Interpret and use financial statistics and tool

What you have to do

This assessment consists of 5 Tasks. Each task assesses different elements of competencies. You are required to complete every question in each task in the assessment. Competency requirements.

Competency requirements

Students must achieve a satisfactory result in each element to pass this assessment.

If you do not satisfactorily complete any of the questions (i.e. you do not achieve the nominated passing mark for that question) then you will be required to do a gap assessment or resubmit the entire assessment. Please note you will not be able to attempt the assessment more than twice.

To achieve a satisfactory result in these topics you must achieve the following results for each question:

Task 1

Part A

Explain the following measures of central tendency:

1. Mean
2. Mode
3. Median
4. Mean Deviation
5. Standard Deviation

Part B

You have been provided with the following car sales volume data for the year:

Using the functionality within excel, complete the table below and answer the following questions in the spaces provided (show all your workings).

1. Mean
2. Median.

   Using an excel table – present your data in an ascending array and use excel formulas to calculate the median. Also, show the manual calculation for finding the Median

   

3. Mode
4. Range
5. Mean Deviation
6. Standard Deviation

Task 2

An insurance company's employee pay rates per hour are grouped in the following ranges:

Using the functionality within excel, complete the table below and answer the following questions in the spaces provided (show all your workings).

1. Mean
2. Median
3. Mode
4. Standard deviation
5. Mean Deviation

Task 3

A mobile service company has recorded the length of time taken to repair the machines for each job. Below are the times took (in minutes) for a selection of jobs randomly:

23, 25.37, 27, 61, 42, 45, 27, 47

Calculate the Range, Inter-Quartile Range, semi-inter-quartile Range, and Mean deviation from the data set below:

Task 4

You have been asked to present the following sales data for the year to the Financial

Controller

1. You are required to create a frequency distribution using the FREQUENCY function in Excel for the data provided above.

2. You are also required to use the data and present it using the following:

a. A histogram presenting the frequency distribution created in part a.

b. Create a Frequency curve or Polygon

c. Create a pie chart

3. Explain two types of graphs and charts that are used in statistical modeling and reporting. What purpose do they serve?

4. List two sources of primary data and one source of secondary data available for use within an organization.

Task 5

The following pie chart shows the percentage distribution of the expenditure incurred in publishing a book. Study the pie chart and then answer the questions based on it.

1. If for a certain quantity of books, the publisher has to pay $22,800 as printing cost, then what will be the amount of Promotion Cost to be paid for these books?
2. If the price of the book is marked 25?ove the Cost Price. If the marked price of the book is $160 then what is the cost of the book?
3. The price of the book is marked 25?ove the Cost Price. If the marked price of the book is $160, then what is the cost of the paper used in a single copy of the book?
4. Using the information in the Pie Chart and the Printing cost of the book being $22,800 how much less is the promotion cost than the printing cost of the book?
5. Using the information in the Pie Chart and if the Printing cost of the book being $30,800 how much less is the promotion cost than the printing cost of the book?

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