Business Decision Making Assignment : Aquapet
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Added on 2019-12-28
Business Decision Making Assignment : Aquapet
Added on 2019-12-28
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BUSINESS DECISIONMAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Plan for collection of primary data........................................................................................31.2 Survey methodology and sampling frame used in the research ...........................................31.2 Questionnaire for research ...................................................................................................4TASK 2............................................................................................................................................52.1 Statistical tools and decision making....................................................................................52.2 Analysis of results.................................................................................................................62.3 Analysis of measure of dispersion........................................................................................62.3 Calculation of quartile, percentile and correlation coefficient..............................................7TASK 3............................................................................................................................................83.1 Graphical representation of the collected data......................................................................83.2 Creation of trend line..........................................................................................................123.4 Preparation of business report.............................................................................................13TASK 4..........................................................................................................................................144.1 Appropriate information processing tools...........................................................................144.2 Critical path method ...........................................................................................................144.3 Project evaluation technique ..............................................................................................16CONCLUSION .............................................................................................................................18REFERENCES..............................................................................................................................19INDEX OF TABLESTable 1: Calculation of mean, median and mode............................................................................6Table 2: Calculation of standard deviation......................................................................................7Table 3: Calculation of quartile and percentile................................................................................8Table 4: Calculation of correlation..................................................................................................9Table 5: Creation of trend line.......................................................................................................13Table 6: Activity table...................................................................................................................15Table 7: Calculation of payback period method............................................................................17Table 8: Calculation of ARR.........................................................................................................17Table 9: Calculation of Net present value......................................................................................18
Table 10: Calculation of IRR.........................................................................................................18ILLUSTRATION INDEXIllustration 1: You give importance to quality over price while making purchase decisions?......10Illustration 2: Do you think that income level is affecting people purchase decisions related tofast food?........................................................................................................................................11Illustration 3: Aquapet is making available fast food items at higher price..................................12Illustration 4: KFC and other restaurants are charging a high price on customers........................13Illustration 5: Trend line for Aquapet............................................................................................14Illustration 6: GANTT chart..........................................................................................................16Illustration 7: Network diagram.....................................................................................................16
INTRODUCTIONAquapet is a chain restaurant that intends to open restaurant in the UK. Before starting abusiness lots of factors needs to be evaluated and in respect to this various statistical tools arediscussed in the report. Along with this these tools are also applied on the firm sales. After thatproject evaluation is done in the report in order to select best project for the firm. Critical pathmethod is also discussed in the report and its chart is prepared and results are interpreted inproper manner. In then report formal business report is prepared and comments are done on thefirm performance and opportunities that are available to same.TASK 11.1 Plan for collection of primary dataPrimary data is information which is collected for the first time by researcher thereby isan unpublished source of information. Whereas, secondary data is a fact hat is already collectedby someone else and was published on source of information. In order to conduct research forAquapet, both kinds of data will be collected (Sharma, Ranga. and Sharma, 2010). Secondarydata will help in understanding the past scenario and primary data will help in analyzing currentsituations. In order to conduct research in proper manner, a sample of 50 people will be takenwho resides in different borough of the London. Hence, by collecting information through theserespective sources, research can be conducted in legitimate manner.1.2 Survey methodology and sampling frame used in the research Sampling frame that can be used in the research is as follows:Simple random sampling- Under this, all sample units are taken randomly and noparameter is used for selecting a sample unit. This sampling method is used whenspecific types of people are not required in sample.Stratified sample- This is different technique where all sample units are taken fromdifferent parts of population by dividing them (Ridker, et.al, 2012). This method is usedwhen specific types of samples are required for research purpose.Cluster sampling- This is also different method of sampling and under this, geographicarea is divided into several parts and sample units are taken from these parts.
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