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A Belt working in a supply chain environment has to make a decision to change suppliers of critical raw materials for a new product upgrade. The purchasing manager is depending on the Belt's effort requiring that the average cost of an internal critical raw material component be less than or equal to $3,600 in order to stay within budget. Using a sample of 42 first article components, a Mean of the new product upgrade price of $3,200 and a Standard Deviation of $180 was estimated. Based on the data provided, the Z value for the data assuming a Normal Distribution is?
Suggested Answer: D
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32 comments · newest first
CE
Cecily
11 months ago
Wait, how can the Z value be that low? Sounds off!
FE
Felix
11 months ago
Not sure about that, seems high for a Z value.
MI
Misty
12 months ago
I think the Z value is actually 2.22.
DA
Danilo
12 months ago
Z value calculation is key here!
AL
Alita
12 months ago
The mean is $3,200 and the cost limit is $3,600.
JA
Janella
1 year ago
I feel like I might be overthinking this. Is the Z value just a way to see how far the mean is from the target cost?
NA
Naomi
1 year ago
This seems similar to a question we did in class about supplier cost analysis. I think I need to subtract the mean from the target cost and then divide by the standard deviation.
DA
Dana
1 year ago
I remember we practiced calculating Z-scores, but I'm not entirely sure how to apply it here with the sample size and standard deviation.
KA
Karon
1 year ago
Alright, I think I've got the right approach. I'll plug in the given mean, standard deviation, and target value into the Z-score formula. Then I can use a Z-table or calculator to determine which answer option corresponds to the Z-value I calculated.
MI
Minna
1 year ago
I'm a bit confused by all the numbers in this problem. I'll need to carefully read through it again and make sure I understand which values I need to use in the Z-score calculation. Taking it slow and double-checking my work will be important here.
BA
Barney
1 year ago
Hmm, I'm a little unsure about this one. I need to remember the formula for calculating the Z-score and make sure I'm plugging in the right values. Let me think this through step-by-step.
CE
Cecil
1 year ago
This looks like a straightforward Z-score calculation problem. I'll need to plug in the given mean, standard deviation, and target value to find the Z-score.
TH
Thurman
1 year ago
I hope the answer isn't 'Z' because that would be way too obvious. Let's go with 'Zorro' just for fun!
LI
Linsey
1 year ago
C) 6.48
AL
Aleshia
1 year ago
B) 4.67
NE
Nettie
1 year ago
A) 2.33
JU
Justine
1 year ago
Ugh, why do they always make these questions so convoluted? I need more coffee to tackle this one.
NY
Nydia
1 year ago
Yeah, I agree. Let's grab that coffee and work through this together.
AR
Arlette
1 year ago
I think the Z value for the data is 2.33.
PH
Phuong
1 year ago
I know right, these questions can be so confusing sometimes.
LU
Lucina
2 years ago
Piece of cake! This is right up my alley. I'm going to ace this question and impress the hiring manager.
BE
Bev
1 year ago
Actually, the correct answer is A) 2.33.
BA
Barrett
1 year ago
B) 4.67
HE
Helene
1 year ago
Great job! You nailed it.
CO
Cora
1 year ago
A) 2.33
AN
Antonio
2 years ago
Wait, what's a Z-value again? I should have paid more attention in Statistics class.
KA
Kassandra
2 years ago
Hmm, this looks tricky. I better grab my calculator and start crunching some numbers.
LO
Louvenia
1 year ago
I think the Z value is 2.33.
WE
Wenona
1 year ago
A) 2.33
LY
Lyla
2 years ago
I agree. So, the closest option is A) 2.33. That seems like the correct answer.
VE
Veronique
2 years ago
Yes, that's correct. So, the Z value would be (3600 - 3200) / 180 = 2.22.
LY
Lyla
2 years ago
I think the Z value is calculated by subtracting the mean from the target value and dividing by the standard deviation.