Q

Analyse the data using tools for measures of dispersion

Unit 6 Business Decision Making - Statistical Method Assignment Help - Unit 6 Business Decision Making - Statistical Method – Level 5 Diploma in Business
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Program: Diploma in Business

Unit Name: Unit 6 Business Decision Making - Statistical Method

Level: Level 5

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Task-1
Question 1 Create a plan for the collection of primary and secondary data for a given business problem?
Question 2 Present the survey methodology and sampling frame used?
Question 3 Develop a questionnaire for this research and justify its design?

Task-2
Question 1 Summaries the data above using representative values (Mean, Median, and Mode) and analyse the results to produce information for decision making?
Question 2 Use of information collected to draw conclusions in a business context
Question 3 Analyse the data using tools for measures of dispersion (Range, Inter-quartile range, and Standard Deviation) to derive information for Office Furniture?
Question 4 Explain how quartiles, percentiles and the correlation coefficient can be used to draw useful conclusions for Office Furniture?

Task-3
Question 1 With the aid of a spread sheet present your information on pie charts, line graphs, and bar graphs as appropriate and draw your conclusions to aid decision making for the diversification strategy?
Question 2 Trend line
Question 3 Business report

Task-4
Question 1 Use information processing tools to manage inventory effectively?
Question 2 Using a network diagram, prepare a project plan on how you are going to implement the above system for Office Furniture and determine the critical path?
Question 3 Using the investment appraisal tools of NPV & IRR, you are required to propose the better MIS investment alternative to Office Furniture clearly justifying your proposed choice?

Unit 6 Business Decision Making - Statistical Method - Level 5 Diploma in Business

Introduction

Unit 6 Business Decision Making - Statistical Method in the Level 5 Diploma in Business focuses on using quantitative data and statistical tools to support effective business decisions. This unit helps learners develop analytical skills required to interpret business data, evaluate performance, forecast trends, and minimize risk in decision-making.

Students often find statistical concepts challenging. Professional Unit 6 Business Decision Making assignment help ensures accurate analysis, correct application of formulas, and well-structured reports aligned with academic marking criteria.

What Is Unit 6 Business Decision Making - Statistical Method?

This unit emphasizes the role of statistics and data analysis in modern business environments. Learners use real-world business data to apply statistical techniques that support planning, control, and strategic decisions.

Key learning outcomes include:

Learning Outcomes of Unit 6

By completing this unit, students will be able to:

  • Collect, analyse, and interpret business data

  • Apply descriptive statistics such as mean, median, and standard deviation

  • Use probability and forecasting techniques

  • Create and interpret graphical presentations

  • Support business decisions using statistical evidence

Key Topics Covered in Unit 6

1. Data Collection and Analysis

  • Primary and secondary data

  • Sampling methods

  • Data validation and reliability

2. Descriptive Statistics

  • Measures of central tendency

  • Measures of dispersion

  • Index numbers

3. Probability and Distribution

  • Probability rules

  • Normal distribution

  • Business risk analysis

4. Forecasting and Trend Analysis

  • Time series analysis

  • Moving averages

  • Regression analysis

5. Presentation of Data

  • Charts and graphs

  • Business reports

  • Interpretation of statistical findings

Common Challenges Students Face

  • Understanding statistical formulas

  • Interpreting numerical results correctly

  • Using Excel or statistical tools

  • Linking data analysis to business decisions

  • Meeting academic structure and referencing standards

This is why many learners seek Level 5 Diploma in Business Unit 6 assignment help to secure higher grades.

Unit 6 Business Decision Making Assignment Help

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