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Quantitative Measures at Carstab
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A 7 page paper discussing how the use of statistics and probability can be applied in making business decisions that affect the bottom line. The example used is a chemical manufacturer (Carstab) that produces a product needed by many customers but needed by one in higher grade. Most of the lots of product that Carstab makes is acceptable to this single customer, but nearly half are not. Carstab develops a pretest resulting in indicating that 90% of what the company sends the customer will be acceptable. The paper discusses this scenario, along with a "what if" discussion of a different set of probability values. Bibliography lists 8 sources.
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Pages:
7
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Filename:CC6_KSprobCarstab.rtf |
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Paper Title:
Quantitative Measures at Carstab
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