A manufacturer of computer chips has a computer hardware company as its largest customer. The computer hardware company requires all of its chips to meet specifications of 1.2 cm. The vice-president of manufacturing, concerned about a possible loss of sales, assigns his production manager the task of ensuring that chips are produced to meet the specification of 1.2 cm. Based on the production run from last month, a 95% confidence interval was computed for the mean length of a computer chip resulting in: 95% confidence interval: (0.9 cm, 1.1 cm) What are the elements that the production manager should consider in determining his company's ability to produce chips that meet specifications? Do the chips produced meet the desired specifications? What reasons should the production manager provide to the vice-president to justify that the production team is meeting specifications? How will this decision impact the chip manufacturer's sales and net profit? My class is called quantitative analysis. It is on a Masters level. My Professor said to think about these points as well: What happens if you were to expand the CI and what if you were to contract it. You can explain this if the specification tend to be included and at what cost? Consider sample size, number of samples and population vs sample parameters. For question 1 the professor told me to consider stats parameters such as availability of samples, sample size, and variance factors. these should be explained in your answ
A manufacturer of computer chips has a computer hardware company as its largest customer. The computer hardware company requires all of its chips to meet specifications of 1.2 cm. The vice-president of manufacturing, concerned about a possible loss of sales, assigns his production manager the task of ensuring that chips are produced to meet the specification of 1.2 cm.
Based on the production run from last month, a 95% confidence interval was computed for the mean length of a computer chip resulting in:
95% confidence interval: (0.9 cm, 1.1 cm)
- What are the elements that the production manager should consider in determining his company's ability to produce chips that meet specifications?
- Do the chips produced meet the desired specifications?
- What reasons should the production manager provide to the vice-president to justify that the production team is meeting specifications?
- How will this decision impact the chip manufacturer's sales and net profit?
My class is called quantitative analysis. It is on a Masters level.
My Professor said to think about these points as well:
What happens if you were to expand the CI and what if you were to contract it. You can explain this if the specification tend to be included and at what cost? Consider sample size, number of samples and population vs sample parameters.
For question 1 the professor told me to consider stats parameters such as availability of samples, sample size, and variance factors. these should be explained in your answer.
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