Suppose that your business is operating at the three-sigma quality level. If projects have an average improvement rate of 50% annually, how many years will it take to achieve six-sigma quality?
Answer to relevant QuestionsSuppose that your business is operating at the four-and-a-half-sigma quality level. If projects have an average improvement rate of 50% annually, how many years will it take to achieve six-sigma quality? What information would you have to collect in order to build a discrete-event simulation model of a retail branch-banking operation? Discuss how this model could be used to determine appropriate staffing levels for the bank. What would motivate a company to compete for the MBNQA? Discuss the relationship between a control chart and statistical hypothesis testing. Construct a normal probability plot of the failure time data in Exercise 4.6. Does the assumption that failure time for this component is well modeled by a normal distribution seem reasonable?
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