Reference no: EM133144043

BUS306 Quantitative Business analysis - Liwa College of Technology

Project Task
You have to respect the working guidelines given below and the submission date.

A. Project Structure:

It is recommended that your project report have the following structure in the order provided here.

1. Title page

The students' details should be filled in the cover letter provided.
2. Abstract / Executive Summary
The Abstract consists of the project title and about half a page concise summary containing the scope and results of your study.
3. Table of Contents
Table of contents should contain titles and page numbers for the main sections and subsections of your report. The table of contents should also include entries for any appendices in your report.
4. Report Body
This is the central and main part of the project which contains the actual work done during the project. The main requirement is that you need to structure the report so that it is clear and structured in a way that makes sense. Grammar and spellings count.

5. Conclusions

The project's conclusions should list the things which have been learnt as a result of the work you have done.

6. References

You are responsible for appropriately citing material and methods that you use. Give references from a text book, a magazine or a website identifying its sources while using the appropriate form. In the references section, references should be in a numbered list, ordered alphabetically by the last name of the first author.

Problem 1:

The handicraft trader needs to pay $10000 for rent, $5000 salaries, and another $5000 for marketing campaigns. The handicraft trader has the choice to import his products from different countries, and it will cost him $20 per unit if the product comes from China, $25 per unit if the product comes from India, and $15 per unit if the product comes from Malaysia.

Questions:

1. If the trader must choose to import his products from one country, then which country will it be?
2. compute the trader's profit if he sells 40 units imported from China and 50 units imported from India.
3. If the trader decides to import only from China, how many units he should sell to reach a profit of $2000?
4. . Compute the Break Even point (BEP) if the trader imports from India.

Problem 2: Applications of forecasting and regression techniques in business Case study

Daily sales of industrial Vacuum cleaners over two months from September 2021 to October 2021 are presented in the Excel sheet "Sales_Spring 2022"
I- Using those forecasting methods to determine the sales for vacuum cleaners from 20/10/2021 to 01/11/2021

2- The weighted moving average with 3 periods, determine the sales for vacuum cleaners, use 9,6,3 for the weights of the most recent, second most recent, and third most recent, respectively.

3- The exponential smoothing, assume the initial forecast for 19/10/2021 is 10,000, the smoothing constant selected is 0.2

4- Evaluate the accuracy of each of these methods

5- Which of the 3 methods provides a more accurate forecast.

II-
1- Prepare a graph of the data, discuss any apparent trend and seasonal patterns
2- Use regression to develop a trend line that could be used to forecast daily sales for the next month
3- we want to test the significance of the regression model constructed earlier, by conducting the hypothesis test and Constructing the ANOVA table.
Perform the test at the significance level α = 0.05

Problem 3:
A furniture company produces inexpensive tables and chairs. The production process for each is similar in that both require a certain number of hours of carpentry work and a certain number of labour hours in the painting department. Each table takes 4 hours of carpentry and 2 hours in the painting department. Each chair requires 3 hours of carpentry and 1 hour in the painting department. During the current production period, 240 hours of carpentry time are available and 100 hours in painting is available. Each table sold yields a profit of E7; each chair produced is sold for a E5 profit. Find the best combination of tables and chairs to manufacture in order to reach the maximum profit.

Problem 4:
SEERVADA PARK has recently been set aside for a limited amount of sightseeing and backpack hiking. Cars are not allowed into the park, but there is a narrow, winding road system for trams and for jeeps driven by the park rangers. This road system is shown below where location O is the entrance into the park; other letters designate the locations of ranger stations (and other limited facilities). The numbers give the distances of these winding roads in miles. The park contains a scenic wonder at station T. A small number of trams are used to transport sightseers from the park entrance to station T and back.
The park management currently faces a problems: is to determine which route from the park entrance to station T has the smallest total distance for the operation of the trams.
Use the shortest-route technique to minimize total distance from the park entrance to station T.

Short essay:
Explain how the manager could select between the different methods of decision analysis to take the optimal decision based on:
- the environment
- the manager`s Caracter