You are provided two problem settings below, along with the data that was collected to analyze each of the problem settings.
Im studying for my Management class and dont understand how to answer this. Can you help me study?
For each of the settings and accompanying data sets, evaluate the data that was collected relative to the problem setting. Evaluate whether the data collected was appropriate and representative of the information that is required to analyze the problem presented in the problem setting.
Setting 1:
You are going to sell your house. You are determining what the price should be. To help you, you have collected information of houses that have sold in your neighborhood during the past eighteen months. You checked houses within a four mile radius and here is the information you collected. You are going to base your determination of the price of your house based on the following information. Evaluate and discuss whether the data collected was appropriate and representative of the information that is needed to analyze the problem presented in the problem setting.
| House | House Age | Square Feet | Selling Price |
| 1 | 33 | 1812 | $190,000 |
| 2 | 32 | 1915 | $205,200 |
| 3 | 32 | 1840 | $194,000 |
| 4 | 32 | 1832 | $192,000 |
| 5 | 33 | 1851 | $202,000 |
| 6 | 34 | 2032 | $208,600 |
| 7 | 31 | 1755 | $188,200 |
| 8 | 30 | 1805 | $205,000 |
| 9 | 28 | 1900 | $215,000 |
| 10 | 29 | 1485 | $192,000 |
| 11 | 31 | 1525 | $195,000 |
| 12 | 32 | 1515 | $192,200 |
| 13 | 33 | 1685 | $201,300 |
| 14 | 34 | 1600 | $205,400 |
| 15 | 35 | 1650 | $218,000 |
Setting 2:
You are going to set your budget for your utility (gas/water/sewer and electricity) expenses for the next year. You have recorded your utility expenses for the past year. That information is provided below. Evaluate and discuss whether the data collected was appropriate and representative of the information that is required to analyze the problem presented in the problem setting.
| Utilities | Utilities | ||
| Period | Gas, Water, Sewer | Electricity | |
| Mar, 2011 | 125.47 | 65.68 | |
| Apr, 2011 | 70.89 | 61.5 | |
| May, 2011 | 72.58 | 59.93 | |
| Jun, 2011 | 80.91 | 72.17 | |
| Jul, 2011 | 66.08 | 101.35 | |
| Aug, 2011 | 84.58 | 118.04 | |
| Sep, 2011 | 80.39 | 80.07 | |
| Oct, 2011 | 88.12 | 60.76 | |
| Nov, 2011 | 86.5 | 58.7 | |
| Dec, 2011 | 130.06 | 70.22 | |
| Jan, 2012 | 131.34 | 65.5 | |
| Feb, 2012 | 121.2 | 67.71 | |
| Mar, 2012 | 98.96 | 67.99 |
- Helpful links for this assignment
- Putting DMAIC of Six Sigma in practice – Sanders, Matthew; Prior, Alex International Journal of Business and Social Science2. 5 (Mar 2011).
http://ijbssnet.com/journals/Vol._2_No._5_%5BSpecial_Issue_-_March_2011%5D/14.pdf - Quality function deployment – Yairi, Mohamed; Youssef, Mohamed A. The International Journal of Quality & Reliability Management12. 6 (1995): 9.
http://ezproxy.bellevue.edu:80/login?auth=bb&url=https://search.proquest.com/docview/578101382/DF469A08815F492DPQ/1?accountid=28125 - Video; The Lean Journey: This Lean Garage/How to Implement 5S (29 minutes) – Martichenko, Robert. Note: this video is the first of multiple videos on this subject.
http://www.bing.com/videos/search?q=youtube+the+lean+garage&FORM=VIRE2#view =detail&mid=AAE015678C4D275CF8E5AAE015678C4D275CF8E5
