Business Statistics | MAT 510 – Business Statistics | Strayer University
To conduct a design-of-experiment (DOE), in Microsoft Excel, to examine the effect of three variables on mortgage approval time times, you must first enter all data into the spreadsheet.
Filling in each column will give you the information needed to calculate total loan amount, credit score, and FICO score (A–F). This will allow you to use Excel formulas, such as ANOVA or regression analysis, to see how each explanatory variable affects the other. Pareto Chart, a graphic method that plots outcomes versus time can also be used to pinpoint potential bottlenecks and key drivers.
With proper experimentation & data visualization techniques employed here will ultimately lead improved understanding factors primarily responsible driving down mortgage approval process from current levels future state perspective so as ensure maximum customer satisfaction whilst reducing costs/time spent completing application forms.