Methods for Business Decision Making

Methods for Business Decision
Making
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Answer 1
(a) A Clustered Bar chart in Figure 1 represents export markets for Australia (Fisher,
Drucker, and König, 2012, pp.55-62). It also compares the export figures (AUS $ Billion)
of 2004-05 with 2014-15. A stark increase in sales with China and Japan in terms of
volume can be noted. Increase in export with other countries also raised
simultaneously. Exports to United Kingdom have reduced in 2014-15 compared to
2004-05.
China
Japan
United States
Republic of Korea
India
New Zealand
Singapore
United Kingdom
0
10
20
30
40
50
60
70
80
90
100
Export Markets for Goods and Services for Australia
Exports (AUS $ Billion)
Figure 1: Export Markets for Goods and Services for Australia in 2004-05 and 2014-15
(b) For a second time, a Clustered Bar chart in Figure 2 represents Percentage of
Australian Exports by Country of Destination in 2004-05 and 2014-15. Comparative
analysis between the percentage export figures (AUS $ Billion) of 2004-05 with 2014-
15 indicates a stark increase in percentage sales with China. The percentage growth
with China is noted to have reduced the percentage growth with other countries.
United Kingdom was also no exception.
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China
Japan
United States
Republic of Korea
India
New Zealand
Singapore
United Kingdom
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
Percentage of Australian Exports by Country of Destination
Percentage
Figure 2: Percentage of Australian Exports by Country of Destination in 2004-05 and 2014-15
(c) Comments: Volume of export to all countries has increased, except export to United
Kingdom. Export volume to UK has decreased in 2014-15 compared to 2004-05.
Country wise distribution of percentage export reveals the actual picture of relative
increase in export to the countries. Overall export volume increased in 2014-15
compared to 2004-05, and therefore, export volumes to the countries increased in 2014-
15. But in reality the percentage growth in export decreased due to massive increase in
exports with China. Probable reason could have been the rapid growth in export to
China has reduced the margin of growth to other countries.
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a. The frequency distribution and relative frequency distribution of Umbrella Sales
have been included in Table 1 and Table 2. Class limits also have been included in
the tables.
Table 1: Frequency distribution of Umbrella Sales
Table 2: Relative Frequency distribution of Umbrella Sales
b. The cumulative frequency distribution and cumulative relative frequency distribution of
Umbrella Sales have been included in Table 3 and Table 4.
Table 3: Cumulative Frequency distribution of Umbrella Sales
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