Understanding Input and Output correlation Write the equation that is at the core of a Six Sigma organization. Are the key business objectives (or measures) considered the input or output variables of a process? What variable do we use to represent these measures? Are the controllable and non-controllable variables that affect the key business objectives considered the input or output variables of a process? What variable do we use to represent them?
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Understanding Input and Output correlation
- Write the equation that is at the core of a Six Sigma organization.
- Are the key business objectives (or measures) considered the input or output variables of a process? What variable do we use to represent these measures?
- Are the controllable and non-controllable variables that affect the key business objectives considered the input or output variables of a process? What variable do we use to represent them?
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- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?A restaurant wants to forecast its weekly sales. Historical data (in dollars) for 15 weeks are shown in this Excel file (also shown in Problem 6 on page 243 in the textbook). Answer the following questions related to this information: What is the MSE for the two- and three-period moving average models? Compare the results. Find the best number of periods for the moving average model based on MSE..A 45 kW rated solar power system has its power output and the Solar irradiance on the PV system measured during daylight hours over a day. Based on the following data, create a scatter plot of the power output of the PV system vs the solar irradiance and comment on the relationship between the two. Based on the data, can you tell which season this day was in? Solar Irradiance on the PV system (kW/m²) 0 0.079 0.333 0.571 0.751 0.86 0.914 0.93 0.904 0.803 0.606 0.345 0.054 Power output from the PV system (kW) 0 3.098 12.438 20.124 25.703 28.498 29.587 29.69 28.798 26.264 20.434 12.223 2
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- Last year's Easter campaign produced these results: 28% of the target audience was exposed 1 time; 21% of the target audience was exposed 2 times; 15% of the target audience was exposed 3 times; 12% of the target audience was exposed 4 times; and no one was exposed more than 4 times. Calculate total GROSS RATING POINTS for the Blue Bunny Easter campaign.A company is researching the effectiveness of a new website design to decrease the time to access a website. 32 website users were randomly selected, and their time (in seconds) to access the website with the old and new designs were recorded. The summary statistics for the two sets of data are given in Table Q3-1, and the test results are given in Table Q3-2 and Q3-3. Apply an appropriate hypothesis testing method to test whether the new website design can decrease the time to access the website at the significance level of 5%.What is linear regression? Can linear regression be automatically calculated in SPSS?
- Sales for the past 12 months at computer success are given here: January 3,000 July 6,300 february 3,400 August 7,200 March 3,700 Sept 6,400 April 4,100 Oct 4,600 May 4,700 Nov 4,200 June 5,700 December 3,900 a. Use a 3-month moving average to forecast the sales for the months May through December b. Use a 4-month moving average to forecast the sales for the months May through December C. Compare the performance of the two methods by using the mean absolute deviation as the performance criterion. Which method would you recommend? d. Compare the performance of the two methods by using the mean absolute percent error as the performance criterion. Which method would you recommend? e. Compare the performance of the two methods by using the mean squared error as the performance criterion. Which method would you recommend?Coronado Company gathered the following data about the three products that it produces: PresentProduct Estimated SalesValue beforeProcessing AdditionalProcessing Costs Estimated Salesif Processed Further A $8700 $5500 $16200 B 15500 5000 18200 C 10500 7600 15600 Which of the products should be processed further? Product A Product C Product B All three productsA company is introducing reusable straws in the market on the 1st of January 2022. They estimate the total market for reusable straws is approximately 3 million per year. The company expects to sell 500000 straws in the first year. There is a competitor already in the market whose sales per year is 1 million straws per year. Your group have been hired as consultants to answer the following questions: What forecasting techniques should the company use for a) sales this year b) sales next year and c) sales in the next five years? Please justify your recommendations. Please provide forecast figures from year 2 to year 5. I want step by step calculation for exponential smoothing for the year 2 to 5 forecast.