Prosthetic Hooks and Hands Homework

Prosthetic Hooks and Hands Homework

This problem is to be completed by your entire team

In the problem below, you are asked to revise your pricing model for prosthetic hooks and develop a new model for pricing prosthetic hands. All computations must be performed in Excel using appropriate absolute, relative, and mixed cell references. Your team must use the standard Excel template to create an organized, easy to follow spreadsheet.In addition, your team's memoto the client must be supported by your computations.

Your Word filename must be team#_divsec_prosthetic_report.doc, and your Excel filename must be team#_divsec_prostheticcalcs.xls where # stands for your team number and divsec stands for your lab division and section number. For example, if you are in lab division and section 0603, which meets on Wednesday at 7:30 am in ENAD 135, and your team number is 4, your Word file name will be team4_0603_prosthetic_report.doc.

Internal Memo
To: Helping Hands Prosthetics Employees
From:CEO Jamie Halmarson
RE: Task
Dear Team,
I would like your team to revisit your pricing model for Helping Handsprosthetic hooks. Recall that your team’s model will serve as a reference tool for our customer service department. I wish your team to ensure that our current stock of hooks is accurately reflected by the pricing method your team has proposed. Your team must:

Analyze the accuracy of your current model. That is, quantify how well your model predicts the price of our current hook designs.
Determine how the level of accuracy found can be improved and modify your model appropriately. Should your initial model be successful, your team should still provide the documentation listed below.
Provide in a memo to me:
Results from your accuracy analysis of your original and final model.
A clear description of the prosthetic hook features your team has employed in your pricing model. Be sure to note any features you chose NOT to consider when creating your model and provide rationale for why you chose not to include them.
A clear explanation of how a custom prosthetic hook price isestimated by your model. This should include a mathematical description of how each feature contributes to the price estimate of a custom prosthetic hook.
A clear explanation of the procedure your team used to develop your pricing model (including rationale for why you designed your pricing model the way you did). This procedure includes what your team did in the previous assignment and this current assignment.

I would also like your team to develop a pricing model for our prosthetic hands that reflects our current prosthetic hands in stock. The information and data for our current hands inventory is given in the attached tables. There is a greater number of variables involved in manufacturing a prosthetic hand, so this pricing modelmay be more complex than the hooks model. It may be helpful to decide which variables carry the greatest importance in determining the total price and focusing on them before attempting to include variables of lesser value.
In a memo to me, provide:

A clear description of the prosthetic hand features your team has employed in your pricing model. Be sure to note any features you chose NOT to consider when creating your model and provide rationale for why you chose not to include them.
A clear explanation of how a custom prosthetic hand price isestimated by your model. This should include a mathematical description of how each feature contributes to the price estimate of a custom prosthetic hand.
A clear explanation of the procedure your team used to develop your pricing model (including rationale for why you designed your pricing model the way you did).
Results from your accuracy analysis of your final model.

Sincerely,
Jamie Halmarson

Specifications for Helping Hands Current Stock of Prosthetics Hooks

Use the information and specifications given below to create your pricing model for the current prosthetic hooks in Helping Hands inventory.

Table 1. Material Density

Material / Density (g/cm3) / Raw Price $/kg
Aluminum / 2.7 / 1.84
Steel / 7.16 / 0.35
Polymer / 0.9 / 39.00

Table 2. Volume and Material Data for In-Stock Prosthetic Hooks

Hooks / Total Volume (cm3) / Hook Material / Joint Material / Filler Material
Aluminum Hook / 27 / Aluminum / Steel / None
SS Hook / 27 / Steel / Steel / Polymer
Voluntary Closing Hook / 27 / Aluminum / Steel / Polymer
Voluntary Opening Hook / 27 / Aluminum / Steel / None
Work Hook / 33 / Steel / Steel / Polymer

Table 3. Internal Data for All Current Prosthetic Hooks

Prosthetic / Current Selling Price ($) / Mechanical Properties / Materials
(% volume)
Pressure Settings / # of Joints / Joints / Hook / Filler & Shell
Hooks
Aluminum / 310 / 1 / 1 / 5 / 95 / 0
Stainless Steel / 250 / 1 / 1 / 5 / 94 / 1
Voluntary Closing Hook / 715 / 2 / 1 / 5 / 90 / 5
Voluntary Opening Hook / 721 / 2 / 1 / 5 / 95 / 0
Work Hook / 860 / 4 / 2 / 10 / 94 / 1

Additional Notes:

A pressure setting allows the user to control the amount of pressure the prosthetic applies when closing. A greater number of pressure settings allows for greater variability in the applied pressures. Hence, a user may use pressure setting 1 to pick up a delicate strawberry and pressure setting 2 to pick up a heavy piece of steel.
The filler and shell are used to make the prosthetic appear more aesthetically pleasing to the eye.
All material joints are comprised of steel. The filler and shell is always made of polymer. The hooks are made of either steel or aluminum. The material percentages are given in Table 3.

Specifications for Helping Hands Current Stock of Prosthetics Hands

Use the information and specifications given below to create your pricing model for the current prosthetic hands in Helping Hands inventory.

Table 4. Material Density

Material / Density (g/cm3) / Price $/kg
Aluminum / 2.7 / 1.84
Steel / 7.16 / 0.35
Wood / 0.75 / 0.05
Polymer / 0.9 / 39.00

Table 5. Volume percentage outlines for Prosthetic Hands

Hands / Max Volume Percentage / Max # / Min #
Joints / 1% Each / 14 / 2
Fingers / 16% Each / 4 / 4
Thumb / 11% / 1 / 1
Filler and Shell / Remaining % / NA / NA

Table 6. Volume and Material Data for In-Stock Prosthetic Hands

Hands / Total Volume (cm3) / Structural Material / Filler/Shell / Joints
Wood Hand / 76 / Wood / Wood / Steel
Lock Grip Hand / 76 / Steel / Polymer / Steel
Voluntary Closing Hand / 76 / Aluminum / Polymer / Steel
Soft Voluntary Opening Hand / 76 / Steel / Polymer / Steel
Robin Hand / 76 / Steel / Polymer / Steel
Dorrance Hand / 76 / Aluminum / Polymer / Steel
Becker Hand / 71 / Steel / Polymer / Steel

Table 7. Internal Data for All Current Prosthetic Hands

Prosthetic / Price ($) / Mechanical Properties / Materials
(% volume) / Look/Feel
Color / Filler/Shell / Feel
Manual / Automatic / Pressure Settings / # of Joints / Joints / Fingers / Thumb / Filler & Shell / One Color / Shades to choose from / None / Some / Full / Hard / Soft
Hands
Wood / 187 / 0 / 2 / 2 / 16 / 0 / 82
Lock Grip / 415 / 2 / 2 / 2 / 16 / 11 / 71
Voluntary Closing / 1,075 / 5 / 10 / 10 / 64 / 11 / 15
Soft Voluntary Opening / 215 / 3 / 2 / 2 / 16 / 11 / 71
Robin / 362 / 2 / 3 / 3 / 16 / 11 / 70
Dorrance / 763 / 2 / 3 / 3 / 32 / 11 / 54
Becker / 490 / 3 / 10 / 10 / 64 / 11 / 15

Additional Notes:

A manual hand will close or open when the user manually applies tension, by extending or contracting the arm, to a wire running from the prosthetic to the users arm. An automatic arm will perform the task with an automatic closing and or opening mechanism.
A pressure setting allows the user to control the amount of pressure the prosthetic applies when closing.
The number of joints is simply the total number of joints used in the prosthetic hand. All material joints are comprised of steel.
The filler and shell are used to make the prosthetic appear more aesthetically pleasing to the eye. The filler and shell is made of either polymer or wood.
The hand’s fingers and thumb are made of steel, aluminum or wood.
The material percentages are given in Table 7.