Evaluating Business Projects Using Statistics
Added on 2020-06-04
19 Pages3734 Words169 Views
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BUSINESS DECISION MAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1Plan for collection of primary and secondary data...........................................................11.2Sampling methods and survey methodology....................................................................11.3 Questionnaire for research.....................................................................................................2TASK 2............................................................................................................................................42.1 Calculation of descriptive statistics.......................................................................................42.2 Analysis of results..................................................................................................................52.3 Measures of dispersion..........................................................................................................52.4 Quartile and correlation.........................................................................................................6TASK 3............................................................................................................................................63.1 Analysis of primary data........................................................................................................63.2 Trend analysis chart...............................................................................................................93.3 Presentation of results..........................................................................................................103.4 Formal business report.........................................................................................................10TASK 4..........................................................................................................................................114.1 Information processing tools...............................................................................................114.2 Project network diagram......................................................................................................114.3 Project evaluation methods..................................................................................................13CONCLUSION..............................................................................................................................15Figure 1: People opinion on quality of service................................................................................7Figure 2: Quality of dining facilities at Murano restaurant.............................................................8Figure 3: Factors given importance by individuals while selecting any restaurant.........................9Figure 4: Trend analysis chart.........................................................................................................9
Figure 5: GANTT chart.................................................................................................................12Figure 6: Calculation of payback period.......................................................................................13Figure 7: Calculation of ARR........................................................................................................13Figure 8: Calculation of NPV........................................................................................................14Figure 9: Calculation of IRR.........................................................................................................14YTable 1: Calculation of mean, median and mode............................................................................4Table 2: Measures of dispersion......................................................................................................5Table 3: Calculation of quartile and correlation..............................................................................6
INTRODUCTIONResearch is one of the fastest growing field in UK and other nations of the world. In thecurrent research, analysis of data is done that is collected from people who consume products ofMurano restaurant. Descriptive analysis is done and through charts, primary data is analysed.Sample of 50 people is taken in the present research study. In middle part of the report, formalbusiness report is prepared and at the end, project evaluation methods are applied on cash flowand viability of project is measured.TASK 11.1Plan for collection of primary and secondary dataResearch is the one of the function that is performed in every organisation to makebusiness decisions. The current research will be carried out through primary data analysis.Usually, research is carried out through primary and secondary data analysis. In order to conductprimary research most of times, secondary data is gathered first of all by the researchers.Secondary data is collected from books, journals and magazines. It depends on the researcherthat which source they use for data collection (Baltzan and Phillips, 2016). Primary data iscollected by distributing questionnaire among respondents. In this regard, sample of specificnumber of respondents is taken by the researcher and questionnaires with filled answers areobtained from them. Matter that is gathered through review of literatures and data collected fromquestionnaire are analysed to arrive at specific point. It is inevitable to conduct both sort ofresearches because better understanding of situation is developed by using these approaches. Inthe current research study, sample of 50 people will be taken and questionnaires will be given tothem. Received data will be analysed and in this way, varied facts related to the research topicwill be identified. 1.2Sampling methods and survey methodologyThere are varied approaches that can be used to do sampling for the research. Some of themethods that are commonly used for sampling purpose are given below.Simple random sampling: It is an approach under which any person can be selected assample unit by the individual who is conducting research. In other words, it can be saidthat there is no specific parameter that is taken in to account for taking sample unit fromgroup of people. Thus, it is an easy to use approach and due to this reason, it is preferredby most of researchers. | P a g e
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