Question Details

(Solved) ASSESSMENT ANSWER.....................................


ASSESSMENT ANSWER.....................................


Wentworth Institute

 

ASSESSMENT COVER SHEET

 

STUDENT SURNAME:

 


 

UNIT CODE NO:

 


 

STUDENT FIRST NAME:

 


 

UNIT NAME: Interpret and use financial statistics and tools

 


 

FNSINC602A

 

ASSESSOR?S NAME:

 


 

STUDENT NUMBER:

 


 

ASSESSMENT TASK: CLOSED BOOK EXAM

 


 

DATEOF ASSESSMENT:

 


 

ELEMENTS OF PERFORMANCE CRITERIA(S)

 


 

ELEMENTS 1, 2,3 & 4

 


 

STUDENTS SIGNATURE: ___________________________ DATE: _______________

 


 

Assessment Task 2

 

This assessment consists of 1 (One) part all of which must be answered.

 

The instructions to complete this assessment are included on the following page.

 

Follow the instructions with each question.

 


 

Answer the following questions:

 

V1.0 February 2015

 


 

Updated by Kazi

 


 

FNSINC602A Interpret and use financial statistics and tools

 


 

1. What is Statistics and describe its scope.

 

2. What is the difference between sample statistics and population parameters?

 

3. Sean is in a large school where the scores for mathematics are normally distributed

 

with a mean (?) of 55 and a standard deviation (?) of 10. Sean has passed his

 

mathematics exam with a score of 80. Carole is from a similar school where the

 

scores for mathematics are normally distributed but they take a different examination

 

which has a mean of 30 and a standard deviation of 5. Carole?s score is 42. Who has

 

done better in the mathematics exams? Differentiate between random sample and

 

bias sample?

 

4. What is time series analysis? Describe the uses of time series analysis.

 

5. What is cash flow forecasting? What can you use it for? How to prepare a cash flow

 

forecast.

 

6. How do you interpret the confidence levels associated with interval estimation?

 

7. Explain the data and information functions of the following regulatory bodies:

 

a. Reserve Bank of Australia

 

b. Australian Taxation Office (ATO)

 

c. Australian Bureau of Statistics ( ABS)

 

d. National Statistical Service(NSS)

 

e. Australian Securities and Investments Commission (ASIC)

 

f. Australian Prudential Regulation Authority (APRA)

 

8. What do you understand by point estimation and interval estimation? How trend

 

analysis can improve business performance?

 

9. A new approach to instructing students is adopted by the Institute. You are asked to

 

design a test to establish if it has had an impact on the performance of the students.

 

Is this going to be a one-tailed or a two-tailed hypothesis test?

 

10. Create chart and pie chart for each quarter based on the following information:

 


 

WINSTON'S SOFT DRINKS

 

ANNUAL SALES FIGURES

 

ACT

 

NSW

 

NT

 

QLD

 

SA

 

TAS

 

VIC

 

WA

 


 

V1.0 February 2015

 


 

Updated by Kazi

 


 

Q1

 

15005

 

55896

 

7890

 

32088

 

20415

 

18035

 

48985

 

30156

 


 

Q2

 

13568

 

67065

 

3564

 

28981

 

18465

 

22350

 

55657

 

30003

 


 

Q3

 

11684

 

60235

 

5540

 

33457

 

19846

 

21984

 

54687

 

27982

 


 

Q4

 

17985

 

59648

 

8403

 

30047

 

17652

 

21987

 

56421

 

29856

 


 

TOTAL

 

58242

 

242844

 

25397

 

124573

 

76378

 

84356

 

215750

 

117997

 


 

FNSINC602A Interpret and use financial statistics and tools

 


 

TOTAL: 228470 239653 235415 241999 945537

 

11. In what ways are normal distribution and the t-distribution similar and in what way do

 

they differ?

 

12. What are the different types of errors in statistical data? Provides some examples.

 

13. What is the Null Hypothesis? When can we say we have proved the Null Hypothesis?

 

14. Explain why some researchers or statisticians believe that using the t-test for

 

hypothesis testing is better than using the Z-score.

 

15. What do you understand by the term ?level of significance??

 


 

Checklist for Assessment

 

Assessment 2

 

Student Name:

 

Assessor Name:

 

Unit of Competency:

 


 

FNSINC602A Interpret and use financial statistics and tools

 


 

Elements and

 

Performance Criteria(s)

 


 

Elements 1, 2,3 & 4

 


 

Note any special

 

conditions:

 


 

C

 


 

Assessor Comments

 


 

Short questions

 


 

Result :

 


 

V1.0 February 2015

 


 

Updated by Kazi

 


 

C

 


 

NYC

 


 

FNSINC602A Interpret and use financial statistics and tools

 


 

NYC

 


 

Feedback to student

 


 

This signature confirms that the student agrees that the above record is a true reflection of the task performed.

 


 

Student signature: ___________________Date:_________________________

 


 

Assessor signature: __________________ Date:_______________________

 


 

V1.0 February 2015

 


 

Updated by Kazi

 


 

FNSINC602A Interpret and use financial statistics and tools

 


 

 


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About this Question

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DATE ANSWERED

Oct 15, 2019

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