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SuperFun Toys Case Study, statistics homework help
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SuperFun Toys Case Study, statistics homework help
Assignment Steps Resources: Microsoft Excel®, SuperFun Toys Case Study, SuperFun Toys Case Study Data Set Review the SuperFun Toys Case Study and Data Set. Develop a 1,050-word case study analysis including the following: Use the sales forecaster's prediction to describe a normal probability distribution that can be used to approximate the demand distribution.Sketch the distribution and show its mean and standard deviation. Hint: To find the standard deviation, think Empirical Rule covered in Week 1.Compute the probability of a stock-out for the order quantities suggested by members of the management team (i.e. 15,000; 18,000; 24,000; 28,000).Compute the projected profit for the order quantities suggested by the management team under three scenarios: pessimistic in which sales are 10,000 units, most likely case in which sales are 20,000 units, and optimistic in which sales are 30,000 units.One of SuperFun's managers felt the profit potential was so great the order quantity should have a 70% chance of meeting demand and only a 30% chance of any stock- outs. What quantity would be ordered under this policy, and what is the projected profit under the three sales scenarios?Format your assignment consistent with APA format
Walden University Statistical Process Control for Failure Rates Discussion
Ross, T. K. (2014). Health care quality management: Tools and applications. San Francisco, CA: Jossey-Bass.
Chapter 7, ...
Walden University Statistical Process Control for Failure Rates Discussion
Ross, T. K. (2014). Health care quality management: Tools and applications. San Francisco, CA: Jossey-Bass.
Chapter 7, "Statistical Process Control for Monitoring Failure Rates” (pp. 265–299)
Arthur, J. (2016). Statistical process control for health care. Quality Digest. Available at https://www.qualitydigest.com/currentmag/articles/03_article.shtml
U.S. Department of Commerce, National Institute of Standards and Technology. (2016). NIST/SEMATECH e-handbook of statistical methods. Retrieved from http://www.itl.nist.gov/div898/handbook
Required Media
Emmanuel, J. (2015c). Statistical process control: Control charts for proportions (p-chart). Retrieved from https://www.youtube.com/watch?v=LSd-1CJQbs8
Discussion: Statistical Process Control for Failure Rates
P and np charts are appropriate for dichotomous data in categorizing which processes are in control and which processes are failing. As a current or future health care administration leader, your commitment to quality will reinforce the use of these charts to execute decision making for the promotion of efficient and effective health care delivery systems.
For this Discussion, review the resources for this week regarding control charts for attribute variables. Then, evaluate how your organization, or one with which you are familiar, might use the control chart to evaluate whether a process is in control.
NOTE: For this Discussion, you will be required to run the SPSS software platform.
By Day 3
Post a description of one of the control charts presented in the resources for this week and explain a process where it might be used. Be specific and provide examples. Then, create the appropriate control chart for the process you described using fictitious data. Attach this chart to your discussion. Do not use real data. Explain whether the process you chose is under control or not, and explain why. Attach the SPSS sheet.
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Most Popular Content
5 pages
Prealg Chapter 6 Quiz Fall 2020 Gradescope
3. What is the formula we would use to determine the TOTAL number of Hamilton circuits we could create using the BRUTE-FOR ...
Prealg Chapter 6 Quiz Fall 2020 Gradescope
3. What is the formula we would use to determine the TOTAL number of Hamilton circuits we could create using the BRUTE-FORCE algorithm on a graph ...
8 pages
Trigonometry Of Temperatures Answer
Sources: https://www.currentresults.com/Weather/Ohio/Places/toledo-temperatures-bymonth-average.php Using the graph to det ...
Trigonometry Of Temperatures Answer
Sources: https://www.currentresults.com/Weather/Ohio/Places/toledo-temperatures-bymonth-average.php Using the graph to determine the following values ...
6 pages
Deliverable 05 Worksheet
1. Market research has determined the following changes in the polls based on the different combinations of choices for th ...
Deliverable 05 Worksheet
1. Market research has determined the following changes in the polls based on the different combinations of choices for the two candidates on the tax ...
SuperFun Toys Case Study, statistics homework help
Assignment Steps Resources: Microsoft Excel®, SuperFun Toys Case Study, SuperFun Toys Case Study Data Set Review the Supe ...
SuperFun Toys Case Study, statistics homework help
Assignment Steps Resources: Microsoft Excel®, SuperFun Toys Case Study, SuperFun Toys Case Study Data Set Review the SuperFun Toys Case Study and Data Set. Develop a 1,050-word case study analysis including the following: Use the sales forecaster's prediction to describe a normal probability distribution that can be used to approximate the demand distribution.Sketch the distribution and show its mean and standard deviation. Hint: To find the standard deviation, think Empirical Rule covered in Week 1.Compute the probability of a stock-out for the order quantities suggested by members of the management team (i.e. 15,000; 18,000; 24,000; 28,000).Compute the projected profit for the order quantities suggested by the management team under three scenarios: pessimistic in which sales are 10,000 units, most likely case in which sales are 20,000 units, and optimistic in which sales are 30,000 units.One of SuperFun's managers felt the profit potential was so great the order quantity should have a 70% chance of meeting demand and only a 30% chance of any stock- outs. What quantity would be ordered under this policy, and what is the projected profit under the three sales scenarios?Format your assignment consistent with APA format
Walden University Statistical Process Control for Failure Rates Discussion
Ross, T. K. (2014). Health care quality management: Tools and applications. San Francisco, CA: Jossey-Bass.
Chapter 7, ...
Walden University Statistical Process Control for Failure Rates Discussion
Ross, T. K. (2014). Health care quality management: Tools and applications. San Francisco, CA: Jossey-Bass.
Chapter 7, "Statistical Process Control for Monitoring Failure Rates” (pp. 265–299)
Arthur, J. (2016). Statistical process control for health care. Quality Digest. Available at https://www.qualitydigest.com/currentmag/articles/03_article.shtml
U.S. Department of Commerce, National Institute of Standards and Technology. (2016). NIST/SEMATECH e-handbook of statistical methods. Retrieved from http://www.itl.nist.gov/div898/handbook
Required Media
Emmanuel, J. (2015c). Statistical process control: Control charts for proportions (p-chart). Retrieved from https://www.youtube.com/watch?v=LSd-1CJQbs8
Discussion: Statistical Process Control for Failure Rates
P and np charts are appropriate for dichotomous data in categorizing which processes are in control and which processes are failing. As a current or future health care administration leader, your commitment to quality will reinforce the use of these charts to execute decision making for the promotion of efficient and effective health care delivery systems.
For this Discussion, review the resources for this week regarding control charts for attribute variables. Then, evaluate how your organization, or one with which you are familiar, might use the control chart to evaluate whether a process is in control.
NOTE: For this Discussion, you will be required to run the SPSS software platform.
By Day 3
Post a description of one of the control charts presented in the resources for this week and explain a process where it might be used. Be specific and provide examples. Then, create the appropriate control chart for the process you described using fictitious data. Attach this chart to your discussion. Do not use real data. Explain whether the process you chose is under control or not, and explain why. Attach the SPSS sheet.
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