The Money Pit Mortgage Company is 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 samples of size 5 . Based on the individual observations, management estimated the process standard deviation to be 4.38 (days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 5 and 23. a. Calculate the process capability index and the process capability ratio values. The process capability index Cpk=. (Enter your response rounded to three decimal places.) The process capability ratio Cp=.(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 the critical value, the process capable at the three-sigma level. Since Cp is value, this indicates that c. What reme equal to su suggest that management take? A. The s greater than revised. B. Mana ver target process capability ratio. C. The v less than nust be greatly reduced. D. Nothing. The process is capable. The Money Pit Mortgage Company is 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 samples of size 5 . Based on the individual observations, management estimated the process standaro deviation to be 4.38 (days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 5 and 23. a. Calculate the process capability index and the process capability ratio values. The process capability index Cpk=. (Enter your response rounded to three decimal places.) The process capability ratio Cp=. (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 the critical value, the process capable at the three-sigma level. Since Cp is the critical value, this indicates c. What remedial actions, if any, do you suggest that mane A. The specification limits must be revised. B. Management should use a lower target process ca, C. The variability of the process must be greatly reduced. D. Nothing. The process is capable. The Money Pit Mortgage Company is 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 samples of size 5 . Based on the individual observations, management estimated the process standard deviation to be 4.38 (days) for use in the process capability analysis. The lower and upper specification limits (in days) for the mortgage process times were 5 and 23. a. Calculate the process capability index and the process capability ratio values. The process capability index Cpk=. (Enter your response rounded to three decimal places.) The process capability ratio Cp=. (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 the critical value, the process capable at the three-sigma level. Since Cp is the critical value, this indicates that c. What remedial actions, if any, do you suggest that managem A. The specification limits must be revised. B. Management should use a lower target process capabil C. The variability of the process must be greatly reduced. D. Nothing. The process is capable