Assignment 3
Analyze
1. Draw scatter plots (optionally, you can also compute correlation coefficients) of each numeric explanatory variable (Xs) against the Error (y) variable. Write a short paragraph interpreting what the graphs/correlations tell you about the relationships.
2. For categorical explanatory variables (gender, training), create a Pivot Table and/or charts to compare the Errors by category.
3. Develop a regression equation to predict the Errors as a function of the explanatory variables. Interpret the coefficients.
4. Report the final predictive equation and its key statistics (Standard Error, R-Square).
Improve
5. What are your final recommendations regarding reduction of Errors or Cost/Claim?
(A new process flow diagram would normally be a part of this, but we will skip it for this assignment)
(Hypothesis Testing would also be done here after the improvements were made, to prove that y did in fact improve as a result of your project)
Control
6. What steps can you take to ensure that the new process takes hold and employees do not slide back to old ways?