1. http://www.bized.co.uk Copyright 2005 – Biz/ed Business Analysis Please place this information in your notebook. What do you think Business analysis means? Why would this be important?

2. http://www.bized.co.uk Copyright 2005 – Biz/ed Business Analysis 2. Why would collecting data be important to a business? Explain in full sentences. 3. Why is forecasting in a business very important? Explain in sentences.

3. http://www.bized.co.uk Copyright 2005 – Biz/ed Data 4. Why would it be important to a company to have someone present the forecast for the company. Explain in full sentences. 5. Why would it be important to a company to understand the limitations of production or sales after a forecasting meeting? Explain in full sentences.

4. http://www.bized.co.uk Copyright 2005 – Biz/ed Analysis Trends –Growth rates –Nominal –Average Mean Median Mode –Variance Standard deviation Range –Time series analysis –Scatter graphs Correlation 6. What is a trend? Explain in full sentences. 7. What is meant by Nominal? Explain in full sentences. 8. What is meant by mean, median, and mode? Explain in full sentences. 9. What is meant by variance? Explain in full sentences. 10. What is meant by standard deviation? Explain in full sentences. 11. What is meant by Time series analysis? Explain in full sentences.

5. http://www.bized.co.uk Copyright 2005 – Biz/ed Presentation Graphs Charts Tables Index numbers –Laspeyres –Paasche 12. What is correlation? Explain in full sentences. 13. Why is a graph easy to examine and analysis? Explain in full sentences. 14. What is a Laspeyres? Explain in full sentences. 15. What is Paasche? Explain full sentences.

6. http://www.bized.co.uk Copyright 2005 – Biz/ed Forecasting 16. In forecasting there are a few items you must have to make a true analysis of the situation. What is meant by qualitative and give a example as it relates to forecasting. 17. In forecasting there are a few items you must have to make a true analysis of the situation. What is meant by quantitative and give a example as it relates to forecasting.

7. http://www.bized.co.uk Copyright 2005 – Biz/ed Qualitative Focus groups User groups Panel surveys Delphi method In-house judgements 18. When examining your qualitative analysis you could have a focus group. Explain what a focus group is. 19. You may want to have a Delphi method of qualitative data collection. What does this mean? 20. What would be a In-house judgment? Explain in full sentences. 21. What is a Panel survey? Explain in full sentences.

8. http://www.bized.co.uk Copyright 2005 – Biz/ed Quantitative Surveys Sales data Impact on sales 22. Why would you want to collect sales data? Explain in full sentences. 23. If you forecast that you are not making any money with a certain product why would this have a impact on sales. Explain in detail.