This frequency distribution of the FY 2012 shows how the most frequent amount assigned for collection was $4.6 million.
The billing and collection department of a major hospital has provided 4 years worth of data. This data shows the amount of medical debt each collection agent has assigned to him or her throughout the different months of the years in millions of dollars. Data covering the years 2008 through 2011 are provided. The data for the year 2012 is forecasted using the Consumer Price Index (CPI) for medical care services for the selected years. The CPI for medical care services in 2008 is 2.6 (Bureau of Labor and Statistics, n.d.) and this is the number used to forecast the amounts assigned to collection agents in 2012, where the CPI is 3.7. According to the forecast, 2012 will have many of the same peaks, valleys, and plateaus seen in 2008. The main difference between the two years is the plateau forecasted for the months of May, June and July of 2012 rise much higher than the plateau seen in the same months in 2008.
Transcript of "Team b wk 6"
Team BQRB/501Prof. Scott Hannum
9876 2008 20095 2010 20114 20123 2013 2014210 January February March April May June July August September October November December Monthly Seasonal Indices of Total Net for California Business Bureau Collector Statistics
Millions of Dollars 6 8 0 1 2 3 4 5 7 9 Ja Table 1 nu ar Fe y br ua ry M ar ch Ap r il M ay Ju ne Ju ly Au guSe st pt em be r Oc toNo ber Ammounts Assigned ve m be De r ce m be r 2012 2011 2010 2009 2008
Data analysis is a part of the businessintelligenceConfirmation of a hypothesisForecasting
Helps properly allocate resources (employees,time, money)Helps identify if any changes can be made andwhere they can be madeFacilitates incremental changes