Management Answers

The following sample observations were randomly selected.

X 4 5 3 6 10

Y 4 6 5 7 7

Determine the regression equation. (6 marks)

i. The following hypotheses are given.

1

: 0

: 0

H

H





=



A random sample of 12 paired observations indicated a correlation of 0.32. Can we

conclude that the correlation in the population is equal to zero? Use 0.05 level of

significance. (3 marks

STEP SIX Referencing used in your research (Rubric Criteria 9 and 10) 

6.1 Listing of references done at the end of the project 

6.2 Referencing used throughout the project 

6.3 Correct quoting from referencing 

6.4 Relevance of content from references 

6.5 Acknowledgement of all internet references

Section D: Viability of the business (Rubric Criteria 8) 

5.6 Continuity and competitive rivalry 

5.7 Good governance / management 

5.8 Demand for the product / service chosen 

5.9 Affordability of the product for the customers 

Section B: Forms of ownership and legal requirements (Rubric Criteria 6) 

5.2 The chosen form of ownership, with motivation 

5.3 Legal requirements, e.g. will your business need any license or permit?

Section C: Marketing and financial aspects (Rubric Criteria 7) 

5.4 How will you market / promote your business (marketing plan include the 4 Ps) 

5.5 Financing of the business (how the capital can be raised) 

STEP FIVE (Rubric Criteria 5, 6, 7 and 8) 

5. Develop a business plan (ANNEXURE 4) based on the following areas: 

Section A: Location (Rubric Criteria 5) 

5.1 Business location decisions with Motivation (the reasons for the choice of 

the business location) 

STEP THREE (Rubric criteria 4)

4. Compile a SWOT analysis (ANNEXURE 3) based on your findings from 

conducting interviews / information obtained from the questionnaires. Your SWOT 

analysis should include the following aspects of the business you chose: 

4.1 Strengths of your business

4.2 Weaknesses of your business

4.3 Opportunities of your business 

4.4 Threats to your business posed by competitors and the business

environment

(a) Clients’ satisfaction levels with products or services that are currently 

being offered. 

(b) Demographics of the community, e.g. age group/gender/income/education/

Specific preferences, etc. 

(c) Identify a product / service for which the new product / service will be a 

substitute 

(d) Geographical position of a potential new business

(e) Are there any competitors for your product or service? 

3.2 Conduct a research or an investigation using your research 

instrument

STEP THREE (Rubric criteria 3)

3. Develop a research instrument (ANNEXURE 2) (Refer to example) to find out if 

your target market will be interested in buying a product or service you have 

identified. 

3.1 The research instrument can either be a questionnaire or an interview 

schedule and must be based on the following aspects: 

STEP TWO (Rubric criteria 2) 

2 Design a consent form (ANNEXURE 1) for the participants (Refer to example). 

The consent form should 

include the following aspects: 

2.1 An introduction about yourself.

2.2The purpose of the interview

2.3 An assurance that the participant name will not be mentioned.

2.4 Inform the participants that participation in the study is voluntary.

2.5 Mention that their responses will be kept confidential

STEP ONE (Rubric criteria 1)

1. Identification of the product / service that you would like to sell.

Visit at least two local businesses in your area and observe the following

aspects:

1.1 Customers’ buying behaviour, e.g., what are the goods and services

they frequently purchase?

1.2 Identify a product or service that is in demand and is not currently offered

by these businesses in the area, you choose.

1.3 Identify the type of customers that are more likely to purchase the identified

product or service