Consider the Following to Answer the Question(s) Below

question 25

Multiple Choice

Consider the following to answer the question(s) below:
A company that fills 12 ounce soft drink bottles wishes to monitor the quality of their process. To do this, the company has taken a series of samples of 4 bottles. The overall average fill is 12.03 ounces. The average range for the samples has been 0.06 ounces.
-What is the correct estimated process standard deviation ( ) ?

• A) 0.029
• B) 0.01
• C) 0.02
• D) 2.059
• E) 3.99

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Definitions:

Private Ownership

Refers to the goods or assets that are owned by individuals or corporations rather than by the government or the public.

Monetary Returns

The financial gains or profits from an investment or transaction, often expressed as a percentage of the initial investment.

Economic Function

The role that an individual, entity, or structure plays within the economy, influencing the distribution, production, and consumption of goods and services.

Profits and Losses

The financial gain or deficit that a business experiences, calculated as the difference between total revenues and total costs.