{"id":32559,"date":"2022-02-13T15:28:13","date_gmt":"2022-02-13T15:28:13","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/casestudy2mortgageapprovaltimestudy-statistics-homework-help\/"},"modified":"2022-02-13T15:28:13","modified_gmt":"2022-02-13T15:28:13","slug":"casestudy2mortgageapprovaltimestudy-statistics-homework-help","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/casestudy2mortgageapprovaltimestudy-statistics-homework-help\/","title":{"rendered":"Casestudy2:mortgageapprovaltimestudy | Statistics homework help"},"content":{"rendered":"
\n

\u00a0A major financial services company wishes to better understand its \u00a0mortgage approval process. In particular, the company is interested in \u00a0learning about the effects of credit history (good versus fair), the \u00a0size of the mortgage (<$500,000 versus >$500,000), and the region \u00a0of the United States (western versus eastern) on the amount of time it \u00a0takes to get a mortgage approved. The database of mortgages approved in \u00a0the last year is accessed, and a random sample of five approved \u00a0mortgages is selected for each of the eight combinations of the three \u00a0variables. The data are shown in the table ..<\/p>\n

\u00a0<\/p>\n

First, conduct an analysis using the following steps:<\/p>\n

    \n
  1. Use the data shown in the table to conduct a design of experiment \u00a0(DOE) in Microsoft Excel in order determine the nature and magnitude of \u00a0the effects of the three variables on mortgage approval times. What are \u00a0the key drivers of this process?<\/li>\n
  2. Determine the graphical display tool (e.g., Interaction Effects \u00a0Chart, Scatter Chart, et cetera) that you would use to present the \u00a0results of the DOE that you conducted in Question 1. Provide a rationale \u00a0for your response.<\/li>\n
  3. Assess the data sampling method. Our sample contained only five \u00a0mortgages per combination. Under what circumstances would it have been \u00a0appropriate to select a larger sample? Is a sample of five mortgages \u00a0adequate to access the relative magnitudes of the effects of the \u00a0variables? What sample size would you recommend? What could you learn \u00a0from a larger sample size? (Hint: Look back at chapter 2, 3, 5, and 6 \u00a0for discussion of sampling.)<\/li>\n
  4. Provide other variable responses that might be of interest to \u00a0measure and study. (Hint: If you were getting a mortgage or a loan, what \u00a0are the two most important measures of the process you would have to go \u00a0through?)<\/li>\n
  5. Propose one overall recommendation to the financial services \u00a0company, based on the DOE, that could help reduce mortgage approval \u00a0times.<\/li>\n<\/ol>\n

    \u00a0<\/p>\n

    First, conduct an analysis using the following steps:<\/p>\n

      \n
    1. Use the data shown in the table to conduct a design of experiment \u00a0(DOE) in Microsoft Excel in order determine the nature and magnitude of \u00a0the effects of the three variables on mortgage approval times. What are \u00a0the key drivers of this process?<\/li>\n
    2. Determine the graphical display tool (e.g., Interaction Effects \u00a0Chart, Scatter Chart, et cetera) that you would use to present the \u00a0results of the DOE that you conducted in Question 1. Provide a rationale \u00a0for your response.<\/li>\n
    3. Assess the data sampling method. Our sample contained only five \u00a0mortgages per combination. Under what circumstances would it have been \u00a0appropriate to select a larger sample? Is a sample of five mortgages \u00a0adequate to access the relative magnitudes of the effects of the \u00a0variables? What sample size would you recommend? What could you learn \u00a0from a larger sample size? (Hint: Look back at chapter 2, 3, 5, and 6 \u00a0for discussion of sampling.)<\/li>\n
    4. Provide other variable responses that might be of interest to \u00a0measure and study. (Hint: If you were getting a mortgage or a loan, what \u00a0are the two most important measures of the process you would have to go \u00a0through?)<\/li>\n
    5. Propose one overall recommendation to the financial services \u00a0company, based on the DOE, that could help reduce mortgage approval \u00a0times.<\/li>\n<\/ol>\n

      \u00a0<\/p>\n

      Second, create a PPT presentation to communicate the data analysis \u00a0you completed. Your presentation must follow these formatting \u00a0requirements:<\/p>\n

        \n
      • A PPT presentation with at least 10 slides that include the answers to questions 1 through 5.<\/li>\n
      • A reference slide which follows APA format. Check with your professor for any additional instructions.<\/li>\n
      • Formatting of the slides should be consistent and easy to read.<\/li>\n
      • Cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.<\/li>\n
      • Note: The cover slides and the reference slides are not included in the required assignment slides length.<\/li>\n<\/ul>\n

        The specific course learning outcome associated with this assignment is:<\/p>\n

          \n
        • Develop recommendations to improve business processes, using statistical tools and analysis.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

          \u00a0A major financial services company wishes to better understand its \u00a0mortgage approval process. In particular, the company is interested in \u00a0learning about the effects of credit history (good versus fair), the \u00a0size of the mortgage (<$500,000 versus >$500,000), and the region \u00a0of the United States (western versus eastern) on the amount of time it \u00a0takes […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-32559","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/32559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=32559"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/32559\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=32559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=32559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=32559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}