Reference no: EM132758967

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

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 the following 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).

Attachment:- Business Planning Using Statistical Methods.rar