Business Decision Making Assignment TESCO

BUSINESS DECISION
MAKING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Sources of information for conducting a research................................................................3
1.2 Sampling methods in the research........................................................................................4
1.3 Questionnaire for research....................................................................................................5
Name : ____________................................................................................................................5
TASK 2............................................................................................................................................7
2.1 Information for decision making..........................................................................................7
2.2 Interpretation of data.............................................................................................................8
2.3 Interpretation of standard deviation......................................................................................9
2.4 Interpretation of quartile and correlation............................................................................10
TASK 3..........................................................................................................................................11
3.1 Graph and chart on the collected data.................................................................................11
3.2 Trend line for Tesco............................................................................................................16
3.3 Covered in PPT...................................................................................................................17
3.4 Formal business report........................................................................................................17
TASK 4..........................................................................................................................................18
4.1 Information processing tools for the business....................................................................18
4.2 Network diagram................................................................................................................19
4.3 Project evaluation methods.................................................................................................22
CONCLCUSION...........................................................................................................................23
REFERENCES..............................................................................................................................24
INDEX OF TABLES
Table 1: Calculation of statistical tools...........................................................................................8
Table 2: Calculation of correlation................................................................................................11
Table 3: Calculation of NPV.........................................................................................................22
Table 4: Calculation of IRR..........................................................................................................22
ILLUSTRATION INDEX
Illustration 1: People response on sale of products by Tesco at cheaper price.............................12
Illustration 2: People response of price policy that is adopted by Tesco......................................13

Illustration 3: People response on future competitive scenario for Tesco ....................................14
Illustration 4: Respondents experience at Tesco...........................................................................15
Illustration 5: Column chart trend line..........................................................................................16
Illustration 6: Scatter diagram trend line.......................................................................................16
Illustration 7: GANTT chart..........................................................................................................21
Illustration 8: Network diagram....................................................................................................21

INTRODUCTION
Business statistics is one of the wide discipline which is used to conduct research and
analyzing a data. In this report research is conducted and in this regard primary and secondary
data is collected. Collected data is analyzed by using statistical tools like mean, median and
mode etc. Along with this, correlation and standard deviation is also applied on the firm cash
flows. In the middle part of the report, charting of primary data is done and its results are
interpreted. At end of the report, project evaluation methods are used to access viability of the
project. Along with this, network diagram is prepared and sequence in which project must be
performed is determined.
TASK 1
1.1 Sources of information for conducting a research
Research refers to the process of collecting and analyzing a data. In this regard various
tools and techniques are used by the researchers. In the research mainly primary and secondary
data is collected by the researcher. Most often question arises that if researcher wants to conduct
research on current situation then why he needed secondary data ?. As it is well known fact that
secondary data is related to past. In order to conduct research it is inevitable to collect both sort
of data whether it is primary or secondary data (Huber, 2011). In order to make best use of both
types of data in the research it is very important to understand them. Primary data is one which is
newly gathered by individual from different people by using different methods like distribution
of questionnaire and observing sample units acts and behavior. On other hand, there is a
secondary data that is already collected by individual from different sources of information and
printed in books and journals. It is very important to collect both data because research is carried
out in one single direction. Hence, data must be collected in same direction in which one wants
to conduct a research. There are various aspects that are related to the research topic and for
individual it is very difficult to determine that on which aspect he must carry out the research. In
order to solve this problem one collect secondary data (Berenson and Krehbiel, 2012). This can
be collected from books, journals and magazines. By collecting and analyzing entire collected
secondary data one comes to know about past things that happen in relevance to the research
topic and things that are currently happening in surrounding environment. This help researcher
in determining the direction in which he require to carry out his research work. Due to all these

reasons it is very important to collect secondary data in the research. Along with this it is also
very important to collect primary data because main aim of research is to evaluate current
conditions. Hence, one collect fresh data related to the research topic. In this way it become
necessary for one to collect both sort of data in the research. In present study sample of 60
people will be taken that resides in different borough of London. Questionnaires will distributed
among them. Apart from this secondary data will be collected from books and journals. In this
way entire research will be collected by researcher.
1.2 Sampling methods in the research
Sampling is a method that is adopted to pick up appropriate type of people as sample
from the population. It is necessary to use sampling method for the researcher because research
will produce reliable results only when right type of people are taken as sample units in the
research (Black, 2011). If inappropriate people will be taken as sample in the research then
accurate data will be gathered for the research and false results may be obtained from the
research. Some of the sampling methods that are available to the researchers for conducting a
research are given below. Simple random sampling- This is a one of the most simple technique among all
sampling methods. This concept states that one may take sample units at his own
discretion from the population on random basis. This sampling method is often used in
the research only when topic of same is general and every person have good knowledge
about the research topic. At time of election exit poll is conducted and under this one try
to know that to which political party most of people wants to give a vote (Agresti and
Kateri, 2011). For this research simple random sampling method can be used by the
researcher because every individual have moderate knowledge about the work done by
different political parties in there area. Hence, for such kind of research simple random
sampling method can be used by the researchers. Stratified random sampling- This is another commonly used but technical method in
comparison to other sampling methods. Under this method entire population is classified
in to three or more parts on the basis of factors like education, ethic, salary and race etc.
If one wants to conduct research on mentality of people on the specific issue like child
labor then it will be better to use stratified random sampling method. This is because in

this research data need to be collected from two group one is middle class and other is
low class people. By collecting data from them research can be conducted in better way.
The main aim of this research is understand consumer behavior of the people. Hence, in
this stratified random sampling method will be used by the researcher.
 Cluster sampling- This is one of the unique and simple method to conduct a research and
under this specific geographic area is divided in to various pieces and data is collected
from people living in these areas (Gibbons, and Chakraborti, 2011). Hence, it can be said
that this sampling method is commonly used by the researcher in there practice.
1.3 Questionnaire for research
Name : ____________
Age : ____________
Marital status
 Married
 Unmarried
 Transgender
Do you visit Tesco retail stores ?
 Yes
 No
How many times in a month you visit Tesco retail store in a month ?
 1 times
 2 times
 3 times
 4 times
How was your experience in Tesco retail store ?
 Good
 Somewhat good
 Worst