Question

Jan Feb Mar Apr May June $172,180 $171,965 $169,100 $170,048 $168,204 $17...

Jan

Feb

Mar

Apr

May

June

$172,180

$171,965

$169,100

$170,048

$168,204

$172,003

July

Aug

Sep

Oct

Nov

Dec

$172,938

$172,709

$171,500

$170,677

$170,732

$170,206

If the monthly staffing budget was $171,022 for all months last year, and one standard deviation equals $1,458, are any of these variances beyond the expected range of variation for the 2007 budget year? Illustrate this with a control chart that shows the actual budget by month, a mean line, +2 and -2 Standard deviations.

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Answer #1

From the control chart given below, it can be seen that

all the points are within 2 standard deviations of the last year standard deviations

None of the points are beyond the expected range of 2 standard deviations

+2 standard dev 173938 Mean 171022 x 3 -2 standard dev 168106 髦3 贰3 4 (i 10 12 Index

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