Make bounded decisions within the launch scenario
Now it's your turn to make some bounded business decisions. Remember: you don't have all the answers yet—that's what the rest of this unit will teach you. But you can use your business judgment to make reasonable choices.
Instructions: Read each scenario, choose the option you think is best, then see the consequence. Think about why your choice matters to profit and waste.
Analysis: A 2pm discount strategy typically captures price-sensitive customers while there's still time to sell. This reduces waste without sacrificing morning full-price sales.
Analysis: A moderate reduction accounts for the rain but preserves some buffer for unexpected walk-by traffic. Exact prediction is impossible, but the 30% guideline is a reasonable starting point.
Analysis: The right answer is 'need more data.' Before choosing, you'd want to know: How many customers are lost with 2 baristas? Is the $50 difference worth the customer experience? This is exactly what descriptive statistics will help calculate.
Notice how each decision involves trade-offs between profit and waste? In scenario 3, the right answer was "need more data"—because without numbers, you're just guessing. That's exactly why this unit exists. By the end, you'll have the statistical tools to make these decisions with confidence.