Use the confidence interval technique for the process
Select one (1) project from your working or educational environment in which you would use the confidence interval technique for the process. Next, speculate on one to two (1-2) challenges of utilizing such a technique in the process and suggest your strategy to mitigate the challenges in question.
One project where the confidence interval would come into play is in predicting the amount of walk-in jobs that would come in each day at Staples print and marketing department. We need not only to guess how many walk-in jobs will come in on a certain day, but also be able to guess how many will come in at a certain period on any given day. We need to know how many print and marketing associates are to be staffed, or even if production is going to be very slow, how many print and marketing associates we can allow to leave early that day. The confidence interval can help us determine how close to the prediction our actual estimate was.
- Manager may misinterpret job productions for the day and send some associates home and two hours later the print and marketing department is severely busy and is now considered understaffed.
- Machine failure may occur and walk-in jobs may severely increase because the jobs can’t get completed on time and causes the confidence interval to be inaccurate for that day.
- Managers shouldn’t send print and marketing associates home too early until after the stores peak time, no matter if the department production is slow for that day or not.