Higher Nationals

Assignment Brief – BTEC (RQF)

Higher National Diploma in Business Administration RQF International

Student Name /ID Number

Unit Number and Title Unite 31 Statistics for Management

Academic Year 2020-2021 Term 1

Unit Assessor Mr. Samer SHEIKH HAMDO

Assignment Title The Role of Statistics in Evaluating Business and Economic Data

Issue Date 02/11/2020

Submission Date 30/11/2020

IV Name Mr. Houssam Yehya

Date

Submission Format:

 The report should be written in a concise, formal business style,

 Use single spacing and font size 12,
 Make use of headings, paragraphs and subsections as appropriate,
 Support your work with appropriate arguments and information from academic and
business literature,
 Use the Harvard referencing system and provide a bibliography of the sources you used,
 The recommended word limit is 1,000–1,500 words, although you will not be penalised for
exceeding the total word limit.

Unit Learning Outcomes:

 LO1 Evaluate business and economic data/information obtained from published sources
 LO2 Analyse and evaluate raw business data using a number of statistical methods

Assignment Brief and Guidance:

In order to open a new plant to expand foreign direct investment, the board of directors in Renault
Corporation require a feasibility report to justify the decision. The senior managers need to predict the
demand level on Renault cars in the next few years so they can determine the optimal capacity of the
new plant. They asked their colleagues in Evaluating and Monitoring department to collect relevant
business and economic data.
Employees in Evaluating and Monitoring department collected the following data about National
Economy in Turkey : GDP Per Capita Current $ (annual), Population Growth Rate % (annual), Cars’
Sales (annual) (data are available in National Economy Data Excel sheet).

In order to get more sufficient data, Marketing-Research department prepared a questionnaire in which
they asked the individuals the following closed- ended questions:
1- What is you preferred car?
2- Your preferred car’s price compared to other brands is: very expensive, expensive, neither expensive
nor cheap, cheap, or very cheap?
3- Your preferred car’s price compared to the brands quality is very high, high, reasonable, low, or very
low
4- What is your current disposable income?
5- What is your neighborhood?
6- What is your educational qualification? (data collected are available in Questionnaire data Excel
sheet)

Furthermore, the financial and operations managers in one of the existing Renault cars’ accessories
stores located in Zeytinburnu want to predict the money amount that every customer spends per
shopping trip. The Monitoring & Evaluating department have reviewed historical data and considered
standard deviation of population as known at the value of 400 Turkish Lira. The financial manager asked
the Monitoring & Evaluating department to collect a random sample of 100 customers’ expenditure
spent per shopping trip.

As a business and economic data analyst in Renault corporation, you have been asked to produce a
report about business and economic data evaluation where you should critically evaluate the differences
in application between descriptive, confirmatory, and exploratory analysis methods by:

1. Providing a critical evaluation of different business data/ information through applying different
data analysis methods considering data types, sources and sufficiency, the importance of
converting data into information, and the significance of different data analysis methods to
investigate the relationships between different dataset variables to help Renault corporation
determine the expected demand level.

2. Analyzing and evaluating Renault cars’ sales data in Mersin and Bursa considering:
a) Applying descriptive data analysis for each of them. And show how you can use the results of
analyzing these two data series to determine the city where the sales were more stable.
 b) Evaluating the feasibility of calculating measures of central tendency and measures of variability
for the questionnaire and sales data to generate useful information that can help the managers
understand the market conditions and make the right decisions.

3. Evaluating the differences in application between inferential statistics and measuring associations
considering:
a) Application of inferential statistics (sampling) to suggest an interval that can contain the mean of
customers’ money amount spent per shopping trip in Renault car accessories store during the next two
months according to the data available in the random sample (data are available in “Customers'
Purchases Sample” sheet of Excel file) at significance level of 5% .
b) Applications of measuring association between each of the two cost items and sales amounts in
Mersin branch at the significance level of 5%. (data are available in Sales Training & Advertising
Data sheet of the Excel file).

Learning Outcomes and Assessment Criteria

Learning Outcome Pass Merit Distinction

LO1 Evaluate business P1 Evaluate the nature M1 Critically evaluate the

and economic and process of business
data/information and economic
obtained from data/information from a
published sources range of different published
sources.
P2 Evaluate data from a
variety of sources using
different methods of
analysis.
LO2 Analyse and P3 Analyse and evaluate
evaluate raw business qualitative and
data using a number of quantitative raw business
statistical methods data from a range of
examples using
appropriate statistical
methods.
methods of analysis used
to present business and
economic
data/information from a
range of different LO1 & 2
D1 Critically evaluate
published sources.
the differences in
application between
methods of
descriptive,
exploratory and
M2 Evaluate the confirmatory analysis
differences in application of business and
between descriptive economic data.
statistics, inferential
statistics and measuring
association.