A Foreman Wants to Use An $\overline { \mathrm { X } }$

question 15

Multiple Choice

A foreman wants to use an $\overline { \mathrm { X } }$
Chart to control the average length of the bolts manufactured.He has recently collected the six samples given below. $$\begin{array} { c c c c c } \text { Sample } & & & & \\1 & 1.99 & 2.01 & 2.02 & 2.02 \\2 & 2.00 & 2.00 & 2.01 & 2.01 \\3 & 1.98 & 1.99 & 2.01 & 1.98 \\4 & 2.01 & 2.02 & 2.02 & 1.99 \\5 & 1.99 & 1.99 & 2.01 & 1.99 \\6 & 2.03 & 1.98 & 2.03 & 2.04\end{array}$$
Calculate the average range.

• A).036
• B).18
• C).030
• D).05

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Definitions:

Investing Cash Flows

Cash movements related to the purchase and sale of investments and long-term assets, reflecting a company's investment activities.

Gross Margin

The difference between sales revenue and cost of goods sold, expressed as a percentage of sales revenue, indicating the efficiency of a company in managing its production costs.

Accounts Receivable Turnover

A financial ratio that measures how efficiently a company collects revenue by comparing net credit sales to the average accounts receivable over a period.

Inventory Turnover

A ratio that shows how often a company's inventory is sold and replaced over a specific period, indicating efficiency in managing stock levels.