Understanding and Managing Data APR22 Intake

Understanding and
Managing Data APR22
Intake

Table of Contents
MAIN BODY...................................................................................................................................4
TASK 1............................................................................................................................................4
Standard Deviation.................................................................................................................4
Coefficient of variance...........................................................................................................4
Interquartile Range.................................................................................................................4
Interpretation of the Standard Deviation................................................................................4
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.....................................5
Interpretation of the median expenditure...............................................................................6
TASK 3............................................................................................................................................6
Differences between cross section data and time series data.................................................6
Data type should be collected to gain insights into the demographic profile and lifestyle
preferences of its consumer....................................................................................................6
TASK 4............................................................................................................................................7
Build a network diagram to show forward and backward movements..................................7
The critical path and project time period of project...............................................................8
Comment on the difference between critical activity and non-critical activity......................8
TASK 5............................................................................................................................................8
Correlation matrix..................................................................................................................8
Identify best predictor of Job Separation*(Probability).........................................................9
Interpretation of coefficient of correlation.............................................................................9
Interpretation of coefficient of determination........................................................................9
TASK 6............................................................................................................................................9
PART 2............................................................................................................................................9
Variable cost per T-shirt.........................................................................................................9

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