Task 1:Ungrouped Descriptive Statistics [10 marks]

To gain some insights into the typical price consumers are willing to pay for a stand mixer, a retailer of kitchen

appliances randomly selected 130 relevant invoices for transactions completed in October 2021. Descriptive

statistics, computed to summarise the data, are presented in Table 1 below. NB: Some values are missing. This

table has been made available in the Excel file named“MN4063QAJULY22CWK1Data” under the tabTask 1.

Required for Task 1 (50 words Max)

With reference to Table 1 in the excel file named “MN4063QAJULY22CWK1Data”, copy and fill the table

with the missing values that you are required to calculate below:

a. Ca lculate the standard deviation. (Use calculator and show all the working out). [2marks]

b. Ca lculate the coefficient of variation. (Use calculator and show all the working out).

[2marks]

c. Calculate the Upper quartile (Q3) (Use the data in the excel file provided.[2marks]

d. Interpret the Standard deviation in the context of the scenario provided. [2marks]

e. Interpret the Interquartile range in the context of the scenario provided. [2marks]

(NB: You should not describe calculationmethods).
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Task 2: Grouped Descriptive Statistics [20marks]

It was suggested to the retailer that the 130 transaction values could also be summarised in a grouped table (see

Table 2 below). Table 2 have been made available in the Excel file named “MN4063QA JULY22CWK1

Data” under the tab named Task 2.

Required for Task2 (50 words Max)

a. Using the two table templates provided in the Excel data file named “MN4063QAJULY22CWK1Data”

under the tab labelled Task 2:

• Complete table 2 to estimate the mean and standard deviation and to show the percentage

frequencies, cumulative frequencies and cumulative percentage frequencies.[12marks]

(Copy the Excel output (2 tables) and paste it intoyour Worddocument)

b. Using table 2 estimate the median expenditure of the consumers by interpolation method [5marks]

c. Interpret the median expenditure value of the consumers[3marks]

Task 3:Data Types [8 marks]

To better understand its target consumers and strengthen its position in the market, the kitchen appliances

retailer seeks to survey its customers to gain insights into key consumer characteristics, such as demographic

profiles and lifestyle preferences. However, before outsourcing the data collection fieldwork, the retailer seeks

clarification on data types, as outlinedin the requirements below.

Required for Task3 (100 words Max)

a. With reference to examples relevant to the retailer’s information needs, discuss the differences between

cross-sectionaldata andtime series data. [3marks]

b. State whether cross-sectional data,time series data or both types of data should be collected to gain

insights into the demographic profile and lifestyle preferences of its customers.[5mark]

Task 4:Networking [12 marks]

The retailer has seen a shift in the way in which consumers purchase items, such as kitchen appliances. Online

retailing now accounts for over 80% of their sales and, to reflect this change, the retailer has decided to convert

some of its retail space into warehouse space. This conversion project consists of 10 activities. For example,

Activity C takes 3 weeks to complete and can only be started after Activity A has been completed. Information

on the 10 activities is outlined in Table 3 below.

Required for Task 4 (50 words Max)

With reference to the precedence table above, construct a network diagram by going through the:

a.Forward. [5marks]

b.backward. [5marks]

c.Identify the critical path and duration of the project.[1mark]

d.Comment on the difference between critical activities and non-critical activities.[1mark]

Task 5:Relationships [14 marks]

To allocate resources effectively, the retailer wants to better understand the reason why may increase or

decrease. To this end, refer to the data provided Under the tab named “Task 5” in the

“MN4063QAJULY22CWK1Data” Excelfile.

Required for Task5 (150 words Max)

a. Construct a correlation matrix in Excel to show the correlation coefficients between Sales Revenue, Total

Costs, Average Order and Gross Profit. Copy and paste the correlation matrix into your Word file.

[2marks]

b. With reference to the correlation matrix, identify the ‘best’ predictor of Sales Revenue and justify the

reason for your choice. [1marks]

c. Create a scatter graph, plotting Sales Revenue against the ‘best’ predictor selected under point 2 above. The

trend, regression equation and coefficient of determination should be shown on the graph. Copy the

correctly labelled graph, with the correct units of measurement, into your Word file.[5marks]

d. Interpret the correlation in context. [1mark]

e. Interpret the coefficient of determination in context.[2mark]

f. State the regression equation in context. [1mark]

g. Interpret the values of the intercept in context. [1mark]

h. Interpret the value of the gradient in context. [1mark]

Task 6 [6 marks]

This task requires reflection to provide insights into the process and quality of personal learning. Your reflection

should focus on your actions, motivations and emotions and should analyse what changes will be made to

practice in light of experiences, feedback and reflection. A good reflection will help you understand what, why

and how you learn.

NB: You should not comment on the theories of reflection. You should also not evaluate teaching or the module for

this exercise.

Required for Task6 (150 words Max)

• What do you think you did particularly well in this assignment?[2marks]

• What was the most challenging aspect of this coursework and why was this the case? [2marks]

• What would you do differently next time? [2marks]

PART 2 [30marks]

Breakeven Analysis

NIKEL Ltd. manufactures t-shirts, which sell at £25 each. Table 5 shows the sales(units) and total costs (£)for the

period July 2021 to December 2021. Fixed costs have been the same each month and it is expected to remain

constant for the remainder of the financial year (up to and including March2022).

Required for this part (400 words Max)

With reference to Table aboveand usingthe high-lowmethod:

- Estimate the variable cost pert-shirt produced and sold. Show your calculations. [5marks]
- Using the information in (1) above estimate the fixed cost. Show your calculations. [5marks]
- Using the information in (1) and(2) above, how many t-shirts should NIKEL Ltd. produce and sell in January

2022 to break even? Show your calculations.[5marks] - How many t-shirts does the company need to produce and sell to achieve a profit target of £200,000 in

January 2022?Showyour calculations. [5marks] - Calculate the margin of safety for January 2022, assuming the profit target for that month has been achieved?

Show your calculations. [5marks] - Advise the sales manager of NIKEL Ltd on the following:

a. Why the use of High – Low is appropriate for finding the variable cost in this situation [1marks]

b. Interpret the margin of safety forJanuary2021[2marks]

c. The importance of break-even analysis [2marks]