Forecasting

NO COPY
ATTACHED FILE(S)
Be sure to completely answer all the questions for each bullet point. Separate each section in your paper with a clear heading that allows you to know which bullet you are addressing in that section of your paper. Support your ideas with three (3) sources in your essay. Make sure to reference the citations using the APA writing style for the essay. The cover page and reference page do not count towards the word count.
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.