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.IntroductionAssessment Title:Data Management The aim of this unit is to provide students with an understanding of how management information and decision-making are enhanced by the application of...

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.IntroductionAssessment Title:Data Management The aim of this unit is to provide students with an understanding of how management information and decision-making are enhanced by the application of statistical methods. Students will learn about a range of statistical techniques and how they can inform management thinking. While studying the unit they will develop their numerical abilities and increase their confidence in handling data in order to create information and knowledge.Learning Outcomes (LO)By the end of this unit a student will be able to:LO1: Evaluate business and economic data/information obtained from published sources. LO2: Analyse and evaluate raw business data using a number of statistical methods.LO3: Apply statistical methods in business planning.LO4: Communicate findings using appropriate charts/tables. BTEC HND in Business/Unit31: Statistics for Management/April 2020Page 1
Written Report:LONDON CHURCHILL COLLEGE Submission FormatThe submission is in the form of an individual written report. This should be written in a concise, formal business style using single spacing and font size 12. You are required to make use of headings, paragraphs and subsections as appropriate and all work must be supported with research and referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. The recommended word limit is 3,000–3,500 words, although you will not be penalised for exceeding the total word limit. Specification of AssessmentTask1 (LO1 & LO2):Scenario:You are working as a Business Data Analyst for a global organisation based in the UK. You have been tasked with providing a report on the value and importance of statistical management. The report should cover the following: An introduction to statistics, e.g. what they are, what are the key characteristics and what are the benefits of statistical data for meeting business objectives. The sources and types of data and information businesses can access. The value of employing statistical methods when meeting business objectives andachieving competitive advantage. An analysis of deductive and inductive approaches and what the implications are forbusiness intelligence. Provide examples of analysis of given sample sets of data that could be used by theorganisation. Evaluate the suitability of one type of data analysis vs another. BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 2
LONDON CHURCHILL COLLEGEIn the above scenario, following assessment criteria will be covered: Evaluate the nature and process of business and economic data/information from a range of different published sources. [Learner needs to introduce the concept of statistics, with characteristics and benefits of statistical data for meeting business objectives. Learner also needs to evaluate the statistical component and numerical measurement to process the business and economic data.] Evaluate data from a variety of sources using different methods of analysis. [Learner needs to evaluate data from a variety of sources using different methods of analysis, learner may describe the data analysis approach has undertaken to find out the appropriateness of different data analysis method (Define the deductive and inductive approach with example). Learner also needs to define the exploratory and confirmatory analysis. Learners should define, what statistical method use for exploratory and confirmatory analysis; such as descriptive statistics, inferential statistics.] Analyse and evaluate qualitative and quantitative raw business data from a range of examples using appropriate statistical methods. [Learner needs to define statistical methods that are used to analyse and evaluate data for example differences between qualitative and quantitative raw data analysis, measures of central tendency and variability (e.g. mean, median, range, standard deviation). Application to business data finding should include average earnings, measuring variability in business processes such as queuing times and customer arrival rates.]For above assessment criteria learners can use the following case 1 and case 2:Case 1:This is reported what business travelers pay for hotel rooms per night in major U.K. cities. The average hotel room rates for 20 cities are as follows: City London EdinburghManchester BirminghamAverage Rate (£)/night XXXXXXXXXXBTEC HND in Business/Unit31: Statistics for Management/April 2020Page 3
LONDON CHURCHILL COLLEGE Glasgow LiverpoolBristol Glasgow Leeds Nottingham Newcastle Brighton Cardiff Sheffield Cambridge Southampton Belfast Leicester Yorka. What is the b. What is the c. What is the d. What is the e. What is the Case 2: XXXXXXXXXX XXXXXXXXXX XXXXXXXXXX XXXXXXXXXX155mean hotel room rate? median hotel room rate?mode?first quartile? third quartile? XXXXXXXXXXA manger wants to see if geographical region is associated with ownership of a Macintosh computer. The manager surveys 100 people and the data break down as follows:Mac No MacNorth East 12 14 South West 21 18 Midland 17 18 Column Total 50 50Row total XXXXXXXXXX100Run the chi-square test is used to determine whether an association (or relationship) between 2 categorical variables in the population.Task 02(LO3 & LO4): BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 4
LONDON CHURCHILL COLLEGEScenario:In your position as a Business Data Analyst for the organization (same organization from scenario 1) of your choice you are producing analysis of raw data and communicating findings appropriately. Evaluate the differences between descriptive and inferential data. Using sets of given data, you are to calculate a range of descriptive and inferential statistics.Applying and justifying the use of different methods, e.g. T-Test, ANOVA testing, chi–squaretesting. Present your findings in the appropriate format using a range of graphs and charts tocommunicate data analysis.You must add the relevant calculations with your submission.In the above scenario, the following assessment criteria is covered: Apply a range of statistical methods used in business planning for quality, inventory andcapacity management. [In this part learners need to explore and define the use of statistical process control and appropriate techniques in application to operations, e.g. inventory, flow time, quality, capacity. Learner should present the validity of statistical process control. Learner is also asked to produce a flow chart that plots the measures of variability and probability for the supply chain management of your organisation’s products/services.] Using appropriate charts/tables communicate findings for a number of given variables. [Present your findings in the appropriate format using a range of graphs and charts to communicate data analysis). You also can use the following case 1, 2 & 3 to produce appropriate charts to communicate findings appropriately. Discussdifferent variables: Choosing the most effective way of communicating the results of your analysis and variables. Nominal, ordinal and interval/ratio levels. BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 5
LONDON CHURCHILL COLLEGEDifferent types of charts/tables and diagrams: The use of frequency tables, simple tables, pie charts, histograms, frequency curves and normal curve. Advantages and disadvantages of different types of methods. Presentation of information using tables and charts. Software for producing charts/tables (e.g. Excel).]Case 3:Use the following sample data set to apply statistical method and state the final assessment:In plant one it takes each 2 hours a sample from a production process. Each sample consists of 3 measurement of pressure in psi (pounds per square inch). The results are reported in the table below.8.00 a.m XXXXXXXXXXa.m XXXXXXXXXXa.m. 2.00 p.m. 4.00 p.m XXXXXXXXXXp.m. 8.00 p.m XXXXXXXXXX XXXXXXXXXX XXXXXXXXXX 72 46Assessment Methods XXXXXXXXXXAssignment Title Assessment Method Criteria Covered Final Submission Dates Task 1: Data Analysis & Reporting (LO1 & LO2) Report LO1 & LO XXXXXXXXXXTask 2: Data Insight (LO3 & LO4) Report LO3 & LO4 BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 6
LONDON CHURCHILL COLLEGE Learning Outcomes and Assessment Criteria BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 7
LONDON CHURCHILL COLLEGE Recommended ResourcesANDERSON, D. et al XXXXXXXXXXStatistics for Business and Economics. 2nd Ed. Cengage Learning. MORRIS, C XXXXXXXXXXQuantitative Approaches in Business Studies. 8th Ed. Harlow: Pearson Prentice Hall.DAVIS, D. and PECAR, B XXXXXXXXXXBusiness Statistics Using Excel. 2nd Ed. Oxford: Oxford University Press.SLACK, N. and BRANDON-JONES, A XXXXXXXXXXQuantitative Analysis in Operations Management. Harlow: Pearson Prentice Hall.Assignment Submission InstructionsTo submit Assignment, please follow the instructions below -1. Go to the following website: Start by clicking on the class name you would like to submit to after logging in to Turnitin3. You will see a two links, one for your Draft Submission and one for the Final Submission. Click on the Submit button to the right of the assignment you wish to submit. Please remember that you will only be able to submit to each folder once.4. Select single file upload from the Submit: pull down menu BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 8
LONDON CHURCHILL COLLEGE5. Enter a title for the submission6. Once the requirements for single file upload have been reviewed, students have a choice to upload a file from: the computer Dropbox or Google DriveClick one of the submission buttons and then select the file you would like to upload7. Click Upload to upload the file8. Review the preview panel. Click the Confirm button to upload the file to the assignmentIf you still have any questions or need any help, please contact with your Personal Tutor. BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 9
LONDON CHURCHILL COLLEGE Assignment Submission LimitLearners must submit their assignments via Turnitin. Turnitin is an originality checking and plagiarism prevention service that is used by the College to assess assignments.The College has a cap on the number of times that an assignment can be submitted through Turnitin. Students will now only be able to obtain one similarity report prior to their final submission.Students wishing to generate a similarity report before their final submission should submit their assignment in the Drafts Folder on Turnitin. Only one submission can be made to this folder and no submissions to this folder will be assessed.The Final assignment must be submitted in the Final Submission Folder or the Learner will be considered absent for the submission, even if they have submitted in the Drafts Folder.For the final submission, Learners must add the feedback front sheet to declare the authenticity of their assignment.Achievement of a pass gradeA pass grade is achieved by meeting all the requirements defined in the assessment criteria for each individual unit.Achievement of a merit or distinction gradeAll the assessment criteria and merit grade descriptors need to be completed within a unit to achieve a merit grade. All the assessment criteria, merit and distinction grade descriptors must be completed within a unit to achieve a distinction grade.Academic MisconductAcademic Misconduct is an act of gaining an unfair academic advantage in relation to formal or informal academic exercises. Examples of academic misconduct are- Cheating in an examination; Impersonation; Fabrication; Collusion; Plagiarism; Submission of work produced by someone else. The College consider all academic misconduct seriously. For reference, learners are recommended to read the following documents and to consult with their Personal Tutors XXXXXXXXXXBTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 10
LONDON CHURCHILL COLLEGE LCC Harvard Referencing Guide (Located in VLE) Academic Discipline Policy (Located in VLE)Mitigating CircumstancesMitigating circumstances can be defined as circumstances that are unexpected, significantly disruptive and beyond the control of the student, which could not be reasonably predicted or accommodated by the student and which affects student’s ability to meet assessment deadlines or impairs the performance of the student in assessment.If you wish to apply for mitigating circumstances, you can obtain the form from E-Learning, your personal tutor or reception. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick.Please note that the lecturers do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension. For further information please consider reading the following policy- Mitigating Circumstances Policy (Located in E-learning) Referencing GuideHarvard Referencing SystemWe expect students to use the alphabetical or name-date method known as the HARVARD system. There are two parts in this system:1. Citation within text or body of the report:In this the author's surname and year of publication are cited in the text, e.g. (Bond, XXXXXXXXXXReference List:A reference list (of these citations) is included at the end of the assignment, in alphabetical order by author. The reference list also includes additional details such as the title and publisher.A bibliography lists relevant items that you have used in the preparation of the assignment but not cited in your text. A bibliography should also be in the Harvard style and the inclusion of such a list shows that you have read widely beyond the items you have cited. BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 11
LONDON CHURCHILL COLLEGEExamples of citation within text or body of the report:1. Cormack (1994, p XXXXXXXXXXstates that XXXXXXXXXX XXXXXXXXXXThis view has been supported in the work of Cormack (1994, p XXXXXXXXXXJones XXXXXXXXXXand Smith XXXXXXXXXXhave both shown XXXXXXXXXXCorporate Author: 1st citation: Royal College of Nursing (RCN), 2007 2nd citation: RCN, 2007Examples of listings in reference list:1. Books with one author:Redman, P., 2006. Good essay writing: a social sciences guide. 3rd ed. London: Open University in assoc. with Sage.2. Books with two, three or four authors:The required elements for a reference are: Authors, Initials, Year. Title of book. Edition. Place: PublisherKirk, J. & Munday, R.J., 1988.Narrative analysis. 3rd ed. Bloomington: Indiana University Press. Page 11 of 12 BTEC HND in Business/ Managing Human Resources/May XXXXXXXXXXBooks with more than four authors:For books where there are more than four authors, use the first author only with surname and initials followed by ―et al‖. The required elements for a reference are:Author, Initials., Year. Title of book. Edition. (only include this if not the first edition) Place: PublisherGrace, B. et al., 1988. A history of the world. Princeton, NJ: Princeton University Press.4. E-booksFor e-books the required elements for a reference are:Author, Year, title of book. [type of medium] Place of publication: PublisherFishman, R., 2005.The rise and fall of suburbia. [e-book]. Chester: Castle Press.If available at website: Fishman, R., 2005. The rise and fall of suburbia. [e-book]. Chester: Castle Press.Available at: / E-books [accessed 5 June 2005].5. Journal articles BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 12
LONDON CHURCHILL COLLEGEAuthor, Initials., Year. Title of article. Full Title of Journal, Volume number (Issue/Part number), Page numbers.Perry, C., 2001. What health care assistants know about clean hands. Nursing Times, 97(22), p XXXXXXXXXXNewspaper articlesAuthor, Initials., Year. Title of article. Full Title of Newspaper Day and month before page numbers of article.Slapper, G., 2005. Corporate manslaughter: new issues for lawyers. The Times, 3 Sep. p XXXXXXXXXXJournal articles from an electronic sourceBoughton, J.M., 2002. The Bretton Woods proposal: an in-depth look. Political Science Quarterly, [online]. 42 (6), Available at: http://www.pol.upenn/articles (Blackwell Science Synergy) [accessed 12 June 2005].8. InternetNational electronic Library for Health XXXXXXXXXXCan walking make you slimmer and healthier? (Hitting the headlines article) [Online]. (Updated 16 Jan 2005) Available at: [accessed 10 April 2005].The title of a web page is normally the main heading on the page.9. E-version of annual reportsMarks & Spencer, 2004.Annual report XXXXXXXXXX. [Online]. Available at: http://www-marks-and- [accessed 4 June 2005]. BTEC HND in Business/Unit31: Statistics for Management/April 2020 Page 13
Answered Same Day Jun 30, 2021 UNIT 5


Payal answered on Jul 01 2021
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61290 - Solution
Statistics for Management
2.1 LO1 & 2
2.1.1 Evaluate the nature and process of business and economic data/information from a range of different published sources
2.1.2 Evaluate data from a variety of sources using different methods of analysis
2.1.3 Analyse and evaluate qualitative and quantitative raw business data from a range of examples using appropriate statistical methods
3.1 LO3 & 4
3.1.1 Apply a range of statistical methods used in business planning for quality, inventory and capacity management
3.1.2 Using appropriate charts/tables communicate findings for a number of given variables
The objective of this activity is to develop an understanding the importance of Management Information System (MIS) in Decision Making though various Statistical Techniques. There is a well-known saying “Data acts as an oil in the 21st Century”. This data is available in various forms (e.g. raw form, semi-finished, sorted, etc.) over various platforms & can be accessed by any individual at any given point of time. The criticality lies in the fact that how this data should be read, analysed, visualized so that sensible output can be drawn for decision making.
There process of turning raw data into useful information by applying various advanced analytical & statistical techniques to gain better insights about the business operations is known as Data Analysis. These business insight
ings the hidden opportunities of overall operations onto the surface for better decision making. During the past few years, it has emerged as one of the key activity for the smooth running of any business organisation.
In this report we will be looking at various aspects of Data collection, Data mining and Data interpretation in order to help in making meaningful business decisions. (Anderson, 2010)
2.1 LO1 & 2:
2.1.1 Evaluate the nature and process of business and economic data/information from a range of different published sources.
Introduction to Statistics:
Statistics is an information which is expressed in numerical terms. The numerical information could be related to Business, Economy, population, healthcare, etc. The nature & the specific fields define the domain of which the data is related to which are further analysed through various relevant techniques to draw insights out of it. For e.g. we can apply what if analysis, customer segmentation and cohort analysis to the business data. These all aspects are concerned with the process of the data.
Characteristics of Statistical data
According to Horace Secrist, there are seven characteristics of statistics
1) Data should be based of aggregation of Facts
2) Effect of all variables should be considered
3) Numerical expression
4) Accuracy
5) Sorted & Systematic
6) Data should consist the parameters which defines the purpose
7) Relation between all variables
Benefits of Statistical data:
As discussed in the beginning, data is an Oil in the 21st century. The businesses are giving more importance their data and their competitor’s data for proper comparison of the business position, in order to make better strategic decisions for the businesses. The benefits of statistical data can be gauged from the fact that the Uber, Ola are managing their whole businesses operations solely on the customer’s past data available in the database. (Mo
is, 2012)
Components of Statistics:
1) Domain of Data – It involves collecting the data for which the analysis needs to be done.
2) Population – It in involves considering the all factors of interest into account
3) Variable – This involves analysing the variables that are present in the data- numerical, character, ordinal.
4) Sample- It involves taking the part of the data, which fairly represent each dimension, in order to meaningful analysis.
Numerical scale of measurement
The numerical scale of any data helps in measuring the variable in a much better and accurate way, in order to derive concrete conclusions out of it.
Nominal- Nominal data involves assigning the numerical value to any variable. For e.g. 1 for Male and 2 for Female or for that matter the diabetic can be indicated by 1 and non-diabetic patients can be denoted by 2.
Ordinal – The data which is denoted by rank is known as ordinal data. For e.g. assigning 1st, 2nd and 3rd rank. Or for e.g. the level of severity in patient can be ranked by assigning 1, 2, 3-meaning 1 high severity and 3 – Normal patient.
Interval - Interval data type is the one which is measured along the numeric scale and each point is at the equal distance from one another. For example, Celsius Temperature is a classic example of interval data as the difference between the 10 degree Celsius and 20 degree Celsius is the same as for 20 and 30 degree Celsius.
Ratio - Ratio are almost similar to intervals with the exception that ratios cannot be in negative, whereas interval can be both positive and negative. Ratio data type gives good picture of the data. For e.g. for knowing the profit per unit of output sold, we can use the ratio for knowing the per unit profit
2.1.2 Evaluate data from a variety of sources using different methods of analysis
The data which is to be used for the analysis can be obtained from two sources-
1) Primary Data Source- In this the data is collected by the researcher themselves through various means like- interview, questionnaire, and etc. but it takes a lot of time and efforts to collect the data via primary data source.
2) Secondary Data Source – In this data is collected by someone else, and it is simply used by the researcher for his analysis. It can reduce the time and effort required in collecting the data. These kinds of data can be obtained from different websites like data, world and etc.
Methods of Analysis:
The data that has been obtained from different sources can be analysed by using two approaches.
1) Deductive - In this approach the existing data is analysed based on the past events. The events which have occu
ed in the past help us to draw conclusion out of the data.
2) Inductive – In this approach new facts and knowledge is drawn from the existing data. This is done by Hypothesis testing and various advanced statistical test available. A particular statement or theory is tested and observation are drawn from testing the fact on the new data and finally theory or a particular fact is confirmed.
There are also four other types of analytical methods for analysing the particular data –
1) Descriptive Analysis
2) Exploratory Analysis
3) Confirmatory Analysis
4) Inferential Analysis
1) Descriptive Analysis is concerned with the description of the data. It helps us to tell the situation of past. There are various statistical techniques which can be used for descriptive analysis. These are categorized into four type as below -
· Measures of Frequency
· Measures of Central Tendency
· Measure of Dispersion or Variation
· Measure of Position
a) Measures of Frequency- It measures the number of times the particular event has occu
ed. The frequency is handy tool for analysing the transaction data. For example the business case where we want to analyse how many time customers have ordered the particular product can help us study the...

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