Design a control chart to monitor the gas mileage in your car. Collect the data over time
What will be an ideal response?
The control chart would include an x-bar chart and an r-chart. A sample would be recorded every time you bought gas. The samples would be correlated, not independent. The student should comment on this.
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The fixed-period inventory model can have a stockout during the review period as well as during the lead time, which is why fixed-period systems require more safety stock than fixed-quantity systems
Indicate whether the statement is true or false
Mark borrows $15,000 to buy a new car. His loan has an interest rate of 6.5%, compounded monthly, and his monthly payment is $293.49
If instead his loan had an interest rate of 8%, how much more would he have paid in interest by the time he finished repaying his loan in 60 months? A) $225.00 B) $304.15 C) $639.60 D) $3,249.00