TSTA602 Quantitative Methods for Accounting and Finance :
Due Date: Week 10, Monday 29th May at 5.00pm.
Course Weighting: 25% (This assignment is marked out of 100%)
- The objective of this TSTA602 Measurable Methods for Accounting and Finance project is to analyse the provided young employee’s information in Tasmania and to discuss issues related to relationships between employee’s wages and abilities, etc.
- You need to work in a group (no groups of more than THREE members will be permitted) to complete the TSTA602 Measurable Methods for Accounting and Finance assignment. You will need to complete the assignment group work sheet (available on Moodle) and attach to your assignment. For a group submission, each student in the group needs to write a brief statement of his/her contribution on the cover sheet. All students must sign this work sheet if you work in a group. It is NOT acceptable for one student to sign for all group members.
- An electronic copy of the assignment needs to be submitted to the Assignment Folder on Moodle on Monday 29th May at 5.00 pm.
- You will be required to use appropriate technique or method to evaluate or to present data. DO NOT use every technique you can think of as this only shows that you do not understand what is required. Use the most appropriate, although you should also remember that different techniques/tests/graphs may provide you with different types of information. Use your judgement carefully.
- Use Microsoft Excel to generate graphs and calculate numerical measures for describing random variables.
- Your explanations must be clear, concise and complete.
- Wherever calculation is required, please show your work in detail as partial marks are given to each step.
- Ensure that you analyse data thoroughly and present results carefully. Make sure that you interpret results in the context of the initial problem in order to show your understanding. You can also make recommendations about further research that should be conducted in order to provide a better answer.
- All tables and diagrams should be accurately labelled and referenced and referred to in the text.
- It is recommended that you type your assignment using a computer. A hand-written assignment can be accepted only if it is legible and easy to follow. However, all of tables/graphs/estimation results must be printed.
- All hypothesis tests must be performed at the 5% level of significance. Students are NOT allowed to directly use the test function in MS Excel to conduct hypothesis tests. All hypothesis tests must follow the structure below:
- State the null and alternative hypotheses.
- Show how to construct the test statistic and what the distribution is under the null hypothesis.
- Calculate the test statistic.
- State the significance level of the test.
- State the rejection rule.
- State the conclusion of test expressed in terms of the aim of the test.
- Please note that teaching staff may provide advice but are not responsible for resolving personal difficulties you may have when working with peers.
TSTA602 Measurable Methods for Accounting and Finance Assessment Criteria:
You should be aware that TSTA602 Quantitative Methods for Accounting and Finance assignments will be checked for plagiarism. Plagiarism is punishable by reduction or cancellation of marks, and in the most serious cases, exclusion from a unit, a course or the University. This warning applies to a case where a student submits somebody else’s work as their own, AND to a student who willingly allows another to copy and submit their work. I expect your plagiarism match with any source (internet or other groups) to be less than 15%. Plagiarism policy is described in the TSTA602 unit outline.
Submission and Request for extension.
- Submit your TSTA602 Measurable Methods for Accounting and Finance assignment including a cover sheet through TURNITIN found on Moodle under the ‘Major Assignment’ icon. The electronic copy must have signed cover sheet with name and student ID on the Cover Sheet. Please remember that you are responsible for lodging the assignment on or before the due date.
- If you have problems submitting your assignment, you MUST contact your lecturer immediately explaining the situation by email and attach your assignment in the email before the due time. In your email, you must clearly identify in the title of your email that you experiencing a problem in TSTA602 Quantitative Methods for Accounting and Finance. In the body of the email, explain the specific problem.
- The late assessment and Extension Policy applies. Please refer to this policy in the Unit Outline.
Methods for Accounting DATA DESCRIPTION
(A FICTITIOUS DATASET DESIGNED FOR THE ASSIGNMENT ONLY)
A consulting firm randomly selected 150 young employees in Tasmania. These selected employees answered questions and undertook a standard IQ test and a KW test. The KW test examines respondents’ knowledge about the duties in their workplaces and the knowledge about the Australian and Tasmanian labour markets. Respondents’ answers are entered a spreadsheet where each column represents a variable. These variables include:
- wage: monthly earnings in dollars
- hours: average weekly working hours
- IQ: IQ score
- KW: knowledge of work score
- educ: years of education
- exper: years of work experience
- tenure: years with the current employer
- age: age in years
- marriage: marriage status
- gender: female or male
- urban: =Y if lives in urban areas
=N if lives in rural areas
- sibs: the number of siblings
- brthord: birth order, e.g. =2 means he/she is the second child in the family.
- meduc: mother’s education
- feduc: father’s education
The missing values are shown by a “.” in the cells.
- As part of this TSTA602 Measurable Methods for Accounting and Finance assignment, you are required to review the raw data provided and ensure that all respondents have completed all the required information. Explain your strategy for handling any missing data, and make sure to indicate the total number of observations that you will use in your analysis. Also, provide an electronic copy of the final dataset in Excel format, which you will use in all subsequent analyses.
- Select two numerical and two categorical variables from your dataset, and provide a comprehensive description of each variable. Utilize appropriate tables, graphs, and numerical measures to illustrate the distribution of the variables.
- Identify a numerical variable within the dataset that you suspect may be correlated with IQ score, and provide justification for your selection. Utilize an appropriate graph and numerical measure to analyze the empirical relationship between the chosen numerical variable and IQ score. Repeat the same process to investigate the relationship between KW score and another numerical variable that you believe to be correlated with KW score.”
- You want to explore the relationship between gender and wages, but they are different types of variables. To work with both, you decide to create a categorical variable based on wage levels. Explain how you determined the threshold value for this variable and present it using an appropriate graph. Then, create a graph to show the relationship between gender and the new wage variable and discuss what it shows. Use a contingency table to calculate joint and marginal probabilities for the two variables, and determine the probability of being female or having a low wage level, as well as the conditional probability of being female given a low wage level. Finally, based on the sample information, determine whether the statement “Males tend to receive high wages than females” is true, false, or inconclusive, and provide an explanation for your answer.
- Assume that the average monthly wage for young employees in Tasmania in the year before the survey was conducted was $900.
- Perform a hypothesis test to determine if the average monthly wage of young employees in Tasmania during the year of the survey is the same as the population average wage of the previous year.
- Construct a confidence interval at the 95% level to estimate the population average wage, and interpret whether the population average wage in the year of the survey is equal to that of the previous year.
[5marks] [Total Marks 12]
- You have collected data on young employees in Tasmania and you want to determine which factor has the most impact on their wages. Conduct simple regression analysis to answer the following questions. For each regression, provide the Excel regression output and report the regression equation. Your grades for the following questions will be based on your regression results.
- Does the number of years of education have a significant impact on wages? Explain the choice of null and alternative hypotheses.
- Does IQ score have a significant impact on wages? Explain the choice of null and alternative hypotheses.
- Which independent variable is a stronger predictor of wages: years of education or IQ scores? Please provide an explanation.
- Do the number of years of work experience have a significant impact on wages? Explain your choice of null and alternative hypotheses.
- Is there a significant impact of KW scores on wages? Explain the selection of null and alternative hypotheses.
- Which variable, years of work experience or KW scores, is a better predictor of wages? Please explain your reasoning.
- Do your data support the claim often made by newspapers that there is a weak correlation between wages and education compared to wages and work experience? Please discuss.
[Total Marks 25]
The end of question
|Assessment Criteria and Performance Standards for Report|
|Unacceptable level of achievement – minimal or no evidence of understanding of theory||Acceptable level of achievement – some minimal evidence of understanding of theory||Acceptable level of achievement – meets minimal requirements||High level of achievement – displays the application of professional & industry standards||Exceptional – displays the application of professional and industry standards to a very high level|
|Report context and problem identification||/10||0 – 1||2||3||4||5|
|No real evidence of understanding the case study within the context of a body of knowledge or the principal issues requiring solutions||Some minimal evidence of understanding the case study within the context of a body of knowledge or the principal issues requiring solutions||Adequate evidence of understanding the case study within the context of a body of knowledge or the principal issues requiring solutions||High level of ability of understanding the within the context of a body of knowledge or the principal issues requiring solutions||Very high level of understanding the case study within the context of a body of knowledge or the principal issues requiring solutions|
|Depth of research||/20||0 – 1||2||3||4||5|
|No real evidence of research underpinning the case study||Some minimal evidence of research||Adequate evidence of appropriate research.||High level of research – goes beyond prescribed readings||Very high level of research – goes beyond prescribed readings and applied|
|Analysis & synthesis||/40||0 – 1||2||3||4||5|
|Very little or no evidence of understanding of the topic||Some understanding of the topic evident but with little evidence of analysis||Adequate evidence of ability to comprehend case study discussion and facts, leading to research.||Good understanding of the topic with evidence of deep analysis and synthesis of information||Very high level of understanding with insightful evaluative comments and conclusions|
|0 – 1||2||3||4||5|
TSTA602 Measurable Methods for Accounting and Finance
|Organisation of arguments and solutions||/20||No clear hierarchy of arguments or solutions provided||Some solutions backed by arguments presented but not particularly clear or relevant||Adequate solutions presented backed by well-presented arguments||Well-presented arguments and solutions– will lead to relevant resolutions||Exceptionally well- argued solutions– clear, concise and particularly insightful|
|Writing style & grammar or structural issues in written material||/10||0 – 1||2||3||4||5|
|Very poor||Low levels of||Average levels of||High level of||Very high level of|
|grammatical||writing ability||writing ability||writing ability –||writing ability with|
|expression and||evident, simple||with some||clear concise||no grammatical or|
|spelling errors||expression with||spelling and||expression with||spelling errors.|
|many spelling and||grammatical||few grammatical or|
|Total Marks and Feedback||/100||Detailed Comments (these might be directly written on the hard copy or electronic copy|
|Areas of improvement|