Total Quality Management (TQM) is founded on the premise that an organisation must continuously strive to improve the quality of its product. Using examples, discuss the different categories of the cost of quality within a typical manufacturing entity.
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- XYZ work in a small electric business in Basrah city. He had a sunshine controller device. He had to decide how to market his idea, and in the short term, his options could be summarised as selling the device locally, selling nationally through a website, entering a partnership with an existing company or selling the patent. His returns depended on demand, which he described as high, medium, or low. Using this simple model, he developed the matrix of potential annual gains shown below: Options Demand High Medium Low Market locally 60 90 45 Use website 23 90 78 Partnership 12 25 89 Sell patent 30 30 30 Identify the decision taken under the following approaches: (1) Equal probability (2) Regret (3) Hurwicz criterion. Note: The decision maker's degree of Pessimistic (a) is 0.3.Describe and explain what CVP analysis is. Provide examples of how managers may use this tool for sensitivity analysis.The following table shows quarterly sales (in thousand units) for a product over 4 years. The overall sales average for the entire 4 years is 166.125 (thousand units). Fill in the missing values assuming there is no trend. Round seasonal indexes to 4 decimal places. Report Averages accurate to at most 2 decimal places. Report Actual sales ('000) accurate to the nearest integer. Year Year Seasonal Year 1 Year 2 Average 4 Index Quarter 205 211 182 1.1768 1 Quarter 152 170 158 156 2 Quarter 182 190 198 193 3 Quarter 128 112 113 0.7178 4
- The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs 105.790.5+ (47.3714) x Billable Hours (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers) b. Interpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm? Interpret the fixed term, bo, if appropriate. Choose the correct answer below. OA. The value of bo is the predicted overhead costs for 0 billable hours OB. For each increase of 1 unit in billable hours, the predicted overhead costs are estimated to increase by bo C. It is not appropriate to interpret bo. because its value is the predicted…In the table below ratings data on x = the quality of the speed of execution and y = overall satisfaction with electronic trades provided the estimated regression equation ŷ = 0.3402 +0.8922x. Brokerage Speed Satisfaction Scottrade, Inc. 3.5 3.4 Charles Schwab 3.0 3.1 Fidelity Brokerage Services 3.3 3.2 TD Ameritrade 3.6 3.5 E*Trade Financial 3.4 3.7 Vanguard Brokerage Services 3.8 3.6 USAA Brokerage Services 3.3 2.9 Thinkorswim 3.1 3.6 Wells Fargo Investments 2.4 2.4 Interactive Brokers 2.6 2.2 Zecco.com 2.7 3.1 At the 0.05 level of significance, test whether speed of execution and overall satisfaction are related. Show the ANOVA table. What is your conclusion? Source Sum of Squares Degrees Mean Square F (to 2 decimals) of Variation (to 4 decimals) of Freedom (to 4 decimals) Regression Error Total P-value is - Select your answer - We Select your answer - V reject Ho : B1 = 0, we conclude that speed of execution and overall satisfaction Select your answer - V related.1.) Describe the process for building the customer scoring model. What would be the inputs? What kinds of data and business processes could potentially be brought into it to create a better scoring model? Course title: Business Analytics
- Star, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output: Regression Statistics Multiple R R Square Observations 0.9798 0.9560 30 Coefficients Standard Error 60,902 0.9237 Intercept Production (x) How much of the variation in cost is explained by production? 174,302 11.06 T Stat 2.86 11.97 P-Value 0.021 0.0001. Create a risk profile for a particular area of interest. 2. Choose a commodity for which you want to create a risk profile. 3. List five possible risks that could have an impact on the commodity's production capacity. 4. Use a Venn diagram to perform a qualitative risk assessment, indicating the likelihood percentage, category, frequency, severity, and RHC score for each risk identified. 5. Create a risk heat map or chart using the risks from the Venn diagram. 6. Summarize the prioritized areas briefly and offer some recommendations for risk reduction.The following table shows quarterly sales (in thousand units) for a product over 4 years. The overall sales average for the entire 4 years is 126.0625 (thousand units).Fill in the missing values assuming there is no trend.Round seasonal indexes to 4 decimal places.Report Averages accurate to at most 2 decimal places.Report Actual sales ('000) accurate to the nearest integer. Year 1 Year 2 Year 3 Year 4 Average Seasonal Index Quarter 1 92 93 95 106 Quarter 2 105 106 105 101 Quarter 3 197 187 196 1.5211 Quarter 4 106 116 121 0.8865 PART BSuppose actual quarterly sales (in thousands) for Year 5 are 93, 123, 206, and 126 respectively. Assuming there is no trend, forecast sales for the four quarters of Year 5.Use seasonal indexes (rounded to 4 decimal places) from Part A.Report forecast answers as integers accurate to the nearest thousand.Quarter 1 forecast = thousandQuarter 2 forecast = thousandQuarter 3 forecast = thousandQuarter 4 forecast =…
- E FA/IBM536/FEB2022 O Final Assessment_Test_Declaratic x • Download file | iLovePDF ocs.google.com/forms/d/e/1FAIPQLSCUK7M_XQAbSDhnv-0qsBCBvKgmkwb0Q1|13Vx4wkihZP6TOA/formResponse IVONE of he above In China is an important need and is a goal. * Group affiliation; professional achievement Professional achievement; individual success Group affiliation; harmony Individual success; harmony None of the above U.S. managers believe that to motivate workers, it is necessary to satisfy the at..docx 6 Final Assessment.docx a Final Assessment.pdf a Final Assessmentpdf O Final Assessment.docxThe student develops at least one thorough and detailed recommendation for each ratio that is appropriate for the Barry Computer Company to improve financial performance over time (over the next 3–5 years to meet industry standards). Student provides a thorough and detailed assessment of limitations of the exclusive use of ratio analysis for evaluating financial performance, including any qualitative factors that could also complement the ratio analysis and play an important role in improving financial performance.P8-what measures or actions could be used to improve the consistent quality and speed of preparing fast food for customers