QMB Project Assignment | Homework Help Websites
Only 1st question (chart)
The company has hired your group as consultants to determine whether they should expand their services. Using the case and information provided, groups will conduct analyses. A decision of whether or not to expand will be made based on the results of the analyses conducted. 2 paragraphs explaining.
Group Project
QMB 3200
PROJECT DETAILS
Miami Investigations, Inc. provides investigative solutions to its customers. Its customers include both individuals and businesses. The company is a successful local mid-sized organization located in Miami-Dade County and employs approximately 200 individuals. Within the company there are several departments. These departments include Finance and Accounting, Marketing, Sales, HR, Customer Support, and IT. Miami Investigations, Inc. currently has established processes and is utilizing several systems for its business, including a MS SQL Server DBMS, a SalesForce CRM, and MS SharePoint among other common tools such as MS Office. Additionally, an intranet is utilized for communication of information to and between employees. The Company offers the following as part of its portfolio of services to its customers:
- Infidelity and personal investigations
- Background checks
- Corporate investigations
- Worker’s compensation investigations
- Computer fraud and forensics
- Fraud and theft investigations
Miami Investigations, Inc. is growing and considering expansion of its services to another market segment, Broward County. You have been provided the following data on the company: 1) 5-yr budget forecast of expansion; 2) Price list of services offered; 3) Sample customer information from CRM; and 4) community income statistics for both Broward and Miami-Dade Counties.
Using the data provided, conduct an analysis using each the methods as described below. Using the results obtained from the analyses, determine if Miami Investigations, Inc. should expand to Broward County. You should provide a full explanation of the decision and use the results from items 1 – 4 below to support your decision.
Methods of Analysis
- Using the Net Revenues provided in the income statement, graph a trend analysis (line graph) of the forecasted revenue (loss). Be sure to label the graph.
- Using the data provided from the CRM on its customers and the price list of services, a) create a pivot table to summarize the data into a table (this will be a frequency table which should show the breakdown of services by customer type and the average revenue for each service by customer type; b) perform descriptive statistics (should include mean, median, and standard deviation) on the prices each customer paid for services for all customer types together; and c) using pivot table created in part a), create two graphs of the data – one based on revenue and the other based on count of customers. These graphs can be any type of your choosing (i.e. pie, line, bar, stacked bar, etc.) The graphs must include labels.
- Conduct a hypothesis test comparing the mean median income of Broward County and Miami-Dade County.
- Looking at the services businesses purchased versus consumers purchased, conduct a one-way ANOVA to compare the average amount spent between the two groups.
Use z for hypothesis test α = .05 Should graphs in 2) be the same?
| Income Statement 2016 | Expansion Forecast | Expansion Forecast | Expansion Forecast | Expansion Forecast | Expansion Forecast | |||||||
| Miami, FL Office | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||||||
| REVENUES | ||||||||||||
| Services | $10,000,000 | $ 1,000,000 | $ 2,000,000 | $ 3,500,000 | $ 5,000,000 | $ 6,500,000 | ||||||
| Total Revenues | $10,000,000 | $ 1,000,000 | $ 2,000,000 | $ 3,500,000 | $ 5,000,000 | $ 6,500,000 | ||||||
| EXPENSES | ||||||||||||
| Salaries | 4,100,000 | 325,000 | 325,000 | 325,000 | 325,000 | 325,000 | ||||||
| Rent expense | 60,000 | 8,200 | 8,200 | 8,200 | 8,200 | 8,200 | ||||||
| Utlities expense | 6,200 | 2,800 | 2,800 | 2,800 | 2,800 | 2,800 | ||||||
| Office supplies | 625,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | ||||||
| Office equipment | – | 500,000 | – | – | – | – | ||||||
| Subscriptions & licensing | 1,200,000 | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | ||||||
| Total Expenses | $ 5,991,200 | $ 986,000 | $ 486,000 | $ 486,000 | $ 486,000 | $ 486,000 | ||||||
| Net Income (Loss) | $ 4,008,800 | $ 14,000 | $ 1,514,000 | $ 3,014,000 | $ 4,514,000 | $ 6,014,000 | ||||||
