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Sample Quantitative Questions Chapter 2

Sample Quantitative Questions Chapter 2. Ted Mitchell. 1) Forecasting from an experience with a single point of performance.

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Sample Quantitative Questions Chapter 2

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  1. Sample Quantitative Questions Chapter 2 Ted Mitchell

  2. 1) Forecasting from an experience with a single point of performance • You are currently selling 1,200 cups of coffee using 20 servers with a performance rate of 60 cups per server. You are considering an increase of 2 more servers next week. • What can you forecast as your anticipated sales for next week?

  3. # 1 Forecast Output From a Proposed Input

  4. # 1 Forecast the Output From a Proposed Input

  5. #2 Calculate an Average Performance • You own 3 coffee shops • In shop #1 you are open 110 hours, selling 13 cups per hour for a total sales of 1,430 cups each week • In shop #2 you are open 80 hours, selling 16 cups per hour for a total sales of 1,280 cups each week • In shop #3 you are open 90 hours, selling 14 cups per hour for a total sales of 1,260 cups each week • What is the average number of open hours, the average cups per hour, the average cups sold each week?

  6. #2 What is the average performance? The average rate of cups per hour is NOT(13+16=14)/3 = 33/3 = 11cps

  7. #2 What is the average performance? The average rate of cups per hour is NOT(13+16=14)/3 = 33/3 = 11cps

  8. #3 Compare Two Performances • You have two coffee shops. • In shop #1 you have 20 servers and they sell coffee at a rate of 60 cups per server for a total of 1,200 cups • In shop #2 you have 22 servers and they sell coffee at a rate of 56 cups per server for a total of 1,232 cups • What is the difference in the number of servers, the cups sold per server, the total cups sold.

  9. #3 Comparing Two Performances

  10. #3 Comparing Two Performances Difference in the two ratios or rate of cups per server is NOT ∆Q/∆S = 16 cps We do use ∆Q/∆S and treat it as the ratio of two differences

  11. ∆Q/∆S ≠ ∆cps • 1)the difference between two ratios or rates • difference in cups per server = cps2 – cps1∆cps = (Q2/S2) – (Q1/S1) • Is NOT the same thing as • 2) The rate or ratio of two differences ∆Q/∆S = (Q2-Q1) / (S2-S1)

  12. We Use • 1) The difference between two ratios or rates when comparing two performances for diagnostic purposes • difference in cups per server = cps2 – cps1∆cps = (Q2/S2) – (Q1/S1) • 2) The rate or ratio of two differences when calculating the meta-conversion rate for a meta-marketing machine. • ∆Q/∆S = (Q2-Q1) / (S2-S1)

  13. #4 Construction of A Meta-Marketing Machine From Two Performances • You have observed two coffee shop performances. • In observation #1 you have 20 servers and they sell coffee at a rate of 60 cups per server for a total of 1,200 cups • In observation #2 you have 22 servers and they sell coffee at a rate of 56 cups per server for a total of 1,232 cups • What is the equation for the Meta-marketing machine with the calculated meta-conversion rate, m?

  14. The Meta-Marketing Machine • Output, ∆O = (meta-conversion rate, m) x Input, ∆I • ∆O = (meta-conversion rate, m) x ∆I • Meta-conversion rate, m = ∆O/∆I

  15. #4 Create a Meta-Marketing Machine

  16. The Meta-Marketing Machine • Output, ∆O = (meta-conversion rate, m) x Input, ∆I • ∆O = (meta-conversion rate, m) x ∆I • Observed change in the output, ∆Q = 32 cups • Observed change in the input, ∆S = 2 servers • Calculated meta-conversion rate, m =∆O/∆Im = (32 cups/2 servers) = 16 cps • Calibrated ‘coffee selling-server’ meta-machine is • Change in cups ∆Q = (16 cps) x proposed ∆servers

  17. Why The Two-Factor Meta-Machine • 1) More Accurate ForecastIt provides a more accurate forecast of anticipated outcomes given a proposed change in Input • 2) More Realistic Description of relationships It provides a more realistic description of the relationship between the inputs and the outputs of the marketing machine

  18. Any Questions?

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