Assignment Instructions
Insurance company.

Table is doownloaded in question aslo.

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   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 + bx, 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.)
  • attachmentcf_MAT510_homework_assignment_5.docx

Insurance company

Calculate Price


Price (USD)
$

This assignment has been solved!

Place your order for a custom solution to this or a similar paper.

Why Choose Us For Your Assignment?

Privacy

We value all our customers' privacy. For that reason, all information stays private and confidential and will never be shared with third parties.

Punctuality

With our service you will never miss a deadline. We use strict follow-ups with our writers to ensure that all papers are submitted on time.

Authenticity

We have no tolerance for plagiarism. All papers go through thorough checking to ensure that no assignments contain plagiarism.

Money Back

You feel unsatisfied with your results? No worries. We offer refunds to our customers if any paper is not written according to the instructions.

Clients Love Us

Client #121678
Client #121678
Read More
This is by far the best I have ever scored in a custom essay. I am surprised the writer handled this assignment so well despite the short notice. I will definitely use your service next time.
Client #21702
Client #21702
Read More
When I was recommended to you by my friends, I wasn't sure you could deliver excellent results for Masters research papers until I submitted my first order. I am all yours now.
Client #20730
Client #20730
Read More
Excellent Services! You are the only assignment helper I can rely on. I have worked with many before and your services are exceptional. I have recommended you to my friends and the results are similar.
Client #20387
Client #20387
Read More
I rarely write reviews online but your services are worth promoting. My paper was so urgent I was sure I was gonna miss the deadline but you turned things around. You are awesome!
Client #20189
Client #20189
Read More
I am a satisfied customer. I know I should have given a 5 star because you deserve it but I will give 4.6 because I almost missed a deadline because of a revision. Luckily it was minor and the writer acted promptly.
Client #20187
Client #20187
Read More
Great paper but there is still some room for improvement. I am impressed by your fast responses and how you tacked my concerns professionally. Thank you for being among the few genuine essay writing service providers.
Client #19783
Client #19783
Read More
I can't thank you enough for being a great part of my college life. I recommended you to two more of my friends. I am sure they will be making their orders soon. I love the fact that you offer free pages for referrals. I will be referring a few more and maybe I won't have to pay for my next two paper, LOL.
Previous
Next