In a 3-sigma mean control chart for a process that is in control, what is the probability that a given sample mean will fall outside the control limits as the result of random variation alone?
Given 3-sigma control limits for a control chart, there is a 0.0026 (or 0.26%) chance that a given sample will fall outside the control limits as the result of random variation alone. (Three-sigma limits include 99.74% of the area under the normal curve).
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Mason Towel uses the units-of-production method of depreciation. A new knitting machine was purchased for $22,500 . It will produce an estimated 800,00 . units in its life and has an estimated scrap value of $2,500 . It produced 150,00 . units in the first year. Compute the book value at the end of the first year
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