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On each of these, if you need to establish improvement targets, you can establish your own target improvement values.1. Students in a business class often struggle with answering questions posed to them. Students have passed the prerequisite classes with a satisfactory grade. In the past, the students have been answering the questions posed to them with a 70% accuracy rate. The standard deviation for the accuracy rate score is 5%.2. For the past six months, you have constantly been spending more money than your take home pay each month by \$400; this is approximately 10% of your take home pay. Consequently, you have been either paying bills late or making minimum credit card payments or a combination of both.Degree Title: Supply Chain & Logistics ManagementCourse: Decision Making In A Global EnvironmentUse the links and attachemtn to gain better insight of questionhttps://search-proquest-com.ezproxy.bellevue.edu/docview/274707433/972C013B9AB4073PQ/1?accountid=28125https://search-proquest-com.ezproxy.bellevue.edu/docview/195707214/EF4FF316730E4481PQ/1?accountid=28125https://search-proquest-com.ezproxy.bellevue.edu/docview/214763946/87E3726CFC704446PQ/1?accountid=28125
problemsolvingprocess_1.pdf
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An Approach to the Problem Solving
Process by Dr. Levy
• Problem solving is both a science and an
art
• Those who solve problems successfully
use a consistent process
• There are similarities in solving
quantitative problems to the process of
writing a paper
– How often do you just start writing a paper?
– What are the steps that you follow in writing a
paper?
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An Approach to the Problem Solving
Process by Dr. Levy
• First step:
– Quant Problem: define the problem or what we
need to find
– Paper: develop the thesis statement or paper
purpose
• Second step:
– Quant Problem: collect data and identify all of the
information available
• This includes the equation or formula you will use to
solve the problem
– Paper: research the subject
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An Approach to the Problem Solving
Process by Dr. Levy
• Third step:
– Quant Problem: identify the solution
approach, including looking at alternative
approaches, and identify the formulas
– Paper: develop the outline
• Fourth step:
– Quant Problem: solve the problem
– Paper: write the paper
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An Approach to the Problem Solving
Process by Dr. Levy
• Fifth step:
– Quant Problem: evaluate the results and
check for validity
– Paper: proof the paper, check to see if the
thesis was supported and proved
• I often refer to the problem solving
approach as the “Maze” approach
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An Approach to the Problem Solving
Process by Dr. Levy
• Have you ever worked a maze?
– I work it from both ends
• We can solve problems the same way
– Identifying the information we have is working
the problem from the starting point
– Identifying the formulas we need and the
information we have and are missing is
working the problem from the end
• Continue working the problem from both
ends until we have the solution
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An Approach to the Problem Solving
Process by Dr. Levy
• Remember, the key is to use a consistent
process
• Example:
– John is driving at an average speed of 50
mph. He needs to travel 200 miles. How long
will it take him to drive this distance?
• Solution:
– Objective: determine how long it will take
John to drive 200 miles
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An Approach to the Problem Solving
Process by Dr. Levy
• Solution:
– Objective: determine how long it will take
John to drive 200 miles
– Information we know:
• Average speed is 50 mph
• Distance to travel is 200 miles
– Formula, or ending point, we need to use:
• Speed * time = distance
• 50 mph * time = 200 miles
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An Approach to the Problem Solving
Process by Dr. Levy
• Solution:
– Time = 4 hours
– Is this a reasonable answer?
– Don’t forget to use the units of measure as
well
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