MAT 510 � Homework Assignment 6 Strayer University

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MAT 510–Homework AssignmentMAT 510–Homework AssignmentStrayer UniversityHomework Assignment 6Due in Week 7 and worth 30 pointsThe data in the table below is from a study conducted by an insurance company to determine the effect ofchanging the process bywhich insurance claims are approved. The goal was to improve policyholdersatisfaction by speeding up the process and eliminating some non-value-added approval steps in theprocess. The response measured was the average time required to approve and mail all claims initiatedin a week. The new procedure was tested for 12 weeks, and the results were compared to the processperformance for the 12 weeks prior to instituting the change.Table: Insurance Claim Approval Times (days)OldProcessNewProcessWeekElapsedTimeWeekElapsedTime131.713242271425.8333.815314301623.5532.51728.5633.51825.6738.21928.7837.52027.49292128.51031.32225.21138.62324.51239.32423.5Use thedate in table above and answer the following questions in the space provided below:1.What was the average effect of the process change? Did the process average increase ordecrease and by how much?

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