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MAT 510 WEEK 7 HOMEWORK ASSIGNMENT 6

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  • danny
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MAT 510 WEEK 7 HOMEWORK ASSIGNMENT 6

MAT510 Week 7 Homework Assignment 6 STR

Due in Week 7 and worth 30 points

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       New Process  
 

 

Week

Elapsed Time    

 

Week

Elapsed Time
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
10 31.3   22 25.2
11 38.6   23 24.5
12 39.3   24 23.5

 

Use the date in 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 + b1x, 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.)

 


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MAT 510 Week 7 Homework Assignment 6 Strayer

Answer Posted By

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  • gallantkellly
  • Questions : 147
  • Solutions : 336
Solution Description

xxxxxx in xxxx 7 xxx worth xx points

The xxxx in xxx table xxxxx is xxxx a xxxxx conducted xx an xxxxxxxxx company xx determine xxx effect xx changing xxx process xx which xxxxxxxxx claims xxx approved. xxx goal xxx to xxxxxxx policyholder xxxxxxxxxxxx by xxxxxxxx up xxx process xxx eliminating xxxx non-value-added xxxxxxxx steps xx the xxxxxxxx The xxxxxxxx measured xxx the xxxxxxx time xxxxxxxx to xxxxxxx and xxxx all xxxxxx initiated xx a xxxxx The xxx procedure xxx tested xxx 12 xxxxxx and xxx results xxxx compared xx the xxxxxxx performance xxx the xx weeks xxxxx to xxxxxxxxxxx the xxxxxxxxxxxxx

 

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$ 12
MAT 510 Week 7 Homework Assignment 6

Answer Posted By

online
  • gallantkellly
  • Questions : 147
  • Solutions : 336
Solution Description

xxxxxxxxxxxxxxxxx Week x Homework xxxxxxxxxx 6 xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx in xxxx 7 xxx worth xx points

The xxxx in xxx table xxxxx is xxxx a xxxxx conducted xx an xxxxxxxxx company xx determine xxx effect xx changing xxx process xx which xxxxxxxxx claims xxx approved. xxx goal xxx to xxxxxxx policyholder xxxxxxxxxxxx by xxxxxxxx up xxx process xxx eliminating xxxx non-value-added xxxxxxxx steps xx the xxxxxxxx The xxxxxxxx measured xxx the xxxxxxx time xxxxxxxx to xxxxxxx and xxxx all xxxxxx initiated xx a xxxxx The xxx procedure xxx tested xxx 12 xxxxxx and xxx results xxxx compared xx the xxxxxxx performance xxx the xx weeks xxxxx to xxxxxxxxxxx the xxxxxxxxxxxxxxxxxxxxxxxx Insurance xxxxx Approval xxxxx (days)

    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx New Process  
 

 

Week

Elapsed Time    

 

Week

Elapsed Time
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
10 31.3   22 25.2
11 38.6   23 24.5
12 39.3   24 23.5

 

Use xxx date xx table xxxxx and xxxxxx the xxxxxxxxx questions xx the xxxxx provided xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx was xxx average xxxxxx of xxx process xxxxxxx Did xxx process xxxxxxx increase xx decrease xxx by xxx much?

  • Analyze xxx data xxxxx the xxxxxxxxxx model y = b0 xxxxxxxxxxxxxxxxxxxxxxxxxxxxx where y = xxxx to xxxxxxx and xxxx a xxxxx (weekly xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 0 xxx the xxx process, xxxxxxxxxxxxxxxxxxxxxxxxxx 1 xxx the xxx process.
  • How xxxx this xxxxx measure xxx effect xx the xxxxxxx change?
  • How xxxx did xxx process xxxxxxxxxxx change xx the xxxxxxxx (Hint: xxxxxxx the xxxxxx of b1 xxx the xxxxxxx of xxx process xxxxxxxxxxx minus xxx average xx the xxxxxxxxxxx of xxx old xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

     

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