Reference no: EM132758956

Unit 31 Statistics for Management - Higher National Diploma in Business Administration

Assignment - The Role of Statistics in Evaluating Business and Economic Data

Learning Outcome 1: Evaluate business and economic data/information obtained from published sources

Learning Outcome 2: Analyse and evaluate raw business data using a number of statistical methods

Assignment Brief

In order to open a new plant to expand foreign direct investment, the board ofdirectors in Renault Corporation require a feasibility report to justify the decision.The senior managersneed to predict the demand level on Renault cars in the nextfew years so they can determine the optimal capacity of thenew plant. They asked their colleagues in Evaluatingand Monitoring department to collect relevant business and economic data.

Employees in Evaluating and Monitoring department collected the following data about National Economy in Turkey : GDP Per Capita Current $ (annual),Population Growth Rate % (annual), Cars' Sales (annual) (data are available inNational Economy Data Excel sheet).

In order to get more sufficient data, Marketing-Research department prepareda questionnaire in which they asked the individuals the following closed- endedquestions:
1- What is you preferred car?
2- Your preferred car's price compared to other brands is: very expensive,expensive, neither expensive nor cheap, cheap, or very cheap?
3- Your preferred car's price compared to the brands quality is very high,high, reasonable, low, or very low
4- What is your current disposable income?
5- What is your neighborhood?
6- What is your educational qualification? (data collected are available in Questionnairedata Excel sheet)

Furthermore, the financial and operations managers in one of the existing Renault cars'accessories stores located in Zeytinburnu want to predict the money amountthat every customer spends per shopping trip. The Monitoring & Evaluatingdepartment have reviewed historical data and considered standard deviation ofpopulation as known at the value of 400 Turkish Lira. The financial managerasked the Monitoring & Evaluating department to collect a random sample of 100customers' expenditure spent per shopping trip.

As a business and economic data analyst in Renault corporation, you have beenasked to produce a report about business and economic data evaluation where youshould critically evaluate the differences in application between descriptive, confirmatory, and exploratory analysis methods by:

1. Providing a critical evaluation of different business data/ information throughapplying different data analysis methods consideringdata types, sources and sufficiency,the importance of converting data into information,and the significance of different data analysis methods to investigate therelationships between different dataset variables to help Renault corporation determine the expecteddemand level.

2. Analyzing and evaluatingRenault cars' sales data in Mersin and Bursa considering:
a) Applying descriptive data analysis for each of them. And show howyou can use the results of analyzing these two data series to determinethe city where the sales were more stable.
b) Evaluating the feasibility of calculating measures of central tendencyand measures of variability for the questionnaire and sales data togenerate useful information that can help the managers understand themarket conditions and make the right decisions.

3. Evaluating the differences in application between inferential statistics andmeasuring associations considering:

a) Application of inferential statistics (sampling) to suggest an interval thatcan contain the mean of customers' money amount spent per shoppingtrip in Renault car accessories store during the next two monthsaccording to the data available in the random sample (data are availablein "Customers' Purchases Sample" sheet of Excel file) at significance level of 5% .

b) Applications of measuring association between each of the two cost itemsand sales amounts in Mersin branch at the significance level of 5%. (data areavailable in Sales Training & Advertising Data sheet of the Excel file).

Assignment - Business Planning Using Statistical Methods

Learning Outcome 1: Apply statistical methods in business
Learning Outcome 2: Communicate findings using appropriate charts/tables

Assignment Brief

BIM Birlesik Magazalar A.S. first opened the doors in 1995 with 21 stores. Itsmain principle is to offer consumers basic food items and consumer goods at thebest prices and highest quality. BIM, pioneer of the hard-discount model inTurkey, limits its product portfolio to approximately 600 items and aims at havingdiverse private label products. BIM, acting on the vision to bean international company, continues to explore new potential marketopportunities in the other countries. BIM maintains its Moroccan operations byopening 50 new stores in 2016 and reached 329 stores in total. In 2016, BIMopened 75 new stores and reached 215 stores in a short time in Egypt which is thesecond foreign operation of the company.

The following are some cases and issues that BIM's managers face in Uskudarneighborhood where they can apply statistical techniques to plan their businessactivities:

Sales manager is interested in the number of customers who arrive at a cash pointduring a 15-minute period on weekday evenings. The probability of customerarriving is the same for any two-time periods of equal length, the arrival ornonarrival of customers in any time period is independent of the arrival ornonarrival in any other time period, and the analysis of historical data shows thatthe average number of customers arriving in a 15-minute period of time is 20.

In order to determine any possible difference between the standardized weightand the actual one, quality control specialist always picks up samples of differentproducts. Bim produces dairy products such as Milk Bottles of 500 grams weight.Although machines cannot fill the Bottles by exactly 500 grams, under normalprocess conditions the average weight should be 500 grams. A sample of 100milk Bottles has been chosen. From historical available data Quality controlspecialist considered the standard deviation of the milk Bottle population knownat the value of 20.

In Uskudar neighborhood as well, Bim owns a store that sells silverwares. Basedon the past experience, the store manager estimates the probability that any onecustomer will make a purchase at 35%.
The Financial Manager wants to evaluate the effects of using different softwareon auditors' efficiency. Four different random samples of auditors who usedifferent accounting software have been chosen; each sample contains sevenauditors' times required to complete year-end audits.

A-As a business planning assistant in BIM corporation, you have been asked toproduce a report using statistical methods to help managers in BIM make the right decisions by applying, justifying, and evaluating appropriatestatistical methods for making valid and rationalized recommendations for strategicplanning regarding the following issues:

- Sales manager wants to know the probability of exactly 30 arrivals in 15minutes. If the probability is more than 50%, she will ask HR manager tohire a new employee to raise the branch HR capacity.

- Quality control specialist wants to run a test to know if there is astatistically significant difference between the population mean and 500grams at significance level of 5%. Indeed, he wants to stop the producingprocess and check the machines if the test results show statisticallysignificant difference. (data is available in sample of milk Bottles sheet inExcel file)

- If probability that three of the next ten customers will make a purchase isless than 50% then manager of the store that sells silverwares may need toclose the branch.

- The financial manager wants to know whether there is a statisticallysignificant difference between auditors' efficiency related to differentaccounting software they use at significance level of 5%. (data is availablein auditors' sample sheet in Excel file)

B-Further, you have been asked to prepare a presentation where you must use,justify, and evaluate the use of different charts and tables to communicate thefollowing given findings:

a) Times required by different accountants for Journalizing & posting (byminutes). (data is available in journalizing & posting time sheet of Excel file)

b) Soft drink Sales. (data is available in Soft Drink Sales sheet of Excel file)

c) The data for sales 2019 (weekly and monthly)

d) Market share (data is available in sales data and market share sheets of Excel file).

Unit 11 Research Project - Higher National Diploma in Business Administration

Assignment - The Role of Talent Management in the Organization

Learning Outcome 1: Examine appropriate research methodologies and approaches as part of the research process
Learning Outcome 2: Conduct and analyse research relevant for a business research project
Learning Outcome 3: Communicate the outcomes of a research project to identified Stakeholders
Learning Outcome 4: Reflect on the application of research methodologies and concepts

Assignment Brief

Rising costs, rapidly changing customers preferences, and highly competitive business environment made the traditional approach of recruitment, training, and employees retaining no longer effective in terms of achieving strategic organizational goals such as attaining sustainable growth and competitive advantage. Furthermore, the bloody competition in different industries stimulates top managers to concentrate their efforts on building creativity and innovation culture in their organizations.

Talent Management (TM) which is the modern approach of recognizing and developing talented employees became an effective approach that help managers in different organizations to attain the said goals and ensure the organization's sustainable success by either having competitive advantages or building and renewing their blue ocean strategies.

You work as a Business ResearcherAssistant in a consulting agencyand you have been asked by your direct supervisor Business Researcher to conduct a research project about Talent Management (TM) on a company of your choice. The supervisor has asked you to achieve a comprehensive research project that should include the following:

• Research proposal that includes problem statement, research questions, hypotheses, and critical evaluation of different research methodologies and that one adopted with a clear justification.
• Secondary and primary research where you should discuss and critically evaluate data collection and data analysis methods and adopt those ones fit your research with clear justifications.
• Communication of results to the stakeholders with evidences that the research objectives have been achieved and with valid recommendations.
• Reflective report that should include critical reflections and insights regarding effective of applied research methods and lessons learned and recommended actions for future improvements.

Attachment:- Statistics for Management.rar