# SOLUTION: Walden University Statistics Worksheet

SOLUTION: Walden University Statistics Worksheet.

MAT510 Strayer University Mortgage Approval Time Study Case Study 2

Case Study 2: Mortgage Approval Time Study Read the following case study:A
major financial services company wishes to better understand its
mortgage approval process. In particular, the company is interested in
learning about the effects of credit history (good versus fair), the
size of the mortgage (<\$500,000 versus >\$500,000), and the region
of the United States (western versus eastern) on the amount of time it
takes to get a mortgage approved. The database of mortgages approved in
the last year is accessed, and a random sample of five approved
mortgages is selected for each of the eight combinations of the three
variables. The data are shown in the tableMortgage Approval Time Study Credit History Mortgage Size Region Approval Times (Days)Good <\$500,000 Western 59 50 64 62 47Fair <\$500,000 Western 81 58 69 65 74Good >\$500,000 Western 38 52 58 60 65Fair >\$500,000 Western 146 159 133 143 129Good <\$500,000 Eastern 28 26 38 41 21Fair <\$500,000 Eastern 42 53 40 50 64Good >\$500,000 Eastern 49 31 49 42 38Fair >\$500,000 Eastern 106 115 126 118 138First, conduct an analysis using the following steps:Use
the data shown in the table to conduct a design of experiment (DOE) in
Microsoft Excel in order determine the nature and magnitude of the
effects of the three variables on mortgage approval times. What are the
key drivers of this process?
Determine
the graphical display tool (e.g., Interaction Effects Chart, Scatter
Chart, etc.) that you would use to present the results of the DOE that
you conducted in Question 1. Provide a rationale for your response.
Assess
the data sampling method. Our sample contained only five mortgages per
combination. Under what circumstances would it have been appropriate to
select a larger sample? Is a sample of five mortgages adequate to access
the relative magnitudes of the effects of the variables? What sample
size would you recommend? What could you learn from a larger sample
size? (Hint: Look back at chapter 2, 3, 5, and 6 for discussion of
sampling.)
Provide
other variable responses that might be of interest to measure and
study. (Hint: If you were getting a mortgage or a loan, what are the two
and most important measures of the process you would have to go
through?)
Propose
one overall recommendation to the financial services company, based on
the DOE, that could help reduce mortgage approval times.
Use http://research.strayer.edu
to identify at least two (2) quality references to support your
discussion. Note: Wikipedia and other Websites do not qualify as
Second,
create a PPT presentation to communicate the data analysis you
completed. Your presentation must follow these formatting requirements:A PPT presentation with at least 10 slides that include the answers to questions 1 through 5.
A reference slide which follows APA format. Check with your professor for any additional instructions.
Formatting of the slides should be consistent and easy to read.
Cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
Note: The cover slides and the reference slides are not included in the required assignment slides length.The specific course learning outcome associated with this assignment is:Develop recommendations to improve business processes, using statistical tools and analysis.
for this assignment will be based on answer quality, logic /
organization of the paper, and language and writing skills, using the
following rubric:Case Study 2: Mortgage Approval Time StudyCriteriaUnacceptableBelow 70% FFair70-79% CProficient80-89% BExemplary90-100% A1.
Use the data shown in the table to conduct a design of experiment (DOE)
in order to test cause-and-effect relationships in the mortgage approval
time for the financial services company.Weight: 16%Did
not submit or incompletely used the data shown in the table to conduct a
design of experiment (DOE) in order to test cause-and-effect
relationships in the mortgage approval time for the financial services
company.Partially
used the data shown in the table to conduct a design of experiment
(DOE) in order to test cause-and-effect relationships in the mortgage
approval time for the financial services company.Satisfactorily
used the data shown in the table to conduct a design of experiment
(DOE) in order to test cause-and-effect relationships in the mortgage
approval time for the financial services company.Thoroughly
used the data shown in the table to conduct a design of experiment
(DOE) in order to test cause-and-effect relationships in the mortgage
approval time for the financial services company.2.
Determine the graphical display tool (e.g., Interaction Effects Chart,
Scatter Chart, etc.) that you would use to present the results of the
DOE that you conducted in Question 1. Provide a rationale for your
response. Weight: 16%Did
not submit or incompletely determined the graphical display tool (e.g.,
Interaction Effects Chart, Scatter Chart, etc.) that you would use to
present the results of the DOE that you conducted in Question 1. Did not
submit or incompletely provided a rationale for your response.Partially
determined the graphical display tool (e.g., Interaction Effects Chart,
Scatter Chart, etc.) that you would use to present the results of the
DOE that you conducted in Question 1. Partially provided a rationale for
determined the graphical display tool (e.g., Interaction Effects Chart,
Scatter Chart, etc.) that you would use to present the results of the
DOE that you conducted in Question 1. Satisfactorily provided a
determined the graphical display tool (e.g., Interaction Effects Chart,
Scatter Chart, etc.) that you would use to present the results of the
DOE that you conducted in Question 1. Thoroughly provided a rationale
Assess the data sampling method by determining if the sample size is
sufficient, determining if effects of variables can be measured,
recommending a sample size for future study, and stating what analysis
can be done with larger sample sizes.Weight: 16%Did
not submit or incompletely assessed the data sampling method by
determining if the sample size is sufficient, determining if effects of
variables can be measured, recommending a sample size for future study,
and stating what analysis can be done with larger sample sizes.Partially
assessed the data sampling method by determining if the sample size is
sufficient, determining if effects of variables can be measured,
recommending a sample size for future study, and stating what analysis
can be done with larger sample sizes.Satisfactorily
assessed the data sampling method by determining if the sample size is
sufficient, determining if effects of variables can be measured,
recommending a sample size for future study, and stating what analysis
can be done with larger sample sizes.Thoroughly
assessed the data sampling method by determining if the sample size is
sufficient, determining if effects of variables can be measured,
recommending a sample size for future study, and stating what analysis
can be done with larger sample sizes.4. Provide other variable responses that might be of interest to measure and study.Weight: 16%Did not submit or incompletely provided other variable responses that might be of interest to measure and study.Partially provided other variable responses that might be of interest to measure and study.Satisfactorily provided other variable responses that might be of interest to measure and study.Thoroughly provided other variable responses that might be of interest to measure and study.5.
Propose one overall recommendation to the financial services company,
based on the DOE, that could help reduce mortgage approval times.Weight: 16%Did
not submit or incompletely proposed one overall recommendation to the
financial services company, based on the DOE, that could help reduce
mortgage approval times. Did not submit or incompletely provided a
proposed one overall recommendation to the financial services company,
based on the DOE, that could help reduce mortgage approval times.
Partially provided a rationale for your response.Satisfactorily
proposed one overall recommendation to the financial services company,
based on the DOE, that could help reduce mortgage approval times.
Satisfactorily provided a rationale for your response.Thoroughly
proposed one overall recommendation to the financial services company,
based on the DOE, that could help reduce mortgage approval times.
Thoroughly provided a rationale for your response.6. Presentation RequirementsWeight: 10%Presentation
does not have 10 slides in addition to a cover slide and a reference
slide. There is no consistent theme or design and slides are difficult
does not have 10 slides in addition to a cover slide and a reference
slide and/or there is no consistent theme or design in the presentation.
Some slides may be difficult to read. Presentation
includes at least 10 slides in addition to a cover slide and a
reference slide. There is a theme or design throughout the presentation,
but some slides may contain too much information to be easily read. Presentation
includes 10 or more slides in addition to a cover slide and a reference
slide. There is a consistent theme or design throughout, and all slides
are easy to read. 7. Writing / Support for IdeasWeight: 5%Rarely uses reasons and evidence that logically support ideas.Partially uses reasons and evidence that logically support ideas.Mostly uses reasons and evidence that logically support ideas.Consistently uses reasons and evidence that logically support ideas.8. Writing / Grammar and MechanicsWeight: 5%Numerous errors in grammar, spelling, and punctuation.Partially free of errors in grammar, spelling, and punctuation.Mostly free of errors in grammar, spelling, and punctuation.Free of errors in grammar, spelling, and punctuation.

SOLUTION: Walden University Statistics Worksheet

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