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    Assignment 1

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    Lubna AlGwaiz
    The document discusses business analytics categories and provides an example of calculating revenues, costs, and break even point for a new t-shirt business. It identifies the three categories of business analytics as descriptive, predictive, and prescriptive. It then works through an example of a business owner calculating revenues, variable costs, and how many shirts need to be sold to break even for her new t-shirt business.

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    Assignment 1

    Uploaded by

    Lubna AlGwaiz
    3 views1 page
    The document discusses business analytics categories and provides an example of calculating revenues, costs, and break even point for a new t-shirt business. It identifies the three categories of business analytics as descriptive, predictive, and prescriptive. It then works through an example of a business owner calculating revenues, variable costs, and how many shirts need to be sold to break even for her new t-shirt business.

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    ASSIGNMENT 1

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    The document discusses business analytics categories and provides an example of calculating revenues, costs, and break even point for a new t-shirt business. It identifies the three categories of business analytics as descriptive, predictive, and prescriptive. It then works through an example of a business owner calculating revenues, variable costs, and how many shirts need to be sold to break even for her new t-shirt business.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    3 views1 page

    Assignment 1

    Uploaded by

    Lubna AlGwaiz
    The document discusses business analytics categories and provides an example of calculating revenues, costs, and break even point for a new t-shirt business. It identifies the three categories of business analytics as descriptive, predictive, and prescriptive. It then works through an example of a business owner calculating revenues, variable costs, and how many shirts need to be sold to break even for her new t-shirt business.

    Copyright:

    © All Rights Reserved
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    of 1

    Assignment 1 – Chapter 1

    Lubna AlGwaiz - 218410346

    1. What are the three categories of business analytics?


    I. Descriptive analytics (what has happened)
    II. Predictive analytics (what could happen)
    III. Prescriptive analytics (what should happen)

    2. Gina Fox has started her own company, Foxy Shirts, which manufactures imprinted shirts for
    special occasions. Since she has just begun this operation, she rents the equipment from a
    local printing shop when necessary. The cost of using the equipment is $350. The materials
    used in one shirt cost $8, and Gina can sell these for $15 each.

    a. If Gina sells 20 shirts, what will her total revenue be? What will her total variable cost
    be?

    V = $8 S = $15 X = 20

    Revenues = S*X

    = 15*20

    = $300

    Total variable cost = V*X

    = 8*20

    = $160

    b. How many shirts must Gina sell to break even? What is the total revenue for this?

    F = $350 V = $8 S = $15 X=?

    BEP = 0 = sX – f – vX  X = f / s - v = 350 / 15 – 8

    X = $50

    Total revenue = S*X

    = 15*50

    = $750

    Gina should sell 50 shirts to break even

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