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Constructing a control chart using excel

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The funds-transfer department of a bank is concerned with turnaround time for investigations of funds-transfer payments. A payment may involve the bank as a remitter of funds, a beneficiary of funds, or an intermediary in the payment. An investigation is initiated by a payment inquiry or a query by a party involved in the payment or any department affected by the flow of funds. When a query is received, an investigator reconstructs the transaction trail of the payment and verifies that the information is correct and that the proper payment is transmitted. The investigator then reports the results of the investigation, and the transaction is considered closed. It is important that investigations be closed rapidly, preferably within the same day. The number of new investigations and the number of proportion closed on the same day that the inquiry was made are stored in FundTran.
a. Construct a control chart for these data.
b. Is the process in a state of statistical control? Explain
c. Based on the results of (a) and (b), what should management do next to improve the process?

A branch manager of a brokerage company is concerned with the number of undesirable trades made by her sales staff. A trade is considered undesirable if there is an error on the trade ticket. Trades with errors are canceled and resubmitted. The cost of correcting errors is billed to the brokerage company. The branch manager wants to know whether the proportion of undesirable trades is in a state of statistical control so she can plan the next step in a quality improvement process. Data were collected for a 30day period and stored in Trade.
a. Construct a control chart for these data.
b. Is the process in control? Explain.
c. Based on the results of (a) and (b), what should the manager do next to improve the process?

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Solution Summary

The solution gives detailed steps on constructing control charts for given data using Excel and performs a short analysis. Two questions are answered in two excel files.

See Also This Related BrainMass Solution

Constructing a p chart for given data using excel

Researchers at Miami University in Oxford, Ohio, investigated the use of charts to monitor the market share of a product and to document the effectiveness of marketing promotions, Market share is defined as the company's proportion of the total number of products sold in a category. If a p chart based on a company's market share indicates an in process, then the company's share in the market is deemed to be stable and consistent over time. In the example given in the article, the RudyBird Disk Company collected daily daily sales data from a nationwide retail audit service. The first 30 days of data in the accompanying table (see the attachment) indicate the total number of cases of computer disks sold and the number of RudyBird disks sold. The final 7 days of data were taken after RudyBird launched a major in-store promotion. A control chart was used to see if the in-store promotion would result in special cause variation in the marketplace.

a. Construct a p chart, using data from the first 30 days (prior to the promotion) to monitor the market share for RudyBird disks.
b. Is the market share for RudyBird in control before the start of the in-store promotion?
c. On your control chart, extend the control limits generated in (b) and plot the proportions for days 31 through 37. What effect, if any, did the in-store promotion have on RudyBird's market share?

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