Mouse Factory Design of Experiments Statistics Project

Mouse Factory Design of Experiments - Statistics Project Example These will act as a basis for future improvements, modifications and prediction. The graph above shows the graphical distribution of the 381 observation in the experiment. As it can be seen from the chart the percentage shrinkage lies between 53.5 and 55.1. Therefore the mean shrinkage lies at about 54 percent. The mean percentage shrinkage for the initial settings is 54.35. The mode is 54.46 while the median is 54.37. These measures of central tendency are not significantly different suggesting that the data is normally distributed. This rhymes well with the graphical representation in the above figure. The variability of percentage shrinkage can be located by use of range, standard deviation and variance. The range which measures the difference between the biggest and the smallest observation is 1.88. The variance and the standard deviation of these observations are 0.16 and 0.40 respectively. The smaller the variability of the shrinkage the more the data is clustered around the mean and the more it is predictable. Considering the initial variable settings which represent the main input the mean shrinkage should lay in the following confidence interval; By taking a consideration of 95% confidence interval, sample size of 381, a sample mean of 54.35 and a standard deviation of 1.88, the confidence interval mean of the future shrinkage should lie between 54.16 and

Report about an Accounting Information Systems Disaster Essay

Report about an Accounting Information Systems Disaster - Essay Example Issues include: â€Å"Cost and errors associated with manual creation and reconciliation of documentation. Lack of transparency in inventory and cash positions, when goods are in the supply chain. Disputes arising from inaccurate or missing data. Fragmented point solutions that do not address the complete end-to-end processes of the trade cycle† (Ramaswamy et al. n.d., p. 38). All the areas of business operations need to be considered, and a meeting of the team members needs to be arranged to inform them about the changeover. The changeover is made in such a way that it does not interrupt the functioning of the organization, and that which doesn’t increase time and money. System integration helps in attaining the goals of the organization by raising transaction process effectiveness, and in the excellence of the choice made. â€Å"Integrated Accounting Systems give you the ability to seamlessly transfer data between your different systems and from your business account ing system† (Accounting Systems Integration 2001). It involves the integration of various areas of the business, with the accounting information system. The areas include finance, management, and marketing. The financial management and the marketing personnels need to be very directive in their decisions, and they should be informed about the importance and functioning of the new system, as they are all involved in the new accounting information system. End-User Involvement: The ideas and suggestions of the managers, accountants, auditors, and the operations personnel should be considered in implementing the new accounting information system. â€Å"No single quality of management practice is more highly correlated with success than employee participation. The question then becomes how to structure this participation to best ensure its success for the employee, the project and the organization† (Vaughan 1876, p. 2). Upgrading of the new system results in a similar proces s, and the end users carefully evaluate the changes, promote in an effective manner, and get trained. Appropriate training should be given to the users who lack technical practices by enabling them to avail the services of the software technicians, to perform the accounting system in a more successful way. More concentration should be given to the accounting area. As end users, the accountants must be given a clear idea of their requirements to the professionals, who outline the system. The main reason for design fault and that which makes system disaster is the lack of end user involvement. Consideration of Off-the-Shelf or Tailor-Made Packages: Tailor made package is identified as a 'bespoke' method. â€Å"These packages are normally produced by a specialist computer software firm who has experience in producing accounting packages. Technically, these packages are available for any firm, but given the expense of a bespoke system and the general low cost of a 'off the shelf' syste m (one that can be used by any firm), most firms will simply purchase a general package† (Computers in Accounting n.d.). An accounting information system is a method of collection, storage and processing of accounting and financial data is utilized by decision makers. It is normally a computer-based method for