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Abstract
The relationship between the capability index Cpm and the expected squared error loss provides an intuitive interpretation of Cpm. By putting the loss in relative terms a user needs only to specify the target and the distance from the target at which the product would have zero worth, or alternatively, the loss at the specification limits. Confidence limits for the expected relative loss are discussed, and a numerical illustration is given.
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Notes on contributors
Thomas Johnson
Dr. Johnson is a Professor of Agricultural and Resource Economics, Statistics, and Biomathematics. He is a Member of ASQC.