Process Capability (Cpk and Cp) The operations manager of an insurance claimsprocessing department wants to determine the claims-processing capability. Claims usually take a minimum of four days to handle. The company has a commitment to handle all claims within 10 days. On average, claims are processed in eight days and processing has a standard deviation of one day.a. Compute Cp and Cpk for the claims-processing department. Based on these computations, should the claims department improve its process?b. Using the same data, recompute Cpk, but use an average claims-processing time of seven days instead of eight days.c. Using the original data, recompute Cpk, but use a standard deviation of 2/3 of a day. Which change made the most improvement—the change in mean in part b or the change in standard deviation? Can you explain the results?

Process Capability (Cpk and Cp) The operations manager of an insurance claimsprocessing department wants to determine the claims-processing capability. Claims usually take a minimum of four days to handle. The company has a commitment to handle all claims within 10 days. On average, claims are processed in eight days and processing has a standard deviation of one day.a. Compute Cp and Cpk for the claims-processing department. Based on these computations, should the claims department improve its process?b. Using the same data, recompute Cpk, but use an average claims-processing time of seven days instead of eight days.c. Using the original data, recompute Cpk, but use a standard deviation of 2/3 of a day. Which change made the most improvement—the change in mean in part b or the change in standard deviation? Can you explain the results?

MARKETING 2018

19th Edition

ISBN:9780357033753

Author:Pride

Publisher:Pride

Chapter1: An Overview Of Strategic Marketing

Section1.2: Dollar Shave Club: The Company For Men

Problem 1C

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