Assignment Task / Description:

Task 1:

(This provides evidence for outcome 2 assessment criteria 2.1, 2.2)

Read the Scenario and then answer the questions given below:

SCENARIO

A branch of a national bank located at a bustling commercial area of the city wishes to improve its processes for serving customers during the afternoon timings of 12.00 to 1.00pm, which is the lunch period. The waiting time in minutes is defined as the time the customer enters the line to when he/she reaches the window of the teller.

Below is the data collected from a sample of 15 customers during this hour:

5.55

3.02

5.13

4.77

2.34

3.54

3.79

4.50

6.10

0.38

5.12

6.46

6.19

(A) Compute and interpret the mean and median.

(B) Compute and interpret the five number summary in a business context.

(C ) Compute variance, standard deviation and coefficient of variation and interpret in business context.

(D) Is the data skewed? If so explain how? and explain which measure(s) is(are) suitable for the above purpose.

(E) One day a customer walks into the branch of the bank during the lunch hour, he asks the branch manager how long he can expect to wait. The branch manager replies, Almost certainly less than five minutes. On the basis of your computations above evaluate the accuracy of the branch managers statement.

Task 2:

(This provides evidence for outcome 2 assessment criteria 2.3, 2.4 & outcome 4.1, 4.3)

A large family-held department store selling furniture and flooring, including carpets wants to evaluate its profitability on the sale of carpets. Given below is the data on sales (in units) and selling and distribution expenses (in hundreds) of the company for a ten month period:

Month

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Sales in units

50

50

55

60

62

65

68

60

60

50

Selling & Distbn Exp

11

13

14

16

16

15

15

14

13

13

(A) Make a Scatter Diagram from the above data to know if there is any correlation between the two variables detailed in the table above.

(B) Calculate the Coefficient of Correlation.

(C ) State your interpretations based on your analysis in (A) and (B) above and answer whether you think that there is a correlation between sales and selling & distribution expenses of the company? Is it positive or negative? Is it high or low? Give adequate explanations for your answer.

(D) Find the ratio of selling & distribution expenses to sales given the ten month period sales as below, also compute the average percentage of selling & distribution expenses to sales for the period.

Month

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Sales in units

12500

14000

25000

20000

35000

38000

42000

36000

32000

28000

Task 3:

(This provides evidence for outcome 4 assessment criteria 4.2)

For a small cookie shop, you need to analyse a simple cookie-baking project. The recipe provides the complete statement of work, for which the work breakdown structure can is given in the table below. The resources available for this project are two cooks and one oven with limited capacity; the raw materials are the ingredients to be used in preparing the cookie dough. The activities (as in the table below) take a total of 80 minutes of resource time. Because some activities can run parallel, the cooks should complete the project in less than 80 minutes.

For example, once the oven is turned on, it heats itself, freeing the cooks to perform other activities. After the dough is mixed, both batches of cookies can be shaped; the shaping of the second batch does not have to wait until the first batch is complete. If both cooks are available, they can divide the dough in half and each cook can shape one batch in the same four-minute period. However, if the second cook is not available at this time, the project is not delayed because shaping of the second batch need not be completed until the first batch exits the oven.

Table: List of Project Activities (CPM)

Description of Activity

Duration (minutes)

Immediate Predecessor(s)

A Preheat oven

15 minutes

B Assemble, measure

8 minutes

ingredients

C Mix dough

2 minutes

B

D. Shape first batch

4 minutes

C

E. Bake first batch

12 minutes

A, D

F. Cool first batch

10 minutes

E

G. Shape second batch

4 minutes

C

H. Bake second batch

12 minutes

E, G

I. Cool second batch

10 minutes

H

J. Store cookies

3 minutes

F, I

Total Time

80 minutes

You are required to prepare a project plan using a network diagram for an above cookie baking project given the set of activities and determine the critical path.

Learning Outcome/s achieved in the assignment:

By completing this assignment successfully, the student will achieve the following learning outcome:-

Learning Outcome

Assessment criteria

LO2 Understand a range of techniques to analyse data effectively for business purpose

2.1 create information for decision making by summarising data using representative values

2.2 analyse the results to draw valid conclusions in a business context

2.3 analyse data using measures of dispersion to inform a given business scenario

2.4 explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context

LO4 Be able to use software- generated information to make decisions in an organisation

4.1 use appropriate information processing tools

4.2 prepare a project plan for an activity and determine the critical path

4.3 use financial tools for decision

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