A major financial services company wishes to better understand its mortgage approval process. In particular, the company is interested in learning about the effects of credit history (good versus fair), the size of the mortgage (<$500,000 versus >$500,000), and the region of the United States (western versus eastern) on the amount of time it takes to get a mortgage approved. The database of mortgages approved in the last year is accessed, and a random sample of five approved mortgages is selected for each of the eight combinations of the three variables. The data are shown in the table (attached to these instructions)
1. Use the data shown in the table to conduct a design of experiment (DOE) in Microsoft Excel in order determine the nature and magnitude of the effects of the three variables on mortgage approval times. What are the key drivers of this process?
2. Determine the graphical display tool (e.g., Interaction Effects Chart, Scatter Chart, et cetera) that you would use to present the results of the DOE that you conducted in Question 1. Provide a rationale for your response.
3. Assess the data sampling method. Our sample contained only five mortgages per combination. Under what circumstances would it have been appropriate to select a larger sample? Is a sample of five mortgages adequate to access the relative magnitudes of the effects of the variables? What sample size would you recommend? What could you learn from a larger sample size? (Hint: Look back at chapter 2, 3, 5, and 6 for discussion of sampling.)
4.
Provide other variable responses that might be of interest to measure and study. (Hint: If you were getting a mortgage or a loan, what are the two most important measures of the process you would have to go through?)
5. Propose one overall recommendation to the financial services company, based on the DOE, that could help reduce mortgage approval times.
Create a PPT presentation to communicate the data analysis you completed. Your presentation must follow these formatting requirements:
A presentation with at least 10 slides that include the answers to questions 1 through 5.
A reference slide which follows APA format.
Formatting of the slides should be consistent and easy to read.
cover slides and the reference slides are not included in the required assignment slides length.
make sure powerpoint looks nice with a theme and is easy to read
use at least 3 references and put in APA format within your presentation
