Assessment Front Sheet

IMPORTANT: Your assignment will not be accepted without the FRONT SHEET.
Campus: Stream:
Level: ACL 1 Year/Semester
Module Name: Business Mathematics Assignment Type: Module Assignment
Student’s Name: Assessor’s Name:
Issued on: Reqd. Submission Date:
Actual Submission
Submitted to :
Date:
Higher Level Skills
Students are expected to develop the following skills in this assignment:
• Cognitive skills of critical thinking, analysis and synthesis.
• Effective use of communication and information technology for business applications.
• Effective self-management in terms of planning, motivation, initiative and enterprise.

Certificate by the Student:

Plagiarism is a serious College offence.
I certify that this is my own work. I have referenced all relevant materials. ________________________
(Student’s Name/Signatures)
EXPECTED OUTCOMES Assessment Criteria – To achieve each outcome a Achieved (Y/N)
student must demonstrate the ability to :
Students should know Types of Explain the need & importance of Data in Business
Data, Various sampling Problem-solving & Decision-making
methods & Tabulation of Data
Students should know the Explain various sampling survey techniques
classification and analysis of data.

Students should know to draw Constructing graphical charts manually and

different types of graphs & electronically Spreadsheet design
diagrams
Assignment Grading Summary (To be filled by the Assessor)
Grades Grade Descriptors Achieved Yes/No (Y / N)
P A Pass grade is achieved by meeting all the requirements defined.
M1 Identify and apply strategies to find appropriate solutions.
M2 Select/design and apply appropriate methods/techniques.
M3 Present and communicate appropriate findings.
Use critical reflection to evaluate own work and justify valid
D1
conclusions.
Ability to anticipate and solve complex tasks in relation to the
D2
assignment.
D3 Demonstrate convergent, lateral and creative thinking.

OVERALL ASSESSMENT GRADE:

TUTOR’S COMMENTS ON
ASSIGNMENT:
SUGGESTED MAKE UP PLAN
(applicable in case the student is
asked to re-do the assignment)
REVISED ASSESSMENT GRADE
TUTOR’S COMMENT ON
REVISEDWORK (IF ANY)
Date: Assessor’s Name / Signatures:
Questions:

Q1. A milk vendor sells sweetened milk after bottling it. He is assured of selling 40
bottles every day to his regular customers, while the maximum number he could
sell is 80 bottles. On the basis of his experience he calculated the probability of
demand per day as follows:

Demand(bottles) 40 50 60 70 80
Probability of 0.1 0.2 0.4 0.2 0.1
demand

Milk costs him Rs 8 per litre and he spends Rs 4 per litre for sweetening and other
overheads. After bottling it in 250 ml bottles, he sells it for Rs 8 per bottle. If any
bottle remains unsold at the end of the day, the contents are thrown away. Any
day’s demand is independent of the previous days.

a) What is the optimum number of bottles he should stock every day?

b) Find the maximum expected profit for this order.

Q2 A Company wishes to invest Rs 10,000 in a machine that will yield an income

stream of Rs 1,200 per year for the next 8 years. If the future incomes are
discounted at the rate of 8% p.a., find whether or not the investment is worthwhile
or not?

Q3. A Project costing Rs 1 lakh in year 0 is expected to earn Rs 30,000 in year 1,

Rs 35000 in year 2 Rs 28,000 in year 3, Rs 20,000 in year 4 & Rs 15,000 in year 5
Calculate the internal rate of return and give your comments.

Q4 The average daily sales of 500 branches were Rs 150 thousand with a standard
deviation of Rs 15 thousand. Assuming the distribution to be normal, find how
many branches have daily sales.

(i) More than Rs 160 thousand.

(ii) Less than Rs 145 thousand.
(iii) Between Rs 120 and Rs 165 thousand.

From the data given below, state which series is more consistent?

Class 10-20 20-30 30-40 40-50 50-60 60-70

Series A 10 18 32 40 22 18
Series B 18 22 40 32 18 10
Q5. (a) Solve the system of equations:

i. 2x-y=3 ½
5x+6y=8 1/3

ii. x-1 + x+1 = 1 ½

x+1 x-1

(b) Solve the system of following equations:

iii. X+y+2z=1
2x-y+z=3
x +2y-z=7

iv. x-2 + x+2 = 2 1/2

x+2 x-2

Q7. Case Study

Paterson & Brown Plc is a small manufacturing company which sells its products through
five Sales Representatives, each of whom is assigned to a different geographical area.
The Representatives receive a monthly salary which is supplemented by a quarterly
bonus if they exceed the sales targets set by the organisation. Every month the Senior
Clerk of the Sales Department collates the sales statistics for the department as a whole
and for each of the five Representatives. At the end of every quarter the quarterly sales of
each Representative are compared with his/her sales target and the information presented
to the Sales Manager for calculation of any bonuses.
Comments were made by senior management to the Sales Manager, at the beginning of a
new financial year that his department was not operating at maximum efficiency. They
indicated that there were two areas requiring attention.
The first of these was the need for an improvement in the speed and effectiveness of his
decision-making. This, they felt, was of particular importance given the competition they
were facing from other organisations. The second area they highlighted was the need to
increase the productivity of the Sales Representatives in general and of some of them in
particular. They indicated that the Sales Manager should work towards increasing the
targets for each Representative.
After a discussion with a friend, who occupies a similar post in another organisation, the
Sales Manager decided that one thing which would help improve the speed and
effectiveness of his decision-making would be a more efficient presentation of the
monthly and quarterly sales statistics. He also felt that this would increase the
information available to the Sales Representatives and could be used in the campaign to
increase productivity. He decided that the information should be presented in graphical
form rather than in written or tabular form as at present. He therefore called in his Senior
Oerk, who collates and processes the statistics, and discussed how best graphically to
present the departmental statistics to provide the current information but, at the same
time, to increase the general efficiency of the department.
1. He stated that he required:
To be able to compare at a glance the trends of the actual total sales with the
Target total sales over a period of six months;

2 To be able to compare the actual quarterly performance of any of the

Representatives with his/her quarterly target; to be able, each quarter, to provide
each Representative with information on how his/her sales for that quarter
compared with those of the other Representatives and with the quarterly sales as a
whole.
The figures for the previous six months were as follows:
Sales Representative A
Target sales = Jan £1200, Feb £1600, Mar £1700, Apr £1500, May £1400, June
£1600
Actual sales = Jan £1300, Feb £1500, Mar £1800, Apr £1700, May £1500, June
£1800
Sales Representative B
Target sales = Jan £2100, Feb £2300, Mar £2200, Apr £2100, May £2100, June
£2400
Actual sales = Jan £2100, Feb £2300, Mar £2100, Apr £2200, May £2200, June
£2300
Sales Representative C
Target sales = Jan £1500, Feb £1700, Mar £1600, Apr £1500, May £1600, June
£1700
Actual sales = Jan £1700, Feb £1600, Mar £1700, Apr £1700, May £1000, June
£1600
Sales Representative D
Target sales = Jan £1300, Feb £1500, Mar £1700, Apr £1400, May £1500, June
£1600
Actual sales = Jan £1500, Feb £1100, Mar £1400, Apr £1600, May £1600, June
£1500
Sales Representative E
Target sales = Jan £2100, Feb £2200, Mar £2300, Apr £2000, May £2200, June
£2400
Actual sales = Jan £2000, Feb £2300, Mar £2300, Apr £2200, May £2200, June
£2400
Questions:
Q1. Analyze the case and decide which types of graphical presentation would best
Meet the stated requirements of the Sales Manager.
Q2. Produce manually an appropriate graph/chart to meet each of the stated
Requirements of the Sales Manager (i.e produce a total of three graphs/charts).
Q3. Using a computer:
i. design a spreadsheet which will enable you to produce a series of
graphical presentations to meet all of the stated requirements of the
Sales Manager; and

ii. produce appropriate graphs/charts to meet each of these requirements

(i.e produce a total of three graphs/charts).