Business Decision Making

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  • Topic: Median, Percentile, Quartile
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ISMS Academy for Advance Learning Pune – Maharashtra - India

BUISNESS DECITION MAKING

Date of submissions 10.10.12 SUJIT KUMAR BEHERA

Statement of Authenticity I certify that the work submitted in regard to this assignment is my own and wherever the works of others have been used to support my work, the credit has been duly acknowledged. Student Email : sujit.isms@gmail.com Date: 10.10.12

Business decision making

[Type the document title] Extended Diploma in Strategic Management & Leadership ISMS Academy for Advance Learning, Pune – Maharashtra - India Table of Contents Sl. No 1 2 3 4 5 6 8 9 Executive summery Introduction Create a plan for the collection of primary and secondary data for a given business problem. Present the survey methodology and sampling frame used. Design a questionnaire for a given business problem. Create information for decision making by summarising data using representative values. Analyse data using measures of dispersion to inform a given business scenario. Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context. Conclusion Page No ------------------03 04 05 06 06-08 09 10

Particulars

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[Type the document title] Extended Diploma in Strategic Management & Leadership ISMS Academy for Advance Learning, Pune – Maharashtra - India Executive summary The assignment deals with the collection of data regarding transportation and hence the introduction of transportation is mention. It consists of roadways, airways, railways and waterways. In this it was tried to find the transport facility which was mostly preferred by the people. In respect to this a proper planning is necessary and therefore primary and secondary data has been collected. After the collection of data a survey and methodology with their types have been explained. After that a questionnaire is made based on transport facility which helps to know the preference of people for using a particular transportation. After that in according to the information provided mean, median and mode is calculated. Similarly standard deviation, quartile, percentile, deciles, correlation and coefficient are calculated. After this a conclusion is mention which explains the entire understanding of the concept of this assignment. And at last in the conclusion it is mentioning that, why primary data and secondary used and how it is necessary for survey methodology.

Page 3 of 16

[Type the document title] Extended Diploma in Strategic Management & Leadership ISMS Academy for Advance Learning, Pune – Maharashtra - India Introduction The tasks that are explained in this assignment are most necessary and the basic thing for taking any decision related to business. These are helping us and improve our own decision making. This are helps to predict various element of decision likes estimating minimum sales, defining the price of product and see whether it is profitable or not. The assignment include the Contents mean, median, mode, standard deviation, quartile, deciles, percentile, coefficient of correlation, survey methodology, sampling frame, primary data and secondary data, survey methodology, primary data and secondary data.

I have used the mean, median and mode to gain information in relation to a population from a sample set of experimental values. Similarly I have used the Standard deviation because I want to know in this observation that, how far the data spread out or extend from the mean. Quartile: The data values which divide an ordered data into 4 equal part are called quartile. Q1 is the first quartile are distribution in such a way that 25% of observation have a value less than q1 and 75% have a value more than q1. The second quartile q2 have the same no of observation above and below it. Therefore it is same as median value. The quartile q3 divides the data in such a way that 75% of the observations have a value less than q3...
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