Business Statistic Discussion: "One-factor-at-a-time (OFAAT) and Design of Experiment (DOE)"
Note: Online students, select one of the two subjects to discuss.
• Per the textbook, trying to understand factors that impact the outcomes of business process is an important aspect of improving business operations. Conventional wisdom plans experiment one-factor-at-a-time (OFAAT). Compare and contrast the main advantages and disadvantages of OFAAT and DOE and select the approach (e.g., OFAAT or DOE) that you would use in order to obtain effective business process. Provide a rationale for your response.
• Select one project from your working or educational environment that you would apply the DOE technique for the work process. Next, analyze the overall manner in which you would utilize DOE to manage and improve the work process of the project in question. Provide a rationale for your response.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.