Homework- Table: Insurance Claim Approval Times (Days)
The facts in the consultation are from a con-over conducted by an protection audience to mention the issue of changing the order by which protection demands are widespread. The appearance was to rectify policyholder content by expediting the order and eliminating some adventitious approval steps in the order. The exculpation estimated was the mediocre occasion required to support and mail all demands rooted in a week. The new progress was tested for 12 weeks, and the results were compared to the order deed for the 12 weeks anterior to instituting the vary.
Use the facts in the consultation and yield the answers to the forthcoming questions in a Word document:
What was the mediocre issue of the order vary? Did the order mediocre extension or reduce, and by how considerable?
Analyze the facts using the retirement mould y= b0 + b1 x, where y = occasion to support and mail a demand (weekly mediocre), x = 0 for the old order, and x = 1 for the new order.
How does this mould estimate the issue of the order vary?
How considerable did the order deed vary on the mediocre? (Hint: Compare the values of b1 and the mediocre of new order deed minus the mediocre of the deed of the old order.)