Boutique Build Australia specializes in designing and building boutique houses for residential customers. It has been operating
Question:
Boutique Build Australia specializes in designing and building boutique houses for residential customers. It has been operating since 2002.
The company is a new client, and they have requested your assistance in analysing both internal and external statistical data to assess their performance as a business, as well as using the analysis to assist with forecasting. They also want you to validate the data, to test the effectiveness of the data, and then to establish any relationship between GDP and sales.
The client has provided you with internal data for the last 10 years that includes trading revenue, total assets and earnings before interest. You will find this in the document Financial Statistics.
Your work should comply with industry standards and your company’s internal regulations set out in Financial Policy and Procedures.
Complete the following activities:
1. List the three different forecasting methods for forecasting growth covered in this course and explain the circumstances in which each would be used.
Record your response in Customer Data Report Template.
2. Prepare six forecasts for sales for 2017 using two for each of the three methods.
The relevant company data can be found in the document Financial Statistics.
Use Company Data Student to complete your response. You should insert the formulas into the tables yourself.
• For the Moving Average method, one forecast using 3-year period and the other using 4year period.
• For the Weighted Moving Average method, one forecast using weights of 0.5, 0.35 and 0.15, from the most recent observation to the third most recent. The other
forecast using weights of 0.55, 0.3 and 0.15 in a similar fashion.
• For the Exponential Smoothing method, one forecast should be prepared using α = 0.85 and the other using α = 0.35.
Use the Company Data Template Excel Workbook to guide your work.
3. Create a summary of the results
Use the MAD column next to each forecasting method option to perform the calculations, so you will end up with six different values which measure effectiveness, two for each method.
Summarise the six forecasts in the Summary Results Worksheet of the Company Data Template.
4. Explain why it is important to test the effectiveness of the various forecasting methods and give the formula of the most widely used test measure.
Record your response in Customer Data Report Template.
5. Choose the forecasted value for 2017 you will use and give reasons.
Record your response in Customer Data Report Template.
6. What are the possible limitations of relying solely on statistical techniques to develop forecasts?
Record your response in Customer Data Report Template.
7. The company wishes to establish whether there is a relationship between GDP and sales.
Identify a source of information for establishing GDP.
Which technique would you use to establish whether there is a relationship between the two? Explain the method and why.
Record your response in Customer Data Report Template.
8. Calculate the relationship between GDP and sales
Using the method that you have identified in the previous activity, calculate the relationship between the two.
Use the Sales vs GDP Worksheet in Company Data Template to perform the calculations.
9. Comment on the strength of the relationship between GDP chain volume measures and the Boutique Build sales from 1999 to 2016.
Record your response in Customer Data Report Template.
10. File your documents.
You will now have the following documents:
• Customer Data Report Word document containing your responses to activities 1,4,5,6,7,9. • Company Data Excel Workbook with your responses to activities 2,3, and 8.
Ensure that these documents are named and filed correctly.
11. Send an email to your Manager (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should outline the project and summarise the contents of the attachments. Attach your customer data report and company data Workbook to the email.
Boutique Build Australia is very happy with your report and has now asked for your advice on the sampling to assist in studying the main motivating factor of why customers choose Boutique Build Australia.
They have provided you with a Customer List in order to select the sample. They have indicated that, as they have approximately 100 customers, they would like you to select an appropriate and representative sample size.
12. Report on sampling methods.
Discuss at least three sampling methods that could be used. Identify which sampling method you consider to be best and why.
Record your response in Survey Sample Recommendation Template.
13. Identify the sample that should be used.
Using the information provided to you in Customer List, identify the sample that will be used based on the method you have identified.
Record your response in Survey Sample Recommendation Template.
14. Send an email to Boutique Build (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the attachment and seek their feedback and approval to move forward with the project.
Attach your Survey Sample Recommendation to the email.
Carefully read through the following:
Assume that, based on the sample you identified, the company conducted a survey to identify the main motivating factors that influence customers to sign up for a building project with Boutique Build Australia.
The results of the survey are in the document Survey Results, and the company has asked you to include an analysis of the results in your report. The Boutique Build Australia management team have asked you to present the results in the form of a graph, diagram and table and to comment on the findings.
15. Create a graphical representation of the results.
Use Survey Analysis Template to record the survey results and create graphs for survey questions 2,3 and 4.
16. Write a report on the survey results.
When you have completed the Survey Analysis, write a short report (half a page) on the findings for the Boutique Build Australia management team.
Use the Survey Report Template to record your response.
17. Take a screen shot of your folder and files.
The final part of this assessment requires you to demonstrate that you can file all of your records in a logical structure.
Ensure that you have an overall folder for your work, as well as sub folders if necessary. All of the documents you have submitted for this assessment task should be correctly named and filed.
The screen shot should show all the folders and documents.
18. Send an email to Boutique Build (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
The email text should summarise the contents of the attachments.
Attach your survey analysis, survey report and the screen shot to the email.
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