The Money Pit Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each n were taken during a period when the process was believed to be in control. The times to complete the transactions were measured. The Money Pit Mortgage Company made some changes to the process and undertook a process capability study. The following data were obtained for 15 samples of size 5. Based on the individual observations, management estimated the process standard deviation to be 4.63 (days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 10 and 23. 4 5 6 7 1 2 13 15 7 11 11 19 12 12 11 2 19 9 16 8 14 7 20 6 10 17 g 19 13 16 12 18 10 12 9 4 8 Sample 3 8 9 13 14 15 Mean 17 Range 3 a. Calculate the process capability index and the process capability ratio values The process capability index 0px -0.42. (Enter your response rounded to three decimal places) The process capability ratio - 0.467 (Enter your response rounded to three decimal places) b. Suppose management would be happy with three-sigma performance. What conclusions is management likely to draw from the capability analysis? Since Cox is less than the critical value, the process is not capable at the three-sigma level Since the critical value, this indicates that less than greater than equal to The Money Pit Mortgage Company in Interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken during a period when the process was believed to be in control. The times to complete the transactions were measured The Money Pit Mortgage Company made some changes to the process and undertook a process capability study. The following data were obtained for 15 sample of size 5. Based on the individual observations, management estimated the process standard deviation to be 4.63 days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 10 and 23 2 13 Sample Mean Range 1 13 7 3 11 2 15 11 4 19 9 5 16 8 6 14 7 7 20 6 8 19 13 9 16 12 10 17 11 19 3 12 12 4 18 10 14 17 8 15 12 9 a. Calculate the process capability index and the process capability ratio values The process capability index Cpk = 0.42 (Enter your response rounded to three decimal places.) The process capability ratio Cp = 0.467 (Enter your response rounded to three decimal places.) b. Suppose management would be happy with three-sigma performance. What conclusions is management likely to draw from the capability analysis? Since Cpk is less than the critical value, the process is not capable at the three-sigma level Since Co is the critical value, this indicates that the process variability is too large the process is not centered adequately then Check