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Home Blogs TSTA101 – QUANTITATIVE METHODS FOR ACCOUNTING AND FINANCE

by Lucy Martin

Updated April 15, 2022

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TSTA101 – QUANTITATIVE METHODS FOR ACCOUNTING AND FINANCE

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Subject Code

:

TSTA101

Subject Name

:

Quantitative Methods for Accounting & Finance

University Name

:

Top Education Institute, Australia

Quantitative Methods for Accounting & Finance

I

n today’s time, there is no doubt that the world is being obsessed with big data. Accounting and Finance professionals require

I

n today’s time, there is no doubt that the

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.

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.

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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:

3. 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.
4. 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:

5. 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).
6. 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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