Introduction to Quantitative Methods Assignment - SSBM

Assignment Task

Scenario

You are about to enter the workforce as a consultant for PRT Consulting. As part of the assessment and exercise, you were given problems to answer and then later submit your answers to your team leader

Instructions

The assessment aims to gauge your numeracy and analytical skills which can be vital in your work as a consultant. You need to answer all the questions. The result of the assessment or exercise can be

the basis of the management on the type of training that you will undergo before you can start as a full pledge consultant at PRT Consulting.

Task 2 of S

Part 1

John sells pushchairs on eBay. He buys the pushchair from China at a wholesale price of 2350 and resells them for 2450. He also needs to store them before they are buying dispatched so he rented a garage space for 2800 a month.

1. What is the equation to calculate the profit?

2. How many pushchairs does John need to sell to break even?

3. If John were to sell 23 pushchairs, what would be his profit/loss?

Part 2

Hector has a 21 shop. Everything he sells is sold for 21 and everything he buys cost 20.90. The rent for the store is 22000 a month.

1. What is the equation to calculate the profit?

2. How many items does hector need to sell to break even?

3. If Hector were to sell 15,000 items, what would be his profit/loss

Task S of S

Part 1

Mary sells T-shirts in a stall at the shopping centre. When she charges 215 per T- shirt she does not sell anything, however she noticed that every time she reduces the selling prince by 21, sells 15 more t-shirts per hour. A T-shirt cost 24.50 to make and she is charged 2130 a day for her stall. Mary opens her stall from 10am to 8pm.

1. Write the equation to calculate the maximum profit
2. Using the equation write in a table the price and profit for price ranging from 215 to 23
3. Plot a graph and draw a diagram to represent the profit
4. What is the maximum possible profit? What should be the selling price to achieve it?

Part 2

lisa sells cherries on the market. On her first day, she charges 24 per punnet and sold 20 punnets. On her second day, she charged 23 per punnets and sold 60. On her third day, she charged 22 and sold 100 and when she charged 21 she sold 140 punnets. She thinks there is a relationship between price and quantity sold and asked you for your help. She told you that she buys the cherries for 20.65 and the stall cost her 260 a day. She also said that she would not mind charging

1. Use a table to show the relationship between price and profit/loss

2. Draw a diagram to represent price and profit/loss

3. What is the optimal selling price?

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