LO 1 Be able to use a variety of sources for the collection of data, both primary and secondary LO 1 Understand a range of techniq

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LO 1 Be able to use a variety of sources for the collection of data, both primary and secondary LO 1 Understand a range of techniques to analyse data effectively for business purposes

Purpose

The purpose of this assignment is to provide evidence of your understanding of techniques for data gathering and storage, an understanding of the tools available to create and present useful information, in order to make business decisions.

Learning Outcomes

LO 1 Be able to use a variety of sources for the collection of data, both primary and secondary LO 1 Understand a range of techniques to analyse data effectively for business purposes

LO 1 Be able to produce information in appropriate formats for decision making in an organisational context LO 1 Be able to use software-generated information to make decisions in an organisation

Task 2 

2.1Calculate and analyse the given data to get mean, median and mode and advise Ahmed on the best price range for his clothes. 

2.2Looking at the results, analyse the data such as the range and standard deviation and how this information will help Ahmed. 

2.3Identify and how the 25th Percentile (Lower Quartile) and 75th Percentile (Upper Quartile) and explain the use of percentile which would aid Ahmed in making decisions for his shop.

2.4Explain how inter-quartile range would help Ahmed make decisions for his business.