Respond to the following discussion prompt in a minimum of 175 - 500 words:Many business activities generate data that can be thought of as random. An example described in the textbook is the servicing of cars at an oil change shop. Each car entering the shop can be considered an experiment with random outcomes. A variable of interest in this experiment could be the amount of time necessary to service the car. Service time will vary randomly with each car.We can often capture the most relevant characteristics of a stochastic process with a simple probability distribution model. We can then analyze the model to make predictions and drive decisions. For instance, we could estimate the number of technicians the oil change shop needs to service demand on a Saturday afternoon. Discuss the following:What is a random variable?How would you differentiate a discrete from a continuous random variable?A laptop manufacturing company has implemented a 2-step process to test the quality of each production batch. In the first step, a technician randomly selects 15 laptops from the batch and determines whether they meet specifications. The batch is considered acceptable provided no more than 1 laptop fails to meet specifications. Otherwise, the entire batch must be tested in the second step. Historical data shows that 95% of the laptops produced adhere to specifications. Discuss the following:What are the 4 characteristics of a binomial experiment?Can we use a binomial distribution to model this process?What is the probability that the entire batch unnecessarily has to be tested if in fact 95% of its laptops conform to specifications? (Hint: Use Excel’s =BINOMDIST() function to find the probability.)What is the probability that the batch is incorrectly accepted if only 75% of its laptops conform to specifications?

In this project, you will demonstrate your mastery of the following competency:Propose informed solutions to common management problems in order to enhance organizational operationsScenarioYou are a new manager at Mountain Top View Inc. In this role, you oversee the three store locations, each with their own store manager. One of the first tasks the owners ask you to do is to provide recommendations for addressing current issues and for supporting the company’s strategic initiatives. They are looking forward to your informed, fresh perspective.Mountain Top View Inc. Company OverviewA few years ago, based on their love of the outdoors, John and Ann Applewood started a small outdoor equipment business called Mountain Top View Inc. The company has expanded so rapidly over the past few years that it is now a publicly traded corporation. They have three stores located across the northeastern United States. Additionally, they have a strong international customer base and sell their products online.Data/MetricsCurrent Performance MeasurementsThe table below shows data that is currently being measured across the different stores.Store Location OneStore Location TwoStore Location ThreeSales per quarter1 million1.5 million1.7 millionExpenses per quarter900,0001 million1.6 millionAverage employee satisfaction based on survey results (1= very dissatisfied, 5=Very satisfied)332Employee turnover rate25%35%45%Average customer satisfaction based on survey results (1= very dissatisfied, 5=Very satisfied)232Organizational StructureThe company has a few different levels of organizational structure in place to manage the storefronts, the website, and sales.Marketing Each of the three stores has two marketing representatives. Their jobs are to manage the website and social media as well as to create and manage the store’s visual marketing aspects.The marketing representatives have voiced that they feel disconnected from one store to another. In addition, customers who visit multiple stores often comment that the stores have a very different layout and “feel” from one location to another.Technology There is team of five people who manage the website and address customer technology issues with the website or ordering.This team works remotely.There is a need to integrate this team with the organization in a more effective way. Customers will sometimes reach out to the stores directly, either in person or via phone, if they have difficulty with orders, and often the representatives are not sure where to direct them for help.Cashiers and Customer SupportDays and TimesStore Location OneStore Location TwoStore Location ThreeM–F, 9 a.m.–3 p.m.5 employees trained in both customer service and using the cash register6 employees trained in both customer service and using the cash register5 employees trained in both customer service and using the cash registerM–F, 3 p.m.–7 p.m.3 employees trained in both customer service and using the cash register2 employees trained in both customer service and using the cash register2 employees trained in both customer service and using the cash registerSaturday and Sunday,9 a.m.–11 a.m. and 5 p.m.–7 p.m.3 employees trained in both customer service and using the cash register2 employees trained in both customer service and using the cash register2 employees trained in both customer service and using the cash registerSaturday and Sunday,11 a.m.–5 p.m.4 employees trained in both customer service and using the cash register3 employees trained in both customer service and using the cash register3 employees trained in both customer service and using the cash registerAverage Sales per HourDays and TimesStore Location OneStore Location TwoStore Location ThreeM–F, 9 a.m.–3 p.m.$291$150$210M–F, 3 p.m.–7 p.m.$550$490$510Saturday and Sunday,9 a.m.–11 a.m. and 5 p.m.–7 p.m.$650$600$590Saturday and Sunday,11 a.m.–5 p.m.$750$780$710Management Each store has one general manager whose responsibilities include managing employees and managing and ordering inventory. Managers work Monday through Friday from 8 a.m. to 5 p.m. and are expected to support as needed when they are working.Strategic InitiativesThe company knows that in order to move forward, it will need to make some changes. The owners have shared their strategic initiatives for the upcoming year, which are the following: Increase efforts to focus on interdepartmental collaboration in order to create more agile work processesDevelop a systematic and consistent approach to motivate and empower employeesAppropriately allocate resources to maximize efficiencyDirectionsJohn and Ann have asked you to recommend a strategy for using metrics to address current workplace issues and supporting business initiatives for continuous improvement. They requested that you submit your recommendations in a formal management recommendations email.Workplace Issues and Solutions: John and Ann have identified that there are areas for opportunity based on current metrics, and they are looking forward to your recommendations related to current performance measurements and resource allocation. They would like you to use the current performance metrics as a basis for your recommendations. Explain the use of metrics and data analysis for identifying root causes and proposing informed solutions to organizational issues. In your response, include the following: Considering the company’s current performance metrics, describe potential use of the information as a basis to determine the root cause of the issue.How does identifying the root cause of the problem or issue inform effective solutions?Describe the use of metrics for improving employee performance and increasing opportunities. Include the following in your response: How should metrics and data be used and presented to support increased personal and professional growth in business settings?What are common issues in presenting performance metrics to employees, and how can inefficient presentation of metrics negatively impact employees and the workplace environment?How should metrics and data be used to connect to and measure organizational goals related to employee performance and incentive?Describe effective use of metrics for improving resource allocation and continuous improvement. Include the following in your response: How can metrics be used to identify opportunities to better allocate human resources and financial resources and support the company in its strategic initiatives?How can metrics be used to identify gaps in current processes based on how the company is currently allocating its resources?Future Considerations: In addition to asking you to identify existing workplace issues, John and Ann have asked that you propose an informed solution and discuss strategies that the company should consider in obtaining its goals. They have also asked that you explain potential limitations of metrics so that they can ensure that their store managers are interpreting metrics in a way that benefits the company and its employees. Describe the benefit of using measurable and focused metrics for supporting the company in reaching its strategic growth initiatives. Include the following in your response: Discuss metrics and performance measurements you would collect to support the company in meeting its strategic goals. Explain how you would collect the data and how it would support company goals and initiatives.How should metrics and data be used to connect to and measure organizational goals related to increasing interdepartmental collaboration and efficiency?Discuss potential limitations of metrics for informing management about business issues. Include the following in your response: Why is a human element important in measuring employee and organizational success, and when does it matter most?What elements does data not account for, and how should managers consider these limitations in their interpretation of data?What ethical considerations should managers consider when gathering, evaluating, and presenting performance measures and metrics?What to SubmitEvery project has a deliverable or deliverables, which are the files that must be submitted before your project can be assessed. For this project, you must submit the following:Management Recommendations EmailYour management recommendations should be submitted as a Word document but should be written in the format of a professional email. The email should be 1 to 2 pages in length.Reference List For each source that you cite, you need to include the author’s name, the publication year, the title of the source, and the location of the source in a References section at the end of your work. Cite all sources appropriately.