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Activity 1

Prepare to work with your team and complete the following: 

1. Consider several strategies to ensure each team member has input into the planning process. 

As organizing both the task work and team work will be required. The task work agrees through how teams achieve work task whereas the team work agrees through how teams work along every other and along with their team members. By these strategies the team will spend their time into planning these activities earlier than beginning of work on task at hand (Nederveen Pieterse, et al., 2013). The team thinks about the planning activities to be small priority, but in actuality, putting time into these kinds of activities direct can direct to important performance gains and decreased procedure loss in extensive way.

1. Consider several ideas for policies to ensure team members take responsibility for own work. 

There are various ideas for the policies to make sure the team members take dependability for their individual work. This includes:

• Identify needs
• Identify which will acquire lead liability
• Collect information
• Draft policy
• Consult with suitable stakeholders
• Finalise / support policy
• Reflect on whether procedures are needed
• Implement
• Monitor, evaluate, modify

1. Consider team goals and how team can achieve goals. 

Goals must be as follows:

• Increase work performance
• Treat training process
• Projects must be completed on time
• Increase team status
• Explore individual talent

These can be made SMART that is specific, measurable, attainable, relevant and time based by professional development.

The team can achieve goals by these following steps taken in account:

• Know what you want to achieve
• Put goals at team stages
• Let people develop their own goals
• Put deadlines
• Track development on goals
• Assist people meet up their goals
• Find out from the fault (Franz, 2012). 

1. Consider strategies for gaining consensus among your team. 

To gaining consensus between the team, each staff have to attend meeting to discuss about the project. All members of team give their own ideas, present them in front and team leader will do synthetic ideas then make judgment how to execute the project. The team will select the solution by raising hands with good ideas.

1. Consider group behaviour and how best to present your ideas and work effectively within the group. 

Set up the group guidelines 

Discuss the group tasks and activities to reach at the shred understandings

Brainstorm to build ideas, plans and tasks for group

Communicate effectively with team members

Keep good records

Build consensus (Boies, et al., 2015). 

1. Review the observation report in Appendix 3 to ensure that you are familiar with the team performance expectations. 

The observation report has been reviewed completely. The team performance will meet their expectations and fulfilling all the requirements of the team effectiveness.

1. Prepare to take notes to provide evidence of team meeting

Time: 10: AM 

Venue: Meeting room

Be organized – prepare and plan for the session

Know your place

Know your company

Assemble access to all required documentation for this process

Be ready to ask questions

Be ready to be asked questions (Gomes, et al., 2014).

The notes for team meeting is based on the  team participation, so that encourage other to delivered certain suggestion based on the asked topic, appreciation for the suggestion, documenting the favourable suggestion and idea. Discussion and brain storming activities to reach conclusion of the overall meeting.

Activity 2

In team meeting, consult to establish ground rules for teamwork: 

1. proposes and agree on strategies for ensuring participation of team members 

The approaches for ensuring contribution of team members will include opportunities for establish a mission, self-development, Foster collaboration within a team, encourage teamwork, set clear goals, encourage safety and communicate effectively, act on great ideas, give feedback and ask for feedbacks and celebrate success.

1. develops policy and procedures to ensure team members take responsibility for own work; these should contain ground rules for group work to ensure fairness and high performance.

There are various types of policies and procedures to make sure team members take dependability for own work will be:

• Identifying needs with listening others
• Gather all information with respect to all data
• Draft policy with respect to organization
• Consult with the suitable stakeholders that feel involved
• Finalise and approve policy with respect to company
• Consider whether procedures are required without any prejudice
• Foster diversity of culture, ideas and perspectives and making team decisions (Liu, et al., 2015). 

Activity 3

Discuss and determine team goals and how goals can be achieved.

Team goals will give consumers the better services; make them happy by selling quality products, good price and ready to fix any weakness from customer’s feedback.

To attain all the goals, the SMART goals need to be set up that are Smart, measurable, attainable, relevant and timely.

Specific: Specific goals will be goal that includes an action plan outlining how they will attain the goal and a performance measures that will helps in telling them that they are successful or not.

Measurable: Measurable goals help in identifying what you will observe, hear and sense when you reach your goal. It means break down your objective into measurable elements. The concentration on the evidence will be needed. As by defining the physical manifestations of their goals or objectives will makes it clear and simpler to reach.

Attainable: This means that identifying that the goals are accurately acceptable to you or not.  They consider effort, time and other costs their goals would take alongside profits and other responsibility and priorities they have in life (Zhou, et al., 2015). 

Relevant: They have to plan some training if they are lacking in various skills. If they lack various resources, they can look for methods of getting them.

Timely: Make the tentative plan for everything they do. They must have to keep the timeline realistic and flexible. By keeping this will help in motivating the employees

Activity 4

Determine outcomes, outputs and KPIs for each team member 

Store General Manager

Items	Outcomes and KPI’s
Responsibilities	For allocating the zone of the investigation to the workers & employees, the supervisor will be held responsible As the group is seeking advice from the specialist, so the group will be held responsible. Design the financial services as per the consumer requirements
Quality Standards	Help the senior manager to complete the consultation Identify the issues and maintain close cooperation among them professionally and rationally.
No. credible sources	Team performance plan, financial plan, marketing plan and report
No. of network contacts	Social media websites
No. of hours spent on research	240 hours
No. of input team meetings	Presentation of ideas Discussion in team meetings Collide resolution in team environment Team performance management
No of team training can be conducted to improve the performances of other team members	3 training sessions

Sales supervisor

Items	Outcomes
Responsibilities	Propaganda Establish and improve the network of organization Responsible for information of company Ensure the security management
Quality standards	self-development and maintain the quality of products controls the indirect and direct cost of the products when manufactured
No. of credible sources	Business plan, HR plan, marketing plan and report
Feedbacks and reviews	Customer and supervisor reviews and feedbacks (Dingsøyr & Lindsjørn, 2013).

1. Ensure work is fairly distributed among team member 

The work has been reasonably distributed among all the team members with the priority, skill sets, and availability of work, development and area of interest in the Australian hardware organization.

Activity 5

Determine and agree on specific duties to support team members with assigned responsibilities

The duties to support team members with their assigned responsibilities are:

Support in team Store Supervisor, it is beneficial for undertaking the task effectively and delivered better direction to the employees.

Given a goal and repair procedure, maintenance of consumer products, this will leads to attainment of the goals and the repair procedure will leads to manage the problem in an efficient manner to attain the goals.

Training and the assignment of the new staff on new plan, the training will help in familiarizing with the system and the role of the particular position that has been appointed for. The training enable new development and enhancement within the employees.

Delegating the work for each member, it helps in eliminating confusion and access support and clear direction from the manager under the whom the task has been delegated to.

Resolving the encountered problems, the problem will be resolve through team engagement, by fostering the team cohesiveness and consensus the problem will be resolve within the certain meeting.

Make decision, after managing all the affair and decision the manager will leads to collaborate certain decision effectively with the help of decision making activities.

Support in Store team manager

Follow up the consumer related problems 

Adhere customer operations department policies and procedures

Offers the consumer with the higher recommendations (Fapohunda, 2013)

Maintaining consumer loyalty and satisfaction

Support in Employee

Maintenance and delivery of products

Meeting up the deadlines

Keep the work on track

Activity 6

Develop an individual performance plan in consultation with your team to help achieve team goals.

	Action 1	Action 2	Action 3
Description	Assembling knowledge and understanding the present framework for establishing the business online	Designing of gateway that is easily accessible & explorable on search engines to make the website reachable to buyer.	Appraisal of our scheme and buyer’s response
Dependencies	The action depends on the way the market is examined & scrutinized	It completely depends on the authority in designing of the company’s gateway.	It is based on the peak administration of the occupation and also on the employees & workers
Timeline	Timeline required for this crucial task is 1-2 months as judgement is demanded.	Timeline will be 15-20 days which can be extended if required	It should be completed within one month followed by the beginning of online business
Responsibility	For allocating the zone of the investigation to the workers & employees, the supervisor will be held responsible	As the group is seeking advice from the specialist, so the group will be held responsible.	For both of the above-mentioned action, the supervisor will be accountable.
Resources	The resource will be the market since information is assembled from the market.	When company’s web portal is designed, the resources will be computer, inverter, network, etc.	The way the market is observed & judgement of the scheme whether it got over in accepted way or not.
Review dates	20 days succeeding the beginning of the task.	5 days succeeding when the work got started.	15 days succeeding the beginning of the survey in pre-deciding to consequences.
Measurement: KPI; Outcome	Further steps will be executed after assessing the outcome of the survey	It is uniform in the perception that how uncomplicated it is for the use of buyer. They can easily explore the product according to their needs and desires.	The response of the buyer to be measured after providing the services whether the response is related to company’s gateway, delivery, quality of product, payment mode, etc (Ajala, 2012).

Activity 7

Ensure each team member completes the observation report, included in Appendix 3, to provide evidence on your team performance

Assessment 1 – Observation report for Candidate:
Did the candidate propose and agree on strategies for ensuring participation of? team members?		Y
Describe how: He was very participative and although he did not agree with entire ideas, he was supportive.
Did the candidate help develop policy and procedures to ensure team members? take responsibility for own work?		Y
Describe how: He helped develop policies and procedures to ensure team members take responsibility for own work by identifying, gathering, drafting, finalizing and monitoring the policies and procedure.
Did the candidate work with group to determine common understanding of organisational requirements and team goals?		Y
Describe how: He was very direct and had every time a clear comprehension of the requirements and goals that was very useful in other team members to recognize and attain our objectives.
Did the candidate work with group to determine and agree on specific duties to? support team members with assigned responsibilities?		Y
List the Candidate’s support duties: Support giving ideas, search information’s and help other team members
Did the candidate demonstrate knowledge of group behavior and how to gain? consensus and work within groups to enhance team effectiveness?		Y
Describe how the Candidate demonstrated this knowledge in their interactions with the team: Sometimes he was talking more than others but he was a good listener.
Team member/observer’s name:	Signature and date:
Candidate’s name:	Signature and date:

Activity 8

Meet with your assessor to discuss your participation in team activities.

Time-10:00 AM

Venue- Meeting Room

Respected members that are present here, it is the performance plan that is prepared after a deep analysis of the present time situation and also keeping the demands of future of the Australian Hardware store into consideration.  The team participation is essential for developing the engagement in between team and the manager for better and effective decision. The team decisiveness leads to full cooperation and coordination while attaining any task. So, Kindly study the objectives, requirements, actions, and strategies proposed to achieve our goal. I also invite the improvements in this plan. 

Thank you

Activity 9

I have submitted all the documents as per the specifications below:

a). Thorough performance plan  

b). Team policy and procedures 

1. c) team meeting/s notes
2. d) Observation reports from each team members (Young, et al., 2015). 

References

• Ajala, E. M. (2012). The influence of workplace environment on workers’ welfare, performance and productivity. The African Symposium.
• Boies, K., Fiset, J., & Gill, H. (2015). Communication and trust are key: Unlocking the relationship between leadership and team performance and creativity. The Leadership Quarterly, 26(6), 1080-1094.
• Dingsøyr, T., & Lindsjørn, Y. (2013, June). Team performance in agile development teams: Findings from 18 focus groups. In International Conference on Agile Software Development (pp. 46-60). Springer, Berlin, Heidelberg.
• Fapohunda, T. M. (2013). Towards effective team building in the workplace. International Journal of Education and Research, 1(4), 1-12.
• Franz, T. M. (2012). Group dynamics and team interventions: Understanding and improving team performance. John Wiley & Sons.
• Gomes, J. O., Borges, M. R., Huber, G. J., & Carvalho, P. V. R. (2014). Analysis of the resilience of team performance during a nuclear emergency response exercise. Applied ergonomics, 45(3), 780-788.
• Liu, M. L., Liu, N. T., Ding, C. G., & Lin, C. P. (2015). Exploring team performance in high-tech industries: Future trends of building up teamwork. Technological Forecasting and Social Change, 91, 295-310.
• Nederveen Pieterse, A., Van Knippenberg, D., & Van Dierendonck, D. (2013). Cultural diversity and team performance: The role of team member goal orientation. Academy of Management Journal, 56(3), 782-804.
• Young, W., Davis, M., McNeill, I. M., Malhotra, B., Russell, S., Unsworth, K., & Clegg, C. W. (2015). Changing behaviour: successful environmental programmes in the workplace. Business Strategy and the Environment, 24(8), 689-703.
• Zhou, W., Vredenburgh, D., & Rogoff, E. G. (2015). Informational diversity and entrepreneurial team performance: moderating effect of shared leadership. International Entrepreneurship and Management Journal, 11(1), 39-55.

Assessment 1 – Knowledge Assessment (Written Tasks)

1.1 Introduce Best Sustainability Practices into Workplace.

After getting the training about several sustainability interventions the further step is related to building the idea about several aspects essential for sustainability approach of the organization which mainly includes: 

• Be intended about sustainability 
• Partner with employees
• Water as well as electric preservation
• Effectual supply chain (Haseeb, et. al., 2019 ) 
• Cultivate a recycling program
• Chemical management 
• Consumption of only energy efficient products
• Cultivate sustainability work policies

1.2 Sources to Locate New Information About Sustainability Changes and How Should Identified Changes Be Communicated to Employees

The sources to locate the information about sustainability changes relates to the usage of inline media portal and official website of the company. This ensures to make employees and stakeholders understood about business process. 

The communication of change with employees could be processed by attaining meetings and group discussions (Selig, 2018). This will provide with the idea of handling their doubts and information process effectually. 

1.3 Why WHS Should Be Considered When Introducing New Sustainability Initiatives

This could be analysed that sustainability intends to build the practices which includes effectual usage of material resources, waste and environmental degradation. The interventions of such aspects most of the times creates certain influences which might hamper the health care perspectives to be challenged. In this specific approach WHS strategies helps to build the changes essential for business growth. 

1.4 Why Is It Recommended That Sustainability Policy Development Is Done Using a Continuous, Iterative Approach?

The sustainability approaches ensure to build the workplace aspects managed only the environment friendly perspectives. This could be analysed that more the business will attain the contributes improvements values more it will ensures to build the changes and development. The continues values as well as timely interventions helps to measure the changes and procedures necessary to be gained on the broader context (Husgafvel, et. al., 2018). This also helps to maintain the evaluations and values which somewhere provides with the significant idea to let the development be measured efficiently. On the other hand, ensures to identify the evaluations significantly. 

1.5 Sustainability Principles, Practices, Systems, Techniques, Procedures, And Tools That Can Be Used to Implement ICT Sustainability Improvements Within a Business.

The Principals of Sustainability are the foundations which provides with the idea about concept associated with the specific approach. This mainly includes: 

• Economical Perspectives which ensures financial values. 
• Society Perspectives which helps to measure customers as well as employee’s needs. 
• Environmental Perspectives ensuring the business values and evaluation. 

There are several Sustainability Practices which provides with the idea of determining about the business perspectives essential to be measured on the broader run. 

• Implementation of recycling program 
• Energy conservation in the workplace 
• Promotion of paperless work environment
• Collaboration green vendors 
• Reduction by reuse (Salunke, et. al., 2019)
• Investment in the office plants 
• Conservation of human energy 
• Encouragement of sustainable transportation 
• Intervention of outsiders and volunteers 

The Sustainability System mainly includes the variants which provides with the idea of managing several functions associated with the environment. Along with that, includes the perspectives to manage economic and operational values on the broader context (Distanont and Khongmalai,  2018). This also ensures to measure social and human resource engagement in the workplace. This aims to regenerate the resources utilized in working environment. 

There are several Techniques which could be comprised in terms of building the sustainability interventions on the broader and effectual context. 

• IoT integrated automated systems
• Grid hybrid system
• Solar thermal cladding

There are several Sustainability Procedures which provides with the idea of building the information and evaluations required to be measured and gained on the broader context. 

• Inspire workforces to use public transport 
• Change to eco-friendly office lighting
• Switch to post-consumer waste (PCW) paper, paper products, as well as packaging
• Develop intricate in community

There are several Sustainability Tools which helps to build the changes and interventions required to be measured and initiated on the broader context. These are the factors providing with the idea of engaging the interventions necessary to be determined. 

• Life Cycle Assessment (LCA)
• Social Life Cycle Assessment (SLCA)
• Life Cycle Costing (LCC)
• Life Cycle Sustainability Assessment (LCSA)

These are specific approaches which could be used while initiated the sustainability interventions in the workplace (de Guimarães, et. al., 2018). This could be determined more the business values will be enhanced and managed by the suitability attributes more it will be helpful to measure the changes and evaluations on the broader context. 

1.6 Commonality Between Lean Operations and Reduce Waste. 

Lean operation includes the approaches which provides with the idea of attaining certain changes and evaluations which ensures to build better customers interventions. This provides with the advantages of attaining effectual waste management. The effectual lean operations provide with the idea of handling the changes and procedures necessary to measure the workplace engagement. Some of the procedures of lean operations which helps to attain better waste management are: 

• Moderate waste triggered by extra inventory as well as over-production. 
• Decrease labour expenses linked to preventable motion
• Lessening transportation-related waste
• Moderate over-processing waste

1.7 Best Practice Approaches That Can Be Implemented to Introduce Sustainability Solutions When Implementing ICT Projects.

This could be defined that the ICT projects attains the values and interventions necessary to be measured by the changes and moderate influences required to gain the modifications. There are several approaches which could be used to resolve the challenges and issues allied with the project intervention. 

• This is necessary to focus on three major interventions which mainly incudes governance science, sustainability science and data science. 
• This is necessary to attain proper decision making aspects so that the changes and procedures could be handled efficiently (Haseeb, et. al., 2019). 
• Several theoretical framework and values are necessary to be measured and initiated in terms of building the development on the broader context. 
• The aspects get influenced by human behaviour so the changes and values are essential to be measured efficiently. 

1.8 Assess Sustainability Policy Development Processes and Practices That Organizations Implement.

This could be determined that sustainability development process and practices makes broader interventions over the values and objectives associated with the business culture. 

Sustainability policy development processes are: 

• This is necessary to recognize the future agenda and seize of the momentum which provides with the idea of building broader changes. 
• This is also necessary to attain clear implementation of the mechanism and accountability channels on the both national and subnational levels. 
• Allocation of the effectual funds required to accomplish the sustainable development goals (Selig, 2018). 
• Proper communication about different sustainability changes necessary to be processed on the broader context. 
• Attaining the effectual and broad participation. 
• Necessary to take the responsibility of several associated tasks. 
• Reverence the collective, interwoven and inseparable nature of the agenda.

Sustainability policy development practices are: 

• Cost reduction 
• Green distribution channel
• Education and training support to employees 
• Work safety parameters

1.9 Explain Why Many Modern ICT Organisations Are Adopting Sustainability Systems and Procedures, Like Environmental KPI Reporting.

This could be determined that the environmental KPI reporting provides with the idea about different aspects necessary to measure and maintain the environmental perspectives on the broader context (Husgafvel, et. al., 2018). The current suitability system provides with the environmental management along with the waste management and safety parameters necessary for employees. Attaining different values on the significant approach attracts modern organization to measure this specific approach. 

1.10 Calculate The Average Monthly Power Cost of Running the Server.

The calculation follows as below:

Dell PowerEdge R610 server with dual power supply runs for – 24 Hours 

Watts used by device – 1400 watts/per hour 

Current cost – $0.35 per KWh

Device Wattage (watts) x Hours Used Per Day = Watt-hours (Wh) per Day

1400*24 = 33600 Wh

Device Usage (Wh) / 1000 (Wh/kWh) = Device Usage in kWh

33600/1000 = 33.6 kWh

Daily Usage (kWh) * 30 (Days)

33.6 * 30 = 1008 kWh/Month 

Estimated cost for one month = Current cost * Monthly usage 

                                                      0.35 * 1008

                                                      $352.8.

1.11 Summarise The Power Consumption and Energy Audit Methodology? How Would an Energy Auditor Conduct an Audit Which Satisfied the Requirements of AS/NZ 3598?

There are basically two types of power consumption and energy audit methodology which provides with the broader idea of dealing with the cost values and aspects efficiently. 

Preliminary Energy Audit Methodology

• Establishing energy consumption in the workplace. 
• Estimation of the saving scope
• Identification of most likely area of attention.
• Identification of immediate improvements. 
• Set the reference point (Salunke, et. al., 2019).
• Identification of areas for more detailed study 
• Usage existing of easily available data.  

Detailed Energy Audit Methodology

The energy audit methodology includes the values and interventions which provides with the broader idea of introducing the changes necessary for analysing the current energy consumption balance. This mainly includes three phases which are: 

• Phase I – Pre Audit Phase 
• Phase II – Audit Phase 
• Phase III – Post Audit Phase

1.12 Explain the Concept of Life Cycle Assessment.

The life cycle assessment attains the techniques and values which provides with the idea of environmental impacts allied with the stages product life including raw material removal over and done with materials handling, production, dissemination, as well as usage. This mainly includes: 

• Goal and Scope Definition: This is necessary to build the goal and scope definition which provides with the idea of building the changes on the broader context (Distanont and Khongmalai, 2018).
• Inventory Analysis: This is also necessary to have proper resources and inventory management which ensures to build better and effectual changes. 
• Impact Assessment: This is necessary to build the idea about impact and change approaches necessary to be gained on the effectual aspects. 
• Interpretation: This is also necessary to build the interpretation and values necessary to gained and measured on the broader context (de Guimarães, et. al., 2018). 

References 

1. de Guimarães, J.C.F., Severo, E.A. and de Vasconcelos, C.R.M., 2018. The influence of entrepreneurial, market, knowledge management orientations on cleaner production and the sustainable competitive advantage. Journal of cleaner production, 174, pp.1653-1663.
2. Distanont, A. and Khongmalai, O., 2018. The role of innovation in creating a competitive advantage. Kasetsart Journal of Social Sciences.
3. Haseeb, M., Hussain, H.I., Kot, S., Androniceanu, A. and Jermsittiparsert, K., 2019. Role of social and technological challenges in achieving a sustainable competitive advantage and sustainable business performance. Sustainability, 11(14), p.3811.
4. Husgafvel, R., Linkosalmi, L., Hughes, M., Kanerva, J. and Dahl, O., 2018. Forest sector circular economy development in Finland: A regional study on sustainability driven competitive advantage and an assessment of the potential for cascading recovered solid wood. Journal of Cleaner Production, 181, pp.483-497.
5. Salunke, S., Weerawardena, J. and McColl-Kennedy, J.R., 2019. The central role of knowledge integration capability in service innovation-based competitive strategy. Industrial Marketing Management, 76, pp.144-156.
6. Selig, G.J., 2018, August. It Governance—An Integrated Framework and Roadmap: How to Plan, Deploy and Sustain for Competitive Advantage. In 2018 Portland International Conference on Management of Engineering and Technology (PICMET) (pp. 1-15). IEEE.

• You start by sorting out the detailed requirements presented to you by John. Highlight the main enterprise data security requirements you will need to consider.

As the information provided to me by john was all verbal and I need to develop a requirement set myself. There are many major data security requirements I should consider, the chief and important among these is to make data accessible and useful. I should keep in mind that there is a need to put data to fuel decisions and shaping company direction. This means that data should be in the form where it is secured and still accessible to users (Abouelmehdi, et. al., 2017).

The major requirements that I should keep in mind are:

• Data must be standardized i.e. converted into useful forms and is user friendly as well as secured.
• Data should be efficient and beneficial in the company’s financial growth.
• Adopting the culture to provide quality data would be beneficial for us.
• The major I should focus is on security, as per the previous company’s experience this point is a must to keep in mind while working.

• In your requirements analysis, Which encryption method will you choose and why?

Data encryption translates your data into another form of code that is only accessible by the person you want with the help of some secret keys or passwords. Using week data encryption can cause huge damage to your company as well as its damage to your customers too. As I am working on it I will decide to use the best and secured method to encrypt data. The encryption method I will use should have five security levels, transmission security, data security, system security, application security, and physical security (Cheng, et. al., 2017)..

Important factors from which I will choose the best method of data encryption are:

1. Encryption method should easy to use: ease in using a method can help us to secure our data in the best way, and it reduces the accidents in configuration or misuse of a feature.
2. Automation: many of the events are automated to prevent mistakes occurring. I will also check whether the automation options within the encryption method flexible enough to be easily modified if conditions change.

2.2.3    Key storage: I will make sure that the encryption method I am choosing has enough storage so that data can be stored and who could potentially access it.

2.2.4    If the encryption keys are available to the cloud infrastructure they should not be considered as secured.

The encryption method fulfilling all these needs is best, and I will choose that one.

2.3 Highlight some points that you have considered.

While presenting my proposal to john, here are some factors which I will keep in mind while I am going to present my assessment which is as per ABC requirements:

1. Usability: the system would be user friendly for all the members of staff who need to access it. We should look for the suitability of every member accessing the system.
2. Security: as per the company’s previous experiences security is the major issue they were facing. As per there are many security issues, protection of data from physical factors as well as from the risk of hacking are both important levels of security.
3. Functionality: the functional modules as per ABC requirements are automation, forecast strategy, result visualization, exact and filter data, campaign planning, and ROI management.
4. Development and support: making sure that there are some development plans with selected software so that we will be confident that it will definitely grow with emerging technologies.
5. Scalability: data should be regularly planned so that it would be easy to manage millions of data even though your requirements are not huge right now, still it’s better to have scalability.
6. Visualization and reporting: It’s important to having a check for any queries and reviewing the data as the ease of visual analysis and displaying results (Tebaa, et. al., 2015).

2.3 What guidelines will you follow in order to successfully implement your plan?

As a successful collaboration across teams to define a plan for moving forward. Invoke relevant executives to get their support and securing a budget and driving plans for the betterment of the company. These are some guidelines which I should follow while implementing my plan. Choosing an encryption provider, with centralized key and policy management allows us to scale easily in the future and exploring encryption techniques. Also, I will identify high value for data for encryption prioritization, this stage in this process may be complex and time-intensive at this time but it would probably play a major role in the future growth and success of the company and definitely provides us with the path of success. Well there is an important role of staff in implementation of this plan, as teamwork is the key point towards the growth of any company. They should plan to take out the responsibilities according to their skills, and the main thing is the staff members should not share the working process to an outsider so that we all are confident enough about the security of data plans (Krippendorff, 2018). 

2.4 Explain how ABC should monitor, document, and notify future encryption issues.

Once we have our solution implemented and running, we need to continue to monitor for any outliers and violations. We should plan how our organization is moving more data over the cloud. Checking out with developers, users, and application owners who will influence more on how our company is operating. A solution provider with a broad product and services portfolio will better be positioned to advice, support, and will provide integrated solutions to grow our business (Aumasson, 2017). .

References –

Abouelmehdi, K., Beni-Hssane, A., Khaloufi, H., & Saadi, M. (2017). Big data security and privacy in healthcare: A Review. Procedia Computer Science, 113, 73-80.

Aumasson, J. P. (2017). Serious cryptography: a practical introduction to modern encryption. No Starch Press.

Cheng, L., Liu, F., & Yao, D. (2017). Enterprise data breach: causes, challenges, prevention, and future directions. Wiley Interdisciplinary Reviews: Data Mining and Knowledge Discovery, 7(5), e1211.

Krippendorff, K. (2018). Content analysis: An introduction to its methodology. Sage publications.

Tebaa, M., Zkik, K., & El Hajji, S. (2015). Hybrid homomorphic encryption method for protecting the privacy of banking data in the cloud. International Journal of Security and Its Applications, 9(6), 61-70.

Abstract

This paper explores Activity Based costing systems and discuss the costing system’s features briefly. It Identifies and explains why two different Australian organizations are acceptable for your chosen costing program. A Discussion for managers in each of the two organizations listed above the possible use of the cost information for decision-making. Based on the chosen costing report, summarize how real-life Company has built and applied the costing method. It discusses whether the costing system in the study meet the features discussed based on your selected costing article or not. Enter examples from your costing article in your answer. How useful was the cost information to internal users in the company based on your chosen costing article Speak to your costing article with examples. Two main lessons are given based on your literary results, educating contemporary organizations about the practical application of your costing method you choose.

Part A

2 Activity-based costing features

Activity-based costing attributes or traits are briefly explained below.

1. Overall costs are classified into two categories, i.e. fixed costs and variable costs, which are required to include quality details and develop a reasonable expense scheme in a production concern.
2. Cost behaviour patterns are properly distinguished.
3. Price activity trends are volume-related, diversity-related, time-related activities.
4. The required cost driver must be established to track overhead to a company.
5. Cost drivers dictate cost behaviour.

As a product of a collective insurance management system reform, an insurance provider has built a program to remove some of the clerical workload involved with renewal underwriting to maintain fair and reliable premium estimates (Keel, et al, 2017).

Instead of manually estimating renewal rates, underwriters type out coded program input papers, determining a renewal rate dependent on a set of common mathematical and actuarial assumptions. Because such conclusions might or do not extend to a given regulation, the underwriters evaluate documents surrounding the regulations to determine if the basic estimates extend. When not, the coding sheet is changed correctly and resubmitted.

2 

With $52 billion in sales and 123,000 workers, 97,000 in the United States, Chrysler turned out to assist ABC in converting a bureaucratic entity. In the 1980s, the car maker took major moves to boost operating efficiency, reduce costs, raise competitiveness and rejuvenate its model range. However, Chrysler eventually met up with such powerful rivals as Japanese automobile factories and Ford Motor Corporation. In the late 1980s, and his second in a decade, the financial crisis of Chrysler exposed the remaining amount of analysis (Akhawan, Ward & Bozic, 2016).

The leaders of Chrysler were dedicated to introducing a much more versatile, efficient, cross-functional and process-oriented system of the company’s hierarchical architecture. The organisation has been pressured to build its production teams for innovative goods and form stronger relations with manufacturers and distributors. In the late 1980s, they began to transform the organisation towards a process-oriented business, motivated by the early successes of teams.

The main spokesperson for using ABC to promote progress has been Lutz, who has helped the implementation teams and been the guiding force behind organising the whole firm around applications. He understood the difficulties of shifting employees and particularly of continued growth and a rise in sales in the automotive sector. He figured that ABC could support the method to show the expense and inefficiency of could operation.

The primary purpose of the old costing software was to help the department control the operations and the efficiency of inventories. However, some felt that the old system presented a good picture of the company’s costs, above and beyond accounting. Lutz was another sceptic. He was also frustrated during his time in Ford, BMW and Chrysler, as his creative suggestions regarding product design and changes to the development process were overlooked. Since corporate financial structures centred on direct expenses and relyed on predetermined expense measures such as overhead labour prices, he found they could not fairly evaluate his proposals. During Chrysler ‘s team roll-out, his grievances reappeared. Again, Lutz easily noticed that the company’s cost accounting system did not report running expenditures, far less disparity in value added and non-value-added transactions. He said, “This is my method,” whenever he saw an object on an activity-based costing.

3 

Safety-Kleen, which currently has 6,600 staff and $800 million sales, accomplished its exponential success by empowering facilities executives to behave as businessmen. Plant managers were liable for determining whether to treat the waste delivered to their plants; they might treat the material themselves or send it to another plant or, in certain instances, to a third-party distributor. But typically waste was merely transported to the closest Safety-Kleen facility, whether or not it could be handled at the lowest rate. In reality, Safety-Kleen didn’t realize its services and products’ true costs. Cost-accounting numbers’ main purpose was to help the accounting department keep the books, not to help operations do their job.

When the burden on earnings grew, so did the hostility of management and marketers against accounting, as they didn’t believe their figures. Operations and marketing started producing their own statistics to help capital spending, cost, plant usage, and process management decisions. Top management slowly noticed that the organization had to start basing decision-making around what would produce the most income for the whole business, rather than what would be better for a particular factory. To make these choices, the business required even more precise knowledge on its production costs, including how much manufacturing, storage, and storing a batch of goods would cost for each factory. The business wanted a completely different cost-accounting method.

As Safety-Kleen and Chrysler eventually launched ABC, each soon found so multiple workers — from field staff to top management to whole departments — resisted. Others believed ABC would alter the existing institutional system. Others were intimidated because they suspected ABC would expose inefficient processes concealed by conventional cost-accounting schemes. Some didn’t like ABC as it’s new. And several administrators, especially those who thought ABC had to resist because they realised there was an immense amount of construction work to do. 

Why Collecting ABC Information Is Big Job

This was not shocking that Chrysler workers accepted the ABC system at several of the first job places where it was implemented. Chrysler has a lengthy tradition of performance-improvement projects that never managed to achieve as they expected and were substituted as soon as a new system launched. The reality that one branch briefly attempted and discarded an ABC model in the mid-1980s following a shift of management further fuelled suspicion.

As Lutz predicted, as the economy rebounded, workers wondered whether the business had to adjust. In fact, with both plants running at full speed, line and middle managers debated whether they had the resources to gather results. Many employees also feared an unspoken motive to introduce ABC to eliminate jobs. Several business director personnel and certain facilities executives were similarly unenthusiastic. The old cost-accounting method influenced their expertise and cost-related analysis. We, too, believed that ABC was the new fad and that existence would remain largely unchanged until it died.

Part B 

1 

The initial resistance of Safety-Kleen was unusual partially because it was a mid-business fighter. ABC has begun with C the notion that Safety-Kleen might greatly improve. James Schulz, North American business manager who hired William J. Chaika, a test project for recycling centre assistants. The project was supported and approved by Schulz and Chaika ‘s supervisors — the business owner and chief financial officer — however Chaika was actively advocating the strategy.

Senior managers in Kentucky have chosen a pilot plant and they have planned to use the pilot plant in a significant field of production. They had to guarantee that they knew the actual cost of development of new multi-million dollar devices in the factory before they jumped in. Two Price Waterhouse analysts, one financial advisor, and two Safety-Kleen area controls recruited Chaika to deploy him in the ABC Device implementation phase. The problem began after they arrived. They were ordered to fail by the boss. There was no business for him to question him how his company could be run.

The manager told them to get lost whilst the accountants were in the Safety-Kleen New Castle factory in Kentucky.

The vice president of the recycling department, to which all plant managers related, and the five vice presidents responsible for one or more hazardous waste sources, all rejected Chaika. Operations and marketing have agreed that, but without clear objectives, the organisation would strengthen its policy making. Marketing needed information on selling prices and companies needed information on results. No party was satisfied regardless of its accounting roots. In comparison, the others felt the figures would challenge their turf. And the five communications vice presidents associated ABC with adjusting the ground rules and increasing the wages to calculate benefits.

Chrysler and Safety-Kleen encountered internal resistance after some initial obstacles, which acted as a model for other firms. Both businesses forced main workers to shake ABC equally and finally to adopt the method.

2

In comparison, Safety-Kleen, a small, fast-growing enterprise, switched to ABC because the accounting structure had expanded. In response to companies’ critical need to seek safe ways to recycle harmful waste, Safety Kleen was established in 1968. In one plant in Illinois the company began processing one sort of waste — mineral spirits. It needed a system of basic costs, which was sufficient for internal financial controls and investors to be provided with information. In an undeveloped industry, the biggest obstacle for the organisation was the use of large resources. A marketing, eco-friendly company; secondary business concern was operating productivity (Abu, Jamal din & Zakaria, 2017).

Safety-Kleen was nevertheless even larger and complicated by 1991. There was an increase of more than 100 hazardous substances being processed and an increase of eleven product categories, including recycled petrol, antifreeze, oil philtres, water solvents, and dry-cleansing. In eight states and Puerto Rico, the number of plants had increased to 12, most of them treating diverse types of waste. The competition had become more dynamic in the beginning of the 1990s. Increased growth, increased demand and several States began charging up to 25% of hazardous waste generators and recyclers.

3

SailRite Group’s ABC.

The costing of activities comprises five phases. When you are moving through the illustration of the SailRite Company, remember that the total projected overhead cost remains at $8 million. However, instead of divisions, the sum is divided into separate operations, and the overhead limit for each operation is calculated. The following are the five steps:

Step 1 : Identify events for completion of the risky commodity.

Every overhead method or practise is an operation. The objective is to take into account the things it can produce the goods of the company. Recruitment and recruitment in the organisation are included. Organizations use activity-based costing to recognise hundreds of activities needed for their goods, including Hewlett Packard and the IBM. The worst aspect of this move is to increase the operations of those with the greatest impact on overhead costs.

The accountant of SailRite identifies the following activities as having a major impact on overhead costs after meetings with employees throughout the company:

The second phase. Assign operating costs to operations of Phase 1.

In this move, the task operating costs associated with increasing operation are determined (i.e., the construction for each tasks of the expense pool). SailRite includes the cost pool for the purchase of materials, for example, purchase salaries, leasing for office space in the department and the depreciation of office equipment.

After close analysis of overhead costs (note that overhead costs are not raw resources or direct labour costs), SailRite ‘s accountant established the following estimates.

4

Advances of computerised Technology also resulted in a multitude of software that managers continually utilise for decision making and implementation. For different purposes, these devices were developed from scratch and differ considerably from standard electronic data processing systems. Very many managers have no input in the creation of these support structures, sadly, but at the same time non-managers are constrained in their understanding of how they should be employed. In spite of those inconveniences, the reviewer took much of the 56 systems he successfully evaluated into consideration. And how much managers can use the software to boost their organisations’ competitiveness is the difference between success and failure. The author suggests that these are the conditions for the mutual usage of programmers and managers to exploit the capabilities of modern technology.

Why would managers believe that a foot, deposited every other week on their tables, will be on anything rather than a pile of files?

For instance, everybody understands that a listing of debts is outstanding for computers. But what about all the demands and speculations regarding the role of the machine in management in recent decades? Whilst developments in easy information gathering, interpretation and show technologies have been made, my new study of 56 computerised decision assist systems confirms the common wisdom that to date very a few management structures have been streamlined, all indicators are that they remain unable to do so.

Rather, my results reflect what other researchers reported: apps are created, which are not used to substitute the decision-maker. In other terms, more citizens utilise so called decision-support structures for increasing their management performance in an increasing range of organisations.

Sadly, my study also shows that while ever more practical options are being created for the use of decision-makers, those who will gain from them still have three major troubles in their course.

Secondly, these market people tend to focus on technical developments, closely connected to my first point. Too much so, they do not know how these mechanisms can be utilised to increase people ‘s efficiency within businesses.

Finally, the most useful approach the management will consider is an extremely creative risk , especially when the change trigger emerges from a position other than the client.

In this article, I am specifically trying to highlight the high capacity of a variety of decision support systems, the challenges and risks confronting managers and implementers as well as a large range of methods to solving these challenges and risks without utilising the technology involved (Cidav, et al, 2020).

International consultants developed the systems in my second, fifth and seventh instances, while the first, third and sixth systems were innovations by team employees who are currently hired as entrepreneurs; only the fourth model has been focused on a particular consumer mandate. This pattern of innovative projects being implemented by everyone excluding consumers was present in many of the 56 systems.

Recovery — a network with shop floor servers.

One organisation management has introduced an automated shopping floor information system in support of production agents to improve percentage performance in a newly developed 50-phase process for processing microcircuits. Daily job reports on departure, release day, worker identification, etc are sent by operators. These foremen use programmes, customers, machines and tonalities to bet their information.

Among all ways, you can not have the software. We would follow up on activities, identify challenges in yields and fix day-to-day issues, such as who works on what amount, whether operators are ahead or below schedule or below estimates. The foremen have 13 simple commands to capture and view data on a cathode tube screen from the computer. Commands need you to tailor reports to your needs.

Recovery and review – a form of analytical portfolio.

I trained investment managers to test individual investments using an electronic software prior to contacting customers or making accepted business decisions. Managers should eliminate time intensive manual tasks, access up-to – date portfolio information in graphical or tabular form, and can conveniently order it.

The manager will analyse each portfolio and portfolio class depending on the situation — for example by evaluating it differently, getting sector-based or risk-level breakups and so on. In this kind of polyvalence, the Bank’s fund managers are utilising a wide amount of details more effectively, most of it was formerly accessible but only by tedious manual analysis.

Various archives and reviews — delivery systems helpful.

This is possibly the explanation why I looked at existing customer information systems through two consumer products corporations and a manufacturing company. To deliver accurate and cost-efficient ad hoc product evaluations for those in organisation promotion and strategy sectors, EDP ‘s basic roles were too inflexible. For each example, EDP systems information is now autonomously preserved, and tested in conjunction with proprietary independently obtained data sets and models for two scenarios (Heaton, et al , 2019).

In general, any method is a way to support decision makers by an individual or community. Identification of a challenge, applying current structures and knowledge to it, designing a solution as an empirical framework or an extra device and presenting the findings in an extended system edition. Their modus operandi is gradual.

Assessing steps focused on an accounting standard — origins and costs for activities.

An insurance company utilises an automated, source-and-application planning method to enhance operational decision making and financial forecasting over a two year cycle. Inputs are calculated in separate insurance and finance realms foreseen sales trends and projections of key individuals, such as future monetary-market rates. The performance is a net cash balance estimated weekly.

Conclusion

In three ways, operation costs (ABC) increases efficiency. First, the volume of investment pools is expanded to reduce running costs. It packages costs by process instead of placing all costs in an enterprise-wide cup.

Secondly, alternate mechanisms for assigning operational costs to goods such that spending is distributed in compliance with operations which increase costs and not in terms of quantities, like function or direct cost of labour.

Finally, ABC transforms the nature of different contingent expenditures, having traditionally believed liabilities immaterial — such as income, benefits, or wages — traceable against all transactional practises. Otherwise, ABC moves operational expenditure from large-scale to small-scale goods, resulting in an improvement in low unit costs.

References

Abu, M. Y., Jamaludin, K. R., & Zakaria, M. A., 2017. Characterization of Activity based costing on remanufacturing crankshaft. International Journal of Automotive & Mechanical Engineering, 14(2).

Akhavan, S., Ward, L., & Bozic, K. J., 2016. Time-driven activity-based costing more accurately reflects costs in arthroplasty surgery. Clinical Orthopaedics and Related Research®, 474(1), 8-15.

Cidav, Z., Mandell, D., Pyne, J., Beidas, R., Curran, G., & Marcus, S., 2020. A pragmatic method for costing implementation strategies using time-driven activity-based costing. Implementation Science, 15, 1-15.

Heaton, H. A., Nestler, D. M., Barry, W. J., Helmers, R. A., Sir, M. Y., Goyal, D. G., & Sadosty, A. T., 2019. A time-driven activity-based costing analysis of emergency department scribes. Mayo Clinic Proceedings: Innovations, Quality & Outcomes, 3(1), 30-34.

Keel, G., Savage, C., Rafiq, M., & Mazzocato, P., 2017. Time-driven activity-based costing in health care: A systematic review of the literature. Health Policy, 121(7), 755-763.

Pieter, J. E. (2018). Bridging the gap between theory and practice in management accounting. Accounting, Auditing & Accountability Journal, 31(5), 1486-1509. doi:http://dx.doi.org/10.1108/AAAJ-10-2015-2261

Questionnaire 

• What Is Consumer Behaviour?

Analysis– The above given graph shows that the survey of 11 people were been conducted in which all of them responded. The question which were been asked was what is customer behaviour? Along with this they were been provided with 4 options out of which they have to choose what they feel is correct. Thus, the options were, it is broadly the study of individuals, or organisations and the processes consumers use to search, select, use and dispose of products, services, experience, or ideas to satisfy needs and its impact on the consumer and society. Consumer behaviour is the study of individuals and organizations and how they select and use products and services. It is mainly concerned with psychology, motivations, and behaviour, Both A and B, and Neither A nor B.

1 individual think that the first option is correct i.e., 9% of the total, 2 thinks that second option is correct which is 18.18% of people of the total, 8 people i.e., 72.73% people thinks that both A and B are correct. No one thinks that both of the options are incorrect.

• What Are Consumer Motives?

Analysis- The survey which was been conducted among 11 people, in that the next question which was been asked was what are consumer motive? Again 4 options were been provided to them out of which they have to choose one. So, 1 person choses the option that consumer has a motive for purchasing a particular product, and if seen in terms of percentage so it is 9.09% of the total. Next 3 people said that Motive is a strong feeling, urge, instinct, desire or emotion that makes the buyer to make a decision to buy, this is the 27.2% of the total. No one said that Buying motives that are defined as ‘those influences or considerations which provide the impulse to buy, induce action or determine choice in the purchase of goods or service. The remaining 7 individuals said that they agree with all the three options provided above and thus share then largest percentage of 63.64.

• Marketers often use the term ________ to cover various groupings of customers.

Analysis- The customers were been asked Marketers often use the term ________ to cover various groupings of customers. 4 options were been provided to them which are people, buying power, demographic segment, and market. 6 individuals said that the correct answer is people. 3 individuals said that the correct answer is buying power, 2 people said that the correct option is demographic segment, and no said that market is the correct answer. If seen in terms of percentage so 54.55% agreed on people as the correct option, 27.27% agreed on buying power, 18.18% agreed on demographic segment and 0% on market. 

• Which of the following would be the best illustration of a subculture?

Analysis- The next question which was asked is Which of the following would be the best illustration of a subculture? They were been provided with 4 options out of which they can select which they think is appropriate. The options which were been provided was a religion, a group of close friends, your university, and your occupation. 63.64% said that the answer is a religion, 27.27% said that the answer is a group of close friends, 9.09% said that your occupation, but no one said that the answer is your university. If considered according to numbers so 7 agreed on a religion as the correct answer, 3 people thinks that a group of close friends is the correct answer, and the remaining 1 said that your occupation is the appropriate answer.

• Which product is MOST likely to be purchased through routine decision making? 

Analysis- It was asked from the chosen respondents what do they think which product is MOST likely to be purchased through routine decision making? Again 4 options were been provided to them out of which they can choose as per their views. 1 said that television set is the most likely to be purchased which is 9.09% of the total, 10 people said that soft drink is the most purchased item in the routine i.e., 90.91%. No one agreed on shirt and car as the most purchased item.

• The _____ identifies the product or brand

Analysis– After asking the above question, the next question which was been asked was what identified the product or brand? Four options were been provide i.e., container, label, advertisement and warranty. The same 11 people were answering this question as well so 4 out of 11 said that container let the identify the product or the brand. No one agreed that warranty or advertisement helps them in identifying the brand of the product. If have to be seen as per the percentage so 63.64% agreed on Label and the remaining 36.36% agreed on container.

• Consumer buying behaviour refers to the buying behaviour of businesses

Analysis– It was asked from the selected people that what do they think about the statement that consumer buying behaviour refers to the buying behaviour of businesses. There were only two options, either true or false. 90.91% i.e., 10 people said that this statement is true and the remaining 1 individual said that it is false. The percentage for the individual who said it is false is 9.09%.

• Which among the following is the factor affecting buyer’s behaviour?

Analysis– From the selected people it was been asked that which factor affect the buying’s behaviour. 5 options were been provide to them i.e., occupation, lifestyle, reference groups, family and all of the above. As every person have their own prospective so 3 out of them thinks that the occupation affects the buying’s behaviour, 4 said that lifestyle affect the buying’s behaviour, and the remaining 4 thinks that all of the above affect the buying’s behaviour. If have to consider in percentage so 27.27% agreed on occupation, 36.36% agreed on lifestyle and the remaining agreed on all of the above defined factors.

• Why Caltex’s Coffee?

Analysis– The next question which was asked is why Caltex’s Coffee? 4 options were been provided out of which 6 agreed on first option i.e., this product is cheaper but at the same time is very important for the consumer. The remaining 5 agreed on both A and B as the correct option. If considered according to percentage so 54.55% for option A and the remaining 45.45% agreed on option C.

• _________________ are the buying motive force for the satisfaction of customer purchases.

Analysis– The last question asked was which is the buying motive force for the satisfaction of customer purchases. Five options were given to them out of which they can choose one. So, 5 people chose perseverance, 1 selected goods and service, 2 selected primary buying motives, 1 selected secondary buying motives, and the remaining 2 selected none of the above. Now it is important to see as per the percentage as well so 45.45% for perseverance, 9.09% for goods and services, 18.18% for primary buying motives, 9.09% for secondary buying motivates and the remaining 18.18% for none of the above. 

Purpose of the survey

A survey is a list of questions for the study of human subjects that seek to collect particular data from certain groups of people. Check-ups can be done via telephone, mail, internet and at busy street corners or malls, often face to face. Surveying is used in areas such as social science and demography to improve information. 

Surveys are also used to test proposals, beliefs and emotions. Surveys may be descriptive and restricted, or they may have more broadly-built global objectives. Psychologists and sociologists also use behaviour analysis surveys while still discussing the more realistic needs of public health agencies, practitioners and advertisement and publicity managers for political parties. This is the case. Survey research in different fields of medicine and surgery is often used to collect knowledge about the practise habits and professional behaviour of the healthcare staff towards different clinical conditions and diseases. Medical practitioners, including doctors and nurses and physical therapists, who may be enrolled in survey studies.

A survey consists of a set of pre-sample issues. A representative sample representing the larger population in which the sample was taken can describe the behaviour, i.e., the attitudes of the population. In addition, the attitudes of individual populations can be compared and behavioural changes can be compared over time. A good sample selection is important because it helps us, as an entire objective of the survey study, to generalise data from the sample to population.

Self-government of PROMs is neither costly nor reliant on interviewers, and it has historically been chosen for these reasons. For certain groups of patients such as those who are too weak to handle a questionnaire, however, self-administration is not viable. In such situations, administration of interviewees is sometimes appropriate. Until recently interviewers were still required to prescribe for low-level learners, but modern interactive approaches can now be used for overcoming the barrier.

Summary of the responses

As per the need, a survey was conducted by taking 11 respondents who were ready to give replies of the question that were asked in the survey. The survey was conduct for CALTEX’S COFFEE to examine why customers have decided to purchase your chosen product or service. So, a total of 10 questions were been prepared based on the week 5 & 6 which was further been asked from the selected audience. There were asked to tell whatever they feel is write as per the give scenario. Each question was a multiple choice from which the respondent can choose as per his/her personal experience. For every question individual have their own prospective and thus a graph was formed which has been explained above. It is been observed that no one has skipped any of the question and have responded as per their prospective. The selected people were those who are already been associated with Caltex’s Coffee and know their way to dealing, their product quality, their service, price, and some other related factors. 

Key Findings

It was been analysed that Caltex’s Coffee is the brand which almost people known about and is well known for its taste and price. The above survey tells that the customers are well known about the things that was asked to them. Everyone has their own views for the product and its taste, so the response has varied accordingly. It was been founded that people chose Caltex’s coffee because this product is cheaper and at the same time is very important for the consumer. It has also been found that perseverance is the buying motive force for the satisfaction of customer purchases.

It has been analysed that family, occupation, lifestyle and reference group affects the buying behaviour. Next thing which has been found was consumer buying behaviour refers to the buying behaviour of businesses. The label identifies the product or brand. It was founded that mostly soft drinks are to be purchased through routine decision making. The best illustration of a subculture is a religion. 

Marketers often use the term people to cover various groupings of customers. The consumer motive is purchasing a particular product, motive is a strong feeling, urge, instinct, desire or emotion that makes the buyer to make a decision to buy, and buying motives that are defined as ‘those influences or considerations which provide the impulse to buy, induce action or determine choice in the purchase of goods or service.

On the other hand, it has been analysed that consumer behaviour is broadly the study of individuals, or organisations and the processes consumers use to search, select, use and dispose of products, services, experience, or ideas to satisfy needs and its impact on the consumer and society. As well as consumer behaviour is the study of individuals and organizations and how they select and use products and services. It is mainly concerned with psychology, motivations, and behaviour.

Question 2 – Week 3 (7 marks) 

1. Total manufacturing cost for 150 Coffee table

	Job No. X10
Direct materials used	22,800
Direct Labour used (600 *16)	9,600
Applied Factory Overhead (30*400)	12,000
Total manufacturing cost for Job No. X10	44,400

1. b) Calculate the cost per coffee table for Job No. X10?

Total manufacturing cost for Job No. X10 (A )	44,400
Number of Coffee Table ( B )	150
Cost Per Coffee Table (A/B)	296

1. c) List two uses of this unit cost information to the managers at Tik Tok Company.

• Company can determine break even point  and level of profit.
• Per unit cost helps in determining key cost drivers which increase overall cost of production. 

Question 2 – Week 5

1. Calculations for activity rates for each of the overhead items

Activity Cost Pools	Cost Drivers	Estimated Overhead (A )	Expected Use of Cost Drivers ( B )	Activity Rate (A/B)
Purchasing	Number of orders	1,200,000	40,000	30	Per Order
Machine setups	Number of setups	900,000	18,000	50	Per Setup
Machining	Machine hours	4,800,000	120,000	40	Per Machine Hour
Quality Control	Number of inspections	700,000	28,000	25	Per Inspection

Here is the calculations showing activity rates for overhead items. For purchasing activity the rate is $30 per order, For Machine setups and Machining $50 per set up and $40 per Machine hours respectively. Quality control costs $25 per inspection. 

• Using the rates in (1) determine the unit cost for TRI-X.

Calculation of Overheads applied
Activity Cost Pools	Activity Rate (A )	TRI-X Product ( B )	Applied Overheads (A*B)
Purchasing	30	17,000	510,000
Machine setups	50	5,000	250,000
Machining	40	75,000	3,000,000
Quality Control	25	11,000	275,000
Total Overheads applied (A )			4,035,000
Number of Units manufactured ( B)			26,000
Overhead Unit Cost (A/B)			155.19

Direct Materials	700.00
Direct Labour ($20/hour)	120.00
Overheads applied	155.19
Total Unit Cost of TRI-X	975.19

1. Calculate the Gross Profit  on the Product TRI-X

Selling Price Per Unit	1600.00
Less Unit Cost	975.19
Gross Profit Per Unit	624.81

The selling price of TRI-X  in the market is $1600 per unit , as per the cost drivers and activity costs the total unit cost will be $975.19  which means  gross profit from the sale of goods  will be $624.8.

Question 3 – Week 6

1. Cash receipt budget schedule , include total receipts per month

Cash Receipt Budget
Particulars	July	August	September	Total
Total Sales (A)	140,000	210,000	280,000	630,000
Immediately Collected ( A *15% ) =( B )	21,000	31,500	42,000	94,500
Less Cash Discount (B* 4%)	840	1,260	1,680	3,780
Cash Collected from Immediate  (B – C ) =(D )	20,160	30,240	40,320	90,720
One month later (A *25%) = ( E )		35,000	52,500	87,500
Two months later ( A *40%) = ( F )			56,000	56,000
Total  Receipts (D +E +F)	20,160	65,240	148,820	234,220

Working Note

Sales Budget
Particulars	July	August	September	Total
Number of Units Sold	1,000	1,500	2,000	4,500
Selling Price Per Unit	140	140	140	140
Total Sales	140,000	210,000	280,000	630,000

1. Prepare a material purchases budget schedule for each of the first three

Material Purchases  Budget
Particulars	July	August	September	Total	October
Budgeted Production	1,450	1,650	2,120	5,220	2,460
Add Ending Inventory @20% of next month	330	424	492	492
Total Requirements	1,780	2,074	2,612	6,466
Less Beginning Inventory	–	330	424	–
Number of Units to be Purchased	1,780	1,744	2,188	5,712
Direct Material Cost Per Unit	60	60	60	60
Total Direct Material purchased	106,800	104,640	131,280	342,720

Working Note

Schedule of Payment of Material Budget
Particulars	July	August	September	Total
Total Direct Material purchased	106,800	104,640	131,280	342,720
Payment made in the following month		106,800	104,640	211,440
Total Payments made for Purchases	–	106,800	104,640	211,440

1. a cash budget for the month of July. Include the owners’ cash 

Cash Budget
Particulars	July	August	September	Total
Opening Balance	250,000	194,810	52,650	250,000
Total Receipts	20,160	65,240	148,820	234,220
Total Cash Available ( A )	270,160	260,050	201,470	484,220
Less Payments
Material	–	106,800	104,640	211,440
Labour	14,500	16,500	21,200	52,200
Variable Overheads	18,850	31,600	39,110	89,560
Fixed Overheads	42,000	52,500	52,500	147,000
Total Payments ( B )	75,350	207,400	217,450	500,200
Ending Balance (A -B)	194,810	52,650	-15,980	-15,980

Question 2 – Week 8

1. a) Using the general rule, determine the minimum transfer price.

When any manufacturing concerns are having factory outlets in more than one places  then they can transfer goods from one outlet to another  at transfer pricing. That transfer pricing  is the sum of  variable manufacturing costs and shipping cost and opportunity costs associated to the product. The calculation of transfer pricing are as follows: 

= $3.00 + $0.20 + $0.50 ($4.00-$3.50)

= $ 3.70

1. b) Assume the Bottle Division has no excess capacity and can sell everything produced externally. Would the transfer price change?

When Bottle division consume  everything from the external sources then  transfer pricing would change  as goods generated internally and goods purchased from external channels have different costs  and vary  a lot.

1. c) Assume the Bottle Division has no excess capacity and can sell everything produced externally. What is the maximum amount Perfume Division would be willing to pay for the bottles?

If Perfume division is going to purchase goods from bottle division which  sells products externally produced then Perfume division has to pay $4.00  per unit. As it is consuming goods which is produced externally not within same organisation.

1. d) When is it more appropriate to use market-based transfer price rather than cost-based transfer price?

If there are two options cost based transfer price and market based transfer price, then market based transfer pricing is most simplest and elegant method. Company can earn highest possible profit rather than abnormal profit as per the regular  or mandate pricing schemes.

Question 3 – Week 10

	Particular	Alpha	Beta	Gama	Total
	Selling Price Per Unit	250	400	1500
	(-)  Variable cost Per Unit	80	200	800
	Contribution margin per unit	170	200	700
	Sales Units	12000	6000	2000	20000
	Contribution margin	2040000	1200000	1400000	4640000
a.	Weighted average contribution Margin				232
b.	BEP				21551.72
c.	Margin of safety				24999

Working Note 

Contribution Margin = Total contribution margin of Sales mix/ Number of sales units

Break Even Point	Fixed cost/Contribution Margin per unit
Margin of Safety	Actual Sales- Break Even / Actual sales
Projected Sales	25000
Total Annual Fixed Costs	5,000,000

Question 3 – Week 11

Particulars	80000 units	For overseas selling Price (10000 units)	90000 units
Direct Material	57	57
Direct Labour	60	60
Variable Manufacturing Overhead	16	16
Fixed Manufacturing Overhead	30	30
Variable Selling and Administrative Costs	10.2	19.2
Fixed Selling and Administrative Cost	27	27
Import and Other Duties Cost		4.2
Total Unit Cost	200.2	213.4
Total Cost	16016000	2134000	18150000
Selling Price	240	242.6
Selling Unit	80000	10000	90000
Total Sales	19200000	2426000	21626000
Profit	3184000	292000	3476000

Estimation of profit on the basis of 80000 units produced

Profit Percentage = 20

Profit For 10000 units = 42.68

2. (b) Cost for selling damaged goods

There are 200 units of finished goods remaining as inventory with the company from last two months. The goods are now damaged due to environment and natural conditions, now if the company wants to sale them in market. Now, these goods are considered as damaged goods.  The feasible approach  for deciding  the selling price of the goods is the price offered by  market or cost of manufacturing  whichever is high.

1. (c) “All future costs are relevant in decision making.” Do you agree? Explain. 

Future costs are pre decided costs for transactions in present time period. Yes, these costs are relevant for decision making. If any contract  between  parties are formed related to future transactions then it is good if in the contract future costs should involved because costs are changing with the pass of time and if future contracts are based on traditional pricing then no party will gain profit.  For recovery of cost and generating  profit , it is good  for making  contracts  on the basis of future cost.

References:

Accounting Tools. (2020). Transfer Pricing. Accountingtools.com [online]. Available at: https://www.accountingtools.com/articles/2017/5/16/transfer-pricing. [Accessed on 06.10.2020].

Question 1

Quantitative data are data in graphical form like figures percentages etc using figures the analyst analyzes data and assumes that the calculations can produce an accurate conclusion which can be applied to any wider community. In another hand qualitative analysis examines individual encounters extensively with the goal of defining and interpreting meaning through language narration or visual evidence by creating themes specifically for that group of participants (Kaushik and Mathur, 2014). Qualitative analysis provides knowledge only about the individual cases examined, although theories are often more general assumptions. Quantitative techniques may be used to confirm which of those assumptions is valid.

1. The below options are derived from the given question:

Opinion	Response
Vote against the law	672
Vote for law	295
No opinion	51

The type of information mentioned above is variable and the change in the new project of the rail road is the explicit data. As per the measurement scale, it can be see that there are two levels of variable here – which are Yes/ Noand has no specific ranking or order. Hence the measurement scale is nominal.

1. The graphical presentation mentioned below specifieswhether the general support is in favor oris againstthe increase in the tax development for commencing the new project of rail road. The best presentation for such categories is reflected through a bar chart hence we have used it here.

Looking at chart above, it can be seen that maximum amount of votes that are reflecting are not in favor of the law which means that lesspeople are there who are in support of  paying thedevelopment tax which is required to start the new project of the rail road.

Question 2

To describe how much time is spent in a weekly meeting data of 25 observations will be used.

1. Mention below is the summary of total time spent by 25 CEO in a meeting weekly, time calculated is in hours:

Time spent
Mean	18.32
Sample Variance	11.56
Mode	15
Range	11
Maximum	23
Standard Deviation	3.4
Median	19
Minimum	12
Quartile3	21
Quartile1	15
Quartile2	19

1. For preparing the data of frequency distribution along with frequency percentage a two hours class width is used.

Highest value = 23, Lowest value = 12,

Classes	Frequency	Percentage Frequency
12	1	4.0%
14	2	8.0%
16	6	24.0%
18	3	12.0%
20	5	20.0%
22	4	16.0%
24	4	16.0%
Total	25	100%

1. Mentioned below is the diagram used for calculating time spent by 25 CEOs in weekly meetings. The time is calculated in hours. As per the graphical presentation mention below,it can be seen that mostly the value is falling towards the left side .This shows that the data is tilted negatively.

Question 3

The question in the research that we are going through has multiple methods to collect the data and similarlyfor sampling also there are different methods which can be used. Let us see in the research which is the most suited method for sampling and collection.

1. Investigate the voting purpose of the Australian voters in the forthcoming election:

Data collection: Since, many people will be involved the questionnaires method will be appropriate to collect the data as to a certain extent in the sample of large size close ended answers are used.

Definition of Random Sampling:  Method in which a sample is taken randomly to draw a conclusion without being bias towards anything is Random Sampling method.

Significance:  Any research in which large amount of people or data needs to be investigated, Random sampling is the best method to be used as it’s not possible to investigate the entire lot for drawing a conclusion. Just like in this case it’s not possible to get the views of the entire population of Australia.  

Sampling:The random sampling method can be considered for this research, as it would not be possible to travelall of America enquiring each citizen regarding theirchoice. For drawing the concluding we can randomly pick any American citizenand question them.

1. Find out reasons for the top 4 banks who are not giving its borrowers the complete interest cuts that the Australian reserve bank has introduced :

Data collection:To collectthis data we can use the interview method, where banking and financial expert can be interview to find out the likelyreasons.

Definition of Convenience sampling: A method in which a sample is taken from people or group who are related to the research and can be approached easily is Convenience sampling method. The only criteria in it are that people should be available and agree to participate. 

Significance: In this scenario since the information that has to be gathered is related to banks and only people from banks can provide the inside information, Convenience sampling is the best method that can be used to gather the information as according to this method only those people who are related to the research, have information about it and are easily available to be investigated for drawing conclusion.  

Sampling:Convenience sampling is another way to carry out this research. For this objectiveany expert in this field who is easy to approach can be interviewed to find out about the sentiments of the banks (Palinkas,et. al., 2015).

1. Comprehend the demographic portfolio of Melbourne community which existat city council of Hume:

Data collection:For understand this; we can do a survey in that area and look for the required details from people residing over there.

Definition of stratified sampling:It is a method in which small groups are made out of the entire population to do the sampling. People having common characteristics are chosen to form a group and from this group samples are taken randomly.  

Significance:In this scenario specific information is required from people within the community and to gather such information stratified sampling is best suited as according to this method groups are made of only those people who are within the specified community and share common interest once the group is formed then from within that group samples are take randomly to get to a conclusion.  

Sampling: For this research, Stratified sampling method should be used,thatincludespeoplewho have similar characteristics to be gathered into subgroups,so that it becomes easy to know their demographic portfolio.

1. Take adults opinionto find out whether use of marijuana in Australiashould be legalized.

Data collection:Focus Group method can be used in this, as views can be taken from the adults on legalizing the use of marijuana in Australia. As the method involves surveying, interviewingand observing the focusedgroup,hence the adult group can be survey, interview and observe here.

Sampling:In this research random sampling method can be implemented,which means taking opinionsof randomadults.

1. Evaluatethe standardchildren’sage of  Melbourne city :

Data Collection:Records and Documents are what could be used to find out the standard age of the children. These records and documents containreports of the census or something similar which can help in finding the standard age of the children.

Sampling:We can use the Stratified sampling method,according to which children’s date is separated from entire data that contains the completeinformation. That’s the reason Stratified sampling method should be used.

Question 4

1. To find out whether watching television is the cause of increase in weight or not we can use the Scatterplot diagram in which we can layout the connection between spending time in front of the Television and becoming Overweight. In the overweight data negative number will be reflected for any underweight child.

1. To calculate correlation coefficient amongst the variables we can use the toolpakof data analysis in excel.

Hours/KG	Television	Overweight
Television	1
Overweight	0.89119	1

Definition of Correlation coefficient:It is a statistical measureof strength to find out the relationship between relative activities of two variables. The range of the value falls between -1.0 and 1.0. Any number that is calculated and is more than 1.0 or less than -1.0 then the correlation is measured incorrectly. The value comes up as -1.0 then it reflects a negative correlation and if the value come up as 1.0 then it reflects a positive correlation. If the value is 0.0 then it reflect that there is no linear relationship amongst the movement of both the variables. 

Correlation coefficient value consist of 0.89119 which means that there is a positive and strong relationship between Overweight (Kg) and television (hours). It meansthat as the hours of watching Television increase, there will be an increase in overweight andvice versa reflecting the relationship amongst the linear changes.

1. Regression output in excel is mentioned below:

	SUMMARY OUTPUT
	Regression Statistics
	Multiple R	0.8912
	R Square	0.7942
	Adjusted R Square	0.7784
	Standard Error	1.5894
	Observations	15
	ANOVA
		DF	SS	MS	F	Significance F
	Regression	1	126.757503	126.757503	50.17424642	0.0000
	Residual	13	32.84249702	2.526345925
	Total	14	159.6
		Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
	Intercept	-11.069	1.973	-5.611	0.000	-15.331	-6.807	-15.331	-6.807
	Television(hours)	0.434	0.061	7.083	0.000	0.302	0.567	0.302	0.567

The likely regression equation:

Overweight =-11.069 + 0.434*Television

Explanation:

Intercept: Average Overweight would be expected to go down by (average) 11.0691 if hours of television are zero.

Slope:The overweight will increase by (average) 0.434 Kg if one unit is increased in Television(hours) 

1. 0.7942 is the coefficient value of determination, whichmeans the variation of 79.42% inoverweight isdescribed by the total hours spent in front of the televisionand hence this is reasonablya model that fits strong.
2. As per the outcome of the summary mentioned above, 7.083 is the value of T and 0.000 is the value of P. Since the value of P is not more than 0.05, Variable is significant statistically and hence has a relationship between overweight and television.
3. As per the outcome of the summary mentioned above, Standard error value consists of 1.5894. The value of P in the F-stats consists of 0.000. Asthe value of P is not more than 0.05 of significant level, the complete model is significant statistically;also the R-square value is used to determine the model’s fitness. Because 0.7942 is the value which means that this model is a good fit. 

Reference:

Kaushik, M. and Mathur, B., 2014. Data analysis of students marks with descriptive statistics. International Journal on Recent and Innovation Trends in Computing and Communication, 2(5), pp.1188-1190.

Kim, T.K., 2017. Understanding one-way ANOVA using conceptual figures. Korean journal of anesthesiology, 70(1), p.22.

Palinkas, L.A., Horwitz, S.M., Green, C.A., Wisdom, J.P., Duan, N. and Hoagwood, K., 2015. Purposeful sampling for qualitative data collection and analysis in mixed method implementation research. Administration and policy in mental health and mental health services research, 42(5), pp.533-544.

Suri, H., 2011. Purposeful sampling in qualitative research synthesis. Qualitative research journal, 11(2), p.63.

Taherdoost, H., 2016. Sampling methods in research methodology; how to choose a sampling technique for research. How to Choose a Sampling Technique for Research (April 10, 2016).

Reflection report

The library management system helps libraries keep a list of documents, credits, investments and member files, sometimes for several physical locations. This type of software can be used by educational libraries and public or private libraries. Excel does not have the ability to manage data for affiliate database programs, such as SQL Server and Microsoft Access. In Excel, data is organized using rows and columns on a sheet of paper. The function of the table makes it easy to insert, organize and move data. There are four parameters for measuring data: name, ordinal, division and measurement. They are methods for dividing different types of data.

IN this above scenario we use a library data in a excel software that make help to easy understand and also easy to understand the visualization. We have use different worksheet in a single excel file. Excel is one of the most widely used desktop applications ever made and everyone is familiar with computers and keyboards. However, most of us do not know what Excel can do, much of its limitations are brought about by the development of its latest capabilities, flexibility and complexity. The fact is that Excel can simplify your work in a number of ways, without counting the number and average in a standard spreadsheet.

Excel business data analysis shows how to solve real-life business problems using your Excel data analysis capabilities. Order keys directly for business users, as opposed to focusing on individual components and functions of Excel. Many chapters begin with a business problem or question and then show you how to create a redesigned spreadsheet that solves common data analysis problems.

Designed especially for advanced Excel users, the workbook does not waste a lot of time on the basics.  

Basically, in this project we use four spreadsheets in a excel for different visualization purpose. In this project we perform different operation like merge data, add data, create data, update, delete data and highlight data.

Basic operation followed in excel files: –

Merge data: it also called Data Consolidation. The data link allows you to collect data from separate pages to form one main page. In other words, the data integration section takes notes from a series of papers or workbooks and combines them into one page that you can easily improve.

Start concatenating tables.

Step 1: Choose a large table.

Step 2: Select the new table.

Step 3: Select the appropriate column.

Step 4: Choose a column that you can upgrade to a large table.

Step 5: Select the column you want to add to the main table.

Step 6: Select advanced connection options.

Data deletion:- Select the cells you want to delete, then press the Dele button. Note that deleting cells in this way erases the data, but not doing it. If you want to remove the shape, use “Delete All” from the clean-up list on the main belt. Another easy way to extract data from a sheet is to delete all columns or rows. We can also delete lines using the tape command. Go to Home tab Tap the Delete ➜ key and select Delete line.

Data update:-

Just refresh the selected data ALT + F5, or in the Data tab, in the Queries and Connections tab, click the arrow under the Refresh heading, then click Refresh.

To refresh all data in the CTRL + ALT + F5 workbook, or in the Data tab, in the Query and Connections tab, click Refresh All.

To control how the connection is refreshed and when, in the Data tab, tap the arrow under Total Refresh, and then click on Connection Properties.

In the dialog box, in the Test Management section, select the option you want to use in the tab.

Create attribute:- Create new columns in a excel spreadsheet in called new attribute.

Remove Duplicate Rows:- If you have ever had to combine multiple spreadsheets into one, you will know how difficult it is to remove copied records. Excel can erase them for you, although they should be used with caution, because they erase your data. Excel automatically selects multiple cells. A window appears with a list of columns for verified boxes in front of all names. If you leave three selected columns, Excel will scan copies in all cells This means that all three cells must be the same as all three cells in one row to be considered as copies. That way, if you can run it now, you won’t get twins. You do not have to decide which lines to stay or which lines to go. Excel moves from top to bottom in sequence, marking the first event and deleting any subsequent rows. Excel does not delete complete lines from a spreadsheet when removing twins. This will clear the queue cells from the selected data. Data outside of your site is unaffected. (Therefore, if you have information on E1-E6 cells, they will not be affected by deleting the simulated processes from A1-C6 cells.) If you select cells and when you click Delete Copies, a window will select Continue with this option, which will remove the copied cells from your selection and data. It may leave the room empty.

Working of the spreadsheet:-

As per given scenario we follow the library management with some attributes like book id, author name, book name, rating, language and genres. There is 4 different sheet version present which have different operation.

V1.0 Spreadsheet:-in this given scenario we add ten different book data in spreadsheet we add the ID, author name rating book title and genre of the ten different book data in a V1.0 as show below table.

V1.1  in this Spreadsheet we update last two data and add new five books data in last five Rows as shown below:-

V1.2 in this Spreadsheet we two new attributes named as page number or language and highlighted with red colour as shown below:-

V1.3 in this spreadsheet we drop or remove one of attribute name page number in each row and add five more data in spreadsheet and highlighted with green colour as shown below:-

Answer 1

(a). Arrange the data of 20 student’s result 

Student number	Results
1	42
2	53
3	54
4	61
5	61
6	61
7	62
8	63
9	64
10	66
11	67
12	67
13	68
14	69
15	71
16	71
17	76
18	78
19	81
20	83
Total	1318

Data has arranged in ascending order for getting correct results.

• Compute Mean, Median and Mode

To calculate mean , following formula will implement:

Σ xi /9Total of marks) =1318;    n (number of students)=20

131820= 65.9  is the  mean value of student’s results.

Median calculation

Median = N2+1=202+1=11th  Item of the above table will be median

Median is 67  

• Compute 1st and 3rd Quartile

1st Quartile =  14 N+1 = 20+1/4 = 5th Item  = 61

3rd Quartile =34N+1=3420+1=634=15th  item=71

• Compute and Intercept 90th Percentile 

Formula = 90% of total number of students(observation)  =  0.90*20 = 18th Item = 78

(b) Inferential Statistics:

Inferential statistics include select sample from the available observation, in order to identify or solve the  issue through applying appropriate tests. These tests are also helpful in hypothesis testing and prove the outcome with valid numbers. 

Answer 2

(i) Prepare Joint Probability Table

	Applied for More than 1 University
Age Group	Yes		No
23 and Under	207	207/808*100=25.62%	201	201/1210*100=16.61%
24-26	299	299/808*100=37.0%	379	379/1210*100=31.32%
27-30	185	185/808*100 = 22.90%	268	268/1210*100=22.15%
31-35	66	66/808*100=8.17%	193	193/1210*100= 15.95%
36 and over	51	51/808*100=6.31%	169	169/1210*100= 13.97%
Total / Joint Probability(%)	808	100%	1210	100%

(ii) Given that a student applied to more than 1 university, what is the probability that the student is 24-26 years old.

Probability of student is 24-26 years old = 299/808 =37.00%

• Is the number of universities applied to independent of student age? Explain

Student age  is an independent variable against number of observation collected for application made for enrolment in more than one university at a time. Any student at any age can take enrolment of in more than one university or they can adopt only one university at a time.

(b) 

Information provided-

x	f(x)
10	0.05
20	0.1
30	0.1
40	0.2
50	0.35
60	0.2
Total

X represent number of new clients for counselling cases in the year 2021.

Formula of calculating Expected value =  ?(?) = ? = ∑? ∗ ?(?)

x	f(x)	(? − ?) 2		(? − ?) 2*f(x)
10	0.05	-33	1089	54.45
20	0.1	-23	529	52.9
30	0.1	-13	169	16.9
40	0.2	-3	9	1.8
50	0.35	7	49	17.15
60	0.2	17	289	57.8
Total				201

Expected Value= (10*0.05+20*0.1+30*0.1+40*0.2+50*0.35+60*0.2) =43

Formula of Variance of a discrete random variable ???(?) = ∑(? − ?) 2 ?(?) 

Variance = 201 (calculation shows in table)

Answer 3

1. Formulate Hypothesis : 

Problem statement: Population annual expenditure on prescription drugs per person is lower in the Midwest than the Northeast.

Hypothesis Statement: 

Ho: µ ≤ $838 or 

Ho: µ = $838 

Ha: µ > $838 

Problem statement can test on one tail test from left  tail as it requires testing of lower limit. 

• Suitable test Statistics 

One (Left) tail test

Formula:

• Calculate value of relevant test statistics and P- value 

Sample Mean (x) = $745

Null Hypothesis Mean  = $838

SD = 300

Sample size = 60 

Applying Formula (745-838)/300/sqrt(n)

Z=  -93/38.75 = -2.40

From the table given of Z score , at significance level of 0.05 ,

P value = 0.0071

• Based on the p value in part (III), at 99% confidence level, decide the decision criteria.

If the confidence level is 99% then there is 1% of significance level  for this problem and at this level  the critical value is  2.326 , for this Z-score is -2.4 which is less than critical value (2.326> -2.4). Null hypothesis shall be rejected.

• Make  the conclusion Based on the analysis.

As per rejection of null hypothesis, it is concluded that the prescribed drugs expenditure is not lower in Midwest as comparison to Northwest. 

Answer 4

•  State the null and alternative hypothesis for single factor ANOVA to test for any significant difference in the mean price of gasoline for the three brands.

Hypothesis 

H0 = µ1= µ2= µ3

H1 = µ1≠µ2≠ µ3

(ii) State the decision rule at 5% significance level.

Reject the H0 id t stat  > Z critical value, Otherwise accept the null hypothesis

(iii) Calculate the test statistics

	A	B	C
	3.77	3.83	3.78
	3.72	3.83	3.87
	3.87	3.85	3.89
	3.76	3.77	3.79
	3.83	3.84	3.87
	3.85	3.84	3.87
	3.93	4.04	3.99
	3.79	3.78	3.79
	3.78	3.84	3.79
	3.81	3.84	3.86
Sample Mean	3.811	3.846	3.85
Varience	0.003349	0.004844	0.00382

ANOVA one- way test Formula 

Formula F= MSTR / MSE

MSTR = ???? / ? – 1

MSE = SSE /?r – k

?Ӗ= (3.81 + 3.84 + 3.85)/3 = 3.83

SSTR=  10(3.81- 3.83)2  + 10(3.84-3.83)2 + 10(3.85-3.83)2  = 0.009

MSTR = 0.009/ (3-1) = 0.0045

P-value and critical value approaches 

Value of test statistic

SSE = 9(0.003) +9(0.005) + 9(0.004) =0.108

MSE = 0.108/(30-3) = 0.004

F= 0.0045/0.004 =1.125

ANOVA Table

Source of variation	Sum of Squares	Degrees of Freedom	Mean Square	F	P- value
Treatment	0.009	2	0.0045	1.125	0.044
Error	0.108	27	0.004
Total	0.117	29	0.0085

P- value calculation 

Here Numerator df = 2; Denominator Df = 27 then the value of F at 0.01 = 5.49

Decision on the basis of test 

The p-value < .05, So null hypothesis shall be rejected

Decision as per critical value approach 

Based on an F distribution with 2 numerator d.f. and 27 denominator d.f., F.05 = 3.35.

Reject H0 if F < 3.35

Here F = 1.125 <3.35 which is evidence for rejection of null hypothesis.

(d) Based on the calculated test statistics decide whether any significant difference in the mean price of gasoline for three bands.

The value of F is 1.125 which is lower than F critical value  this means  hypothesis has been rejected that means  there is significant difference in the mean price of gasoline in all the three brands. 

Answer 5

• Complete the missing entries from A to H in this output

A= R Square = SSR/SST = 35250755.68/ 42699148.82 = 0.82

B= Observation = 50 (provided in Answer)

C= residual = Total- Regression = 49-2 = 47

D= 42699148.82-7448393.14 = 35250755.68

E= SSRegression / dfreg. = 35250755.68/2 = 17625377.8

F= SSR /(50-3) = 7448393.148/47 = 158476.45

G= 17625377.8/158476.45 = 111.217647

H= Coefficient of income /Standard error of income = 8.36

• Estimate the annual credit card charges for a three-person household with an annual income of $40,000

To estimate  charges of credit card , intercept, household value and size has been considered from the ANOVA table.

The annual credit card charges for three person family is $3700  where annual income is $40000.

• Did the estimated regression equation provide a good fit to the data? Explain 

No,  The reason behind the same is high variability  between two variables X and Y  which  fails in establishing good fit to the data.

Answer 6

1. Using linear trend equation forecast the sales of face masks for October 2020

Month	Sales ($)
1	17000
2	18000
3	19500
4	22000
5	21000
6	23000

Linear Trend Equation = Y= Mx+B

M= Y2-Y1X1-X2 = 23000-21000/6-5 = 2000/1 = 2000

         

Y = Mx+B 

Y= ?

X=1

B= 23000

Y = 2000*1+23000

Y = 2000+23000= 25000

$25000 will be the forecasted sale in the month of October.

• Sales forecast will be

	Sales	Weight	Weighted Sale
July	22,000	0.2	4400
August	21,000	0.3	6300
September	23,000	0.5	11500
Total			22200

So, the expected sale for the next month will be $22200

Question 8

 Explain how forecast analyzes and analyses related to budget preparation will enable you to contribute to financial bids and estimates?

Budget and Forecast

Financial forecast assists us in achieving the goals and targets of the business by analysing the important business finances along with the comparison financial statements as per the review on past history and past records which gives us the review of our business concerns. Forecasting shows the position of our business and the future predictions of what will going to be happen in future regarding the position of our business and for experiencing the rapid growth along with financial difficulties.

Contribution to financial bids and Estimates

Now lets us take the supposed condition to make clear the topic of contribution and bidding. As alway we had seen that in the major and huge organisations before takeover the another company the company has to move on with lots of process and shall  taken decision  by the board of directors of the company.

So to do further processing before that they have the authority to decide the bidding amount which the company wants to give for the takeover of another company because bidding procession is just like the one who forecast their future will bid the high value.

Furthermore the  Estimation will support the another company and show them the approximate estimation od what the things will cost with budgeting. With an estimation we can manage the company’s expectations cannot overwhelm but can’t shoot out the the confidential information for the project success and the sound working relationship.

 

Question.9

What can the organisation do to maintain audit trail to ensure accurate tracking and to identify discrepancies between agreed and actual allocations?

Maintenance of Audit Trail

The ability to follow records from their source of destination through their many changes or variations offers much more benefits including transparency and security of records for compliance ,maintain integrity and precision ,protection of the system from exploitation and maltreatment and the security of confidential information.

Discrepancies Between Agreed and Actual Allocations

Best financial management system and processes is must for our organization for the best utilization of resources and to track them whether the utilisation of resources shale be done accordingly or not. Efficient planning and controlling of department helps to ensure the effective utilisation of resources, sound business position, tracking of actual and agreed allocation of resources, demonstration of accountability.

Budgeting

Central expenditure relates to the annual allocation of budget which helps the department to consider factors like strategy and financial resources deployed, income targets ,expenditure commitments and priorities to be given to the activities of department.

Allocating Budgets

When budgets are allocated individual centres then we considered agreed and actual allocation of resources because we mention about the similarities between them so it should be mentioned some of the factors of allocation of resources and its utilisation in a proper way. Like initial budget should be complied along with performance of department, outcome of budget decision, budget allocation controlled by whosever individual, monitoring expenses against budget. 

 

Question 10

List considerations when reviewing existing software and its suitability for Financial Management?

Suitability of Financial Management system

While recommending financial method it consider some of the factors which for the suits an organization-

1. Cost- As the company position is looks good company shall be in a position take debt finance and according to that the company will have capacity take more debt and have more cost advantage. As we all know that debt finance is more low priced than equity finance.
2. Cash Flows- Cash flows shows the assets and liabilities of the company. What the position of debt of companies going on and how much company has made investments in the market and what operations are operating, what financed by company which shows the overall performance and where the company position lies.
3. Risk- The Directors of the company shall maintain a business risk of the company if the business risk becomes high then it means the operating operations are increasing and if the business risk falls then the company is in a condition to accept more financial risk.
4. Control- If debt is raised then the company has no control over it and if the company’s debt raised then there is no control of change as we know that the changing condition will only be possible when the right issue shareholders will transfer their rights.
5. Cost and easer of use- Mostly companies often raised debt funds as compared to equity because equity is more difficult ,time consuming and costlier.

Question 11

Why is it important to circulate budgets and ensure managers and supervisors are clear about budgets, reporting requirements and financial delegations?

Budgeting help us to create the planner of how much money should I spend and keep us ensure that atleast whenever people in need of money they should  have that much amount of money to buy things and to fulfill our needs.

Circulation of budget is must to clear for every department and for each and every employee so that they should confirm regarding the amount to be spend and used on behalf of the company and to entail the list of things that cover up the entire management supervisors and subordinates too. As budget keeps an keen eye on it and accordingly employees made utilisation of resources because if comparison done between actual and estimated then the resources will be more estimated then  actual and if it is not utilised as per the budgeting estimation then financial delegations are more worsening the situation and take care of it properly as per the requirements.

Question 12

Briefly explain how using previous financial data can help determine allocations for resources?

The company’s run from past several years and while talking about the past records of company maintained it describes the overall performance of the company which entails the overview where the resources shall be utilised and in proper manner or not. Auditor shall come up with the records of the company maintained by the subordinates of company and picturise the position and spectrum of company which showed the organization past records regarding company’s condition what’s going on and how much funds company borrowed from the market and what the current ratio and PV ratios of company and ideal ratio and quick ratio which shows the balance of Assets and Liabilities.

Question.13

Give an example of a Budget and/or budgeted statement that must be prepared in accordance with statutory requirements?