TMA 02
Note on the use of Generative Artificial Intelligence (AI) for B126 assessments
This assessment falls into Category 1 of the guidelines for Generative AI use by students.
This means that you cannot use Generative AI to complete the assessment.
Some assessment questions are designed to help you practise and demonstrate basic knowledge and skills (including the application of concepts, developing arguments and following procedures) needed for your study and employment. This category typically applies when the use of AI tools would prevent you from acquiring those skills.
Using Generative AI for this category is subject to academic conduct procedures.
Regardless of what category your assessment falls under, remember that:
- you cannot enter the questions or other OU module materials into AI tools.
- your assignments must be your own work, spoken or written in your own words and therefore represent your own voice, properly referenced to indicate sources you have used.
You should also look at the Good Academic Practice Collection on OpenLearn.
Requirements
Cut-off date: 15 July 2025
You must submit your assignment no later than 12 noon (UK local time) on the cut-off date.
Your complete submission requires two mandatory components:
- a Microsoft Word document containing your detailed responses to the assignment questions
- a supplementary Microsoft Excel spreadsheet demonstrating your calculations and workings.
To submit two files, you will need to zip them together. For information on zipping your files, see Zipping (combining and compressing) your files in the Help Centre.
The total word limit for this TMA is 1,100 words.
Note that numbers, numeric calculations, chart and table headings, and other data copied from Excel are not included in the word count.
There is a word limit specified for each TMA question. This word limit functions as an upper threshold rather than a target objective. You are encouraged to write concise responses that fall below this maximum limit, provided they adequately address the assignment requirements.
The TMA will be marked by your tutor and accounts for 35% of your total assessment for the module.
The marking scheme allocates partial marks throughout the assignment. You should therefore demonstrate your complete thinking process and show all relevant workings, even if you are uncertain about your final answer. You can earn substantial marks by displaying sound analytical thinking and proper methodology, even if your final conclusion is not entirely accurate. This approach allows your tutor to award marks for correct steps in your problem-solving process.
Before beginning work on TMA 02, make sure that you:
- Read the instructions on completing and submitting your assignments in the Assessment Guide. This guide is available under the ‘Assessment’ tab on the module website.
- Read the Guidance notessection of this TMA document. It contains information on how to approach this assignment.
Learning Outcomes
The following learning outcomes will be assessed in this TMA:
Knowledge and understanding
- Be aware of methods, tools and techniques related to problem solving for decision making in a business context, including the use of spreadsheets for data analysis and hypothesis testing.
- Describe the principles involved in data analysis techniques and reasoning for decision making in business, accounting and finance.
Cognitive Skills
- Carry out exploration of information and data related to problem solving for decision making with a range of business data resources and appropriate methodologies.
Key Skills
- Apply quantitative methods, tools and techniques to decision-making problems in business, accounting and finance.
- Communicate effectively in writing, including appropriate data presentation techniques, in a range of traditional and electronic media.
Practical and/or professional skills
- Reflect on feedback received with the purpose of identifying areas for further improvement.
Assignment questions
TMA 02 has five questions. You must answer each question. Before doing so, ensure that you have read the materials and guidance notes related to each question.
For the purpose of this TMA, imagine the following scenario:
TMA 02 scenario
Maria is an entrepreneur and owner of a chain of sustainable product stores. She is looking to expand her business by launching a new product line targeting environmentally conscious consumers.
Maria has gathered various data sets and seeks expert advice on how to use them effectively to make informed decisions.
You will take on the role of a consultant tasked with helping Maria interpret the data, identify actionable insights and make strategic recommendations.
Question 1 (20 marks)
How can Maria leverage the five V’s of big data to understand her customer base and market trends, and what recommendations would you make based on a real-world example of successful big data implementation in business?
Your answer to Question 1 should be no more than 400 words.
Read the guidance notes for Question 1 before preparing your answer.
Question 2 (20 marks)
In order to support Maria’s analysis, you are considering two probability distributions: the standard normal distribution and the distribution. Describe their key characteristics.
Your answer to Question 2 should be no more than 400 words.
Read the guidance notes for Question 2 before preparing your answer.
Question 3 (20 marks)
Maria is evaluating a £3,000 advertising campaign with three potential outcomes:
- small success (10% probability)
- moderate success (70% probability)
- high success (20% probability).
For a small success, there is an 80% chance of a profit increase by £800 and a 20% chance of an increase by £3,000. Moderately successful campaigns have a 40% chance of a £6,000 profit increase and a 60% chance of a £3,000 increase. Highly successful campaigns have a 60% chance of a £6,000 profit increase and a 40% chance of a £3,000 increase.
Using decision tree analysis, can you help Maria to determine whether she should proceed with the advertising campaign by calculating the expected value? For simplicity, assume that profits are non-taxable.
Your answer to Question 3 is computational and no word limit is imposed here.
Read the guidance notes for Question 3 before preparing your answer.
Question 4 (20 marks)
Maria has launched two product lines, ‘Product A’ and ‘Product B’, in her stores and needs to evaluate their performance for strategic decision making.
Use the spreadsheet that contains the data for Product A and Product B (available under the ‘Assessment’ tab on the module website) and conduct hypothesis tests (α = 0.05) to:
- determine if Product A’s average customer satisfaction score exceeds the 6.5 benchmark (given population standard deviation of Product A = 1.5)
- understand if there is a statistically significant difference in customer satisfaction between Product A and Product B to refine Maria’s marketing strategy.
Your answer to Question 4 is computational and no word limit is imposed here.
Read the guidance notes for Question 4 before preparing your answer.
Question 5 (20 marks)
Use the spreadsheet that contains the data for Product A and Product B (available under the ‘Assessment’ tab on the module website) and help Maria evaluate her product expansion decision by analysing Product B’s customer satisfaction scores against the market benchmark of 6.5 (α = 0.05), which she believes her product significantly exceeds. Specifically:
- discuss the potential impact of Type I and Type II errors in this context
- calculate and interpret the effect size to determine if it supports Maria’s belief.
Based on your findings, provide recommendations for Maria’s product expansion decision.
Your answer to Question 5 should be no more than 300 words.
Read the guidance notes for Question 5 before preparing your answer.
Guidance notes
Before you start work on the assignment questions, you will need to download and save the spreadsheet Product A and Product B data. This is available under the ‘Assessment’ tab on the module website.
You will need to produce all your calculations and charts using Excel and submit this spreadsheet with your Word document through the online TMA/EMA service. Marks will be awarded for using the correct formulas.
To submit two files, you will need to zip them together. For guidance on zipping your files, see Zipping (combining and compressing) your files in the Help Centre.
All references to the module materials should be included in a separate section of your Word document called ‘References’ at the end of the TMA. You do not need to refer to external sources to complete this assignment, but if you do you should include these sources in your reference list. For information on referencing, see the Assessment Guide.
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