SCENARIO 8-13-A
You Are the Quality Control Manager of a Water

question 23

Short Answer

SCENARIO 8-13-A
You are the quality control manager of a water bottles company. One of the biggest complaints in the
past years has been the breakage and, hence, the concern on the durability of the connector between
the lid and the bottle which many users use as a handle for the bottles. To collect evidence before
implementing any modification to the production process, your department has subjected 50 water
bottle to durability test and the following data on the number of times the handles have been used to
lift the bottles before they break are contained in the file Scenario8-13-DataA.XLSX. $$\begin{array} { l l l l l l l l l l } 495 & 499 & 502 & 500 & 491 & 498 & 498 & 495 & 488 & 516 \\513 & 486 & 504 & 503 & 493 & 504 & 489 & 500 & 495 & 499 \\501 & 507 & 511 & 496 & 486 & 497 & 510 & 504 & 493 & 482 \\511 & 502 & 520 & 514 & 486 & 514 & 500 & 505 & 512 & 500 \\504 & 498 & 503 & 514 & 474 & 489 & 488 & 506 & 517 & 490\end{array}$$ Assume that the population standard deviation is 5 and the number of times the handles have been
used to lift the bottles before they break follows a normal distribution.
-Referring to Scenario 8-13-A, the lower and upper bounds of the 95% confidence interval for the
mean number of times the handles have been used to lift the bottles before they break are ____ and
_____.

Understand the concept and operational details of the cash conversion cycle.

Identify the reasons for holding cash and the concept of precautionary demand for cash.

Understand how lockbox systems and float management can improve a firm’s cash management.

Recognize the trade-offs involved in carrying either too much or too little cash.

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Definitions:

Burglary

The illegal entry into a building with the intent to commit a crime, particularly theft.

Guard Dogs

Dogs trained to protect property and people by watching over them and providing a deterrent to potential intruders or threats.

Fences and Locks

Physical security measures used to protect property and deter unauthorized access.

Social Design

The practice of creating social environments and structures to address societal issues and improve community well-being.