Get instant access to this case solution for only $15

Lake Erie Paper Case Solution

Solution Id Length Case Author Case Publisher
1031 312 Words (2 Pages) Peter C. Bell, Jing Chen Ivey Publishing: 308066
This solution includes: A Word File A Word File

Lake Erie Paper (LEP) being a pulp and paper mill has always kept a high quality standard for its product. With a significant daily production, LEP does not compromise on quality. The manual method being currently employed is time consuming, costly and labor intensive. The moisture meter is a newer and better replacement for the manual method and would save time and is less costly and eliminates the possibility of human error.

Case Analysis for Lake Erie Paper

Purchasing the moisture meter would definitely mean a significant investment and cash outflow in the short run, but the implications of the purchase are quite positive in the future. It would also mean that the company would no longer need to employ a number of trained workers and would also save money in salary payments. Even the experiment suggests that the moisture meter is a more accurate tool than 24 hours might not be enough time to heat the paper in an oven and any more time and the testing would have been even more expensive. It would also mean that the company no longer has to keep a day stock in order to test the product and use for production later. Testing would be done instantly, and it would be estimated there and then whether the material is up to standards or not.

The experiment can be analyzed through the calculation of the mean of the fifteen samples, which would suggest an average moisture rate of the material any other samples can be said to contain the mean moisture on average. Regression can also be run on the sample, which would form the best-fit line and can only be run if two variables are available. Regression analysis is used to estimate the value of the dependent variable given the value of independence and is used for forecasting. Regression is a better forecasting tool than mean.

Get instant access to this case solution for only $15

Get Instant Access to This Case Solution for Only $15

Standard Price


Save $10 on your purchase


Amount to Pay


Different Requirements? Order a Custom Solution

Calculate the Price

Approximately ~ 1 page(s)

Total Price


Get More Out of This

Our essay writing services are the best in the world. If you are in search of a professional essay writer, place your order on our website.

Essay Writing Service
whatsapp chat icon

Hi there !

We are here to help. Chat with us on WhatsApp for any queries.

close icon