LEARNING OUTCOMES AND ASSESSMENT REQUIREMENTS
On successful completion
of this Unit a learner will:
In this assessment you will have the opportunity to present evidence that shows you are able to:
LO1. Be able to use a variety of sources for the collection of data, both primary and secondary.
1.1 Create a plan for the collection of primary and secondary data for a given business problem.
1.2 Present the survey methodology and sampling frame used
1.3 Design a questionnaire for a given business problem
LO2. Understand a range of techniques to analyse data effectively for business purposes
2.1 Create information for decision making by summarizing data using representative values.
2.2 Analyse the results in 2.1 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
LO3. Be able to produce information in appropriate formats for decision making in an organizational context
3.1 Produce graphs using spreadsheets and draw valid conclusions based on the information derived
3.2 Create trend lines in spreadsheet graphs to assist in forecasting for specified business information
3.3 Prepare a business presentation using suitable software and techniques to disseminate information effectively.
3.4 Produce a formal business report
LO4. Be able to use software-generated information to make decisions in an organization
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 making
Together with your friends you have decided to establish a small restaurant in Manchester because you believe that there is a big market for young people who want to dine out. You will need to find premises at a suitable location. You recognize that Manchester is a multicultural city and your restaurant will specialise in offering value for money meals using organic produce. Naturally before investing any money into the project, you have decided to collect data to find out if the restaurant will be successful or not. You are aware that the data collection must be done properly if any information that you extract from it is to be useful and reliable. Keeping this in mind, please answer the following questions:
1.1 Create a plan for the collection of primary and secondary data that will be useful for the launch of your restaurant. Describe each of the stages that you will follow on your plan and justify the selection of methods of collecting data that you are going to use.
1.2 Explain, with justification, the sampling frame and survey methodology that will be most appropriate in your investigation. Which sampling techniques are most suited for this survey and why?
1.3 Design a questionnaire that you will use to collect primary data from UK customers using dichotomous, multiple choice and open ended questions.
This provides evidence for 1.1, 1.2, 1.3
The following are the sales and expenses figures for HMV for the past 18 years.
Sales Expenses £ Net Income £
Sales Expenses £
Net Income £
2.1 Use Excel software to calculate the mean, median and mode of the net income. You must copy and paste your spreadsheet onto the answer page.
2.2 Define mean, mode and median and explain the advantages and disadvantages of using each one of them. Analyse the results you calculated in 2.1 above and draw conclusions about the net income of HMV.
2.3 Use Excel to calculate the standard deviation of the net income of HMV. Explain how standard deviation is useful for HMV business purposes. Calculate the range about the mean within which approximately 95% of the net income values fall.
2.4 Use excel to calculate the correlation coefficient between sales expenses and net income.
Calculate the interquartile range and 80th percentile of the net income data.
Explain how HMV may use quartiles, percentiles and correlation coefficient to draw useful conclusions for the business.
This provides evidence for 2.1, 2.2, 2.3, 2.4
Scenario: The Managing Director of a company that packages olive oil imported from Italy to UK has hired you for the position of presentation and report writer. The managing director gives you the following types of data and asks you to make a report for the board of directors. Following is the different types of data sets the managing director has given you:
Television Advertising & Sales Figures from Year 1995 to 2010
3 (1) Produce a line graphs for advertising and sales figures from 1995 to 2010 and draw valid conclusions from the information derived.
3(ii) Produce pie charts and bar charts for the following net income generated by the five branches of the company and draw valid conclusions from the information derived.
Net Income Generated by the Five Branches of the Company in 2010
Net Income £
3 (iii) Produce histograms for hourly rate of different office employees of the company in 2012 using bin ranges 0-10,11-20,21-30,31-40,41-50,51-60,61-70 and 71-80 and draw valid conclusions from the information derived.
Hourly Rate of Different Rate of Office Employees
£ £ £ £
32 43 27 25
43 54 30 27
25 18 52 29
43 24 71 36
43 45 75 43
27 68 31 54
29 33 73 67
3.2 Produce a scatter graph of Sales figures using spread sheets and draw conclusions.
Create trend lines in the spread sheet graphs to assist in forecasting the business sales.
Obtain the linear equation of the line fitted in the scatter graph.
Explain the terms of the equation and use the linear equation to forecast sales for 24th month and 30thth month.
Use the Excel forecast- function to predict sales for the period Jan 2011 to June 2011.
3.3 Prepare a business presentation using suitable software to disseminate the information obtained in 3.1 and 3.2 effectively to the stakeholders in United Kingdom.
3.4 Produce a formal business report of the Olive Oil company discussing your findings.
This provides evidence for 3.1, 3.2, 3.3, 3.4
4.1 Explain the use of Management Information Systems in the operational, strategic and tactical functioning of an organisation. Give examples of software used at each level.
4.2 You are working with a team involved in completing a project to build a restaurant. The data for the construction project is as follows:
4.2 Define project management and determine the critical path using network diagram. Explain the terms Early Start, Late Start, Early Finish, Late Finish, Slack, Dummy.
4.3 This project completed at a cost of £420,000.00. Your team has been given the following figures for cash inflows for the project and the company’s weighted average cost of capital is 12%.
Report on the financial viability of this project using NPV and IRR.
Cash inflows (£million)
This provides evidence for 4.1, 4.2, 4.3
In addition to the PASS criteria on page 2, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades
M1: An effective approach to study and research has been applied relevant theories and techniques have been applied
· Relevant theories and techniques have been applied
· Effective judgments have been made
· Complex problems with more than one variable have been explored
· An effective approach to study and research has been used
· The selection of methods and techniques justified
The 10 stages of the data collection plan discussed in class are clear and data collection methods selected have been justified.
Has applied the appropriate structure and approach in choosing relevant survey methodology. Population defined and chosen representative sample of a suitable size.
The questionnaire contains sufficient and relevant questions that help to identify the information required.
Task 1 of LO1 materials indicate that detailed and well-focussed research has been carried out
M2: The research carried out shows full Harvard referencing within the work.
· A range of methods and techniques has been applied
· Complex information/data have been synthesized and processed
· Appropriate learning methods/ techniques applied
Data analysis was of a good standard. Applied the measures of central tendency appropriately to analyse net income data of HMV.
Used relevant techniques to evaluate range of net income of HMV with reference to standard deviation.
Processed and synthesized data to analyse standard deviation to a good standard.
Used good demonstration to explain how HMV will use percentiles and quartiles. Used relevant tools and techniques to assess the correlation coefficient and conclusions were justified
M3: Present and communicate appropriate findings
· Appropriate structure and approach has been used
· Logical and coherent arguments have been presented
· Technical language accurately used
· A range of methods of presentation has been used
· Familiar and unfamiliar contexts have been used
· It is appropriate for familiar and un familiar audiences
The appropriate structure and approach has been used for the production of graphs.
Trend lines and regression equation have been obtained and inserted on graph. The terms of the regression equation explained using appropriate technical language.
Suitable software has been used to produce results on a business format. A range of methods of presentation have been applied to summarize data effectively
Report contains relevant data and is of appropriate business format and structure with headings and numbered paragraphs. Used business terminology accurately and appropriate for familiar and unfamiliar audiences.
D 1: Use critical reflection to evaluate own work and justify valid conclusions
· Synthesis has been used to generate and justify valid conclusions
· The validity of results has been judged.
· Evaluation has taken place using defined criteria
Has conducted a succinct evaluation of primary and secondary data collection methods and justified the selection of data collection methods used.
Survey methodology explained using the appropriate jargon and is of appropriate structure. Conducted a succinct evaluation of sampling techniques and explained how to avoid sampling errors.
Questionnaire is well structured and is of good appearance. There is a good variety of dichotomous, open ended and multiple choice questions.
D 2: Demonstrate convergent/lateral/creative thinking
· Convergent and lateral thinking have been applied
· Capacity for innovation and creative thought has been used
Receptiveness to new ideas has demonstrated
Technical language has been accurately used to draw conclusions in the correct business context. Reasoned judgements were arrived at based on succinct analysis of results
Trend lines and discussions are relevant and address the key points for decisions making. Forecasting informs on the expected sales level and the feasibility of the project
Design of presentation is of a very high standard. Communication is appropriate for familiar and unfamiliar audiences. Evaluation of data is thorough and convincing
D3: Take responsibility for managing and organising activities
Autonomy/independence demonstrated Substantial activities/projects or investigations have been planned, managed and organized
Have demonstrated an effective approach to independent research and study and will have met the deadline to submit the tasks and achieve the unit assessment criteria.
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