ONCAMPUS Assignment Brief

ONCAMPUS Assignment Brief

Academic Year 2021-22Please read this document carefully. It includes the learning outcomes, assignment task, information about plagiarism and marking criteria. Please speak to your tutor if you have any questions.

Programme

International Year One / Masters Foundation Programme

Module

IY1B9 - Quantitative Methods for Business Decision Making

Assessment title

Individual report - Making business decisions using statistical methods

Deadline date

To be confirmed by your tutor

Weighting

This assessment counts for 40% of your overall grade for this module

Pass mark

40%

*please note your University may require a higher grade for progression.

Assignment summary

For managers to make effective and informed decisions, they employ the use of statistics to analyse data and information. This allows them to identify risks and opportunities and help them to make strategic and tactical decisions for the future of the company.

For example, a company might want to find out about their market share, profitability of a new product, how many employees should be hired or sacked, what capital investment is required to increase capacity or reduce costs.

Your coursework is designed to allow you to apply various statistical methods to real world business problems and improve your decision making skills.

Submission of work

http://www.turnitinuk.comFeedback

http://www.turnitinuk.comFeedback will also be communicated back to you via your tutor. They will confirm the timescale in which you will receive your feedback.

Important details

Unless instructed otherwise by your tutor, please follow the below instructions:

Word count 2,000 words

File type Word processed/PDF

Font 12 pitch font Arial or Times New Roman

Format Double spaced and justified

Referencing Harvard system

Notes Your assignment must include page numbers and word count.

You will receive a 10% penalty for this assessment if you go over the word count by more than 10%. If your assignment is significantly under the word count, you may not have answered the question in full. This will be reflected in your overall mark and feedback given by your tutor.

The word count does not include contents, end of text references or appendices.

Module learning outcomes

Upon successful completion of this module, you will be able to:

Explain how a variety of sources can be used to collect both primary and secondary data relating to a business issue & use critical assessment skills to assess the suitability of sources

Extract the main information from a business data set, produce summaries and present them effectively. Synthesise, analyse, display info using ICT and presentation skills

Understand and apply a range of quantitative techniques and statistical methods to analyse data in a business context (using ICT software where appropriate)

Evaluate a business problem to aid decision-making using an evidence base.

This assignment requires you to demonstrate that you can:

Create and collect primary and secondary data for a business idea (LO1)

Evaluate the effectiveness of sources used when making decisions (LO1)

Extract the main information from a data set using representative values; measures of dispersion; correlation; probability; simple regression analysis (LO2, LO3)

Present data effectively as information to aid decision making (LO2)

Apply relevant methods to interpret data, building on the extraction of data (LO3)

Use the information to evaluate a business problem to aid decision making (LO4).

Assignment purpose:

This assignment is designed to test your understanding of, and your practical ability in using statistical analysis techniques to make decisions through application to a real business problem. You will be collecting, preparing, testing and presenting data in order to make management decisions.

Assignment instructions:

Overview: You are a manager in a business who has a problem to solve. For this assignment, you need to write a report for other stakeholders in the business to understand the problem faced and what you believe should be done to solve the problem.

Scenario:

You should think like a manager in a real business. It is strongly advised that you use a real-life business scenario to base this coursework upon. If you are unable to access a real-life business, you can construct a life-like scenario but you must write the report as if the business is real and as if you are real managers within this business e.g. a potential start-up, issue in the university or ONCAMPUS.

Any scenario chosen should enable you to access enough data about the context and problem to allow for data analysis to be performed. Remember this is a business module and the topic should be business related, however the marks you are awarded relate to the data collection, analysis and decision making rather than the scenario. Check with your tutor before you start to ensure that your topic is suitable.

Note that there are many business problems in different areas (Insurance, Banking, Finance, Logistics, Economics) that statistical methods can be applied to. These include, but are not limited to:

Marketing and Sales Department pricing, understanding customer needs, consumer buying habits, customer segmentation/retention, brand image, advertising

Operations Department product profitability, production, stock management and quality control

Human Resources hiring, employee motivation, training

Investment decisions equipment purchase, interest rate impact on cost of borrowing

Logistics department physical distribution by ensuring goods arrive on time etc

Please note that you are not limited to these sort of business problems.

Content of the report:

The problem: define the business context and problem that you need to make a decision about as managers in the business.

Outline the plan for data collection & analysis

Collect and present information/summary statistics and describe the data demonstrating good data management and display techniques (see topics 4 & 5 in the scheme of work)

Test the data using relevant statistical tests (include your assumptions and rationale for using each test) (see topics 6, 7 & 8 in the scheme of work select relevant tests, you only need to use useful and relevant tests on your data)

Analyse the results and describe any learning you have gained about the business problem through your data analysis

Draw conclusions about the data and understand limitations in concluding results

Outline and justify your management decision (concerning your business problem) as a result of the data analysis you have conducted.

References: sources of information and data used in your report (use Harvard referencing)

Plagiarism

We expect all submitted work to be your own words (apart from in-text quotations), written in a style that reflects your English language level. If you copy other peoples work and present it as your own, this is called plagiarism and is a serious academic offence.

The full details of our policy on academic misconduct can be found at the back of the Programme Handbook.

You must complete a coursework submission sheet and attach this to the front of your assignment.

Submissions without this sheet may be rejected and may result in a mark of 0 being awarded for this assignment.

Marks awarded Task 1-3 Planning, data collection and presentation (LO1/2) Task 4 Statistical analysis (LO2/3) Task 5 Analysis of data (LO2/3) Task 6+7 Drawing conclusions (LO1/4) Task 7 decision making (LO4) Presentation of the report Reference to literature & referencing

Element weighting 30% 20% 20% 10% 10% 5% 5%

90-100%

The plan for the study is in context of or like a real-life business. Importance of the problem is demonstrated + below criteria are met. Exemplary understanding of the application of statistical tests to the given context is demonstrated + below criteria are met. Novel/new analysis of data is demonstrated + below criteria are met. Novel originality is demonstrated in the conclusions shown + below criteria are met. Decisions are based on compelling evaluation of the business context and data + below criteria are met. The report is written to contain elegance of argument; it is well written and contains no errors. English language is correctly used and meaning is very clear. Original sources are used to give insight to the report. Effective Harvard referencing is used with no errors.

80-89% Introduction is very clear; the plan for the study is in context to a real-life business.

Data are displayed in a professional and suitable format.

Summary statistics are insightful to solving the problem. Comprehensive knowledge & application of statistical tests/methods are demonstrated + below criteria are met. Analysis includes all relevant aspects & any further analysis would not add to the report + below criteria are met. The reader cannot imagine any other items missed from them conclusion + below criteria are met. Alternative decisions are discounted to arrive at a supported decision + below criteria are met. The report is written to contain elegance of argument, it is well written and contains no errors. English language is correctly used and meaning is very clear. Original sources are used to support the report.

Harvard referencing is correct and consistent throughout, errors are hardly noticeable.

70 79% Clear introduction, comprehensive plan for study is in context. Data collected are appropriate to the context of the problem. Data are displayed in a suitable format. Summary statistics are very clear and directly relevant to considering the whole problem. Present a hypothesis/ starting point, giving sound reasons in context.

Choose relevant statistical tests and carry out appropriate analysis correctly with full explanation of methods used relating to the context of the problem.

Detailed evidence of understanding of statistical tests is sound. No other analysis could have been attempted to make the reports outcome better. Methods are explained in detail given in context. Clear evidence of understanding about why each calculation is included and full explanation of methods used. Analysis is specifically relevant in context and specific insights are gained to help decision making (trends etc). Mistakes in analysis are rare. Conclusions about relationships are fully explained using evidence for support in all cases. Conclusion in context with evidence of independent thinking and linking with information from other sources. The conclusion is thorough and covered most relevant themes from data analysis relevant for the decision to be made.

Thorough discussion of strengths and limitations of methods used including error in results (for example validity of hypothesis, support for statistical model used and accuracy and precision of measurements)

Directly relevant to the requirements of the assessment a business problem is given and a decision is made based on evidence and in context so the decision is valid and akin to if the decision was to be made in a real business. Well written, with standard spelling and grammar, in a readable style with acceptable format. Very few, if any, errors exist. English language is used and meaning is conveyed at all times. Original sources are used to support the report.

Effective Harvard referencing is used with very few or no errors, a consistent format for referencing is used throughout.

60 69% Very good introduction

Comprehensive plan for study

Evidence of independent thinking

Data collected are appropriate and sample size very good

Data are displayed very well in appropriate tables and charts all of which are directly relevant to the task.

Summary statistics provided which are relevant and correct. Present a good hypothesis/starting point, giving reasons in context.

Choose relevant statistical tests and carry out appropriate analysis correctly with full explanation of methods used.

Conclusion reached about the hypothesis/starting point and fully explained using the evidence.

Detailed evidence of understanding of statistical tests is sound, containing no errors. Methods are explained in detail given in context. More than one relevant method is used. Clear evidence of understanding about why each calculation is included and full explanation of methods used. Analysis is specifically relevant and specific insights are gained to help decision making (trends etc). Mistakes in analysis are rare. Conclusions about relationships are explained using evidence. Conclusion is sound (based on evidence from within the report) with evidence of independent thinking and linking with information from other sources. A number of relevant conclusions are drawn.

Detailed discussion of strengths and limitations of methods used including error in results (for example validity of hypothesis, support for statistical model used and accuracy and precision of measurements)

Directly relevant to the requirements of the assessment a business problem is given and a decision is made based on evidence. Well written, with standard spelling and grammar, in a readable style with acceptable format. English language is used and meaning is conveyed at all times. Very good use of appropriate literature and information sources (sources support the report in all required cases). Effective Harvard referencing is used in an acceptable format with few errors.

50 59% Good introduction

Good plan for study

Some evidence of independent thinking

Data collected are appropriate and sample size adequate

Data are displayed in appropriate tables and charts but may have some degree of irrelevance

Summary statistics provided which are mostly relevant and correct. Present a sound hypothesis or starting point for analysis.

Choose relevant statistical tests but may be limited in full analysis or lacking in explanation for the given context.

Conclusion reached about the hypothesis/starting point with some evidence.

Evidence of understanding of statistical tests with relevance to the problem is demonstrated. Methods are explained in detail. More than one relevant method is used. Analysis is relevant and specific insights are gained to help decision making. Mistakes in analysis are minor. Conclusions about relationships are explained using evidence.

Good conclusion with some evidence of independent thinking and some linking with information from other sources, some elements have been missed out from the conclusion but it is still a valid conclusion.

Good discussion of strengths and limitations of methods used including error in results. Directly relevant to the requirements of the assessment a business problem is given and a decision is made based on evidence. Some elements may lack focus but the key messages remain clear. Competently written, with only minor lapses from standard grammar, with acceptable format. English language is used and meaning is conveyed at all times. Competent use of appropriate literature and sources to support the argument.

Effective Harvard referencing is used in an acceptable format with some errors.

40 49% Adequate introduction

Evidence of plan but very few details

Data collected are appropriate but sample size small

Over reliance on material given by tutor

Data are displayed in basic way or have significant degree of irrelevance

Summary statistics provided which are irrelevant and/or incorrect. Present an adequate hypothesis/starting point for analysis.

Minor mistakes in choice of statistical test or in analysis or lacking in full explanation of method choice.

Conclusion reached about the hypothesis/starting point but lacking in explanation/use of evidence.

Correct but at times limited evidence of understanding of statistical tests/methods relevance to the problem solved. Analysis is relevant and acceptable insights are gained to help decision making. More than one relevant method is used.

Adequate conclusion with evidence of some independent thinking, the conclusion is based on data and information within the report.

Acceptable discussion of strengths and limitations of methods used. Correlation with all the requirements of the assessment, all aspects have been attempted, some may lack focus. A business problem is identified, data are collected and analysed and a decision is made. A simple basic style but with some deficiencies in expression or format that may pose obstacles for the reader. English language is used and meaning is conveyed but at times there may be some confusion which does not detract from the overall message contained in the report. Some appropriate literature and sources used.

Effective Harvard referencing is used in a recognisable format with some (but not significant) errors.

30 39% Little or no introduction.

Basic plan with limited detail.

Relevance of data display is vague.

Summary statistics are provided but have some irrelevance. Attempt to present a hypothesis/starting point but not directly relevant to context;

Choose irrelevant statistical test; or correct test with major mistakes in analysis;

incorrect conclusion reached about the hypothesis/starting point.

No evidence of understanding of statistical tests/methods and relevance. Only very basic analysis attempted, no explanation, or numerous mistakes evident. Basic conclusion with little evidence of independent thinking and linking with information from within the report e.g. generalisations.

Very basic discussion of strengths and limitations of methods used. Relevance to the requirements of the assessment may be very intermittent, and may be reduced to its vaguest and least challenging terms. A business problem is identified but a decision is not clear. Some minor errors in presentation, the writers may achieve clarity (if at all) only by using a simplistic or repetitious style. English language use does not always convey meaning. Barely adequate use of literature and sources.

Harvard referencing is attempted but numerous errors exist.

20 29% Poor plan but a plan exists in some form, little data collected, summary statistics are presented poorly. Hypothesis/starting point is only broadly relevant to the problem, statistical tests conducted are not relevance or contain multiple major errors. Little analysis attempted or not all methods relevant, little explanation and poor insights gained. Conclusions not based on data or using mainly assumptions/ generalisation. Work does not meet all elements of the brief/significance irrelevance. A business problem is identified but no decision is made. Many minor errors in presentation but complete report. Errors in English language prevent meaning being conveyed. Limited evidence of required reading shown and poor attempt at Harvard referencing (format used is not recognisable or inconsistently applied).

0 - 19% No or irrelevant plan, no or little data collected, summary statistics are not presented or are irrelevant. No hypothesis/starting point stated. No tests or choice of tests and explanation flawed. No or irrelevant analysis of data e.g. incorrect methods used, no explanation or insights. No conclusion is provided to help a decision be made about the given problem. Significance irrelevance/work is incomplete. A business problem is not identified or a decision is not made. Major errors in presentation/incomplete work. Errors in English language prevent meaning being conveyed. Lacks reference to any relevant information sources. Harvard referencing is not use.