MAT 510 Homework Assignment 10  SOLVED

MAT 510 Homework Assignment 10 SOLVED

MAT 510 Homework Assignment 10

Homework Assignment 6

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 Timesolved:MAT 510 HW9
Due in week 10 and worth 30 points

Suppose that there are two (2) candidates (i.e., 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:

Based on what you now know about statistical inference, is Sara’s conclusion a logical conclusion? Why or why not?
How many friend samples Sara should have in order to draw the conclusion with 95% confidence interval? Why?
How would you explain your conclusion to Sara without using any statistical jargon? Why?
5



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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