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TSTA101 – QUANTITATIVE METHODS FOR ACCOUNTING AND FINANCE

Home / Quantitative Methods for Accounting and Finance

Subject Code – TSTA 101
Subject Name – Quantitative Methods for Accounting & Finance
University Name – Top Education Institute, Australia

TSTA101 – QUANTITATIVE METHODS FOR ACCOUNTING AND FINANCE

Quantitative Methods for Accounting & Finance
In today’s time, there is no doubt that the world is being obsessed with big data. Accounting and Finance professionals require in-depth knowledge of statistical tools and data analysis to help businesses uncover valuable insights within their financials, identify process improvements that help to increase efficiency, and are able to manage business risk effectively.

The subject TSTA 101 Quantitative methods for Accounting & Finance offered by Top Education Institute provides students with an in-depth understanding of statistical terminologies, descriptive statistics, statistical tools to analyze data, and Data Analysis using Excel.

Important statistics concepts to analyze data-
5 methods for performing statistical analysis are-
Mean
Median
Mode
Standard Deviation
Coefficient of variation
Pie Chart
Scatter Graph

Top Education Institute
Top Education Institute is a leading institute in Australia providing undergraduate and postgraduate courses in Business and Accounting. The institution has its campuses in Sydney and Hobart. When you study at Top Education Institute, you will be taught by industry professionals who will offer you a thorough grasp of your chosen subject. You’ll learn to think creatively and independently while developing excellent academic skills that can be applied to other areas.

For assignment help in Australia for any subject, you can hire our experts for quality assignments.


Assessment Details

Task:
An Australian manufacturing company is keen to develop new products and develop a new
product line of shoes so that the company can expand into Asian markets more than before.
The data have been collected for 99 products from the market. The data are in an excel file
named “SHOES”. The file includes:
PRICE: Price of the shoes in dollars.
GENDER: 1 for Female products and 2 for Male products.
COUNTRY: the country in which the shoes are produced: 1 made in Thailand, 2 made in
Singapore and 3 made in China.
COST: Production cost of the shoes in dollars.

QUESTIONS
Part 1:
1. Construct a pie chart for men’s and women’s shoes. Construct a pie chart for the three countries- Thailand, Singapore, and China. Present your findings.

2. Construct a cross-classification table of frequencies between gender and country. Plot a
vertical bar chart of frequency (Y variable) and gender (X variable), then group the bar charts
of genders for three countries and comment on the relationship between gender and country.

Part 2:
1. Calculate the Mean, Median, Mode, Standard Deviation, and Coefficient of Variation, for
prices for men’s and women’s shoes, separately. Compare the figures and explain what
conclusions you can draw from these analyses? Draw a box and Whisker plot for men’s and
female shoe prices and comment on the shape of the graph.
2. Calculate the Mean, Median, Mode, Standard Deviation, and Coefficient of Variation for
prices for the three countries – Thailand, Singapore, and China, separately.

Part 3:
Answer the following hypothesis questions:
3. Determine if average prices for female shoes are less than average prices for male shoes.
Compare the result with part 1 question 1. Does the result confirm your previous findings?
(Follow the hypothesis testing steps, 0.05 level of significance, assuming “equal variances”
of populations).
4. Using a scatter graph of price (Y variable on the vertical axis) and production cost (X variable, horizontal axis), comment on the relationship between price and cost.

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