IBM 320 – Business Application
List the question
Answer with 2 paragraphs, chart, paragraph, and company example Minimum 1.5 pages for each question
Answer all 5 essays
Part 1: power point on blackboard
Essay (worth 50% of the grade)
Essay #1: Why is the understanding of sales forecasting critical to the success of business? What method and/or tools (at least two) can one use to forecast sales? #1:Forcasting sales critical to business: setting up a budget for the next 12 months, understand the road map of where you intend to go, predicting expenses, capital planning, staffing levels, productivity, sales, expenses, better understand inventory, tools and methods- regression analysis, standard deviation?, Delphi method/brainstorming, expert pinion, historical demand, industry trends and growth and seasonality
Essay #2: Explain linear regression and how it can be used. Then provide three examples of how it might be used in Business. #2: Linear regression and examples in business: predicts next likely point, developing trends, Google it, and on blackboard
Essay #3: Provide 3 clear examples of ways to use Quantitative Analysis. Be sure to provide the actual data being used to analyze the problem. #3 provide examples of ways to use quantitative and qualitative analysis: the science and numbers behind marketing (quant) from focus groups and surveys, look at the average, standard deviation, etc. Qualitative is the ideas, perceptions, biases pertaining to market research. Example: 80% of people like blue (quant) but women like light blue (qual) Google quantitative analysis- give thoughts and ideas on the topic
Essay #4: List at least 5 critical topics that must be addressed in a Business Plan and elaborate upon their importance to the overall plan. Then list the major factors that MUST be included in a Strategic Plan.
#4 What are the 5 areas that must be address
Target market definition
Risks and assumptions
Difference between strategic plan and
Strategic plan-vision and mission statement
Essay #5: Regarding Microsoft Excel…please explain:
a. How it is used.
b. What you learned in class.
c. It’s ability to do mathematical calculations and statistical analysis (provide example). d. Provide an excel spreadsheet (actual copy) that shows:
- Ten classes you had to take at CalPoly
- When you took them (quarter)
- Day of the week
- Time of day
- Class Number (i.e., IBM 320)
#5 How is excel used and what did you learn in class: explain how it is used, and learned in class, and its ability to do mathematical calculations. Use a excel spreadsheet from personal use
Questions: (Multiple Choice, T/F, Fill in the Blank – worth 50% of the grade)
1. Microsoft Excel is used for word processing and spreadsheet development.
2. Microsoft Excel can be used for statistics, including linear regression and frequency distribution.
3. Income statements can be used to evaluate a business by revealing key financial ratios such as:
a. Quick ratio
b. Current ratio
c. Both A and B
d. Neither A or B.
4. Income statements are generally used to reflect the ___________ of a firm.
b. Market share
5. A Balance Sheet reflects a firm’s ___________ and ______________.
a. Earnings per share and Profit.
b. Equipment and bad loans.
c. Profit and Loss.
d. Assets and Liabilities.
6. Forecasting predicts the future value of a firm’s financial statement.
7. Forecasting is akin to looking into a crystal ball.
c. Only during peak season.
d. Not at all.
8. Sales forecasting can best be performed when there is sufficient historical data to draw conclusions about predicting the future.
b. Only if the data are sound.
Please join StudyMode to read the full document