Business Decision Making and Critical Path Analysis
Added on 2020-10-22
16 Pages3686 Words298 Views
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BUSINESSDECISION MAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1(a) Framing spreadsheet for descriptive statistics.......................................................................1Presenting histograms of distribution of age and spend with median income interquartilerange............................................................................................................................................2Interquartile range of annual income..........................................................................................3(b) Preparing short presentation on basis of its findings.............................................................3TASK 2............................................................................................................................................5(a) Formal plan for conducting robust sample of various potential customers in new targetmarket..........................................................................................................................................5(b) Secondary sources.................................................................................................................5(c) Survey Methodology and sampling Frame............................................................................6(d) Questionnaire.........................................................................................................................6TASK 3............................................................................................................................................7(a) Analysis of payback Period...................................................................................................8(b) Analysis of net present value.................................................................................................9(c) Decision based on financial criteria.....................................................................................11(d) Presenting Gantt chart along with critical pathway for setting processes could be deliveredon time.......................................................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15
INTRODUCTIONDecision making is an important concept of every business whether it is manufacturing,service or any industry. The organization which is leading in this present era has effectivelytaken decision in context of business. This report is based on Hayward Home style which makesbespoke kitchen in USA for its customers. The present report is creating ability for using varioussources of gathering data from both primary and secondary sources as well. There isrepresentation of sampling frame and survey methodology which has been adopted along withquestionnaire. Further, various range of techniques for analysing and interpreting data in aneffective manner for purpose of business will be understood. In the same series, data has beensummarised by using descriptive statistics. There is presentation of information which has beengenerated in a proper format for organizational context in decision making as well.TASK 1(a) Framing spreadsheet for descriptive statisticsCustomer IDAgeSpend ($)Annual Income($)GenderA17160212500FB22269115900MC29145637000MD19253027500FE2589731000MF169812000FG29175341000MH20236516250MI33211832000MJ2182517500FK29181734000FL35153848000FM18143515000MN1637600FO26189228500MP41153956000FQ28158237500FR31125837550MS25284631000FT27198333500MU22107327000MV28159438550FW2468223000M1
X22100521500MY35139646500FZ27217333525FCustomer IDAgeSpend ($)Annual Income ($)Mean25.571545.57standard deviation6.33707.04Median31000Correlation coefficientof income and spending0.29Presenting histograms of distribution of age and spend with median income interquartile rangeAgeBinFrequency162215267318363More115/01/190020/01/190025/01/190030/01/190004/02/1900More048HistogramColumn JBinFrequencySpendingBinFrequency3712
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