Historically,the Average Time to Service a Customer Complaint Has Been

question 89

Multiple Choice

Historically,the average time to service a customer complaint has been 3 days and the standard deviation has been 0.50 day.Management would like to specify the control limits for an chart with a sample size of 10- and 3- sigma limits.Suppose the next sample of 10 yielded the following result: 3.2,2.1,3.6,2.8,3.9,3.5,2.7,4.1,2.6,and 3.3.What conclusion can be drawn?

• A)Assuming the process variability is in control,the process average is also in statistical control.
• B)Assuming the process average is in control,the process average is out of statistical control.
• C)The sample size should be increased.
• D)No conclusion can be drawn because there is insufficient data.

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Definitions:

Incremental

Refers to the additional changes in costs or revenues that result from a business decision.

Capital Budgeting

The process used by companies to evaluate and select long-term investments that are expected to yield the highest returns over time.

Cash Flows

The comprehensive total of funds circulating in and out of a business, markedly affecting its ability to liquidate assets.

Erosion

The gradual reduction or diminution of something, often referring to the wearing away of assets, margins, or competitive advantage over time.