Quality concepts course final
Quality Concepts
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. 14.51 . 13.88 17.64 14.13 14.49 13.41 14.00 12.41 13.88 12.90 17.68 21.29 19.91 15.53 16.27 14.13 16.56 14.14 16.15 9.42 18.04 11.87 13.09 14.16 15.69 17.05 17.05 14.47 13.71 14.01 13.31 17.77 15.62 14.26 13.01 14.13 5.75 0
13.83 15.87 11.66 15.24 14.23 18.80 18.38 14.81 14.91 15.50 14.16 17.06 22.43 16.58 15.01 14.97 13.12 15.86 14.13 7.11 6.25 13.62 17.26 12.99 14.40 15.18 EMPORIAMORTGAGE COMPANY The Emporia Mortgage Company (EMC) is a medium-sized mortgage lender that has continued
to do well, despite the “meltdown” in the mortgage lending industry. Prior to the economic
downturn, EMC was a principle supplier of lending services to Southeastern Desert Homes, a
builder of residential communities in several major cities throughout the Southeastern United
States. Because it carefully selected clients who were able to make substantial down payments
for homes, and it avoided sub-prime or variable-rate mortgage lending, EMC has been shielded
from the effects of “toxic mortgages” on its balance sheet. In fact, EMC expanded its mortgage
refinancing and home remodeling credit operations to two shifts, as other lending company’s
ability to take on new clients contracted. Soon, they were working six days per week and hiring
additional workers.
Not long after EMC began its second shift operations, it received some complaints about long
mortgage processing times. This information alarmed Peter Purnell, CEO of Emporia Mortgage.
He had retired early from a bank in a cold Midwestern city and decided that he wanted to
relocate to the desert Southwest. He had hiked in the mountains and played golf during the first
six months, but then realized that he needed more of a challenge than the recreational activities
could provide. That was when he started Emporia Mortgage, using his experience in the
mortgage and home loan business. EMC, under Peter’s leadership, soon built a reputation as a
high-quality, if somewhat conservative, lender. Among other things, the company was known for
the capability of its well-trained and dedicated employees, who could generally complete the
loan process in around 2-3 work days. Thus, Peter never felt the need to consider formal process
control approaches. Now many customers were complaining that it took a week or two to close
on a loan, even with an excellent credit score. In view of the recent complaints, Peter suspected
that the rapid expansion to a full two-shift operation, the pressures to produce higher volumes,
and the push to meet requests from high-profit customers was causing a breakdown in their
quality.
On the recommendation of the V.P. for loan processing, Peter hired a quality consultant to train
the process managers and certain loan workers in statistical process control methods. As a trial
project, one process manager wanted to evaluate the capability of a critical operation that she suspects might be a major source of the delays. The nominal specification for this processing
operation is 15.5 hours with a tolerance of 5 hours. The consultant suggested inspecting five
consecutive processing times, per loan worker, in the middle of each shift over a 30-day period
and recording the completion times for loans that they had finished processing. The table in the
worksheet EMC Case in the workbook EMC data.xls (found on the class website), shows 100
days’ data collected for all shifts.
ASSIGNMENT
Select a random sample of 30 from the dataset (EMC Case worksheet in the Excel workbook
EMCData.xls) and describe the process for selecting your random sample. Interpret the data,
establish a state of statistical control, and evaluate the capability of the process to meet
specifications. Consider the following questions: What do the initial control charts tell you?
Do any out-of-control conditions exist? If the process is not in control, what might be the
likely causes, based on the information that is available? What is the process capability? What
is the fraction of nonconforming? What do the process capability indexes tell the company? Is
EMC facing a serious problem that it needs to address? How might the company eliminate the
problems of slow loan processing?
IM602 1
PROJECT GUIDELINES
As a part of the assigned work for this course, you are required to complete a project based on
the material of this course. The final project will have two components: 1) written report and 2)
excel sheet. This document describes the guidelines to be followed by the students for their
course projects. The content of this document is the following:
1. Structure and content 1. STRUCTURE AND CONTENT
The project should be composed of the following sections:
1. Title page the title of the paper
the course name
the author’s name
the date of submission
2. Executive Summary : question posed in the report and summary of your findings
3. Analysis and Results : presenting the results, it is also your task to guide the reader through the results in a clear
and logical manner. Analyze your statistics and report your findings in the results section.
Every detail included in the table/ graph should be commented on. You need to show all
calculations, equations and results.
4. Conclusion should be included: summary of question posed, summary of findings, and
recommendations
2. FORMAT REQUIREMENTS
Please follow the general instructions as given below:
1. Paper Length: up to 8 pages (letter size paper) and must be typed and submitted using 2. Margins: 1 inch top, bottom, left and right margins between subsequent paragraphs, no indentation for beginning of a paragraph.
5. Tables and figures: All figures and tables should be numbered and labelled. Place all table and chart in detail. Place table numbers and titles directly above tables. Place figure
numbers and legends (captions) directly below figures. IM60 2
2 6. As the writer, you should always provide the reader with information (directions) for 7. Equations: equations should always be numbered. Use Microsoft Word Equation Editor 3. INSTRUCTIONS FOR SUBMISSION:
1. Submit word document and Excel sheet
2. When preparing the assignment use Microsoft Word,
3. This is an individual assignment.You may not collude with any other individual, or
plagiarize their work. Suspected plagiarism will be dealt with according to the Southeast
Missouri State University regulations.
Put all files (copy of your word document and excel sheet) named as Your LAST NAME_FIRST
NAME and use the dropbox for submitting the file.
4. PROJECT GRADING RUBRIC
(100 total points)
1. The structure (10 points)
Have the required steps been followed? Has every aspect of the project been thought
through and explained?
2. The project is well-written (10points)
Is the grammar correct? Is the analysis cogent, has the required format been followed?
3. Analysis and Results (50 points)
Are the analysis, results, formulas and conclusions correct and insightful? All equations,
graphs, and tables are presented.
4. Conclusion (15 points)
5. Excel sheet (15points)
Has the excel sheet been submitted and includes all the correct charts, tables, and calculations.2
Sample
1
3
4
5
1
1
7
8
1
9
93
19
12
15
39
9.
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2
11
91
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6
19.00
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51
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40
3
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13
53
12.
87
14
37
14.16
4
17
9.
42
14.
74
20
18
80
5
11.18
18.04
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96
1
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69
6
13.01
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55
13.09
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26
7
14.02
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50
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24
8
15.74
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21
82
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9
20.40
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29
32
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10
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20.
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17
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19
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59
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26
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95
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29
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70
18.58
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33 17.88 19.91 15.53
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34 19.17
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35 17.41 21.96 18.42 20.79 5.62
36
37 19.76 16.76 11.94 12.39 13.86
38
39 13.31 14.49 13.41 14.00 20.93
40 14.02 14.51
15.50
15.24
41
17.91
17.37
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16.01
42
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43 19.00 12.87 14.74 14.96
15.55
44
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45
10.40
18.80
18.26
46
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22.43
23.59
19.58
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47 14.04 16.91 14.26 13.54 14.10
48
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1
6.25
49 19.26 6.04 19.10 13.71 14.51
50 15.93 10.11 13.88
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51
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16.36
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5.64
10.24
52
22.59
14.82
18.70
53
16.58
12.99
11.60
17.46
54
22.87
22.58
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55
15.17
15.
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1
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56 18.26
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59
13.35
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61
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11.13
62 13.01
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18.
72
10.77
63
16.32
14.97
16.46
17.53
64
15.60
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14.23
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65
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19.21
1
7.11
11.54
12.52
66
16.88
19.36
15.88
15.87
67
14.17
12.76
14.
84
68 16.41
21.41
18.77
20.39
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13.33
13.25
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21.42
70
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16.
89
6.84
71
11.66
16.16
19.50
18.01
7.90
72
15.900
13.37
73
17.120
9.72
22.03
16.30
74
10.930
18.34
15.46
20.
92
13.19
75
12.760
12.17
16.05
14.59
15.76
76
13.770
14.81
16.00
15.64
12.74
77
15.490
18.38
23.32
9.63
78
20.150
22.51
17.44
30.82
79
16.350
12.59
20.67
14.91
80
12.160
20.06
20.41
19.46
81
13.630
17.06
16.03
15.99
15.92
82
12.650
12.24
16.77
18.29
83
17.430
24.25
14.63
23.95
84
21.040
17.69
85
17.390
22.69
14.60
13.78
86
20.650
14.34
17.55
20.76
13.43
87
17.180
17.21
7.54
7.61
88
23.340
14.56
20.60
11.38
89
15.330
13.84
11.75
15.21
14.83
90
25.620
23.43
19.96
32.61
16.38
91
18.920
16.50
13.95
19.68
92
17.010
14.12
12.33
8.59
93
14.020
24.02
11.73
12.49
94
13.300
18.62
19.14
14.33
10.31
95
15.
100
10.45
15.59
11.90
96
13.570
16.83
14.80
97
16.940
23.06
13.03
15.14
98
13.760
25.00
19.08
20.62
8.14
99
12.070
15.82
16.61
19.43
100 16.350
12.71
14.38
2. Format requirement
3. Instructions for submission
4. Grading rubric
The title page is the first page of report. It is not numbered. It contains details of:
One-page summary of the report: tell your reader what the paper is about – i.e. what is the
Provide the procedure used in the study including all calculations and formulas. As well as
The conclusion is often thought of as the easiest part of the paper. Components which
WORD format ONLY.
3. Title: On the first page, centered in bold 12 pt. Times New Roman.
4. Normal (body) text: 12 pt. Times New Roman, with single spacing, one blank line
graphs and tables in your document and include text that describes the content of each
understanding and interpreting the data represented in a figure or graph.
to insert all equations into your document