BUS B272F Quantitative Methods for Decision Making
Due Date: 24 May 2020 before 5:00 pm
Weighting: 60% of your course grade
- Extended essay (40%)
- Reflective journal (20%)
- Extended essay: Within 1,000 to 1,200 words.
- Reflective journal: Not more than 300 words.
- This assignment must be submitted at or before 5:00 pm of the given due date; it must
be uploaded to the OLE by using Turnitin function.
- Plagiarism is absolutely prohibited.
YOU MUST USE YOUR OWN WORDS TO PRESENT YOUR FINDING(S).
DIRECT COPY FROM THE LECTURE POWERPOINTS ARE STRICTLY PROHIBITED.
Extended Essay (40%)
A New Manufacture of Hand Sanitizer
Due to the coronavirus pandemic, there is a supply shortage of hand sanitizer not only in Hong
Kong, but also around the world as well. Assume you and your business partners are
considering to set up a new manufacture which produces hand sanitizer. Your partners have
asked you to prepare a presentation for them to consider whether it is a good idea to start this
new business project at this moment and make decisions. Based on what you have learnt from
BUS B272F course, you are now preparing the presentation.
You and your partners have no previous experiences on how to set up a factory.
You and your partners have zero knowledge on how to produce hand sanitizer.
Startup investment on this project will be limited.
You DO NOT need to justify your finding(s) mathematically.
You DO NOT need to collect any data at this stage, present your finding(s) with proper
qualitative and/or quantitative tools to make various decisions for the new business. You
need to describe your selections and justify how and why you would use these tools to solve
the potential problems.
You need to apply any FIVE sets of qualitative and/or quantitative tools in your presentation.
Below are some of the suggested questions you should consider when preparing your
presentation. You need to apply the suitable (either qualitative or quantitative statistical)
tool(s) to answer the questions.
- Please describe your organization briefly.
- You need to collect and analyse data at the beginning stage. Any issue(s) you need to
be aware of when collecting and analysing the data?
- How would you forecast the future demands of the hand sanitizer? How many bottles
of hand sanitizer to produce each month? How big is your bottle? Will there be
multiple sizes available? How much will you sell for your hand sanitizer? What are
the factors that would affect your sales? What are the events for this business?
- After you have collected all the data, how would you analyse and interpret the results
by using different tools?
- Based on the results you have, you need to compare all the results. What do they tell
- Finally, please list out and explain all the possible outcome(s). What is your final