A major financial services company wishes to better understand its mortgage approval process. In particular, the company is interested in learning about the effects of credit history (good versus fair), the size of the mortgage (<$500,000 versus >$500,000), and the region of the United States (western versus eastern) on the amount of time it takes to get a mortgage approved. The database of mortgages approved in the last year is accessed, and a random sample of five approved mortgages is selected for each of the eight combinations of the three variables. The data are shown in the table ..
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First, conduct an analysis using the following steps:
Use the data shown in the table to conduct a design of experiment (DOE) in Microsoft Excel in order determine the nature and magnitude of the effects of the three variables on mortgage approval times. What are the key drivers of this process?
Determine the graphical display tool (e.g., Interaction Effects Chart, Scatter Chart, et cetera) that you would use to present the results of the DOE that you conducted in Question 1. Provide a rationale for your response.
Assess the data sampling method. Our sample contained only five mortgages per combination. Under what circumstances would it have been appropriate to select a larger sample? Is a sample of five mortgages adequate to access the relative magnitudes of the effects of the variables? What sample size would you recommend? What could you learn from a larger sample size? (Hint: Look back at chapter 2, 3, 5, and 6 for discussion of sampling.)
Provide other variable responses that might be of interest to measure and study. (Hint: If you were getting a mortgage or a loan, what are the two most important measures of the process you would have to go through?)
Propose one overall recommendation to the financial services company, based on the DOE, that could help reduce mortgage approval times.
First, conduct an analysis using the following steps:
Use the data shown in the table to conduct a design of experiment (DOE) in Microsoft Excel in order determine the nature and magnitude of the effects of the three variables on mortgage approval times. What are the key drivers of this process?
Determine the graphical display tool (e.g., Interaction Effects Chart, Scatter Chart, et cetera) that you would use to present the results of the DOE that you conducted in Question 1. Provide a rationale for your response.
Assess the data sampling method. Our sample contained only five mortgages per combination. Under what circumstances would it have been appropriate to select a larger sample? Is a sample of five mortgages adequate to access the relative magnitudes of the effects of the variables? What sample size would you recommend? What could you learn from a larger sample size? (Hint: Look back at chapter 2, 3, 5, and 6 for discussion of sampling.)
Provide other variable responses that might be of interest to measure and study. (Hint: If you were getting a mortgage or a loan, what are the two most important measures of the process you would have to go through?)
Propose one overall recommendation to the financial services company, based on the DOE, that could help reduce mortgage approval times.
Second, create a PPT presentation to communicate the data analysis you completed. Your presentation must follow these formatting requirements:
A PPT presentation with at least 10 slides that include the answers to questions 1 through 5.
A reference slide which follows APA format. Check with your professor for any additional instructions.
Formatting of the slides should be consistent and easy to read.
Cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
Note: The cover slides and the reference slides are not included in the required assignment slides length.
The specific course learning outcome associated with this assignment is:
Develop recommendations to improve business processes, using statistical tools and analysis.
Preview: MAT510 : Business Statistics
Course Guide
Prerequisites
Description
Instructional Materials
Course Resources
Course Learning Outcomes
This course explores how business leaders can apply statistical thinking to improving business process and performance. The course presents
concepts related to statistical thinking with a business environment, statistical tools and techniques, and formalized statistical methods.
Instructional Materials
Required Resources: Available through the Strayer Bookstore
Hoerl, R., & Snee, R. (2012). Statistical thinking: Improving business performance (2nd ed.). Hoboken, NJ: John Wiley and Sons.
Supplemental Resources: Online resources available through the Strayer Library
For your convenience, the required online resources are provided by the Strayer Library at no cost. Links to the Online Library Resources are available
within Blackboard via the Course Info page. You may also search by title in the online Strayer Library.
Balestracci, D. (1988). Data “sanity:” Statistical thinking applied to everyday data [PDF]. Milwaukee, WI: American Society for Quality Statistics
Division. Retrieved from http://www.donaldpoland.com/documents_and_links/5-Other_Documents/Statistical_Thinking
Ozanteaching. (2011). Descriptive statistics using “data analysis” tool in Excel [Video]. Retrieved from https://www.youtube.com/watch?
v=5MFjwM6K5Sg
Paulk, M. C., & Hyder, E. B. (2007). Common pitfalls in statistical thinking. Carnegie Mellon University. Retrieved from
http://repository.cmu.edu/cgi/viewcontent.cgi?article=1000&context=isr
Peck, R., Casella, G., Cobb, G. W., Hoerl, R., & Nolan, D. (2006). Statistics: A guide to the unknown (4th ed.). Pacific Grove, CA: Duxbury Press.
Snee, R. D., & Hoerl, R.W. (2003). Leading Six Sigma: A step-by-step guide based on experience with GE and other Six Sigma companies. Upper
Saddle River, NJ: Financial Times/Prentice Hall.
Design strategies to enhance organizational performance that are informed by the principals of statistical thinking.1
Determine solutions for complex problems using statistical tools and mathematical thinking as a foundation for
decision making.
2
Develop recommendations to improve business processes, using statistical tools and analysis.3
w04a1 – Case Study 1: Understanding Process Measurement Variation 180 18 %
w05q1 – Week 5 Midterm Exam 100 10 %
w06a1 – Homework Assignment 4 30 3 %
w07a1 – Homework Assignment 5 30 3 %
w08a1 – Case Study 2: Mortgage Approval Time Study 190 19 %
w09a1 – Homework Assignment 6 30 3 %
w10a1 – Homework Assignment 7 30 3 %
w11q1 – Week 11 Final Exam 100 10 %
Totals 1000 100%
Final Course Grade
Points Percentage Grade
900 – 1000 90% – 100% A
800 – 899 80% – 89% B
700 – 799 70% – 79% C
600 – 699 60% – 69% D
Points Percentage Grade
599 59% and below F
Unique Course Features
Assignments
w01a1 – Homework Assignment 1
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 1 [DOCX].
Describe a work task, a hobby, or another activity that you regularly do.
Sequentially list the various actions you take in order to complete this activity.
Consider the complexity of your list and the amount of steps required to complete the activity.
Address the following in the space provided below:
1. Differentiate the main actions between doing and improving your activities.
2. Determine the overall manner in which variation has affected your activities.
Scoring Guide
Homework Assignment 1. 100 %
Unacceptable
Did not complete or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w02a1 – Homework Assignment 2
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 2 [DOCX].
Explain the importance of variation to health care organizations and answer the following questions in the space provided below.
1. What might be the key processes for health care organizations?
2. What are the potential common causes of variation that would have an impact on the key processes of health care organizations?
3. What special causes might be more important than the others?
4. How might health care organizations’ business environment be dynamic and change over time?
Scoring Guide
Homework Assignment 2. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w03a1 – Homework Assignment 3
Summary
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_1 x
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_2 x
Click the linked activity title to access this assignment.
Text
Touring a Process. Select a place of your choice (for example, a supermarket, doctor’s office, library, post office, department store, et cetera) and
observe one or more key processes, the associated suppliers, inputs, process steps, outputs, customers, the measurement systems, and how the
measurements are used to manage and improve the process. Include these items:
1. Company visited.
2. Process observed.
3. SIPOC elements.
4. Process measurements.
5. Process management systems used.
Type your responses and submit using the link above.
Scoring Guide
Homework Assignment 3. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w04a1 – Case Study 1: Understanding Process Measurement Variation
Summary
Click the linked activity title to access this assignment.
Text
For this assignment, you will need to conduct an experiment then create visuals that will be placed within a PowerPoint presentation to present your
findings. Your presentation should be easy to read and have a consistent design theme throughout. Please view the first four chapters in the following
LinkedIn Learning course on PowerPoint Essentials before creating your presentation:
PowerPoint2019 Essential Training.
Read the following experimental variation scenario:
To help you learn about measurement variation, try this experiential learning exercise. (We are indebted to Alan Goodman, DuPont Company,
Wilmington, Delaware, for bringing this exercise to our attention.)
You have started a new business providing height measurements of humans. Your customers expect accurate and precise measurements. You offer
two methods of measurement: a yardstick or a meter stick, and a tape measure. You need to test the two methods to evaluate their performance and
provide the results to your customers.
For this experiment you will need the following tools:
A yardstick or meterstick.
A tape measure.
Access to an entrance door that is 6 feet or taller.
A group of 20 or more people (they do not have to be gathered at the same time, but it should be 20 different people that participate).
You will test Method 1 in this way:
1. Identify a group of 20 or more people.
2. Ask the group of 20 or more people to measure the height of the entrance door that is approximately 6 feet or taller. Be sure that the entrance door is
the same for each member of the group.
3. Each person will measure the height of the door using the yardstick or the meterstick and will silently report the measurement to you or to someone
you have designated as the data collector.
4. You will then tabulate the data and plot each measurement on a run or sequence chart. No deviation from the prescribed method is allowed.
In Method 2, you may use the same, or a different, group of 20 or more people and the same or a different entrance door.
1. This time, the group will use the tape measure in any way the group members desire.
2. Again, each person silently reports the measurement of the entrance door to you or a designated data collector, and you will tabulate and plot each
data point.
You will then create a PowerPoint presentation that includes each of the following items:
1. Compare the accuracy and precision of the two methods using graphical and analytical methods. Which method was more accurate? Develop a flow
chart for each method in which you specify the key problems that might be present. Develop the supplier, input, process steps, output, and
customer (SIPOC) model to analyze the process of both methods. This can also be done in the flow chart. (Please reference these instructions on
how to create a flow chart in Microsoft Word.)
2. Analyze the flow chart and SIPOC model to identify opportunity for improvement (OFI). Next, categorize whether the OFI are caused by special
causes or common causes variations. Provide a rationale for your response. Which method of measurement would you recommend? Why?
Should different methods be used under different circumstances? Consider the role of different customer segments.
3. Discuss the feelings the group(s) had when using the two methods. What were the differences between the two sets of feelings? Are these
differences important?
4. Use Basic Search: Strayer University Online Library to identify at least two quality references to support your discussion.
Your assignment must follow these formatting requirements:
A PPT presentation with at least 8 slides that include the responses to numbers 1 through 3 above.
A references slide which follows APA format. Check with your professor for any additional instructions.
Formatting of the slides should be consistent and easy to read.
Cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
Note: The cover and the reference slides are not included in the required assignment slides length.
The specific course learning outcome associated with this assignment is:
Design strategies to enhance organizational performance that are informed by the principals of statistical thinking.
Scoring Guide
Compare the accuracy and precision of the two methods using graphical
and analytical methods. Develop a flow chart for each method in which you
specify the key problems that might be present. Develop the supplier, input,
process steps, output, and customer (SIPOC) model to analyze the process
of both methods. 20 %
Unacceptable
Did not develop or incompletely
developed the flow chart for each
method in which you specify the
key problems that might be
present. Did not develop or
incompletely developed the
supplier, input, process steps,
output, and customer (SIPOC)
model to analyze the process of
both methods.
Needs Improvement
Partially developed the flow chart
for each method in which you
specify the key problems that
might be present. Partially
developed the supplier, input,
process steps, output, and
customer (SIPOC) model to
analyze the process of both
methods.
Competent
Satisfactorily developed the flow
chart for each method in which you
specify the key problems that
might be present. Satisfactorily
developed the supplier, input,
process steps, output, and
customer (SIPOC) model to
analyze the process of both
methods.
Exemplary
Thoroughly developed the flow
chart for each method in which you
specify the key problems that
might be present. Thoroughly
developed the supplier, input,
process steps, output, and
customer (SIPOC) model to
analyze the process of both
methods.
Analyze the flow chart and SIPOC model to identify opportunity for
improvement (OFI). Next, categorize whether the OFI are caused by special
causes or common causes variations. Provide a rationale for your response.
20 %
Unacceptable
Did not submit or incompletely
analyze the flow chart and SIPOC
model to identify opportunity for
improvement (OFI). Did not submit
or incompletely categorize whether
the OFI are caused by special
causes or common causes
variations. Did not submit or
Needs Improvement
Partially analyzed the flow chart
and SIPOC model to identify
opportunity for improvement (OFI).
Partially categorized whether the
OFI are caused by special causes
or common causes variations.
Partially provided a rationale for
your response.
Competent
Satisfactorily analyzed the flow
chart and SIPOC model to identify
opportunity for improvement (OFI).
Satisfactorily categorized whether
the OFI are caused by special
causes or common causes
variations. Satisfactorily provided a
rationale for your response.
Exemplary
Thoroughly analyzed the flow chart
and SIPOC model to identify
opportunity for improvement (OFI).
Thoroughly categorized whether
the OFI are caused by special
causes or common causes
variations. Thoroughly provided a
rationale for your response.
https://research.strayer.edu/
incompletely provided a rationale
for your response.
Discuss the feelings of the two groups about the two methods. Discuss the
differences between the two sets of feelings. Are these differences
important? Provide a rationale for your response. 20 %
Unacceptable
Did not discuss or incompletely
discussed the feelings of the two
groups about the two methods. Did
not discuss or incompletely
discussed the differences between
the two sets of feelings. Did not
provide an answer or incompletely
provided an answer to the
question: Are these differences
important? Did not provide or
incompletely provided a rationale
for your response.
Needs Improvement
Partially discussed the feelings of
the two groups about the two
methods. Partially discussed the
differences between the two sets
of feelings. Partially provided an
answer to the question: Are these
differences important? Partially
provided a rationale for your
response.
Competent
Satisfactorily discussed the
feelings of the two groups about
the two methods. Satisfactorily
discussed the differences between
the two sets of feelings.
Satisfactorily provided an answer
to the question: Are these
differences important?
Satisfactorily provided a rationale
for your response.
Exemplary
Thoroughly discussed the feelings
of the two groups about the two
methods. Thoroughly discussed
the differences between the two
sets of feelings. Thoroughly
provided an answer to the
question: Are these differences
important? Thoroughly provided a
rationale for your response.
Select the method that was the most accurate. Provide a rationale for your
response. 20 %
Unacceptable
Did not select or incompletely
selected the method that was the
most accurate. Did not provide or
incompletely provided a rationale
for your response.
Needs Improvement
Partially selected the method that
was the most accurate. Partially
provided a rationale for your
response.
Competent
Satisfactorily selected the method
that was the most accurate.
Satisfactorily provided a rationale
for your response.
Exemplary
Thoroughly selected the method
that was the most accurate.
Thoroughly provided a rationale for
your response.
Integrate two references. 5 %
Unacceptable
No references provided and
sources are rarely integrated using
effective techniques of quoting,
paraphrasing, and summarizing, or
lack in-text citations.
Needs Improvement
Does not meet the required
number of references; some or all
references poor quality choices
and/or sources are partially
integrated using effective
techniques of quoting,
paraphrasing, and summarizing,
along with in-text citations.
Competent
References are mostly relevant
sources of fair quality and are
mostly integrated using effective
techniques of quoting,
paraphrasing, and summarizing,
along with in-text citations.
Exemplary
References are highly relevant,
high quality sources and are
consistently integrated using
effective techniques of quoting,
paraphrasing, and summarizing,
along with in-text citations.
Complete presentation requirements. 5 %
Unacceptable
Presentation does not have 8
slides in addition to a cover slide
and a reference slide. There is no
consistent theme or design and
slides are difficult to read.
Needs Improvement
Presentation does not have 8
slides in addition to a cover slide
and a reference slide and/or there
is no consistent theme or design in
the presentation. Some slides may
be difficult to read.
Competent
Presentation includes at least 8
slides in addition to a cover slide
and a reference slide. There is a
theme or design throughout the
presentation but some slides may
contain too much information to be
easily read.
Exemplary
Presentation includes 8 or more
slides in addition to a cover slide
and a reference slide. There is a
consistent theme or design
throughout and all slides are easy
to read.
Writing and support for ideas. 5 %
Unacceptable
Rarely uses reasons and evidence
that logically support ideas.
Needs Improvement
Partially uses reasons and
evidence that logically support
ideas.
Competent
Mostly uses reasons and evidence
that logically support ideas.
Exemplary
Consistently uses reasons and
evidence that logically support
ideas.
Numerous errors in grammar,
spelling, and punctuation.
Partially free of errors in grammar,
spelling, and punctuation.
Mostly free of errors in grammar,
spelling, and punctuation.
Free of errors in grammar, spelling,
and punctuation.
w06a1 – Homework Assignment 4
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 4 [DOCX].
The data in the table below lists country code and the order to remittance (OTR) time for hardware/software installations for the last 76 installations
(from first to last). OTR is the time it takes from an order being placed until the system is installed and we receive payment (remittance). Because this
company does business internationally, it also notes the country of installation using a country code. This code is listed in the first column.
Country Code and OTR Cycle Time for Software Systems Installation
Country Code Cycle Time Country Code Cycle Time
1 20 5 29
1 24 6 40
1 46 7 157
1 26 8 19
14 38 5 24
1 15 1 81
1 15 7 53
17 23 7 26
1 31 1 28
1 31 1 34
6 64 1 34
5 29 7 50
5 44 1 52
1 32 1 19
1 15 1 44
7 11 14 150
7 14 7 29
1 89 17 23
17 41 6 79
7 41 17 13
1 36 6 32
8 43 7 61
17 21 8 42
8 28 8 46
7 18 7 88
8 47 14 24
6 26 7 7
6 47 1 33
5 9 5 129
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_4 x
Country Code Cycle Time Country Code Cycle Time
7 42 17 41
5 5 17 43
6 27 14 42
6 27 14 42
1 33 7 53
7 44 7 53
1 21 7 48
1 22 5 21
1 50 1 19
Use the date in table above and answer the following questions in the space provided below:
1. Does the OTR time appear to be stable? Why or why not?
2. If you were to use a control chart to evaluate stability, which chart would you use? Why?
3. What can you learn about the distribution of the installation process?
4. Does it appear that the country has an impact on installation time? Why or why not?
Scoring Guide
Homework Assignment 4. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w07a1 – Homework Assignment 5
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 5 [DOCX].
The data in the table below is from a study conducted by an insurance company to determine the effect of changing the process by which insurance
claims are approved. The goal was to improve policyholder satisfaction by speeding up the process and eliminating some non-value-added approval
steps in the process. The response measured was the average time required to approve and mail all claims initiated in a week. The new procedure was
tested for 12 weeks, and the results were compared to the process performance for the 12 weeks prior to instituting the change.
Table: Insurance Claim Approval Times (days)
Old Process Elapsed Time New Process Elapsed Time
Week Week
1 31.7 13 24
2 27 14 25.8
3 33.8 15 31
4 30 16 23.5
5 32.5 17 28.5
6 33.5 18 25.6
7 38.2 19 28.7
8 37.5 20 27.4
9 29 21 28.5
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_5 x
Old Process Elapsed Time New Process Elapsed Time
10 31.5 22 25.2
11 38.6 23 24.5
12 39.3 24 23.5
Use the date in the table above and answer the following questions in the space provided below:
1. What was the average effect of the process change? Did the process average increase or decrease and by how much?
2. Analyze the data using the regression model y = b0 + b1 x, where y = time to approve and mail a claim (weekly average), x = 0 for the old process,
and x = 1 for the new process.
3. How does this model measure the effect of the process change?
4. How much did the process performance change on the average? (Hint: Compare the values of b1 and the average of new process performance
minus the average of the performance of the old process.)
Scoring Guide
Homework Assignment 5. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w08a1 – Case Study 2:
Mortgage Approval Time Study
Summary
Click the linked activity title to access this assignment.
Text
Read the following case study:
A major financial services company wishes to better understand its mortgage approval process. In particular, the company is interested in learning
about the effects of credit history (good versus fair), the size of the mortgage (<$500,000 versus >$500,000), and the region of the United States
(western versus eastern) on the amount of time it takes to get a mortgage approved. The database of mortgages approved in the last year is accessed,
and a random sample of five approved mortgages is selected for each of the eight combinations of the three variables. The data are shown in the table
Mortgage Approval Time Study
Credit History Mortgage Size Region
Approval Times
(days)
Approval Times
(days)
Approval Times
(days)
Approval Times
(days)
Approval Times
(days)
Good <$500,000 Western 59 50 64 62 47
Fair <$500,000 Western 81 58 69 65 74
Good >$500,000 Western 38 52 58 60 65
Fair >$500,000 Western 146 159 133 143 129
Good <$500,000 Eastern 28 26 38 41 21
Fair <$500,000 Eastern 42 53 40 50 64
Good >$500,000 Eastern 49 31 49 42 38
Fair >$500,000 Eastern 106 115 126 118 138
First, conduct an analysis using the following steps:
1. Use the data shown in the table to conduct a design of experiment (DOE) in Microsoft Excel in order determine the nature and magnitude of the
effects of the three variables on mortgage approval times. What are the key drivers of this process?
2. Determine the graphical display tool (e.g., Interaction Effects Chart, Scatter Chart, et cetera) that you would use to present the results of the DOE
that you conducted in Question 1. Provide a rationale for your response.
3. Assess the data sampling method. Our sample contained only five mortgages per combination. Under what circumstances would it have been
appropriate to select a larger sample? Is a sample of five mortgages adequate to access the relative magnitudes of the effects of the variables?
What sample size would you recommend? What could you learn from a larger sample size? (Hint: Look back at chapter 2, 3, 5, and 6 for
discussion of sampling.)
4. Provide other variable responses that might be of interest to measure and study. (Hint: If you were getting a mortgage or a loan, what are the two
most important measures of the process you would have to go through?)
5. Propose one overall recommendation to the financial services company, based on the DOE, that could help reduce mortgage approval times.
6. Use Basic Search: Strayer University Online Library to identify at least two quality references to support your discussion. Note: Wikipedia and other
websites do not qualify as academic resources.
Second, create a PPT presentation to communicate the data analysis you completed. Your presentation must follow these formatting requirements:
A PPT presentation with at least 10 slides that include the answers to questions 1 through 5.
A reference slide which follows APA format. Check with your professor for any additional instructions.
Formatting of the slides should be consistent and easy to read.
Cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
Note: The cover slides and the reference slides are not included in the required assignment slides length.
The specific course learning outcome associated with this assignment is:
Develop recommendations to improve business processes, using statistical tools and analysis.
Scoring Guide
Use the data shown in the table to conduct a design of experiment (DOE) in
order to test cause-and-effect relationships in the mortgage approval time
for the financial services company. 16 %
Unacceptable
Did not submit or incompletely
used the data shown in the table to
conduct a design of experiment
(DOE) in order to test cause-and-
effect relationships in the
mortgage approval time for the
financial services company.
Needs Improvement
Partially used the data shown in
the table to conduct a design of
experiment (DOE) in order to test
cause-and-effect relationships in
the mortgage approval time for the
financial services company.
Competent
Satisfactorily used the data shown
in the table to conduct a design of
experiment (DOE) in order to test
cause-and-effect relationships in
the mortgage approval time for the
financial services company.
Exemplary
Thoroughly used the data shown
in the table to conduct a design of
experiment (DOE) in order to test
cause-and-effect relationships in
the mortgage approval time for the
financial services company.
Determine the graphical display tool (interaction effects chart, scatter chart,
et cetera) that you would use to present the results of the DOE that you
conducted in Question 1. Provide a rationale for your response. 16 %
Unacceptable
Did not submit or incompletely
determined the graphical display
tool (interaction effects chart,
scatter chart, et cetera) that you
would use to present the results of
the DOE that you conducted in
Question 1. Did not submit or
incompletely provided a rationale
for your response.
Needs Improvement
Partially determined the graphical
display tool (interaction effects
chart, scatter chart, et cetera) that
you would use to present the
results of the DOE that you
conducted in Question 1. Partially
provided a rationale for your
response.
Competent
Satisfactorily determined the
graphical display tool (interaction
effects chart, scatter chart, et
cetera) that you would use to
present the results of the DOE that
you conducted in Question 1.
Satisfactorily provided a rationale
for your response.
Exemplary
Thoroughly determined the
graphical display tool (interaction
effects chart, scatter chart, et
cetera) that you would use to
present the results of the DOE that
you conducted in Question 1.
Thoroughly provided a rationale for
your response.
Assess the data sampling method by determining if the sample size is
sufficient, determining if effects of variables can be measured,
recommending a sample size for future study, and stating what analysis can
be done with larger sample sizes. 16 %
Unacceptable
Did not submit or incompletely
assessed the data sampling
method by determining if the
sample size is sufficient,
determining if effects of variables
can be measured, recommending
a sample size for future study, and
Needs Improvement
Partially assessed the data
sampling method by determining if
the sample size is sufficient,
determining if effects of variables
can be measured, recommending
a sample size for future study, and
stating what analysis can be done
with larger sample sizes.
Competent
Satisfactorily assessed the data
sampling method by determining if
the sample size is sufficient,
determining if effects of variables
can be measured, recommending
a sample size for future study, and
stating what analysis can be done
with larger sample sizes.
Exemplary
Thoroughly assessed the data
sampling method by determining if
the sample size is sufficient,
determining if effects of variables
can be measured, recommending
a sample size for future study, and
stating what analysis can be done
with larger sample sizes.
https://research.strayer.edu/
stating what analysis can be done
with larger sample sizes.
Provide other variable responses that might be of interest to measure and
study. 16 %
Unacceptable
Did not submit or incompletely
provided other variable responses
that might be of interest to
measure and study.
Needs Improvement
Partially provided other variable
responses that might be of interest
to measure and study.
Competent
Satisfactorily provided other
variable responses that might be
of interest to measure and study.
Exemplary
Thoroughly provided other variable
responses that might be of interest
to measure and study.
Propose one overall recommendation to the financial services company,
based on the DOE, that could help reduce mortgage approval times. 16 %
Unacceptable
Did not submit or incompletely
proposed one overall
recommendation to the financial
services company, based on the
DOE, that could help reduce
mortgage approval times. Did not
submit or incompletely provided a
rationale for your response.
Needs Improvement
Partially proposed one overall
recommendation to the financial
services company, based on the
DOE, that could help reduce
mortgage approval times. Partially
provided a rationale for your
response.
Competent
Satisfactorily proposed one overall
recommendation to the financial
services company, based on the
DOE, that could help reduce
mortgage approval times.
Satisfactorily provided a rationale
for your response.
Exemplary
Thoroughly proposed one overall
recommendation to the financial
services company, based on the
DOE, that could help reduce
mortgage approval times.
Thoroughly provided a rationale for
your response.
Complete presentation requirements. 10 %
Unacceptable
Presentation does not have 10
slides in addition to a cover slide
and a reference slide. There is no
consistent theme or design and
slides are difficult to read.
Needs Improvement
Presentation does not have 10
slides in addition to a cover slide
and a reference slide and/or there
is no consistent theme or design in
the presentation. Some slides may
be difficult to read.
Competent
Presentation includes at least 10
slides in addition to a cover slide
and a reference slide. There is a
theme or design throughout the
presentation but some slides may
contain too much information to be
easily read.
Exemplary
Presentation includes 10 or more
slides in addition to a cover slide
and a reference slide. There is a
consistent theme or design
throughout and all slides are easy
to read.
Writing and support for ideas. 5 %
Unacceptable
Rarely uses reasons and evidence
that logically support ideas.
Needs Improvement
Partially uses reasons and
evidence that logically support
ideas.
Competent
Mostly uses reasons and evidence
that logically support ideas.
Exemplary
Consistently uses reasons and
evidence that logically support
ideas.
Writing, grammar, and mechanics. 5 %
Unacceptable
Numerous errors in grammar,
spelling, and punctuation.
Needs Improvement
Partially free of errors in grammar,
spelling, and punctuation.
Competent
Mostly free of errors in grammar,
spelling, and punctuation.
Exemplary
Free of errors in grammar, spelling,
and punctuation.
w09a1 – Homework Assignment 6
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 6 [DOCX].
Suppose the number of equipment sales and service contracts that a store sold during the last six months for treadmills and exercise bikes was as
follows:
Equipment Sales and Service Contracts Sold
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_6 x
The store can only sell a service contract on a new piece of equipment. Of the 185 treadmills sold, 67 included a service contract and 118 did not.
Complete the following questions in the space provided below:
1. Construct a 95 percent confidence interval for the difference between the proportions of service contracts sold on treadmills versus exercise bikes.
2. Is there a major difference between the two pieces of equipment? Why or why not?
Scoring Guide
Homework Assignment 6. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w10a1 – Homework Assignment 7
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 7 [DOCX].
Suppose that there are two candidates (we’ll call them Jones and Johns) in the upcoming presidential election. Sara notes that she has discussed the
presidential election candidates with 15 friends, and 10 said that they are voting for candidate Jones. Sara is therefore convinced that candidate Jones
will win the election because Jones gets more than 50% of votes.
Answer the following questions in the space provided below:
1. Based on what you now know about statistical inference, is Sara’s conclusion a logical conclusion? Why or why not?
2. How many friend samples Sara should have in order to draw the conclusion with 95% confidence interval? Why?
3. How would you explain your conclusion to Sara without using any statistical jargon? Why?
Complete this assignment using the attached template.
Scoring Guide
Homework Assignment 7. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_7 x
Preview: MAT510 : Business Statistics
Course Guide
Prerequisites
Description
Instructional Materials
Course Resources
Course Learning Outcomes
This course explores how business leaders can apply statistical thinking to improving business process and performance. The course presents
concepts related to statistical thinking with a business environment, statistical tools and techniques, and formalized statistical methods.
Instructional Materials
Required Resources: Available through the Strayer Bookstore
Hoerl, R., & Snee, R. (2012). Statistical thinking: Improving business performance (2nd ed.). Hoboken, NJ: John Wiley and Sons.
Supplemental Resources: Online resources available through the Strayer Library
For your convenience, the required online resources are provided by the Strayer Library at no cost. Links to the Online Library Resources are available
within Blackboard via the Course Info page. You may also search by title in the online Strayer Library.
Balestracci, D. (1988). Data “sanity:” Statistical thinking applied to everyday data [PDF]. Milwaukee, WI: American Society for Quality Statistics
Division. Retrieved from http://www.donaldpoland.com/documents_and_links/5-Other_Documents/Statistical_Thinking
Ozanteaching. (2011). Descriptive statistics using “data analysis” tool in Excel [Video]. Retrieved from https://www.youtube.com/watch?
v=5MFjwM6K5Sg
Paulk, M. C., & Hyder, E. B. (2007). Common pitfalls in statistical thinking. Carnegie Mellon University. Retrieved from
http://repository.cmu.edu/cgi/viewcontent.cgi?article=1000&context=isr
Peck, R., Casella, G., Cobb, G. W., Hoerl, R., & Nolan, D. (2006). Statistics: A guide to the unknown (4th ed.). Pacific Grove, CA: Duxbury Press.
Snee, R. D., & Hoerl, R.W. (2003). Leading Six Sigma: A step-by-step guide based on experience with GE and other Six Sigma companies. Upper
Saddle River, NJ: Financial Times/Prentice Hall.
Design strategies to enhance organizational performance that are informed by the principals of statistical thinking.1
Determine solutions for complex problems using statistical tools and mathematical thinking as a foundation for
decision making.
2
Develop recommendations to improve business processes, using statistical tools and analysis.3
Discuss: Complete the discussion, One-Factor-at-a-Time (OFAAT) and Design of Experiment (DOE).
Assignment: Complete Case Study 2: Mortgage Approval Time Study.
Week 9 – To Do List
Learn: Read Chapter 8, “Applications of Statistical Inference Tools,” pages 307–329 in Statistical Thinking: Improving Business Performance.
Discuss: Complete the discussion, Confidence Interval.
Assignment: Complete Assignment 6.
Week 10 – To Do List
Week 10 – To Do List
Learn: Chapter 8, “Applications of Statistical Inference Tools,” pages 330–353 in Statistical Thinking: Improving Business Performance.
Discuss: Complete Hypothesis Test.
Homework: Complete Assignment 7.
Week 11 – To Do List
Discuss: Complete the discussion, Top-Three Concepts or Skills.
Exam: Complete the Final Exam.
Grading Scale
Participation Total Points % of Grade
Discussion Participation 220 22%
Assignment Total Points % of Grade
w01a1 – Homework Assignment 1 30 3 %
w02a1 – Homework Assignment 2 30 3 %
w03a1 – Homework Assignment 3 30 3 %
w04a1 – Case Study 1: Understanding Process Measurement Variation 180 18 %
w05q1 – Week 5 Midterm Exam 100 10 %
w06a1 – Homework Assignment 4 30 3 %
w07a1 – Homework Assignment 5 30 3 %
w08a1 – Case Study 2: Mortgage Approval Time Study 190 19 %
w09a1 – Homework Assignment 6 30 3 %
w10a1 – Homework Assignment 7 30 3 %
w11q1 – Week 11 Final Exam 100 10 %
Totals 1000 100%
Final Course Grade
Points Percentage Grade
900 – 1000 90% – 100% A
800 – 899 80% – 89% B
700 – 799 70% – 79% C
600 – 699 60% – 69% D
Points Percentage Grade
599 59% and below F
Unique Course Features
Assignments
w01a1 – Homework Assignment 1
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 1 [DOCX].
Describe a work task, a hobby, or another activity that you regularly do.
Sequentially list the various actions you take in order to complete this activity.
Consider the complexity of your list and the amount of steps required to complete the activity.
Address the following in the space provided below:
1. Differentiate the main actions between doing and improving your activities.
2. Determine the overall manner in which variation has affected your activities.
Scoring Guide
Homework Assignment 1. 100 %
Unacceptable
Did not complete or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w02a1 – Homework Assignment 2
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 2 [DOCX].
Explain the importance of variation to health care organizations and answer the following questions in the space provided below.
1. What might be the key processes for health care organizations?
2. What are the potential common causes of variation that would have an impact on the key processes of health care organizations?
3. What special causes might be more important than the others?
4. How might health care organizations’ business environment be dynamic and change over time?
Scoring Guide
Homework Assignment 2. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w03a1 – Homework Assignment 3
Summary
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_1 x
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_2 x
Click the linked activity title to access this assignment.
Text
Touring a Process. Select a place of your choice (for example, a supermarket, doctor’s office, library, post office, department store, et cetera) and
observe one or more key processes, the associated suppliers, inputs, process steps, outputs, customers, the measurement systems, and how the
measurements are used to manage and improve the process. Include these items:
1. Company visited.
2. Process observed.
3. SIPOC elements.
4. Process measurements.
5. Process management systems used.
Type your responses and submit using the link above.
Scoring Guide
Homework Assignment 3. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w04a1 – Case Study 1: Understanding Process Measurement Variation
Summary
Click the linked activity title to access this assignment.
Text
For this assignment, you will need to conduct an experiment then create visuals that will be placed within a PowerPoint presentation to present your
findings. Your presentation should be easy to read and have a consistent design theme throughout. Please view the first four chapters in the following
LinkedIn Learning course on PowerPoint Essentials before creating your presentation:
PowerPoint2019 Essential Training.
Read the following experimental variation scenario:
To help you learn about measurement variation, try this experiential learning exercise. (We are indebted to Alan Goodman, DuPont Company,
Wilmington, Delaware, for bringing this exercise to our attention.)
You have started a new business providing height measurements of humans. Your customers expect accurate and precise measurements. You offer
two methods of measurement: a yardstick or a meter stick, and a tape measure. You need to test the two methods to evaluate their performance and
provide the results to your customers.
For this experiment you will need the following tools:
A yardstick or meterstick.
A tape measure.
Access to an entrance door that is 6 feet or taller.
A group of 20 or more people (they do not have to be gathered at the same time, but it should be 20 different people that participate).
You will test Method 1 in this way:
1. Identify a group of 20 or more people.
2. Ask the group of 20 or more people to measure the height of the entrance door that is approximately 6 feet or taller. Be sure that the entrance door is
the same for each member of the group.
3. Each person will measure the height of the door using the yardstick or the meterstick and will silently report the measurement to you or to someone
you have designated as the data collector.
4. You will then tabulate the data and plot each measurement on a run or sequence chart. No deviation from the prescribed method is allowed.
In Method 2, you may use the same, or a different, group of 20 or more people and the same or a different entrance door.
1. This time, the group will use the tape measure in any way the group members desire.
2. Again, each person silently reports the measurement of the entrance door to you or a designated data collector, and you will tabulate and plot each
data point.
You will then create a PowerPoint presentation that includes each of the following items:
1. Compare the accuracy and precision of the two methods using graphical and analytical methods. Which method was more accurate? Develop a flow
chart for each method in which you specify the key problems that might be present. Develop the supplier, input, process steps, output, and
customer (SIPOC) model to analyze the process of both methods. This can also be done in the flow chart. (Please reference these instructions on
how to create a flow chart in Microsoft Word.)
2. Analyze the flow chart and SIPOC model to identify opportunity for improvement (OFI). Next, categorize whether the OFI are caused by special
causes or common causes variations. Provide a rationale for your response. Which method of measurement would you recommend? Why?
Should different methods be used under different circumstances? Consider the role of different customer segments.
3. Discuss the feelings the group(s) had when using the two methods. What were the differences between the two sets of feelings? Are these
differences important?
4. Use Basic Search: Strayer University Online Library to identify at least two quality references to support your discussion.
Your assignment must follow these formatting requirements:
A PPT presentation with at least 8 slides that include the responses to numbers 1 through 3 above.
A references slide which follows APA format. Check with your professor for any additional instructions.
Formatting of the slides should be consistent and easy to read.
Cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
Note: The cover and the reference slides are not included in the required assignment slides length.
The specific course learning outcome associated with this assignment is:
Design strategies to enhance organizational performance that are informed by the principals of statistical thinking.
Scoring Guide
Compare the accuracy and precision of the two methods using graphical
and analytical methods. Develop a flow chart for each method in which you
specify the key problems that might be present. Develop the supplier, input,
process steps, output, and customer (SIPOC) model to analyze the process
of both methods. 20 %
Unacceptable
Did not develop or incompletely
developed the flow chart for each
method in which you specify the
key problems that might be
present. Did not develop or
incompletely developed the
supplier, input, process steps,
output, and customer (SIPOC)
model to analyze the process of
both methods.
Needs Improvement
Partially developed the flow chart
for each method in which you
specify the key problems that
might be present. Partially
developed the supplier, input,
process steps, output, and
customer (SIPOC) model to
analyze the process of both
methods.
Competent
Satisfactorily developed the flow
chart for each method in which you
specify the key problems that
might be present. Satisfactorily
developed the supplier, input,
process steps, output, and
customer (SIPOC) model to
analyze the process of both
methods.
Exemplary
Thoroughly developed the flow
chart for each method in which you
specify the key problems that
might be present. Thoroughly
developed the supplier, input,
process steps, output, and
customer (SIPOC) model to
analyze the process of both
methods.
Analyze the flow chart and SIPOC model to identify opportunity for
improvement (OFI). Next, categorize whether the OFI are caused by special
causes or common causes variations. Provide a rationale for your response.
20 %
Unacceptable
Did not submit or incompletely
analyze the flow chart and SIPOC
model to identify opportunity for
improvement (OFI). Did not submit
or incompletely categorize whether
the OFI are caused by special
causes or common causes
variations. Did not submit or
Needs Improvement
Partially analyzed the flow chart
and SIPOC model to identify
opportunity for improvement (OFI).
Partially categorized whether the
OFI are caused by special causes
or common causes variations.
Partially provided a rationale for
your response.
Competent
Satisfactorily analyzed the flow
chart and SIPOC model to identify
opportunity for improvement (OFI).
Satisfactorily categorized whether
the OFI are caused by special
causes or common causes
variations. Satisfactorily provided a
rationale for your response.
Exemplary
Thoroughly analyzed the flow chart
and SIPOC model to identify
opportunity for improvement (OFI).
Thoroughly categorized whether
the OFI are caused by special
causes or common causes
variations. Thoroughly provided a
rationale for your response.
https://research.strayer.edu/
incompletely provided a rationale
for your response.
Discuss the feelings of the two groups about the two methods. Discuss the
differences between the two sets of feelings. Are these differences
important? Provide a rationale for your response. 20 %
Unacceptable
Did not discuss or incompletely
discussed the feelings of the two
groups about the two methods. Did
not discuss or incompletely
discussed the differences between
the two sets of feelings. Did not
provide an answer or incompletely
provided an answer to the
question: Are these differences
important? Did not provide or
incompletely provided a rationale
for your response.
Needs Improvement
Partially discussed the feelings of
the two groups about the two
methods. Partially discussed the
differences between the two sets
of feelings. Partially provided an
answer to the question: Are these
differences important? Partially
provided a rationale for your
response.
Competent
Satisfactorily discussed the
feelings of the two groups about
the two methods. Satisfactorily
discussed the differences between
the two sets of feelings.
Satisfactorily provided an answer
to the question: Are these
differences important?
Satisfactorily provided a rationale
for your response.
Exemplary
Thoroughly discussed the feelings
of the two groups about the two
methods. Thoroughly discussed
the differences between the two
sets of feelings. Thoroughly
provided an answer to the
question: Are these differences
important? Thoroughly provided a
rationale for your response.
Select the method that was the most accurate. Provide a rationale for your
response. 20 %
Unacceptable
Did not select or incompletely
selected the method that was the
most accurate. Did not provide or
incompletely provided a rationale
for your response.
Needs Improvement
Partially selected the method that
was the most accurate. Partially
provided a rationale for your
response.
Competent
Satisfactorily selected the method
that was the most accurate.
Satisfactorily provided a rationale
for your response.
Exemplary
Thoroughly selected the method
that was the most accurate.
Thoroughly provided a rationale for
your response.
Integrate two references. 5 %
Unacceptable
No references provided and
sources are rarely integrated using
effective techniques of quoting,
paraphrasing, and summarizing, or
lack in-text citations.
Needs Improvement
Does not meet the required
number of references; some or all
references poor quality choices
and/or sources are partially
integrated using effective
techniques of quoting,
paraphrasing, and summarizing,
along with in-text citations.
Competent
References are mostly relevant
sources of fair quality and are
mostly integrated using effective
techniques of quoting,
paraphrasing, and summarizing,
along with in-text citations.
Exemplary
References are highly relevant,
high quality sources and are
consistently integrated using
effective techniques of quoting,
paraphrasing, and summarizing,
along with in-text citations.
Complete presentation requirements. 5 %
Unacceptable
Presentation does not have 8
slides in addition to a cover slide
and a reference slide. There is no
consistent theme or design and
slides are difficult to read.
Needs Improvement
Presentation does not have 8
slides in addition to a cover slide
and a reference slide and/or there
is no consistent theme or design in
the presentation. Some slides may
be difficult to read.
Competent
Presentation includes at least 8
slides in addition to a cover slide
and a reference slide. There is a
theme or design throughout the
presentation but some slides may
contain too much information to be
easily read.
Exemplary
Presentation includes 8 or more
slides in addition to a cover slide
and a reference slide. There is a
consistent theme or design
throughout and all slides are easy
to read.
Writing and support for ideas. 5 %
Unacceptable
Rarely uses reasons and evidence
that logically support ideas.
Needs Improvement
Partially uses reasons and
evidence that logically support
ideas.
Competent
Mostly uses reasons and evidence
that logically support ideas.
Exemplary
Consistently uses reasons and
evidence that logically support
ideas.
Numerous errors in grammar,
spelling, and punctuation.
Partially free of errors in grammar,
spelling, and punctuation.
Mostly free of errors in grammar,
spelling, and punctuation.
Free of errors in grammar, spelling,
and punctuation.
w06a1 – Homework Assignment 4
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 4 [DOCX].
The data in the table below lists country code and the order to remittance (OTR) time for hardware/software installations for the last 76 installations
(from first to last). OTR is the time it takes from an order being placed until the system is installed and we receive payment (remittance). Because this
company does business internationally, it also notes the country of installation using a country code. This code is listed in the first column.
Country Code and OTR Cycle Time for Software Systems Installation
Country Code Cycle Time Country Code Cycle Time
1 20 5 29
1 24 6 40
1 46 7 157
1 26 8 19
14 38 5 24
1 15 1 81
1 15 7 53
17 23 7 26
1 31 1 28
1 31 1 34
6 64 1 34
5 29 7 50
5 44 1 52
1 32 1 19
1 15 1 44
7 11 14 150
7 14 7 29
1 89 17 23
17 41 6 79
7 41 17 13
1 36 6 32
8 43 7 61
17 21 8 42
8 28 8 46
7 18 7 88
8 47 14 24
6 26 7 7
6 47 1 33
5 9 5 129
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_4 x
Country Code Cycle Time Country Code Cycle Time
7 42 17 41
5 5 17 43
6 27 14 42
6 27 14 42
1 33 7 53
7 44 7 53
1 21 7 48
1 22 5 21
1 50 1 19
Use the date in table above and answer the following questions in the space provided below:
1. Does the OTR time appear to be stable? Why or why not?
2. If you were to use a control chart to evaluate stability, which chart would you use? Why?
3. What can you learn about the distribution of the installation process?
4. Does it appear that the country has an impact on installation time? Why or why not?
Scoring Guide
Homework Assignment 4. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w07a1 – Homework Assignment 5
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 5 [DOCX].
The data in the table below is from a study conducted by an insurance company to determine the effect of changing the process by which insurance
claims are approved. The goal was to improve policyholder satisfaction by speeding up the process and eliminating some non-value-added approval
steps in the process. The response measured was the average time required to approve and mail all claims initiated in a week. The new procedure was
tested for 12 weeks, and the results were compared to the process performance for the 12 weeks prior to instituting the change.
Table: Insurance Claim Approval Times (days)
Old Process Elapsed Time New Process Elapsed Time
Week Week
1 31.7 13 24
2 27 14 25.8
3 33.8 15 31
4 30 16 23.5
5 32.5 17 28.5
6 33.5 18 25.6
7 38.2 19 28.7
8 37.5 20 27.4
9 29 21 28.5
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_5 x
Old Process Elapsed Time New Process Elapsed Time
10 31.5 22 25.2
11 38.6 23 24.5
12 39.3 24 23.5
Use the date in the table above and answer the following questions in the space provided below:
1. What was the average effect of the process change? Did the process average increase or decrease and by how much?
2. Analyze the data using the regression model y = b0 + b1 x, where y = time to approve and mail a claim (weekly average), x = 0 for the old process,
and x = 1 for the new process.
3. How does this model measure the effect of the process change?
4. How much did the process performance change on the average? (Hint: Compare the values of b1 and the average of new process performance
minus the average of the performance of the old process.)
Scoring Guide
Homework Assignment 5. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w08a1 – Case Study 2:
Mortgage Approval Time Study
Summary
Click the linked activity title to access this assignment.
Text
Read the following case study:
A major financial services company wishes to better understand its mortgage approval process. In particular, the company is interested in learning
about the effects of credit history (good versus fair), the size of the mortgage (<$500,000 versus >$500,000), and the region of the United States
(western versus eastern) on the amount of time it takes to get a mortgage approved. The database of mortgages approved in the last year is accessed,
and a random sample of five approved mortgages is selected for each of the eight combinations of the three variables. The data are shown in the table
Mortgage Approval Time Study
Credit History Mortgage Size Region
Approval Times
(days)
Approval Times
(days)
Approval Times
(days)
Approval Times
(days)
Approval Times
(days)
Good <$500,000 Western 59 50 64 62 47
Fair <$500,000 Western 81 58 69 65 74
Good >$500,000 Western 38 52 58 60 65
Fair >$500,000 Western 146 159 133 143 129
Good <$500,000 Eastern 28 26 38 41 21
Fair <$500,000 Eastern 42 53 40 50 64
Good >$500,000 Eastern 49 31 49 42 38
Fair >$500,000 Eastern 106 115 126 118 138
First, conduct an analysis using the following steps:
1. Use the data shown in the table to conduct a design of experiment (DOE) in Microsoft Excel in order determine the nature and magnitude of the
effects of the three variables on mortgage approval times. What are the key drivers of this process?
2. Determine the graphical display tool (e.g., Interaction Effects Chart, Scatter Chart, et cetera) that you would use to present the results of the DOE
that you conducted in Question 1. Provide a rationale for your response.
3. Assess the data sampling method. Our sample contained only five mortgages per combination. Under what circumstances would it have been
appropriate to select a larger sample? Is a sample of five mortgages adequate to access the relative magnitudes of the effects of the variables?
What sample size would you recommend? What could you learn from a larger sample size? (Hint: Look back at chapter 2, 3, 5, and 6 for
discussion of sampling.)
4. Provide other variable responses that might be of interest to measure and study. (Hint: If you were getting a mortgage or a loan, what are the two
most important measures of the process you would have to go through?)
5. Propose one overall recommendation to the financial services company, based on the DOE, that could help reduce mortgage approval times.
6. Use Basic Search: Strayer University Online Library to identify at least two quality references to support your discussion. Note: Wikipedia and other
websites do not qualify as academic resources.
Second, create a PPT presentation to communicate the data analysis you completed. Your presentation must follow these formatting requirements:
A PPT presentation with at least 10 slides that include the answers to questions 1 through 5.
A reference slide which follows APA format. Check with your professor for any additional instructions.
Formatting of the slides should be consistent and easy to read.
Cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
Note: The cover slides and the reference slides are not included in the required assignment slides length.
The specific course learning outcome associated with this assignment is:
Develop recommendations to improve business processes, using statistical tools and analysis.
Scoring Guide
Use the data shown in the table to conduct a design of experiment (DOE) in
order to test cause-and-effect relationships in the mortgage approval time
for the financial services company. 16 %
Unacceptable
Did not submit or incompletely
used the data shown in the table to
conduct a design of experiment
(DOE) in order to test cause-and-
effect relationships in the
mortgage approval time for the
financial services company.
Needs Improvement
Partially used the data shown in
the table to conduct a design of
experiment (DOE) in order to test
cause-and-effect relationships in
the mortgage approval time for the
financial services company.
Competent
Satisfactorily used the data shown
in the table to conduct a design of
experiment (DOE) in order to test
cause-and-effect relationships in
the mortgage approval time for the
financial services company.
Exemplary
Thoroughly used the data shown
in the table to conduct a design of
experiment (DOE) in order to test
cause-and-effect relationships in
the mortgage approval time for the
financial services company.
Determine the graphical display tool (interaction effects chart, scatter chart,
et cetera) that you would use to present the results of the DOE that you
conducted in Question 1. Provide a rationale for your response. 16 %
Unacceptable
Did not submit or incompletely
determined the graphical display
tool (interaction effects chart,
scatter chart, et cetera) that you
would use to present the results of
the DOE that you conducted in
Question 1. Did not submit or
incompletely provided a rationale
for your response.
Needs Improvement
Partially determined the graphical
display tool (interaction effects
chart, scatter chart, et cetera) that
you would use to present the
results of the DOE that you
conducted in Question 1. Partially
provided a rationale for your
response.
Competent
Satisfactorily determined the
graphical display tool (interaction
effects chart, scatter chart, et
cetera) that you would use to
present the results of the DOE that
you conducted in Question 1.
Satisfactorily provided a rationale
for your response.
Exemplary
Thoroughly determined the
graphical display tool (interaction
effects chart, scatter chart, et
cetera) that you would use to
present the results of the DOE that
you conducted in Question 1.
Thoroughly provided a rationale for
your response.
Assess the data sampling method by determining if the sample size is
sufficient, determining if effects of variables can be measured,
recommending a sample size for future study, and stating what analysis can
be done with larger sample sizes. 16 %
Unacceptable
Did not submit or incompletely
assessed the data sampling
method by determining if the
sample size is sufficient,
determining if effects of variables
can be measured, recommending
a sample size for future study, and
Needs Improvement
Partially assessed the data
sampling method by determining if
the sample size is sufficient,
determining if effects of variables
can be measured, recommending
a sample size for future study, and
stating what analysis can be done
with larger sample sizes.
Competent
Satisfactorily assessed the data
sampling method by determining if
the sample size is sufficient,
determining if effects of variables
can be measured, recommending
a sample size for future study, and
stating what analysis can be done
with larger sample sizes.
Exemplary
Thoroughly assessed the data
sampling method by determining if
the sample size is sufficient,
determining if effects of variables
can be measured, recommending
a sample size for future study, and
stating what analysis can be done
with larger sample sizes.
https://research.strayer.edu/
stating what analysis can be done
with larger sample sizes.
Provide other variable responses that might be of interest to measure and
study. 16 %
Unacceptable
Did not submit or incompletely
provided other variable responses
that might be of interest to
measure and study.
Needs Improvement
Partially provided other variable
responses that might be of interest
to measure and study.
Competent
Satisfactorily provided other
variable responses that might be
of interest to measure and study.
Exemplary
Thoroughly provided other variable
responses that might be of interest
to measure and study.
Propose one overall recommendation to the financial services company,
based on the DOE, that could help reduce mortgage approval times. 16 %
Unacceptable
Did not submit or incompletely
proposed one overall
recommendation to the financial
services company, based on the
DOE, that could help reduce
mortgage approval times. Did not
submit or incompletely provided a
rationale for your response.
Needs Improvement
Partially proposed one overall
recommendation to the financial
services company, based on the
DOE, that could help reduce
mortgage approval times. Partially
provided a rationale for your
response.
Competent
Satisfactorily proposed one overall
recommendation to the financial
services company, based on the
DOE, that could help reduce
mortgage approval times.
Satisfactorily provided a rationale
for your response.
Exemplary
Thoroughly proposed one overall
recommendation to the financial
services company, based on the
DOE, that could help reduce
mortgage approval times.
Thoroughly provided a rationale for
your response.
Complete presentation requirements. 10 %
Unacceptable
Presentation does not have 10
slides in addition to a cover slide
and a reference slide. There is no
consistent theme or design and
slides are difficult to read.
Needs Improvement
Presentation does not have 10
slides in addition to a cover slide
and a reference slide and/or there
is no consistent theme or design in
the presentation. Some slides may
be difficult to read.
Competent
Presentation includes at least 10
slides in addition to a cover slide
and a reference slide. There is a
theme or design throughout the
presentation but some slides may
contain too much information to be
easily read.
Exemplary
Presentation includes 10 or more
slides in addition to a cover slide
and a reference slide. There is a
consistent theme or design
throughout and all slides are easy
to read.
Writing and support for ideas. 5 %
Unacceptable
Rarely uses reasons and evidence
that logically support ideas.
Needs Improvement
Partially uses reasons and
evidence that logically support
ideas.
Competent
Mostly uses reasons and evidence
that logically support ideas.
Exemplary
Consistently uses reasons and
evidence that logically support
ideas.
Writing, grammar, and mechanics. 5 %
Unacceptable
Numerous errors in grammar,
spelling, and punctuation.
Needs Improvement
Partially free of errors in grammar,
spelling, and punctuation.
Competent
Mostly free of errors in grammar,
spelling, and punctuation.
Exemplary
Free of errors in grammar, spelling,
and punctuation.
w09a1 – Homework Assignment 6
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 6 [DOCX].
Suppose the number of equipment sales and service contracts that a store sold during the last six months for treadmills and exercise bikes was as
follows:
Equipment Sales and Service Contracts Sold
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_6 x
The store can only sell a service contract on a new piece of equipment. Of the 185 treadmills sold, 67 included a service contract and 118 did not.
Complete the following questions in the space provided below:
1. Construct a 95 percent confidence interval for the difference between the proportions of service contracts sold on treadmills versus exercise bikes.
2. Is there a major difference between the two pieces of equipment? Why or why not?
Scoring Guide
Homework Assignment 6. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
w10a1 – Homework Assignment 7
Summary
Click the linked activity title to access this assignment.
Text
Download and complete Homework Assignment 7 [DOCX].
Suppose that there are two candidates (we’ll call them Jones and Johns) in the upcoming presidential election. Sara notes that she has discussed the
presidential election candidates with 15 friends, and 10 said that they are voting for candidate Jones. Sara is therefore convinced that candidate Jones
will win the election because Jones gets more than 50% of votes.
Answer the following questions in the space provided below:
1. Based on what you now know about statistical inference, is Sara’s conclusion a logical conclusion? Why or why not?
2. How many friend samples Sara should have in order to draw the conclusion with 95% confidence interval? Why?
3. How would you explain your conclusion to Sara without using any statistical jargon? Why?
Complete this assignment using the attached template.
Scoring Guide
Homework Assignment 7. 100 %
Unacceptable
Did not or insufficiently completed homework.
Exemplary
Sufficiently completed homework.
https://atlas.capella.edu/Course_Files/cf_MAT510_homework_assignment_7 x
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