Case Study: Mortgage Approval Time Study

Read the following case study:

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 good versus fair credit history, the size of the mortgage (less than $500,000 versus greater than $500,000), and the region of the United States (western versus eastern) on the 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 chosen for each of the eight combinations of the three variables. The data are shown in the table.

Mortgage Approval Time Study
Credit HistoryMortgage SizeRegionApproval Times (days)Approval Times (days)Approval Times (days)Approval Times (days)Approval Times (days)
Good<$500,000Western5950646247
Fair<$500,000Western8158696574
Good>$500,000Western3852586065
Fair>$500,000Western146159133143129
Good<$500,000Eastern2826384121
Fair<$500,000Eastern4253405064
Good>$500,000Eastern4931494238
Fair>$500,000Eastern106115126118138

First, conduct an analysis using the following steps:

  1. Use the data shown in the table to conduct a design of experiment (DOE) in Microsoft Excel to determine the nature and magnitude of the effects of the three variables on mortgage approval times. Identify the key drivers of this process.
  2. Determine the graphical display tool (Interaction Effects Chart, Scatter Chart, et cetera) that you would use to present the results of the DOE you conducted in Question 1. Provide a rationale for your response.
  3. Assess the data sampling method:
    1. Determine if the sample size is sufficient.
      1. Identify circumstances under which would it have been appropriate to select a larger sample. Determine whether a sample of five mortgages is adequate to access the relative magnitudes of the effects of the variables.
      1. Recommend a sample size for future study and discuss what analysis can be made with a larger sample size. (Hint: Look back at Chapters 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.
Research Paper 101
Calculate your paper price
Pages (550 words)
Approximate price: -

Reasons to trust Research Paper 101

On Time Delivery

We pride ourselves in meeting the deadlines of our customers. We take your order, assign a writer but allow some more time for ourselves to edit the paper before delivering to you. You are guaranteed a flawless paper on a timely manner...

24x7 Customer Live Support

Our team at Research Paper 101 is committed to handling your paper according to the specfications and are available 24*7 for communication. Whenever you need a quick help, you can talk to our writers via the system messaging or contact support via live chat and we will deliver your message instantly.

Experienced Subject Experts

Online Experts from Research Paper 101 are qualified both academically and in their experiences. Many are Masters and Phd holders and therefore, are qualified to handle complex assignments that require critical thinking and analyses...

Customer Satisfaction

We offer dissertation papers as per students’ wishes. We also help craft out the best topics and design concept papers. By ordering with us, you are guaranteed of defending and making through those hard faced professors in the defense panel!

100% Plagiarism Free

We at Research Paper 101 take plagiarism as a serious offence. From the start, we train our writers to write all their papers from scratch. We also check if the papers have been cited appropriately. Our website also has a tool designed to check for plagiarism that has been made erroniusly. In essense, the paper you get will be 100% legit...

Affordable Prices

We understand that being a student is very challenging, some students balance between work and studies in order to survive. We therefore offer pocket friendly rates that are very competitive in the market.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

error: