Mini Projects in Business Mathematics and Statistics

Theme: Analysing Financial and Statistical Data of Local Sole Proprietorships

Objective: The objective of this exercise is to give students hands-on experience in collecting,
analysing, representing, and interpreting financial and statistical data from local sole
proprietorships. Through this, they will gain practical insights into the application of financial
mathematics and statistics in real-world scenarios.

Student 1: Business Profitability Analysis

Topic: Profitability of Local Food Joints (Restaurants)

Data Collection:

1. Identify five local food joints (restaurants) in the community.

2. Collect data on monthly revenue, expenses, and profit for the past six months from each
restaurant.

3. Interview the owners to gather insights on challenges and opportunities.

Data Analysis:

1. Calculate the average monthly profit for each stall.

2. Determine the profit margin for each stall.

3. Identify any common trends or patterns in the profitability of the food stalls.

Data Representation: Create a bar chart comparing the profit margins of each food stall.

Interpretation: Analyse the factors contributing to the profitability of certain stalls and
propose recommendations for improvement.

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Student 2: Customer Satisfaction Survey

Topic: Customer Satisfaction in Local Tailoring Businesses

Data Collection:

1. Select three local tailoring businesses.

2. Develop a questionnaire to assess customer satisfaction.

3. Conduct surveys with customers of each business, gathering feedback on service

quality, timeliness, and overall satisfaction.

Data Analysis:

1. Summarize the survey results, highlighting areas of strength and improvement for each
business.

2. Calculate an overall satisfaction score for each tailoring business.

Data Representation: Create a pie chart illustrating the distribution of customer satisfaction
scores for each business.

Interpretation: Identify common themes in customer feedback and suggest strategies for
enhancing customer satisfaction in local tailoring businesses.

Student 3: Sales Trends in Local Grocery Stores

Topic: Sales Trends of Basic Commodities in Local Grocery Stores

Data Collection:

1. Choose three local grocery stores in different neighbourhoods.

2. Gather data on the monthly sales of basic commodities (rice, flour, cooking oil, etc.)
for the past year.

3. Investigate any external factors (festivals, holidays) that may influence sales.

Data Analysis:

1. Calculate monthly and yearly sales growth for each grocery store.

2. Identify any seasonality or trends in the sales data.

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Data Representation: Create a line graph illustrating the monthly sales trends for each grocery
store.

Interpretation: Analyse the factors contributing to fluctuations in sales and propose

recommendations for inventory management or promotional strategies.

Document Formatting Tips:

• Your cover page should contain the document header of your institution, course titles,
instructor name, assignment title, student name, date and any other information deemed
necessary.

• Use a professional font (Times New Roman) and maintain a readable font size of 12.

• Maintain consistent formatting for headings, subheadings, and body text.

• Add page numbers at the bottom or top of each page.

• Page margins should be left-3cm, top-2.5cm, left-2.5cm, bottom-2.5cm.

• Proofread the document for grammar, spelling, and formatting errors.

NB:

1. Include the names and contacts of the businesses and business owners you visit.
Snapshots of the business venues visited will be off added advantage.
2. Submission date is Tuesday 30th, it will consist of a submitted document and
presentation of your work to the rest of the class.

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