The organizational data of a back office of a health insurance company indicates that every year more than 1,500 errors are being made, accounting for an annual loss of US $1.5 million. The total number of transactions are 4.8 million per year representing a revenue of $46.5 billion. The average error rate for the sector is 0.5%. Q2. Is the error management performance a concern for the company? Justify your answer. Refer to the steps discussed in Chapter 9 slides to calculate the KPI Overall Operations Effectiveness (OOE) and answer the following questions on how the KPI varies with measurement errors. Q3. For a daily production of 12000 tires with cycle-time benchmark of 1.1 min per minute and 24 machines running for 24 hours? Q4. For a daily production of 12000 tires with a measured cycle-time of 1.3min per minute and 24 machines running for 24 hours? Q5. For a daily production of 12000 tires with cycle-time of 1.3 min per minute and actually, 23 machines running for 24 hours? A pharmaceutical company has tested a new, experimental drug for Parkinson's disease. Compared with drugs currently prescribed, the new drug decreases symptoms such as tremors, limb stiffness, impaired balance and slow movement by 30 per cent. However, compared with the existing drugs, the mortality rate of patients taking the new drug those dying becouse of serious side effects) has increased by 200 per cent. The mortality rate of the existing drugs is 7 in 350,000 patients. Q6. Would you decide to bring this new drug to the market? Justify your