1. Clearly explain why the Taguchi Loss Function is a superior technique of achieving Quality Control, as compared to the traditional 'Goalpost' approach. You may draw a diagram to illustrate your answer.

2. The Taguchi Loss Function for an engineering company is given by k(x-T)2, where k is a positive real number, T is the target specification in cm, and x is the variable (length) under consideration. Assume that the specification tolerances for the length of a machine part are (5+0.37 ) cm and (5-0.37) cm. The value of the target length is 5 cm, i.e. T=5 cm and k=9,300. What is the company's estimated loss if x takes the value of 5.50 cm ?