Student Name Student Number
Unit Code/s & Name/s FNSINC602 Interpret and use financial statistics and tools
Assessment Type ? Case Study ? Assignment ? Project ? Other (specify)
Assessment Name Assessment 3
Assessment Due Date End of Week 11 Assessment Received Date
Student Declaration: I declare that this assessment is my own work. Any ideas and comments made by other people have been acknowledged as references. I understand that if this statement is found to be false, it will be regarded as misconduct and will be subject to disciplinary action as outlined in the TAFE Queensland Student Rules. I understand that by emailing or submitting this assessment electronically, I agree to this Declaration in lieu of a written signature.
Student Signature Date
? Student provided with feedback
Attempt 1 Satisfactory ?
Not Satisfactory ?
Date / /
Attempt 2 Satisfactory ?
Not Satisfactory ?
Date / /
Assessor Name Assessor Signature
Note to assessor: Please record any reasonable adjustment below that has occurred during this assessment e.g. written assessment given orally.
PRIVACY DISCLAIMER: TAFE Queensland is collecting your personal information for assessment purposes. The information will only be accessed by authorised employees of TAFE Queensland. Some of this information may be given to the Australian Standards Quality Authority (ASQA) or its successor and/or TAFE Queensland for audit and/or reporting purposes. Your information will not be given to any other person or agency unless you have given us written permission or we are required by law.
Instructions to Student
Students should complete a work health and safety check of their study/assessment environment prior to completing the assessment and any hazards addressed appropriately.
The assessment is to be completed using the spaces provided in this assessment paper.
All nine (9) parts of the case study must be answered satisfactorily.
Please use a font size of at least 11 points when completing the written portion of this assessment
Save your work regularly.
Use a logical file name, e.g. FNSINC602_Assess_2_Student_Name_Student_No.
Number of Attempts:
You will receive two (2) attempts for this assessment. Should your 1st attempt be not satisfactory, your teacher will discuss the relevant questions with you and will arrange a 2nd attempt to be scheduled. Should your 2nd attempt not be successful, or you fail to undertake the 2nd attempt, you will be deemed “not satisfactory” for this assessment item. Only one re-assessment attempt may be granted for each assessment item.
To achieve a satisfactory result, your assessor will be looking for your ability to demonstrate the following key skills/tasks/knowledge to industry standard:
• apply statistical methods to work in the financial services industry
• source and access statistical and other data, and produce and interpret statistics
• use financial data tools and calculations to produce accurate and informative statistical reports from data
• efficiently record and store data for retrieval.
Evidence Required to be Submitted and Method of Submission The completed assessment paper is to be submitted online as either a Word document or a PDF document. Refer to each question for additional requirements
Instructions to Assessor Work, Health and Safety: A work health and safety check of the assessment environment is to be conducted prior to the assessment and any hazards addressed appropriately.
Examination Range and Conditions: Access to the textbook, reference materials, the internet and any notes is allowed. It is not a timed assessment and does not have to be completed in one session, but must be submitted in one document by the due date.
Materials to be supplied: This assessment
Assessment Context and Description (if required) In this assessment, you will complete a comprehensive case study and a series of short answer (theory) questions to interpret and use financial statistics and tools.
Note to Student An Assessment Mapping Matrix is available from your teacher upon request. The mapping matrix shows how the knowledge and skills that you are being asked to demonstrate align to the requirements of each Unit of Competency.
The Bracken Ridge Real Estate
The firm of Bracken Ridge Real Estate is a prominent real estate based in Bracken Ridge, Brisbane.
The firm provides real estate advice, property sales for investors and households.
You are a member of the real estate team and specialised in giving advice to the potential buyers.
Mr Entrepreneur is the Managing Director of North Point Ltd. The management of the company is planning to expand into the real estate property market by purchasing units to rent out. Mr Entrepreneur wants to know whether it is a good time to buy property and future prospects of rental income for the business.
It is recommended that you do the practical components of the Case Study using an Excel spreadsheet and the theory component by using this Word document. Once you have completed the practical component you can either upload the practical component separately in Excel format, or copy and paste your worksheet to the Word document and upload the whole assessment in one file.
Your task in this case study is to estimate mean price of housing listed in the classified section of a local newspaper. Your task is to be done in three parts:
• Part A – sampling and reporting data
• Part B – analysing the data
• Part C – explaining the mathematical principles, statistical ratios and analysis tools you have used.
i. Select a sample size from (population) approximately 50 properties for sale from the classified section of a local or other newspaper using an appropriate sampling technique. Explain the sampling method you used and justify your selection, e.g. random selection.
ii. Prepare a spreadsheet and record the details of the properties you have selected, including the suburb and value. Arrange the values in an ordered array.
iii. Choosing an appropriate number of class intervals and class widths, include in your spreadsheet a grouped frequency distribution column. (You should have at least five properties in each class interval.) Plot the distribution in a histogram and analyse it in appropriate technical terms.
i. Describe the population in your survey.
ii. Calculate the median of the sample from the ordered array. (See question 5, as a sample, in the Assessment 1 of this unit)
iii. Calculate the sample mean and standard deviation from the frequency distribution. (See question 6, as a sample, in the Assessment 1 of this unit)
iv. Calculate the median of the sample from the frequency distribution. (See question 6, as a sample, in Chapter 3 of the text book)
v. Calculate the mode of the sample from the frequency distribution. (See question 6, as a sample, in Chapter 3 of the text book)
vi. Add a cumulative frequency column to your frequency distribution and draw a cumulative frequency histogram.
i. Explain briefly the principles of statistical standards and sampling techniques that are used to gather valid data.
ii. Briefly describe and provide examples of the mathematical principles, statistical ratios and analysis tools that are relevant to the financial services industry. As a minimum, you should describe the usage of those principles, ratios and tools you have used in your assessments.
This page has been left blank for your answers to the Case Study.