[Solved] The North Central Insurance Company is studying recent claim history. A sample of 5 claims (in $000) for each of the last 5 months is obtained.
Question: The North Central Insurance Company is studying recent claim history. A sample of 5 claims (in $000 ) for each of the last 5 months is obtained.
| Samples | ||||||||
| Month | 1 | 2 | 3 | 4 | 5 | Total | Mean | Range |
| Jan | 1.1 | 0.9 | 1.3 | 1.5 | 1.2 | |||
| Feb | 0.5 | 1.4 | 1.4 | 1.3 | 1.1 | |||
| March | 0.4 | 0.3 | 0.9 | 0.9 | 1 | |||
| April | 1.3 | 1.6 | 1.6 | 1.5 | 0.6 | |||
| May | 1.2 | 0.3 | 1.1 | 0.7 | 0.6 | |||
- Determine the upper and lower control limits for the mean.
- Determine the upper and lower control limits for the range.
Deliverable: Word Document 
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