Quantitative Methods for Managers Assignment Instructions Due dates: Please refe

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Jan 18, 2023

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Quantitative Methods for Managers
Assignment Instructions
Due dates: Please refer the due date in GaView.
Purpose: The purpose of this assignment is to provide an opportunity for you conceptualize problems
with an appropriate analytical framework.
Skills: Upon completion of this activity, you will be able to:
• describe the quantitative analysis approach and its applications
• use of statistical and analytical modeling in quantitative analysis
• prepare a quantitative analysis model
• recognize possible solutions in using quantitative analysis
Knowledge: This assignment will help you understand:
• differences in quantitative and qualitative analysis.
• business analytics classification.
• Break-even point as an analytical model.
Task: Please see page 2
Criteria for success: Please see the grading rubric in GaView.
You can discuss the questions with colleagues. But you are not allowed to share your work.
Alike assignments will earn a grade of 0 first time.
Alike assignments will lead to an F in the course second time.
Previous semester assignments will earn a grade of 0 first time.
Previous semester assignments will lead to an F in the course second time.
Sources and Plagiarism
Cite your sources (i.e., websites, books, magazines, etc.)
Answers without sources will not earn grade.
Plagiarism: To use the same words as your source.
Plagiarism leads to a 0 in the assignment. No matter if it is only a sentence.
Be organized and professional.
Present all work in ONE .pdf or .docx file. Zip files, Excel files, image files are not accepted.
Consistent formatting is expected (Line spacing, margins, fonts, numbering, etc.)
Answers must be presented in sentences with correct grammar.
Answers without proper support will not earn any grade.
Include calculations when necessary.
Refer to appendices when explaining your answer.
Type the answers. Non-typed answers are acceptable only in calculations and figures.
When a software is used for calculations, show screen captures as supporting work.
When a software is used for calculations, provide the file with calculations separately.
MGMT 6108: Quantitative Methods for Managers
Question/answer examples
Question 1: How many Daejo leaders are located in the state of Texas?
Unacceptable answer: 9.
Acceptable answer: Currently there are 9 dealers in the state of Texas.
Note: Answers need to be presented in a professional and nice fashion.
Questions 2: One of the best sellers at a paint store is an Iron-coat paint. The annual demand is
forecasted as 10,000 gallons. The carrying cost is $0.75 per gallon. The ordering cost is $150 per order.
How much paint should be ordered each time?
Unacceptable answer: 2000.
Acceptable answer: The paint store should order 2,000 gallons each time. Calculations below show how
the answer was obtained:
2,000
0.75
2 2*150 *10,000
= = =
c
o
C
C D
Q
Note: Answer is professionally presented. Calculation details are shown using Microsoft equation editor.
Task: Answer following questions
1. [10 points] What is the difference between quantitative and qualitative analysis? Provide one
example each for appropriate use of quantitative and qualitative methods. Explain why the
method is suitable for each example in few sentences. (100-300 words).
2. [10 points] What are the three categories of business analytics? Briefly explain each category in
one or two sentences.
3. [20 points] Describe a situation where you came across (in your professional or personal life)
where quantitative analysis is essential for decision making. What methods did (or could have
been) used for the situation. Post your answer in the “Lesson 1 discussion”, too. Comment on one
(or more) discussion post of another student discussing whether you agree with the suggested
analytical methods are suitable for the situation or not. (100-300 words).
4. [20 points] After closing her beloved restaurant due to the pandemic, Kiki started to sell her
signature sauces to consumers. The ingredients for a sauce bottle cost $1.25 and packaging costs
another $0.50. A distribution company handles the storage and distribution of the sauce and
charges $0.75 or each bottle. Kiki has calculated that the overhead cost is $5000 per month. She
sells one sauce bottle at $5.00 to the customers.
a. How many sauce bottles must Kikisell to break-even? What is the total revenue for breakeven? (Show all calculations to earn full credit)
b. If she can sell only 1000 bottles, what should be the selling price to break-even?
MGMT 6108: Quantitative Methods for Managers
5. [20 points] Gary’s Seasoning wants to increase its capacity by adding more blending and packaging
machines. Two vendors have presented proposals. Vendor A’s equipment costs $11,500 and the
variable cost per unit is $2.00. Vendor B’s equipment costs $13,500 and the variable cost per unit
is $1.75. Selling price for each seasoning packet for $4.00.
a. What is the break-even point for each proposal?
b. If the expected volume is 7,500 packages, which vendor should be chosen? (Show all
calculations to earn full credit)
6. [20 points] Ray Holt seeks an investment for his new business. The investor will bear all the costs
(fixed + variable) and wants a rate of return of at least Y%. For the business fixed cost is Fc, selling
price of a unit is Sp, and Cost of production of a unit is Cp. How many units, x, should Ray Holt make
to meet the investor’s rate of return requirement? If the requested rate of return is 10%, fixed
cost is $10,000, selling price is $5, and cost of production is $3, how many units should be made?

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