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2.2 Assignment: Data for Questions
2.2 Assignment Data for Questions (50 pts) Due at (11:59) pm of Day 7 of Week 2
You are provided two different business settings below. Select one of these business settings and define and describe the data required for addressing the question that is being asked. As part of your submission, please define the problem being addressed in the setting and why you collected the data that you collected.
Business Settings
Business Setting 1:
Many retail stores, such as grocery stores and discount stores, experience long lines during peak periods of the day. The problem is noticeably worse on certain days of the week, such as weekends and before holidays, or when there are sales promotions. There are usually enough workers on the job to open all cash registers. The problem is knowing when to call some of the workers who are performing other activities, such as stocking shelves or helping customers in the store itself, to the front to work the checkout counters. What type of data would be needed to facilitate good decisions here?
Business Setting 2:
For the past year, you have consistently been short of cash at the end of the month. Prior to one year ago, you always had enough cash. However this is no longer the case. Now you are usually short at the end of the month. As a result, you are only making partial payments on your credit card obligations or are making payments late, hence incurring late fees. You want to prepare a budget for the next six months with the objective of being able to meet your monthly financial obligations each month.
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