Your company is evaluating a proposed new processing line to build a new product type. The...

 

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Your company is evaluating a proposed new processing line to build a new product type. The performance measure of most interest for this processing line is average number of parts in the system. You have created a verified and validated simulation model of the proposed system design, and data from 10 replications is in Table 2. For the questions below: 1. Estimate percentages to 3 decimal places (i.e. 5.789%) 2. If using less than 30 replications, use a student t value and not a z value. a) (14 pts) Suppose that you want to estimate a 95% confidence interval half-width to be less than 3.75% of the mean number of parts in the system. Have you met that goal with the data from 10 replications? If not, estimate the additional number of replications you would need to achieve your goal. b) (14 pts) Suppose that you want to estimate the mean number of parts in the system to within + 2.0 number of parts with 90% confidence. Have you met that goal with the data from 10 replications? If not, estimate the additional number of replications you would need to achieve your goal. Table 2. Average number of parts in the system Average Replication Number of Parts 1 83.67 2 84.98 3 76.99 4 92.25 5 92.86 6 7 8 9 10 85.92 88.03 91.37 88.96 91.30 Your company is evaluating a proposed new processing line to build a new product type. The performance measure of most interest for this processing line is average number of parts in the system. You have created a verified and validated simulation model of the proposed system design, and data from 10 replications is in Table 2. For the questions below: 1. Estimate percentages to 3 decimal places (i.e. 5.789%) 2. If using less than 30 replications, use a student t value and not a z value. a) (14 pts) Suppose that you want to estimate a 95% confidence interval half-width to be less than 3.75% of the mean number of parts in the system. Have you met that goal with the data from 10 replications? If not, estimate the additional number of replications you would need to achieve your goal. b) (14 pts) Suppose that you want to estimate the mean number of parts in the system to within + 2.0 number of parts with 90% confidence. Have you met that goal with the data from 10 replications? If not, estimate the additional number of replications you would need to achieve your goal. Table 2. Average number of parts in the system Average Replication Number of Parts 1 83.67 2 84.98 3 76.99 4 92.25 5 92.86 6 7 8 9 10 85.92 88.03 91.37 88.96 91.30

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a Estimate 95 Confidence Interval HalfWidth to be less than 375 of the Mean Number of Parts in the System To estimate a 95 confidence interval halfwidth to be less than 375 of the mean number of parts ... View the full answer