2020, OPMT-600 LESSON 41Lesson 4:Understanding Statistical Words and SymbolsWe do not inherit the earth from our parents. We borrow it from our children.Native American sayingPrior to this lesson, the following videos may prove helpful.Video LinksEnabled: Statistics TrackingHere is a link to a video which describes the overview of the purpose of descriptive statistics: Video 1 looks at the difference between parameters and statistics, and introduces a number of terms such as mean, median, and mode. Review the Example Problem below before viewing Video 2. Example ProblemDetermine the mean, median, and mode of the two random variables below:Xi= Life of Car Battery i, in yearsYi= Life of Car Battery i, in yearsXiYi3 32 82 13 04 33 33 04 93 330Based only on their means, medians, and modes, which battery would you purchase if they were priced the same?Video 2 begins the quest for a number that will measure the variability of the random variable. We look at the range and mean absolute deviation.
2020, OPMT-600 LESSON 42Video 3 looks at changing data into information and using inferential statistics to create knowledge. We need to correct two of the formulas shown in Video 3 at approximately 2:48 into the video.Video ErrorsCorrectionX X-μ(X-X)2XX-μ(X-μ)21144 = ∑ (X –)21144 = ∑ (X-μ)2Video 4 looks at the sample variance formula, the truestandard deviation, and other concepts and terms.Here are some videos which show how to use Excel to create Control Charts. I recommend playing the videos in the order listed. Control Chart Setup: This shows the initial spreadsheet setup for a problem involving temperature measurements in a freezer. All the calculations for averages, standard error, and control lines are done. The chart is produced in the next video.Control Chart Step 2: This continues the Freezer Control Chart example started in the previous video.Control Chart Formatting: This continues the Freezer Control Chart example, and discusses how to format the chart for legibility.Here is a video, that should be viewed before doing part 2., which discusses control charts for averages: Control Charts for Averages.Here is a video that discusses the informational value of a control chart: Control Charts. Itshould be viewed before you answer part 5.
2020, OPMT-600 LESSON 43Before doing this Exercise restate the Oath and review the 5 Phases of Metric DesignQuestion 1:Company officials wish to determine the labor costs of producing a specialty widget thatrequires extensive hand work. They select 16 workers at random from their labor forceof 423 and have them spend a day building the widget.