Shrimp Market Analysis

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Introduction Forrest Gump, a third year College student has just completed an internship at Candy Empire who is rather pleased with his performance. Therefore, Candy Empire has offered Gump a job as a Marketing Executive for a pay scale of $80,000. However, through the 6-months internship, he understood that the lifestyle of a marketing executive is taxing. Moreover, he has always wanted to maintain a healthy personal life. As such, Gump has also come up with a few alternatives. He has always wanted to pursue a shrimp fishing business. Gump knows an agriculture enthusiast who owns a fishing farm and after speaking to him about his interests, he has told him that if there is a need for funds, he is willing to invest in his business. However, there will be conditions tied to it. Gump can choose to start his own business using his life-savings or get an investor into his business, in this case, his friend. On the other hand, Gump can choose to accept the job offer from Candy Empire. Situational Problem To maintain a comfortable lifestyle in Gump’s context in Singapore, he estimates that a salary of $40,000 is needed. This $40,000 is an amount we have to take into consideration for Gump to eventually make a decision. Assumptions Theory of Large Numbers: As the simulation works on a sample size of 1000, the values follow a normal distribution. Wage, cost of diesel and ice remains constant throughout the year The business for proprietorship and partnership, job offer are all based on 1-year contracts. Source of Data Selling Price of Shrimps: “During those intervening years, the average annual price had fluctuated roughly between 80 cents and $1 per pound, but in 2006 and 2007 the average annual statewide price had fallen to around 30 cents per pound. In 2008, Maine landings had risen back to 8.4 million pounds and the state's average annual price

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