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MAII3007 Numeracy 2

tag 0 Download 9 Pages / 2,060 Words tag 05-06-2021

Question:

  1. Anna deposited £3800 in a bank paying 3% simple interest rate.

 Find out how much interest she will receive after 1 year and 3 months.

Amanda wants to invest £13,500. Two different institutions have offered her different investment propositions. Showing your calculations, decide which investment option is more beneficial for her.

Option 1

£13500 is deposited for 6 years in a bank paying 4% interest compounded annually.

Option 2

£13500 is deposited for 6 years in a bank paying 3.5% interest compounded semi - annually.

The scatter plot presents the correlation between monthly expenses spent on advertising a newly launched product and monthly profit from its sale. Knowing that the line of the best fit crosses points (4000, 13057) and (6000, 17057) calculate the expected profit when company invests 8000 for an advert.

Your calculation should including steps such as:

  1. a) Calculate slope (m)
  2. b) Calculate y – intercept (c)
  3. c) Create the linear equation for the line of the best fit (y = mx + c)
  4. d) Calculate the future profit

The histogram shows weekly customers’ orders in one of the online clothing shop.

a)How many orders were sold in total?

b)How you describe the shape of the histogram?

c)How many orders were sold below £70?

d)What percent of all sold items are in a range price between £90 – 150?

The owner of a bakery is considering an investment project to purchase new kitchen equipment.  The initial cost is £18,000. The annual cash inflows (income) are projected to be as follows:

  1. a) Work out the Net Present Value (NPV) of this investment.
  2. b) Should the bakery proceed with this project?

A box contains 2 red pens and 6 blue pens. One pen is taken at random and its colour noted before being replaced. A second pen is taken.

  1. a) Find the probability that both pens are red
  2. b) Find the probability that that first pen is green and the second one is red.

The probability that Julie picks a winning ticket in a lottery is 0.3.

How many losing tickets are in the lottery if there are 390 tickets in total?    

This reflective log should develop as the course proceeds and can be the last part to be completed. Reflect honestly on your experiences throughout the semester. For this reason, you can use the skills audits to summarise all topics covered during the ten weeks.  

In your reflection you must comment on the following points:

  • Which topics do you feel most confident about?
  • Are there areas for improvement?  
  • How would you evaluate your participation on the module?

a)Explain the difference between a bar chart and a histogram. Point at least two characteristics.       

b)Create one real – life example that involves simple or compound interest. Support your example with appropriate calculations.

TYPE YOUR ANSWER TO TASK 2 HERE] A) A Bar chart is an illustrative picture of data that are used to compare various types of data.  A characteristics of Bar chart includes discrete variables that presents categorical data. Bar charts do not touch each other and so has spaces between each bar. whereas the Histogram is the graphical representation that shows data in form of a bar to illustrate numerical data frequency and quantitative data.  The characteristics of Histogram and are connected to each other, so has no space and the delivery of non-discrete variables, and histograms are grouped together in elements which are said to be ranges.

This section covers the online quiz. You must complete and pass all 3 relevant quiz/activity; screenshot and save the result’s screen ready to be pasted on the portfolio. Ensure the followings are visible before the screenshot:

  • Your full names on the top right-hand corner of the screen
  • Your test result is any score from 40% to 100%
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