You are the head of an ore mining company that supplies the Lodge Cast Iron company with ore to use in their cast iron cookware. As with many manufacturers, consistency of inputs is key, so part of your contract is that Lodge Cast Iron takes random samples of the ore you provide and checks the density. If the ore density each month remains within three standard deviations from the mean for the measurement period (April – August), you receive a bonus payment of $450,000 per month. Instructions: • Create a Pivot Table of the average Ore Pulp Density for each day. • Use that data to calculate the mean (average), and the upper and lower control limits using 3x standard deviation. • Create a control chart (hint: you can either draw in the Mean, UCL and LCL lines (Insert->shapes) or Cut and Paste the data out of the Pivot Chart to create a table with the UCL, Mean and LCL on it.) • All charts should be well labeled with descriptive titles and axis labels. • Create a Slide that includes the chart, and a bullet point or two about the bonus payment you are expecting. Requirements: • A one-page slide including the chart and bullet point(s) about the bonus payment you are expecting. • Excel workbook showing your formulas and work.
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