| Course | BUS-2100 Quantitative Skills for Business |
|---|---|
| Module | Module 2 |
| Paper type | Module project 2: managerial applications of statistics and probability |
| Length | About 832 words, 6 pages |
| Format | APA 7 student paper |
| School | Thomas Edison State University |
| Program | Bachelor of Science in Business Administration |
| Updated | October 2026 |
Free sample paper for BUS 2100 Module 2
Higher Average, Riskier Days: Statistics for a Food Truck's Location Choice
Student Name
Bachelor of Science in Business Administration, Thomas Edison State University
BUS-2100: Quantitative Skills for Business
Mentor Name
Month Day, Year
Higher Average, Riskier Days: Statistics for a Food Truck's Location Choice
The Decision
A composite food truck operator in Austin, Texas, must decide where to park on weekday lunches for the coming season: an office park on the north side with covered seating, or a downtown plaza with heavier foot traffic and no shelter. The owner recorded sales at each site on 20 weekdays in the spring. The truck needs about $1,000 in daily sales to cover food, staff, fuel and permits. Wisniewski and Shafti (2020) present descriptive statistics and probability as tools for summarizing such data and reasoning about risk, which is what this decision requires.
Descriptive Statistics
Daily sales were entered in a spreadsheet and summarized with the AVERAGE, MEDIAN, STDEV.S, MIN and MAX functions.
| Statistic | Office park (A) | Downtown plaza (B) |
|---|---|---|
| Days observed | 20 | 20 |
| Mean daily sales | $1,232.00 | $1,297.50 |
| Median daily sales | $1,245.00 | $1,405.00 |
| Standard deviation | $119.70 | $402.40 |
| Coefficient of variation | 9.7% | 31.0% |
| Minimum and maximum | $960 to $1,410 | $610 to $1,830 |
| Days below $1,000 | 1 (5%) | 6 (30%) |
The plaza has the higher average, by $65.50 a day, but far more variability. Dividing each site's standard deviation by its own average puts them on one scale, and on that scale the plaza's daily takings swing about three times as widely as the office park's. At the plaza, the median exceeds the mean by more than $100, which indicates that a group of very low days pulls the average down, a left-skewed pattern a histogram would show clearly.
Probability of Missing Break-Even
Two approaches estimate the chance of a day below $1,000. The empirical probability is the observed share of days: 1 in 20, or 5 percent, at the office park and 6 in 20, or 30 percent, at the plaza. A normal model gives a second estimate. At the office park, $1,000 lies (1,000 minus 1,232) / 119.7 = -1.94 standard deviations below the mean, and the normal distribution assigns about a 2.6 percent probability to values that low. At the plaza, the z-score is (1,000 minus 1,297.50) / 402.4 = -0.74, about a 23 percent probability.
The two methods agree closely for the office park but not for the plaza, where the normal model underestimates the risk. The reason is that the plaza's sales are not shaped like a normal curve; they cluster into good days and bad days. Ghasemi and Zahediasl (2012) advise checking a distribution's shape, with a plot or a normality test, before relying on normal probabilities, and this case shows why.
What Explains the Bad Days?
The owner's notes show that it rained on 7 of the 20 plaza days, and 6 of those 7 days fell below break-even. No dry day did. The conditional probability of missing break-even at the plaza given rain is therefore 6 / 7, about 86 percent, and given dry weather it is 0 / 13. On dry days the plaza averaged $1,553 with a standard deviation of about $208; on rainy days it averaged about $823. The office park, with covered seating, showed no comparable drop.
Expected Value of a Switching Rule
The conditional analysis suggests a strategy rather than a single site: park at the plaza on days with a dry forecast and at the office park when rain is forecast. If 13 of 20 days are dry, as in the sample, expected daily sales are (13 / 20 x $1,553) + (7 / 20 x $1,232) = about $1,441, compared with $1,297.50 for always choosing the plaza and $1,232 for always choosing the office park. Over a 120-day season, the difference between the switching rule and always using the plaza is roughly $17,000 in sales.
Cautions
Twenty days per site is a small sample, and spring weather may differ from summer. Forecasts are not always right, so real results will fall short of the calculation. Tversky and Kahneman (1974) showed that people often rate an event as likely when instances are easy to recall, so a memorable great day at the plaza can make it seem safer than it is; the coefficient of variation and the count of bad days counter that bias with data.
Building the Analysis in a Spreadsheet
The full analysis takes one worksheet. Daily sales go in two columns with a third for weather, and the summary statistics come from AVERAGE, MEDIAN and STDEV.S. COUNTIF counts days below break-even, and NORM.DIST with the TRUE option returns the normal probability. AVERAGEIFS gives the dry-day and rainy-day means. A histogram for each site, built with the FREQUENCY function or a chart, shows at once why the plaza's distribution is not normal. Keeping the raw data and formulas together lets the owner add new days during the season and watch the probabilities update.
Recommendation
The owner should adopt the weather-based switching rule for the season, track sales by site and weather each day and recalculate the averages and probabilities monthly. If the plaza adds a covered area, its rainy-day risk should be reassessed.
References
Ghasemi, A., & Zahediasl, S. (2012). Normality tests for statistical analysis: A guide for non-statisticians. International Journal of Endocrinology and Metabolism, 10(2), 486-489. https://doi.org/10.5812/ijem.3505
Tversky, A., & Kahneman, D. (1974). Judgment under uncertainty: Heuristics and biases. Science, 185(4157), 1124-1131. https://doi.org/10.1126/science.185.4157.1124
Wisniewski, M., & Shafti, F. (2020). Quantitative analysis for decision makers (7th ed.). Pearson.
What the BUS 2100 Module 2 instructions ask for
The second BUS-2100 module project applies statistics and probability to a business decision, and it comes before the first proctored exam at the end of Module 2. Expect data or a scenario that calls for measures of center and spread, probability estimates and an expected value. Summarize the data in a table built with spreadsheet functions, compare variability with the coefficient of variation when means differ, and check whether a normal model fits before using it. Look for a variable that explains unusual values, and use conditional probability if one does. Close with a plain-language recommendation the owner or manager can use. Show each formula once, then the result.
Inside the BUS 2100 Module 2 example
The project frames a real decision, then summarizes the data in a table that names the spreadsheet functions used. It interprets each statistic rather than just reporting it, noting skew from the gap between median and mean. Probabilities are estimated two ways, and the disagreement between them becomes a lesson about distribution shape. A conditional probability explains the bad days and leads to a better strategy than either site alone, which an expected-value calculation quantifies. Cautions about sample size and judgment bias, and a short recommendation with monitoring, close the paper. Each step builds on the previous one. Notice how one table supports every later step of the analysis.
Reading the BUS 2100 Module 2 grading rubric
The second module project is marked out of 100. Mentors look for correct calculations with the right formulas, especially for standard deviation, z-scores and probabilities, and for interpretation that explains what each number means for the decision. They reward checks on assumptions, such as whether data are roughly normal, and the use of the coefficient of variation to compare spread. Expected-value reasoning should state its assumptions. Tables or charts should be clear and labeled. A concise recommendation and objective third-person writing complete the grade. Reports that list statistics without connecting them to the question asked lose points. Clear statements of assumptions also earn credit with mentors. Clarity counts.
BUS 2100 Module 2 help: mistakes that cost marks
A frequent error is choosing the option with the higher average without considering variability or the chance of a bad outcome. Another is applying the normal distribution to data that are clearly skewed or clustered. Our writers can prepare BUS 2100 module projects using your module's data. Start by computing the mean, median, standard deviation and coefficient of variation for each group, and plot the data to see its shape. Compare empirical and normal probabilities for the outcome you care about, and look for a variable that explains the extremes. Then calculate expected values for the realistic choices and recommend one. Keep the spreadsheet so each figure can be checked. Then recheck the arithmetic.
Write yours, or have the desk draft it
This paper is an original model document written by our desk, not a submitted student paper and not an official Thomas Edison State University document. Read it for the moves, then write your own to the instructions in your classroom. If you want one built to your exact prompt and rubric, the first custom sample is free and arrives in 24 to 48 hours.
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BUS 2100 Module 2 questions, answered
Where can I find a free BUS 2100 Module 2 sample paper?
The second Quantitative Skills for Business module project is shown above, comparing a composite food truck's sales at two sites with descriptive statistics, probability and expected value.
What is the coefficient of variation?
The standard deviation divided by the mean, which lets you compare variability between groups with different averages.
When should you not use a normal probability?
When the data are clearly skewed or clustered; compare the normal estimate with the observed share of outcomes before relying on it.
What is a conditional probability in business?
The probability of an outcome given a condition, such as the chance of missing break-even given rain.
When are the BUS-2100 exams?
There are three proctored exams, after the second, fourth and sixth modules.