Question: Tri State Bank is investigating the processing time for loan applications
Tri-State Bank is investigating the processing time for loan applications. Samples were taken for 25 random days from 4 branches. These data can be found in the worksheet C16P5 in the OM5 Data Workbook. Construct control charts using the Excel template x-Bar & R-Chart. Verify the Excel calculations of the control limits by hand using the formulas in the chapter. Does the process appear to be in statistical control? Why or why not?
Answer to relevant QuestionsTwenty-five samples of loan applications at a bank, each of size 150, resulted in a total of 22 errors. Compute the control limits for a p-chart. Provide some examples of different types of waste in an organization with which you are familiar, such as an automobile repair shop or a fast-food restaurant. Research and write a short paper (two pages maximum) on applications of the 5S principles in service organizations, such as a hospital. If possible, provide some pictures that illustrate the results of using the 5S ...Search the Internet for manufacturing or service tours similar to the ones in this chapter. Classify their practices according to the four lean principles in a manner similar to the examples. Crashing in the Critical Path Method assumes that the cost of crashing an activity is linearly proportional to the amount of time the activity is crashed; that is, the rate of cost increase is constant (see Exhibit 18.12). ...
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