Forecasting

Do the experiment below. Write a 1600- word essay discussing your predictions and outcomes.

· Using 10 marbles (3 red, 3 green, 3 blue, & 1 orange)

· If you do not have these specific marbles, you can use colored paper and make round balls or use regular paper, make the balls and color them

· Please make a hole in the yard or use a cup as target for the marble or ball to land into

· Measure and mark the following distances: 1 foot, 2 feet, 3 feet and 4 feet from the target

· Before you begin the experiment, write down (predict) the following:

· The probability of all marbles/balls going into the target from 1’, 2’ and 3’

· The probability of a particular color going into the target from 1’,2’ and 3’

· Do the actual exercise and write down the results and compare with your assumptions

· Use your knowledge from earlier chapters to predict what will happen in the future if you did the same exercise from a distance of 4’ from the target?

· Do the exercise from distance of 4’. Note how many went in and how many did not. Repeat this distance (4’) exercise 3 times. Assess if the process is in control or not? Come up with ideas on how the process can be improved or optimized.

· How did quantitative analysis help to improve or optimize the process?

· How can you apply the concepts of quantitative analysis to your workplace? Provide at least 2 examples.

 Length: 1600 words; answers must thoroughly address the questions in a clear, concise manner.

 Structure: Include a title page and reference page in APA style. These do not count towards the minimum word count for this assignment.

 References: Use the appropriate APA style in-text citations and references for all resources utilized to answer the questions. Include three (3) scholarly sources to support your claims.