NOTE: You must answer all the questions in this assignment
tea restaurant is one kind of restaurant which provides fast food, milk tea and other kinds of soft drink. Because of its tidy, clean layout and decoration style, fast service and suitable price, tea restaurant is becoming more and more popular in young generation. Ming Li, the general manager of Dongjun property management company, plans to invest such a tea restaurant at Chisha, where GDCC locates. Before this project initiation, he needs more detailed information about Chisha for his decision making, such as the consumption level, the rent price, the labor cost, etc. Now, you are required to provide him such information. You need to collect data through surveying, and then analyze the data. Finally, you need to submit a formal business report for this decision-making project.
Make a plan for the collection of primary and secondary data for this project. The activities of questionnaire designing, delivering, data analyzing must be included. (1.1)
Buying a Business (Restaurant) PROJECT Submitted to the College .. By Name, surname Town, state 2005 Buying a Business (Restaurant) Name, surname Table of Contents: I. Abstract II. The Introduction III. The Main Body: 1) Pro and contra of buying a business; 2) Ten Commandments of running a good business; 3) Investigating the business; 4) Determining the price or value of a restaurant; 5) The ...
Describe the survey methods and frames used for data collection, and justify them. (1.2)
Develop and use a questionnaire and justify its design for your survey (consumer’s monthly income and expenditure at restaurant on a meal must be included).
Select 3 questions from your questionnaire to justify. (1.3)
Calculate the arithmetic mean, mode and the median of monthly income collected through your questionnaire survey and give your conclusions base on your calculation results. (2.1)
Analyze the data of consumers’ monthly income collected through your questionnaire survey in form of tabular, bar charts and histogram. You also need to give useful conclusions base on your analysis. (3.1)
The following data offered by Ming Li is about the operation performance of a restaurant, which locates at Tianhe district, Guangzhou. Through the analysis of these data, you will be more familiar with the business situation of the restaurant.
Table1: the monthly revenue and consumer quantity in 2010
|Month |Monthly revenue |Consumer quantity |
| |Unit: yuan |Unit: person |
|Jan |19500 |205 |
|Feb |20100 |210 |
|Mar |21300 |235 |
|Apr |22100 |240 |
|May |23300 |252 |
|Jun |23600 |258 |
The ultimate goal of descriptive statistics is to describe a set of data, identify patterns, and draw a conclusion, which enables an organization to make effective and informed decisions (McClave, Benson, & Sincich, 2011). The company, Ballard Integrated Managed Services (BIMS), a support services company will leverage statistics to gather information on the company’s employees to analyze and ...
|Jul |24100 |262 |
|Aug |24200 |270 |
|Sep |26300 |280 |
|Oct |27100 |295 |
|Nov |27300 |306 |
Complete the following tasks (task 6, 7, 8) according to the data given above.
Calculate the range, mean, standard deviation by using the data of monthly revenue of this restaurant. (2.2)
Calculate the 1st quartiles, 2nd quartiles, the 60th percentiles, and the correlation coefficient between monthly revenue and consumer quantity. Use them to draw useful conclusions. (2.3)
Draw a trend line in spreadsheet graphs using the data of monthly consumer quantity and then use this trend line to forecast the consumer quantity in Mar 2011 and give your suggestions for this restaurant. (3.2)
Prepare a business presentation using PowerPoint to disseminate information you have got through your survey and data analysis. This activity is to be recorded down. (3.3)
Write a formal business report to general manager Ming Li about your survey conducted according to your plan (see task 1).