2 A Quality Control Engineer Is Interested in the Mean Length

question 56

Short Answer

SCENARIO 8-2
A quality control engineer is interested in the mean length of sheet insulation being cut automatically by machine.The desired mean length of the insulation is 12 feet.It is known that the standard deviation in the cutting length is 0.15 feet.A sample of 70 cut sheets yields a mean length of 12.14 feet.This sample will be used to obtain a 99% confidence interval for the mean length cut by machine.
-Referring to Scenario 8-2,suppose the engineer had decided to estimate the mean length to within 0.03 with 99% confidence.Then the sample size would be .

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Definitions:

Central Planning

An economic system where the government or central authority makes all decisions regarding the production and distribution of goods and services.

Coordination Problem

The challenge of aligning decisions and actions among various parties to achieve a common goal.

Inputs

Resources such as labor, materials, and capital that are used in the production process to create goods or services.

Enterprise Managers

Individuals responsible for planning, directing, and overseeing the operations and fiscal health of a business unit, division, department, or an operating unit within an organization.