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Business Decision Making - Manipulating and Understanding Data

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Essay title: Business Decision Making - Manipulating and Understanding Data

MANIPULATING AND UNDERSTANDING DATA.

Assessment

Q1 Bergwear Ltd

Cost of production(x) No.of products((f) (fx) (cf) (%cf)

1 4 4 4 6.70%

2 12 24 16 26.70%

3 22 66 38 63.20%

4 15 60 53 88.30%

5 7 35 60 100.00%

60 189

_

X =УFX

УF

189/60 = 3.15

Mean =3.15

Q2. Mode

=3, which is the most frequently occurring value.

Median- In order to do median we would draw a graph and will be a graph for % accumulative frequency. And from the graph we look at the 50% on the Y axis.

Which bring 2.6 Median value.

The number that occurs frequently is 3 and is a mode according to the data while median is the point where we get 50% in a graph.

Q3

Cost of production No. Of products Cf %Cf

1 4 4 6.45%

2 12 16 25.81%

3 22 38 61.29%

4 15 53 85.48%

5 7 60 96.77%

8 2 62 100%

_

X =УFX

УF

_

X=205/62=3.30

_

X=3.30

From the graph the median=2.7 value. Mode=3.

Because of the production cost increases, the mean will increase according to data and the graph data shows the value is 2.7. Mode will remain the same.

Q2.Compiquant Plc

Region SE SW WM NW WALES EM NE SCOT

1000+ 11400+ 11500+ 1200+ 12500+ 1300+ 13600+ 20000

8

Mean=13,000

Range is the difference between biggest and the smallest figure, which is

20000-10000= 10,000

Range = 10,000

Median 125,000

DATA COLLECTION, ANALYSIS AND PRESENTATION

Q1

From the histogram the mode is about age 27.

From the histogram it shows many football spectators are in age group of 20-29 years and more that means most football spectators are age over 20 years old.

Q2

Market segmentation.

Market segmentation is the process in marketing of grouping a market into smaller subgroups. This is not something that is arbitrarily imposed on society: it is derived from the recognition that the total market is often made up of submarkets. These segments are homogeneous within (i.e. people in the segment are similar to each other in their attitudes about certain variables ). Because of this intra-group similarity, they are likely to respond somewhat similarly to a given marketing strategy. That is, they are likely to have similar feeling and ideas about a marketing mix comprised of a given product or service, sold at a given price, distributed in a certain way, and promoted in a certain way.

The purpose for segmenting a market is to allow your marketing/sales program

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