Analyse daily operation of our supermarket

Reference no: EM132309846 , Length: 4 pages

Many businesses have fixed expenditures, like rent, power bills, wages, supply cost, and somewhat random income flow that depends a number of customers/sales for any given period of time. So, even a very good organisation might become a bankrupt if it has an "unlucky" period and no savings to cover a shortfall between expenses and incomes.

Your task is to analyse daily operation of our supermarket and identify its risks at 5% level. Prepare a brief report for the following questions:

1. What are average total sales/turnover per day. For this report, we are interested in dollar value only. We will assume that supermarket profits are proportional to its turnover.

2. What is a "worst case" scenario with 5% probability. Get an estimation from the empirical (observed) data. Then fit an appropriate distribution in to sales data and estimate 5% tale for that distribution.

3. Sales are generated by customers; hence you should try to solve the same problem through modelling customers arrivals, that is, a number of shopping trips. Estimate a model (distribution) for a number of shopping trips per day.

As you don't do analysis on the customer level, you don't need customers ID and you don't worry about "generic" cards. You group data by Receipt ID and date/time, to get a unique shopping trip.

4. Use bootstrapping approach to model sales per day. That is, generate the number of shopping trips for Day 1 according to the estimated distribution above - X shopping trips. Then sample at random sales for X shopping trips from the empirical distribution of observed shopping trips. Summation will give you a total "possible" sales forDay 1.

5. Repeat generating number of shopping trips per day and random sampling for a significant period of time, say for 10-20 years and analyse resulted distribution of total sales and in particular 5% probability worst case scenario.

6. Compare and discuss results from questions 2 and 5.

7. Provide one paragraph discussion on possible shortcomings of the bootstrapping procedure presented in question 4.

Reference no: EM132309846

Questions Cloud

Models of communication : Models of Communication, explain what each model is about?

Possible to view creationism as a scientific model : ASAP need help with these concepts please: also need examples

Examine the changing environment for business : Examine the changing environment for business and factors impacting on communication in today's workplace.

Condition of risk or a condition of uncertainty : In your opinion, is it easier to make a decision under a condition of risk or a condition of uncertainty? Why? Give an example from your experiences to support

Analyse daily operation of our supermarket : INFS 5096 - Customer Analytics in Large Organisations - University of South Australia - analyse daily operation of our supermarket and identify its risks

Build a logistic regression model for predicting : CIS8008 Business Intelligence Assignment - Written Practical Report, University of Southern Queensland, USQ, Australia. Build a Logistic Regression model

What does the term adjusted food cost mean : What does the term adjusted food cost mean? Why should you not just use your purchases as your food cost?

To what extent do each of these exist at jpl : Examine exhibit 14.2 (Org culture dimensions). To what extent do each of these exist at JPL? Explain your reasoning.

How does a manager communicate her authority : How does a manager communicate her authority? Give specific verbal and non-verbal examples.

Reviews

len2309846

5/22/2019 12:30:51 AM

You don’t need to submit programming code; however, you should retain copies of all assignment computer files used during development of the solution to the assignment. These files must remain unchanged after report submission, for the purpose of checking if required. If you have any questions – feel free to ask on the forum. You can and should discuss this exercise with me and other students.

len2309846

5/22/2019 12:30:45 AM

Exercise 2 due date is Please start this exercise early and finish it early too. You have to submit one file with your report in MS Word or PDF format. Report should be brief as this is a small exercise only. While the list of questions might look intimidating, they do not require a lot of writing. But they require some graphs to show your distributions.

len2309846

5/22/2019 12:30:37 AM

This is your second assessable exercise which is part of the continuous assessment. This exercise is worth 10 points of your final grade. For this exercise, you will work with the same supermarket data you used in Assignment 1. I suggest focusing on one-year data only – 2015. Mixing different years might be a bad idea as prices might change due to inflation. Customers behaviour might change over time as well.

Write a Review

Required(*) Message

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages