MAT 510 Week 7 Assignment Help | strayer university
- strayer university / MAT 510
- 24 Feb 2021
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MAT 510 Week 7 Assignment Help | strayer university
Homework
The data in the table are 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 expediting the
process and eliminating some extraneous 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 |
|
10 |
31.5 |
22 |
25.2 |
|
11 |
38.6 |
23 |
24.5 |
|
12 |
39.3 |
24 |
23.5 |
Use the data in the table and submit the answers to the
following questions in a Word document:
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.)
USA 
India