Based on and incorporating the work they have done in assessment 1; students need to work on collecting and analysing data methods for the chosen research problem in this assessment. In this report, students need to: ➢ Explain the type of data to be collected ➢ Recommend a quantitative data collection approach & justify ➢ Recommend a quantitative data analysis approach & justify Weighting: 25% Word count: Max. 900 words (excluding cover page, references, and appendices) Submission date: 3rd of November 2020, 23:59 o’clock Submission type: Turnitin Format / Layout of Assessment: ➢ Title Page ➢ Introduction ➢ Body ➢ Reference List ➢ Appendices (if applicable) ❖ Students should follow the APA referencing style to construct the Reference List and in-report citations.
Quantitative Method: Individual Assignment (Part 2) Based on and incorporating the work they have done in assessment 1; students need to work on collecting and analysing data methods for the chosen research problem in this assessment. In this report, students need to: ➢ Explain the type of data to be collected ➢ Recommend a quantitative data collection approach & justify ➢ Recommend a quantitative data analysis approach & justify Weighting: 25% Word count: Max. 900 words (excluding cover page, references, and appendices) Submission date: 3rd of November 2020, 23:59 o’clock Submission type: Turnitin Format / Layout of Assessment: ➢ Title Page ➢ Introduction ➢ Body ➢ Reference List ➢ Appendices (if applicable) ❖ Students should follow the APA referencing style to construct the Reference List and in-report citations. Quantitative Method: Individual Assignment (Part 1) For this assessment task, students need to work on a research problem (you identify for a company/brand/product). Students need to choose a research topic that can be solved by quantitative methods. In this report, students need to: ➢ Provide some background information on the company/brand/product ➢ Explain the research issue. ➢ State the research problem: the information needed to help management solve the problem / make the decision. ➢ State the research objective(s) Weighting: 15% Word count: Max. 400 words (excluding cover page, references, and appendices) Submission date: 6th of October 2020, 23:59 o’clock Submission type: Turnitin Format / Layout of Assessment: ➢ Title Page ➢ Introduction ➢ Body ➢ Reference List ➢ Appendices (if applicable) ❖ Students should follow the APA referencing style to construct the Reference List and in-report citations. RESEARCH PROBLEM SOLVED USING QUANTITATIVE METHOD COMPANY: (CALDESCO) CALGARY DESK COMPANY, I. INTRODUCTION Calgary Desk Company is a company which is in Alberta, Calgary. It is engaged in production of different kind of tables and furniture. In this case the company is proposing to produce nine different type of desk .This desk which are produced are categorized into three categories i.e. economic and hand crafted. To determine profitability and viability of production level of costs, material, labor, other resources and future revenues are anticipated. To be specific research is done to analyze the following: · An analysis of viability of introducing a bonus plan that will reduce absent rate from 20% to 15% and will cost $70,000. · An analysis whether it will be possible to purchase a new production line which will cost $8,00,000 and hiring 10 new workers and $60,000 per month is paid to each worker. The month which is taken as base is the month of October. This report highlights the research using Quantitative method. II. RESULT OF RESEARCH Line Size Profit Oct. Orders Aluminum Particle Board Pine Sheet Economy Student 50 750 14 8 Standard 60 900 24 15 Executive 80 100 30 24 22 Basic Student 100 400 40 Standard 160 800 55 Executive 250 100 25 Handcrafted Student 200 25 45 Standard 500 150 60 Executive 700 50 The values in above table are verified values and it is assumed that there is no change in value. According to the above table current profit is $339,500 Table showing Resource availability for October. Labor (Man Minutes) 2,30,400 Aluminum (SQ. FT.) 50,000 Particle Board (SQ. FT.) 30,000 Pine Sheet (SQ. FT.) 2,00,000 Production Line 1 (MIN) 9,600 Production Line 2 (MIN) 9,600 Production Line 3 (MIN) 19,200 Table showing Production Quotas (Of Total Production). MIN% MAX% Economy 25 50 Basic 35 55 Hand CR 15 25 Student 20 40 Standard 40 65 Executive 10 25 As mentioned in the table given above current profit $339,500 and potential maximum profit is $397916 which is greater by 17.2% from current profit. Thus we can say the difference in the current and proposed situation is not much and there is much optimization present. In order to obtain maximum profit the ratio mentioned below is considered. Nr. Products Ideal produced/sold Nr. Of product in order to maximize profit Current Situation Difference of A and B value in % 1 Qty. of Economic student desks 750 750 0% 2 Qty. of Economic standard desks 1440 900 60% 3 Qty. of Executive desks 100 100 0% 4 Qty. of Basic Student desks 400 400 0% 5 Qty. of Basic Standard desks 921 800 15.12% 6 Qty. of Basic executive desks 1100 100 1000% 7 Qty. of Hand crafted Student desks 1357 25 5328% 8 Qty. of Hand crafted Standard desks 150 150 0% 9 Qty. of Hand crafted Executive desks 50 50 0% Table below represents unused resources Nr. Resource Unused resource in ideal scenario Current Value of resources (C) Unused resources in % of C 1 Aluminum 1.940 50 3.88% 2 Particle board 0 30 0% 3 Pine Sheet 50.185 200 25.01% 4 Production line 1 5345 9600 55.67% 5 Production line 2 4889 9600 50.92% 6 Production line3 3895 19200 20.28% 7 Labor 0 230.400 0% Thus at first glance it is required to maximize usage of production lines, and then afterwards absent rate should be reduced and should try to invest in one or more products. III. REFERENCE [1] J.Lawrence. B.Pasternack. Applied management Science. 2ed. John Willey&Sons. USA. 2001 [2] S.Krcevinac all. Operational Research 1. Faculty of Organizational sciences.Belgrade. 2006 [3] O.Yu. Technology portfolio planning and Management – Practical Concepts and Tools.Springer.USA.2006 [4] S.Krcevinac all. Operational Research 2. Faculty of Organizational Sciences.Belgrade.2006. III. APPENDICES. The above report represent analysis with respect to the analysis done and it shows the research done solved using quantitative method.