University | Temasek Polytechnic (TP) |
Subject | Business Statistics |
- You have resigned from your employment and taking a break from work. Instead of staying home, you decided to help out at your parents’ café business in the East Coast area, which is doing much better than expected with the economy opening up after 2 years of living with COVID-19 restrictions. Your parents encouraged you to learn the cafe business to let you take over eventually. Besides the hot and cold beverages, the cafe’s primary products are cakes and pies. All the products served at the café are baked by your parents, which is a key selling point. However, it is really hard work for your parents to prepare so many of these different products.
- Given your business training background, you are curious to see which products served at the café are the most popular and the amount a typical customer spends for each visit. You decided to track the primary items purchased and the amount customers spend for a randomly selected group of customers over 1 month. The data for the 70 customers surveyed can be found in the Table 1 worksheet in the EXCEL Data file.
- In addition, you would like to know how your parents’ café compares with others. Your good friend, Lynn, is also running a café in the West Coast area of Singapore. Her café business is very similar to your parents’ café business. She agreed to share her information with you which can be found in the Table 2 worksheet in the EXCEL Data file. Based on your observations of both cafés, do you think customers are spending more per visit at Café Recharge than at Café Luvitar? Since both cafés serve roughly the same number of customers each day, your parents’ café business is not performing as well as your good friend’s café business.
- After working for a couple of months at your parents’ cafe, you are seriously considering taking over the cafe business. In your mind, you have set some criteria:
i) The cafe should have at least a 90% chance of breaking even for any typical business day.
ii) Your parents’ cafe business should be comparable to your good friend’s cafe business.
iii) The estimated monthly profit at your parents’ cafe must exceed your previous monthly income of $5000.
Hire a Professional Essay & Assignment Writer for completing your Academic Assessments
Native Singapore Writers Team
- 100% Plagiarism-Free Essay
- Highest Satisfaction Rate
- Free Revision
- On-Time Delivery
Get Help By Expert
Singaporeassignmenthelp.com is a reliable platform that provides comprehensive online thesis help. Our team of experts will assist you with every step of the writing process, from collecting reliable sources and researching to crafting an engaging and well-structured thesis paper. With plenty of online resources and study guides, it's easy to find assignment writing help when you need it from us!
Answer
Looking for Plagiarism free Answers for your college/ university Assignments.
Recent Solved Questions
- INDIVIDUAL RESEARCH PROJECT: MERGERS AND THEIR IMPACT
- PSS388 End of Course Assessment January Semester 2025 SUSS : Integrated Public Safety And Security Management
- PSY205 Tutor-Marked Assignment 02 SUSS January 2025 : Social Psychology
- Math255 S1 Assignment-2025 SUSS : Mathematics for Computing
- BUS100 Tutor-Marked Assignment January 2025 SUSS : Business Skills And Management
- CSCXXX SUSS : New System Development Using Java : Soft Dev Pte Ltd Project
- Cloud Computing: Fundamentals, Networking, and Advanced Concepts
- COS364 Tutor-Marked Assignment January 2025 Sem SUSS : Interventions for At-Risk Youth
- FMT309 Tutor-Marked Assignment 01 SUSS January 2025 : Building Diagnostics
- HBC203 Tutor-Marked Assignment 01 January 2025 SUSS : Statistics and Data Analysis for the Social and Behavioural Sciences