parameter is said to lie between those two numbers. For example‚ a < x < b represents an interval estimate of the population mean μ. It expresses that the population mean is greater than a but less than b. Confidence Intervals To express the precision and uncertainty that are associated with a particular sampling method statisticians use a confidence interval. A confidence interval consists of three parts: * A confidence level. * A statistic. * A margin of error. The confidence
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Jones Tools Jones Tools‚ located in Montreal‚ produces precision equipment which it sells to all the aircraft producers in Canada‚ the United States and Mexico. Included in the components it purchases are small precision forgings‚ weighing anywhere from 2 pounds to 30 pounds. Jones’s annual purchase is 7‚000 of these forgings. The primary supplier of these precision forgings is Smith Metals Canada Limited‚ located in Vancouver. Smith Metals is known for their reputation of very high quality
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Laser‚ a fiber laser machine for manufacturing operations that require high-precision sheet metal processing. Charlotte-Gastonia-Rock Hill‚ NC-SC - Murata Machinery USA‚ Inc.‚ a world leader in the manufacture and design of high-productivity metal fabrication machines and automation‚ has launched www.fiberlasermachines.com‚ a new website featuring its fiber laser for manufacturing operations that require high-precision sheet metal processing. The Muratec LS3015FC Fiber Laser offers an unrivaled
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using an analytical balance‚ weighing by difference. After doing the calculations to analyze the data‚ some of the values were rejected from their data sets. Overall‚ the results of the calculations denote that the data values gathered have high precision since the pooled standard deviation is low. The experiment shows that in order to analyze data properly and objectively‚ one must apply statistical concepts. ------------------------------------------------- Introduction All measurements are subjected
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The purpose of this memo is to describe the sampling process and illustrate how sampling can be used during an audit. This memo will begin by defining what sampling is‚ when it should be used‚ and the risks associated with it. The memo will then continue to describe the basic steps involved with sampling‚ define terms within those steps‚ and describe the use of sampling in the audit by identifying two situations in which sampling is used in an audit. Sampling is the objective of which is to make
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Chapter 8: Cost Estimation Strategic Role of Cost Estimation * Cost Estimationthe development of a well-defined relationship b/t a cost object and its cost drivers for the purpose of predicting the cost * Facilitates strategic mgmt is 2 ways * Helps predict future costs * Helps identify key cost drivers for a cost object and which driver is most useful * Using Cost Estimation to Predict future costs * Strategic mgmt requires accurate estimates for the
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It is important to differentiate between the accuracy and the precision of a result. The accuracy of a measurement refers to the "closeness" of a numerical value to the actual or theoretical value. The accuracy is usually measured as the percent difference from the theoretical value using the expression: Percent difference = The precision refers to the “repeatability” of a measurement. The two factors that determine the precision are the measuring instrument (LOR) and the “measurer‚” the person
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to determine the optimum operating ranges of eddy current sensor‚ to improve the sensor’s measurement accuracy. This method is used in commercial eddy current sensor‚ resulting from the improvement of precision. 1.Introduction Home and abroad‚ researchers in enhancing the sensor precision theoretical and technical aspects do a large Eddy current sensor uses eddy current principle number of studies [2-8]‚such as associated with [1]‚ through measuring the relative position of metal
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ml/ min and effluents were monitored at 255 nm. The retention times of chlorpheniramine maleate and phenylephrine were found to be 3.13 min and 4.58 min‚ respectively. The method was validated in terms of linearity‚ range‚ specificity‚ accuracy‚ precision‚ limit of detection (LOD) and limit of quantitation (LOQ). The linearity for both the drugs was found in the range of 10-70 μg/ml. The % recoveries of chlorpheniramine maleate and phenylephrine were found to be between 101.09 and 98.99. The proposed
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of Experiments on and off the Pages of “Biometrika”. Biometrica‚ 88(1): 53-97. 3. Bartley‚ M.S. 1936. Square-root transformation in analysis of variance. J.R. Stat. Soc. Suppl. 3:68-78 4 5. Campbell B.T. and Bauer‚ P.J. (2007): Improving the precision of cotton performance trials conducted on highly variable soils of the South-Eastern USA coastal plain. Blackwell synergy-plant breeding‚ 126‚ 622-627. 6. Cochran W.G. and Cox‚ G.M. (1957): Experimental Designs. John Wiley & Sons‚ Inc. New York
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