? The beverage and snacks company Fizzy & Crispy is one of the largest juices, drinks, and

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The beverage and snacks company "Fizzy & Crispy is one of the largest juices, drinks, and snacks producers in Norway. Their products are famous over all Europe. They are mainly known for their soft drinks and salty chips. Their oldest factory is now due for renewal because of quality control issues. A team has been hired to help in the overhaul by assessing the conditions in the factory, and to work also as a consultant for their operations of that same factory. The company faced a serious challenge and they asked you, the Industrial Engineers team, to help them out with it. Lately, the farm from which Fizzy & Crispy buy its potatoes has been struggling with sales for two years now. The reason is that the overall monthly production has been lower than expected. They know that the production process is designed to yield an average of 800 tons per month, and this number of sales is enough to keep them afloat. The company's statistical experts claim that there is not a specific reason contributing to the decline in production in the last two years, and they are confident that this is due to pure variation. If the company does not act now, it will be forced to shut down the operations of the farm a year from now. However, if they can produce over 600 tons monthly in at least four of the 12 months preceding the closure deadline, they will stay in operation. Otherwise, they will have to take a very expensive loan now to improve the production, which the company is trying to avoid by any means possible. You, being the newly appointed team at the company, wants to challenge the opinion given by the experts and you have a plan that could help the top management decide on what they need to do. You asked your supervisor to provide you with the historical monthly production figures available in the company's archive for the last 10 years (see the Excel file shared). Use the appropriate statistical and probability tools to assess the experts claim first, then to explain and perform your analytical plan. Based on the obtained results, clearly indicate whether the company should take the loan or not. The beverage and snacks company "Fizzy & Crispy is one of the largest juices, drinks, and snacks producers in Norway. Their products are famous over all Europe. They are mainly known for their soft drinks and salty chips. Their oldest factory is now due for renewal because of quality control issues. A team has been hired to help in the overhaul by assessing the conditions in the factory, and to work also as a consultant for their operations of that same factory. The company faced a serious challenge and they asked you, the Industrial Engineers team, to help them out with it. Lately, the farm from which Fizzy & Crispy buy its potatoes has been struggling with sales for two years now. The reason is that the overall monthly production has been lower than expected. They know that the production process is designed to yield an average of 800 tons per month, and this number of sales is enough to keep them afloat. The company's statistical experts claim that there is not a specific reason contributing to the decline in production in the last two years, and they are confident that this is due to pure variation. If the company does not act now, it will be forced to shut down the operations of the farm a year from now. However, if they can produce over 600 tons monthly in at least four of the 12 months preceding the closure deadline, they will stay in operation. Otherwise, they will have to take a very expensive loan now to improve the production, which the company is trying to avoid by any means possible. You, being the newly appointed team at the company, wants to challenge the opinion given by the experts and you have a plan that could help the top management decide on what they need to do. You asked your supervisor to provide you with the historical monthly production figures available in the company's archive for the last 10 years (see the Excel file shared). Use the appropriate statistical and probability tools to assess the experts claim first, then to explain and perform your analytical plan. Based on the obtained results, clearly indicate whether the company should take the loan or not.

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