MN4063QA APR22 Coursework 1 - Desklib

MN4063QA APR22 Coursework 1 covers topics like Standard Deviation, Correlation Matrix, Break-even Point, and more. The coursework includes tasks like constructing network diagrams, calculating break-even points, and analyzing cross-sectional and time-series data. The coursework is relevant to the MN4063QA course and is suitable for students pursuing business and management courses. Get solved assignments, essays, dissertations, and study material at Desklib.

MN4063QA APR22
Coursework 1

Table of Contents
MAIN BODY...................................................................................................................................4
TASK 1............................................................................................................................................4
Standard Deviation.................................................................................................................4
Coefficient of variance...........................................................................................................4
Interquartile Range.................................................................................................................4
Explanation of the Standard Deviation...................................................................................5
Interpretation of the Interquartile Range................................................................................5
TASK 2............................................................................................................................................5
Completed table 1 to show the percentage frequencies, cumulative frequencies and cumulative
percentage frequencies...........................................................................................................5
Completed table 2...................................................................................................................5
The median expenditure of the consumers by interpolation method.....................................6
Explanation of the median expenditure..................................................................................6
TASK 3............................................................................................................................................6
Differences between cross section data and time series data.................................................6
Discuss which information type should be used for gaining insights into the lifestyle and
demographic for its clients.....................................................................................................7
TASK 4............................................................................................................................................7
Construct the network diagram for the forward and backward movements..........................7
Identify the critical path of the project...................................................................................9
Critically differentiate between critical and non-critical activities........................................9
TASK 5............................................................................................................................................9
Correlation matrix..................................................................................................................9
Recognise best predictor of Job Separation............................................................................9
Create a scatter graph...........................................................................................................10
Explanation of coefficient of correlation..............................................................................10
Explanation of coefficient of determination.........................................................................10
TASK 6..........................................................................................................................................10
PART 2..........................................................................................................................................10

Variable cost per T-shirt.......................................................................................................10
Monthly fixed cost................................................................................................................11
Break-even point for January 2022......................................................................................11
No. of T-shirts to be sold in order to earn profit of £200,000..............................................12
Margin of Safety for January 2022.......................................................................................12
Advises to the Sales manager of Tvestan Ltd......................................................................13
REFERENCES..............................................................................................................................14

MAIN BODY
TASK 1
Standard Deviation
= (Highest range – Lowest range)/4
= (369-68) 4
=£75.25
Coefficient of variance
= Standard deviation/ mean
= 75.25/224*100
=33.60 %
Interquartile Range
= Upper Quartile - lower quartile
=336-112
=224

Explanation of the Standard Deviation
The standard deviation determines the variation in the information set, and it depicts the
difference between the value of the accessible information index and the average value of the
information index.
Interpretation of the Interquartile Range
The Interquartile range measures the breadth of information dissemination. A higher
quarterly range indicates that the information is far from the average of the information gathering
(Abdulrahman and Adam, 2020).
TASK 2
Completed table 1 to show the percentage frequencies, cumulative frequencies and cumulative
percentage frequencies
Cumulative Frequency: It is the amount of recurrence for each stage. The final
determined sum is the absolute value of the recursion.
Completed table 2

The median expenditure of the consumers by interpolation method
m= n/2
=130/2
=65
The m = 65 comes under the frequency between the interval 200<300 that is 199.5-299.5
= 199.5-65/299.5-199.5
=134.5/100
=1.345
Explanation of the median expenditure
Minimum value spent by the costumer is 1.345.
TASK 3
Differences between cross section data and time series data
Basis Cross section data Times series data
Meaning It takes note of the
arrangement of information
within a specific time frame
and measures the difference in
numbers.
It mainly pays attention to the
information of individual units
within a specific time frame.
Analysis It helps to break down
information with canning
future expectations.
It breaks down information for
a specific time frame.
Example It breaks down the benefits of
organizing a bookkeeping
year.
It respects the organization's
final supply.

Discuss which information type should be used for gaining insights into the lifestyle and
demographic for its clients.
Cross Sectional Data focus on a single moment, time series information from different
people and centred on singletons. For example, determine the age of singles at the time of series
information, while using cross-series to check the birth rate (Alam and et.al, 2022)(Cunha and
et.al., 2022).
TASK 4
Construct the network diagram for the forward and backward movements.

Identify the critical path of the project.
A-C-E-I-J with a duration of 23 weeks.
Critically differentiate between critical and non-critical activities.
Critical activity is the longest time taken to complete the project while on the other hand,
non – critical activity is the remaining activity except the longest path.
TASK 5
Correlation matrix
Job Separation*
(Probability)
Workers'
Age
Gross Hourly
Pay (£)
Commuting
Time (Minutes)
Average
Weekly
Hours of
Work
Job Separation*
(Probability) 1
Workers' Age -0.85093 1
Gross Hourly
Pay (£) -0.78043 0.526156 1
Commuting
Time (Minutes) 0.862105 -0.78255 -0.68247 1
Average Weekly
Hours of Work -0.18034 -0.02955 0.377467 0.017315 1
Recognise best predictor of Job Separation.
According to the relation grid, the occupational division indicator is driving time, which
has a value of 0.86, which is out of the frame. It suggests that it is closely related to job
separation probability

Create a scatter graph.
Explanation of coefficient of correlation
The connection coefficient represents the connection between one variable and another
Explanation of coefficient of determination
It shows the caprices of one element versus another and the way things are affected.
TASK 6
This task helps develop and master scientific abilities. The task has different parts to test
scientific ability as well as the validity of the estimates. It contains monthly fixed costs, variable
expenses, benefit margins, and break-even points. The most difficult aspect of TASK 2 is the
shopper's intermediate consumption, which is estimated using additive techniques. It helps to
additionally focus on the experience of the strategy and understand the results of the technique. I
would like to zero in on the business and money management ideas that help guide the topic
(Ferracci and et.al., 2021).
PART 2
Variable cost per T-shirt
Using the High-Low method, estimated variable cost per T-shirt produced and sold can
be calculated as follows:

= (Highest total cost-Lowest total cost)/(highest total sales unit- Lowest total sales unit)
= (370000-150000)/ (35000-13000)
=220000/22000
=10 per T-shirt.
Monthly fixed cost
Same as above using the High-Low method, fixed cost can be calculated as follows:
=Highest total cost- (variable cost * highest sales units)
=370000 – (10*35000)
=20000.
or it can be also calculated as follows:
=Lowest total cost – (variable cost * lowest sales units)
=150000 – (10*13000)
=£20000.
Break-even point for January 2022
Month
and
Year
Credit
Sales
Total
Revenue
Credit
purchases Wages Manufacturing
expenses
Shop
expenses
Selling
Expenses
Total
Expenses Profit
Mar-
21 700 700 300 400 200 150 154 1204 -504
Apr-
21 800 800 200 450 150 200 164 1164 -364
May-
21 900 900 150 380 250 250 170 1200 -300
Jun-
21 1000 1000 400 370 300 200 180 1450 -450
Jul-21 850 850 350 460 350 190 190 1540 -690
Aug-
21 750 750 250 530 450 175 185 1590 -840
Sep-
21 950 950 550 630 500 180 195 2055 -1105
Oct-
21 1100 1100 650 720 440 130 176 2116 -1016
Nov-
21 1200 1200 750 670 340 145 186 2091 -891
Dec-
21 1300 1300 850 640 290 165 195 2140 -840
Jan-22 1400 1400 950 650 280 170 180 2230 -830
Feb- 1200 1200 840 630 270 175 185 2100 -900

22
Break even sales units can be calculated as by using the formula below:
=Fixed cost / (Sale price per - variable cost)
=20000/ (20-10)
=2000.
No. of T-shirts to be sold in order to earn profit of £200,000
The number of T-shirts should produce and sell by the company to achieve a profit of
£200,000 in January 2022 can be calculated as under:
= (£200,000 + £200,00)/ (20-10)
=22000T-Shirts.
Therefore, Tvestan Ltd should produce and sell 22000 T-Shirts to earn a profit of £200,000 in the
January 2022.
Margin of Safety for January 2022
Margin of Safety for January 2022 can be calculated as under assuming that the profit
target has been achieved by the company:
Margin of Safety in percentage = (sales units for the month – break-even sales units for the
month)/sales units for the month * 100
= (22000-2000)/22000*100
=91%.
It can also be expressed in pound and units as well.
Margin of safety in pound = Total sales in January 2022 – Total Break-even sales in January
2022
=£440000 - £40000
=£400000.
Margin of safety in Units = Sales units in January 2022 – Break-even sales point in January 2022
=22000-2000
=20000 T-shirt.

Advises to the Sales manager of Tvestan Ltd
 The technique followed is to calculate the variable cost and it finds a fitting strategy that
is not quoted as expected in the given situation. In this case, the best strategy is to decide
on different fees for the organization.
 High margin-to-safety ratio for a long period of January 2022 indicates that the
association is gaining a lot on the breakeven point of the organization.
 Break even Analysis is used to know the number of products which are sold to reach a
stage where there is no profit and loss (Goncharov and Prakapenka, 2022).

REFERENCES
Books and Journals
Abdulrahman, F. and Adam, S., 2020, February. The assessment of OPUS-Static in limited
CORS area based on session duration. In 2020 6th International Engineering
Conference “Sustainable Technology and Development"(IEC). (pp. 13-18). IEEE.
Alam, M. and et.al, 2022. Inclusion of Bidirectional Angular Positioning Deviations in the
Kinematic Model of a Six-DOF Articulated Robot for Static Volumetric Error
Compensation. IEEE/ASME Transactions on Mechatronics.
Cunha, V.C. and et.al., 2022, April. Demonstration of Quasi-Static Time-Series Power Flow
Studies for Islanded Three-Phase Microgrids. In 2022 IEEE/PES Transmission and
Distribution Conference and Exposition (T&D). (pp. 1-5). IEEE.
Ferracci, S. and et.al., 2021, October. Static Analysis of PE files Using Neural Network
Techniques for a Pocket Tool. In 2021 International Conference on Electrical,
Computer, Communications and Mechatronics Engineering (ICECCME). (pp. 01-06).
IEEE.
Goncharov, A.F. and Prakapenka, V.B., 2022. Comment on: Evidence and Stability Field of fcc
Superionic Water Ice Using Static Compression. arXiv preprint. arXiv:2205.13360.
Munirathnam, G. and Babu, Y.M.M., 2021, October. Analysis of Static Power Reduction
Strategies in Deep Submicron CMOS Device Technology for Digital Circuits. In 2021
6th International Conference on Signal Processing, Computing and Control
(ISPCC). (pp. 278-282). IEEE.
Sabry, H., 2018, November. Aging lng static equipment life extension-a case study. In Abu
Dhabi International Petroleum Exhibition & Conference. OnePetro.