Numeracy and Data Analysis Assignment: Part A Solution - Statistics

This document presents a comprehensive solution to a Numeracy and Data Analysis assignment, specifically focusing on Part A. The solution encompasses a wide array of mathematical problems, including calculations involving order of operations, fractions, and percentages. It also delves into data analysis, featuring the interpretation of sales data across multiple years, and the application of the Consumer Price Index (CPI). Furthermore, the assignment explores concepts of risk assessment in business, probability, and the use of probability models. The document provides detailed answers to each question, demonstrating the application of statistical and probabilistic methods to real-world business scenarios.

Numeracy and Data Analysis

Part A
Question 1
I.
a) 9 × 3 + 3 × (6- 2)
= 9 × 3 + 3 × 4
= 27 + 12
= 39
b) (600 ÷ 10) × (250÷125)
= 60 × 2
= 120
c) 3 × (96 ÷ 12 - 4) - (5 × 2)
= 3 × (8 – 4) – 10
= 3 × 4 – 10
= 12 – 10 = 2
d) 2 × [486 ÷ (2 × 34)]
= 2 × [486 ÷ (2 × 81)]
= 2 × [486 ÷ 162]
= 2 × 3 = 6

e) [102 ÷ (9 + 8)] ÷ 2 + 8 – 2 + [(42× 2) 2]
= [102 ÷ 17] ÷ 2 + 8 – 2 + [(32)2]
= 6 ÷ 2 + 8 – 2 + 64
= 3 + 8 – 2 + 64
= 75 – 2 = 73
II.
a) 66
b) 60
c) – 3
III.
a) 9/20
b) 19/30
c) 27/4
IV.
a) 37,122
b) 602,736
V.
a) A = £42,000; B = £12,000; C = £6,000; D = £30,000
b) X = £12,000; Z = £15,000 and amount of total investment = £48,000

VI.
Risk is characterized as the possibility or probability of a disagreement or a disturbing event.
In business, risk may suggest the expected loss of money, time or data. Above all, the risk can be
determined or measured. Businessmen can use advertising information to determine if something
else is worth showing. Accountants can use cash registers to measure the benefit of particular
sources. Assertive risk can be helpful, as bold people can produce critical results.
On the other, there is uncertainty. Interestingly, the vulnerability includes situations with unclear
factors, data and results. Vulnerability cannot be estimated.
Since crazy events are one of a kind and difficult to prepare, they accompany more exciting
prizes for poorly equipped groups. During the website period, organizations position themselves
heavily in expensive areas before realizing their value. By the time the air sac eventually
exploded, some organizations declined and a large number of delegates took off.
The importance of probability
Several organizations apply an understanding of the uncertainty and probability of business
choice practices. Probability models can help organizations develop their own procedures and
determine safe options. Despite its complexity, these probability strategies can expand business
benefits and performance.
The improvement of corporate profitability depends on how a company invests its activities. An
important piece that increases the risks of each type of initiative is one. The main way in which a
company can consider these risks when settling for business options is to use probability as an
approximate method. After analyzing the add-on's probabilities and the incidents associated with
all business options, a company can apply probability models to calculate the return or return on
profitability the best expected gain.

PART 2
Question 2
a)
Year
Annual sales
£0
2010 8.4 8.4/7.8 *100 107.6923
2011 8.5 8.5/7.8 * 100 108.9744
2012 7.8 7.8/7.8 * 100 100
2013 7.4 7.4/ 7.8 *100 94.87179
2014 8.1 8.1/ 7.8 *100 103.8462
b) 12.15
c) 11.49
d) CPI depicts how the changes in price levels affect heterogeneous customers. Also, it helps the
government in formulating fiscal policies, price policy, tax policy, etc.
Thus, it helps the government in calculating the risks taken for development without changing
the cost of living. Also, the state government uses CPI to decide the wage structure.
Additionally, this helps them to construct the dearness allowance of the workers.
Also, CPI is a measure of how accurate the power of a currency is. This is based on the fact that
any change in price triggers consumption. Furthermore, national income is also calculated using
the consumption expenditure.
This is on the fact one’s expenses is another person’s income. Thus, CPI acts as an income
deflator nationally.

Question 3
I.
a) 85/200
b) 65/200
c) 1 / 4 = .25
II.
Probability of atleast 1
= 1 – 0.4875 = 0.5125 or 51.25%