Question: Tri - State Bank is investigating the processing time for loan applications. Samples were taken for 2 5 random days from four branches. These data

Tri-State Bank is investigating the processing time for loan applications. Samples were taken for 25 random days from four branches. These data can be found in the table below.
\table[[Day,1,2,3,4,5,6,7,8,9,10,11,12,13],[Branch 1,14,13,27,24,9,28,17,11,20,20,20,23,12],[Branch 2,14,17,19,12,16,13,22,27,17,8,9,23,16],[Branch 3,22,20,23,27,26,28,26,38,32,22,31,26,20],[Branch 4,23,19,12,8,14,12,10,21,23,6,22,22,18]]
\table[[Day,14,15,16,17,18,19,20,21,22,23,24,25],[Branch,8,15,29,21,7,6,31,26,11,22,21,9],[Branch 2,24,11,12,11,20,14,21,12,13,14,22,9],[Branch 3,22,32,14,18,29,19,34,16,35,20,37,44],[Branch 4,15,22,24,26,5,9,13,22,14,25,23,5]]
What is the overall mean? Do not round intermediate calculations. Round your answer to three decimal places.
What is the average range? Do not round intermediate calculations. Round your answer to three decimal places.
Compute the control limits for x- and R-charts. Use the control chart factors in Appendix B to answer the questions. Do not round intermediate calculations. If your answer is zero, enter "0". Round your answers to three decimal places.
For the x-chart:
LCLx:
UCLx:
 Tri-State Bank is investigating the processing time for loan applications. Samples

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!