Applied Management Statistics

BCO127 APPLIED MANAGEMENT STATISTICS Midterm Task brief & rubrics

Task Instructions

• The task should be done individually.

• The task should be submitted in pdf format and the excel outputs should be in the Appendix.

• All the figures and tables in the reports should be organized in Excel and should have a proper title and a number.

• You should choose the appropriate statistical method to answer each task problem.

• The interpretations of each analysis, table and figure should be written detailly.

• The word count should not exceed 1500 words.

The data set is a survey of restaurants in Wisconsin, Canada and includes 13 variables defined as follows:

Variable Label

Outlook Business Outlook (1: Hopeless, 2: Very poor, 3: Poor, 4: Good, 5: Very good, 6: Excellent)

Sales Gross Sales (1000 pounds)

Newcap New capital invested (1000 pounds)

Value Estimated market value of business (1000 pounds)

Costgood Cost of goods sold as % of sales

Wages Wages as % of sales

Advert Advertising as % of sales

Type Type of Outlet (1: Take away, 2: Cafe, 3: Restaurant)

Owner Type of ownership (1: Sale owner, 2: Partnership, 3: Company)

Full Number of full-time employees

Part Number of part-time employees

Size Size of establishment in FTE equivalent

Task Brief:

1) Compare the three types of food outlet: restaurants, cafes and takeaways in terms of

- the percentage of each type of outlet,

- their business outlook

- the types of ownership

by using proper graphical representation.

2) Compare the average gross sales and the estimated market value of each type of outlet. Organize a descriptive table to show mean, standard

deviation, minimum, maximum and interquartile range of gross sales and estimated market value for each food outlet and interpret the results.

3) Analyze the distribution of following variables by using a histogram and interpret it.

- Wages as % of sales for all outlets together; wages as % of sales for each type of outlet - Advertising as % of sales for all outlets together; advertising as % of sales for each type of outlet

4) Find the Pearson’s correlation coefficient between the gross sales and other continuous variables. For the most significant association found, draw the scatter plot, interpret the finding.

Formalities:

• Wordcount: Between 1000-1500 words

• Cover, Table of Contents, References and Appendix are excluded of the total wordcount.

• Font: Arial 12,5 pts.

• Text alignment: Justified.

• The in-text References and the Bibliography have to be in Harvard’s citation style.

Submission: Week 7 – Via Moodle (Turnitin). Until 14th March 2021 at 23:59pm.

Weight: This task is a 40% of your total grade for this subject.

It assesses the following learning outcomes:

• Outcome 1: Choosing proper graph(s) to visualize data according to its structure.

• Outcome 2: Exploratory data analysis by using descriptive statistics and tables.

• Outcome 3: Interpretation of the important information hidden in the data.

• Outcome 4: When to use which descriptive measures.

Rubrics.

Exceptional 90-100 Good 80-89 Fair 70-79 Marginal fail 60-69

Knowledge & Understanding

(20%)

Student demonstrates excellent understanding of key concepts and uses vocabulary in an entirely appropriate manner.

Student demonstrates good understanding of the task and mentions some relevant concepts and demonstrates use of the relevant vocabulary.

Student understands the task and provides minimum theory and/or some use of vocabulary.

Student understands the task and attempts to answer the question but does not mention key concepts or uses minimum amount of relevant vocabulary.

Application (30%) Student applies fully relevant knowledge from the topics delivered in class.

Student applies mostly relevant knowledge from the topics delivered in class.

Student applies some relevant knowledge from the topics delivered in class. Misunderstanding may be evident.

Student applies little relevant knowledge from the topics delivered in class. Misunderstands are evident.

Critical Thinking (30%)

Student critically assesses in excellent ways, drawing outstanding conclusions from relevant authors.

Student critically assesses in good ways, drawing conclusions from relevant authors and references.

Student provides some insights but stays on the surface of the topic. References may not be relevant.

Student makes little or none critical thinking insights, does not quote appropriate authors, and does not provide valid sources.

Communication (20%)

Student communicates their ideas extremely clearly and concisely, respecting word count, grammar and spellcheck

Student communicates their ideas clearly and concisely, respecting word count, grammar and spellcheck

Student communicates their ideas with some clarity and concision. It may be slightly over or under the wordcount limit. Some misspelling errors may be evident.

Student communicates their ideas in a somewhat unclear and unconcise way. Does not reach or does exceed wordcount excessively and misspelling errors are evident.