Question: The target value determined for the target value with an annual production of 50,000 pieces is 10, the tolerance is = 0.10, the cost incurred

The target value determined for the target value

The target value determined for the target value with an annual production of 50,000 pieces is 10, the tolerance is = 0.10, the cost incurred for the outside of the tolerances is $4, the estimated average from the sampling is 9.95 and the standard deviation is 0.05. If the process, improvements can be made with an annual cost of $10,000 and the average and standard deviation values after improvement are observed as 10.01 and 0.035, respectively; What is the total cost after improvement? [20p]

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