Data and Information Analysis Homework - Business Development

This assignment solution covers various aspects of data and information management within a business context. Task A addresses the calculation of combinations, explaining why the correct formula is needed and providing the correct calculation. Task B involves analyzing size and unit price data, including calculating sums and interpreting their meaning. Task C delves into demand and supply functions, deriving a quantity demanded function and discussing the concept of equilibrium. Task D presents a contribution constraint problem, determining the maximum profit. Finally, Task E includes financial calculations such as compound interest and mortgage repayments, demonstrating practical applications of data and formulas in business scenarios. The document offers step-by-step solutions and explanations for each task.

Using and managing data and
information

Table of Contents
Task A..............................................................................................................................................3
1. Why need number of combinations.........................................................................................3
2. Reason behind wrong calculation............................................................................................3
3. Suggested correct formula.......................................................................................................3
Task B..............................................................................................................................................3
1...................................................................................................................................................4
2...................................................................................................................................................4
3...................................................................................................................................................4
4...................................................................................................................................................4
Task C..............................................................................................................................................4
1. Quantity demanded..................................................................................................................4
2. Supply function........................................................................................................................4
Task D..............................................................................................................................................5
Task E..............................................................................................................................................5
1...................................................................................................................................................5
2...................................................................................................................................................6
3...................................................................................................................................................6

Task A
1. Why need number of combinations
She needs to find the number of combinations in this case because she wants to know number of
possible ways a group of 5 can be formed out of 20 staff members.
2. Reason behind wrong calculation
The result of this calculation is wrong because it is the case of combination and the above
calculation is based on permutation problem. The difference between both methods is the
sequence of arrangement. As in this case, sequence group members doesn’t matter; so
combination method is suitable here.
3. Suggested correct formula
Suggested calculation for combination would be:
20 !
5! (20−5 ) !
Number of possible combination = 15,504 combinations.
Thus group of 5 staff out of 20 can be arranged in 15,504 ways without any sequence.
Task B
Size
s
Dimension
(x) x2
Unit price
(y) xy
1 3 9 0.7 2.1
2 5 25 0.9 4.5
3 6 36 1 6
4 8 64 1.2 9.6
5 9 81 1.5 13.5
6 10 100 1.8 18
7 12 144 2 24
459 77.7

1.
Quantity ∑ 𝑥2 = 459
2.
Quantity ∑ 𝑥2 means sum of sizes of 7 tiles. As x2 reflects complete size of single tile which is
based on formula of side square.
3.
Quantity ∑ 𝑥𝑦 = 77.7
4.
Quantity ∑ 𝑥𝑦 means sum of the total price of single sides of all tiles.
Task C
1. Quantity demanded
P = aQ + b
Putting the value of p and Q from the equation we get:
60 = a30 + b
Thus, both value balanced at a =2; b = 0.
Based on above finding, total demanded quantity at market price of £40 will be:
40 = 2Q + 0
Q = 40/2 = 20
2. Supply function
The name of the point A is Equilibrium where price of both demand and supply are equal.
Task D

A B P
20 40
Contribution 2 2 120
Constraint 1 3 6 300 300
Constraint 2 4 2 160 160
2A + 2B = 120
Where A = 20; B = 40
The maximum profit possible to be earned by the firm = £120
Task E
1.
Amount of money accrued = P ( 1+ R
100 )
n
P = saving amount
R = annual rate of interest

N = time duration
Putting the values into formula:
= £20,000 ( 1+ 2
100 )
5
= £20,000{(1.02)(1.02)(1.02) )(1.02)(1.02)}
= £22,081.61
Thus, amount of money accrued in 5 years is £22,081.61.
2.
Repayments =
Mortgage
( 1+r ) n−1
r ( 1+r ) n
Repayments =
£ 200,000
( 1+ 0.036 ) 25−1
0.036 ( 1+0.036 ) 25
= £ 200,000
16.304
Repayments at the end of each year = £12,266.87
3.
The present value of Clementina orange ceramic vase consists of 75% of original price. Thus, the
original price before the sale = £16.50 × 100
75
= £22