Question: Describe the difference between assignable variation and chance variation.

Describe the difference between assignable variation and chance variation.

Step by Step Solution

★★★★★

3.29 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Chance variation is random in nature and b... View full answer

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

Document Format (2 attachments)

PDF file Icon

1511_605d88e138352_675595.pdf

180 KBs PDF File

Word file Icon

1511_605d88e138352_675595.docx

120 KBs Word File

Students Have Also Explored These Related Statistical Techniques in Business Questions!

Q:

Describe the difference between base and derived elements.

Q:

Describe the difference between short- and long-range forecasts.

Q:

Describe the difference between an account receivable and an account payable.

Q:

Describe the difference between assignable variation and chance variation. Chance variation is in nature and the cause is which be entirely eliminated. Assignable variation is in nature and it is...

Q:

Question 1 Managing the Risk Management Function CLO6 (20 Marks) Out of 110 diesel engines tested, a rework and repair facility found 9 had leaky water pumps, 15 had faulty cylinders, 4 had ignition...

Q:

How would you describe the difference between direct variation and joint variation in words? Use examples to help illustrate. Pick a field of study of interest to you and give an example of variation...

Q:

1.How would you describe the difference between direct variation and joint variation in words? Use examples to help illustrate. 2.Pick a field of study of interest to you and give an example of...

Q:

How would you describe the difference between direct variation and joint variation in words? Use examples to help illustrate. Give an example from real life where composite functions are utilized....

Q:

How would you describe the difference between direct variation and joint variation in words? Use examples to help illustrate. Give an example from real life where composite functions are utilized....

Q:

How would you describe the difference between direct variation and joint variation in words? Use examples to help illustrate

Q:

Based on the product demand for the past five years for XYZ Company. Using two-year average and trend analysis identify which method is the most appropriate and make a forecast for year six. What...

Q:

The mechanism shown rotates anticlockwise at 120 rpm and reciprocates the piston to its top and bottom dead centre positions, the mechanism arm lengths are shown as 20 cm and 50 cm. Determine an...

Q:

Given an exponential distribution with l 5 20, what is the probability that X is: a. less than 4? b. greater than 0.4? c. between 0.4 and 0.5? d. less than 0.4 or greater than 0.5?

Q:

=+c. If the average customer had a choice, which of the three pricing systemsthe current single price, the Daryls proposal, or Larrys proposalwould he choose?

Q:

The American Water Works Association reports that the per capita water use in a single-family home is 69 gallons per day. Legacy Ranch is a relatively new housing development. The builders installed...

Q:

A cola-dispensing machine is set to dispense 9.00 ounces of cola per cup, with a standard deviation of 1.00 ounce. The manufacturer of the machine would like to set the control limit in such a way...

Q:

The owners of the Westfield Mall wished to study customer shopping habits. From earlier studies, the owners were under the impression that a typical shopper spends 0.75 hour at the mall, with a...

Q:

Use the following corn futures quotes: Suppose you sell 18 of the May corn futures at the high price of the day. You close your position later when the price is 467.625. Ignoring commission, what is...

Q:

Rewrite the following two statements using the structure pointer operator: (*rptr).windSpeed = 50; *(*strPtr).num = 10;

Q:

Using the 2001 mortality tables (Table 2 is male and Table 3 is female); find the following probabilities: 1. A male age 20 will die before age 60. 2. Both a male age 60 and a female age 63 will die...