22803 Quantitative Skills in Accounting and Finance Research

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22803 Quantitative Skills in Accounting and Finance Research
GROUP ASSIGNMENT GUIDELINES

Students are to undertake the assignment in groups of no more than FIVE members and to present their findings in a report.

Report Format

Each group is required to prepare a report not to exceed 15 typed A4 pages with 1.5 line spacing, 12-point font size, including any tables and charts. The title page, executive summary, references, appendices, etc., are not included in the 15-page limit. Marks will be deducted for going over this limit.

The report should have a title page that includes a list of group members, their names and student IDs, the class they are enrolled in and the lecturer’s name. It is recommended that you provide a one-page executive summary in the front of the assignment report.

Submission

The group assignment is due on 17 May 2024 by 22:00 AEST. Each group is required to submit a soft copy of the completed assignment to turnitin. Late submission of written work will result in a deduction of 10% of the mark awarded for each day beyond the due date. No extension will be granted without penalty.
Marking

Evaluation of the written report is based on:


  • Quality of analysis and synthesis (65%)
  • Quality of organisation (15%)
  • Style (20%).


Refer to the Grading Criteria for Group Assignments below for details. Bonus points may be awarded for extremely innovative or original analysis and/or presentation of the written report.

Should there be any disagreement with respect to the contribution made by group members, please ensure that each group member complete the Peer Group Evaluation Form and email to the lecturer individually for the lecturer’s consideration.

UNIVERSITY OF TECHNOLOGY, SYDNEY
DEPARTMENT OF ACCOUNTING
Accounting Group Assignment
Peer Group Evaluation Form
(Please complete ONLY when you have any disagreement regarding the contribution made by group members)

With all group projects, it is possible that all group members might not share equally in the workload. In such a case, it would be unfair to assign the same grade to all members of the group. This evaluation form is your opportunity to inform me of any such situation in your group.

Your Name___________________________________________________________

Below, please list the other members of your group (excluding yourself). In the points allocated column, next to each group member, write the number of points out of a total of 100 points that you feel represents the relative effort of that group member in comparison to other members (excluding yourself). For example, if there were four other members of your group and you feel that all contributed equally, you would assign 25 points to each of the four members. Your total points must equal 100.

Group members names (not including yourself) 
 Points Allocated
__________________________________________
 ______________
__________________________________________
 ______________
__________________________________________
 ______________
__________________________________________
 ______________
__________________________________________
 ______________
__________________________________________
 ______________
Total points
 100

Please return this form to the instructor in a sealed envelope by the same date as the project is due for submission.

YOUR RATINGS ARE COMPLETELY CONFIDENTIAL

GRADING CRITERIA FOR GROUP ASSIGNMENTS

GRADE
 CONTENT
 ORGANISATION
 STYLE
HD
85-100

Synthesis
Critically and
comprehensively analyses
topics and data to address
the questions. Perceptive,
confident grasp of topic.

Confident and
accurate
presentation. No
organisational
errors.

Outstanding
vocabulary and
writing style.

D
75-84

Analysis
Critically analyses topics
and data to address the
questions. Outstanding
evaluation of topic with
ample evidence.

Engaging
introduction,
logically ordered
flow, and succinct,
applied conclusion.

Excellent
vocabulary and
writing style.
Mastery of
referencing.

C
65-74

Application
Understands what is seen
and read and applies to
topic. Careful presentation
of evidence.

Effective
introduction and
conclusion. Main
body clear and
logically developed.

Effective
expression and a
respectable
vocabulary. Good
use of references in
the correct style.

P
50-64

Comprehension
Demonstrates understanding
of what is seen and read but
does not apply to topic.
Evidence documented but
not well handled.

Introduction and
conclusion
adequate. Material
organised and main
points clear.

Sound vocabulary
and basic style.
May be minor
errors in
punctuation,
spelling, grammar,
etc., which do not
interfere with
meaning. Correct
referencing style.

FAIL
<50

Rote/Recall
Description of what is seen
and read without apparent
understanding

Introduction and
conclusion vague
and weak. Material
not organised and
main points unclear.
Basic presentation
requirements not
met.

Errors in expression
which interfere with
meaning. Absence
or incorrect use of
referencing.

22803 Quantitative Skills in Accounting and Finance Research
Group Assignment
Due on 17 May 2024 by 22:00 AEST

Assignment Question 1

UTZ Consulting Ltd. advises clients about sampling and statistical procedures that can be used to control manufacturing processes. In one case, a client gave UTZ Consulting a sample of 1000 observations taken during a time in which that client’s process was operating satisfactorily. The sample standard deviation for these data was .21; hence, with so much data, the population standard deviation was assumed to be .21. UTZ Consulting then suggested that random samples of size 30 be taken periodically to monitor the process on an ongoing basis. By analyzing the new samples, the client could quickly learn whether the process was operating satisfactorily. When the process was not operating satisfactorily, corrective action could be taken to eliminate the problem. The design specification indicated the mean for the process should be 12. The hypothesis test suggested by UTZ Consulting follows.

Corrective action will be taken any time H0 is rejected.

The samples on the following page were collected at hourly intervals during the first day of operation of the new statistical process control procedure. These data are available in the file named UTZ Consulting.

Required:
1. Compute the standard deviation for each of the five samples. Does the assumption of .21 for the population standard deviation appear reasonable?
2. Conduct a hypothesis test for each sample at the .01 level of significance and determine what action, if any, should be taken. Provide the test statistic and p-value for each test.
3. Compute limits for the sample mean around μ = 12 such that, as long as a new sample mean is within those limits, the process will be considered to be operating satisfactorily. If the sample mean exceeds the upper limit or if it is below the lower limit, corrective action will be taken. These limits are referred to as upper and lower control limits for quality control purposes.
4. Discuss the implications of changing the level of significance to a larger value. What mistake or error could increase if the level of significance is increased?

Assignment Question 2

Yolo Eat restaurant just completed its third year of operation. Since opening the restaurant, the manager, Miss Peters, has sought to establish a reputation for the restaurant as a high-quality dining establishment that specializes in fresh vegetarian cuisine. Through the efforts of the staff, the restaurant has become one of the best and fastest growing restaurants in the local area.

To better plan for future growth of the restaurant, Miss Peters needs to develop a system that will enable her to forecast food sales by month for up to one year in advance. The below figure shows the value of food sales ($000’s) for the first three years of operation.

Month
 Year 1
 Year 2
 Year 3
January
 215
 233
 240
February
 210
 219
 237
March
 207
 218
 226
April
 165
 185
 197
May
 159
 165
 173
June
 125
 140
 145
July
 110
 125
 134
August
 115
 134
 136
September
 96 103
 105
October
 115
 115
 133
November
 145
 160
 168
December
 191
 216
234


Required:

Perform an analysis of the sales data for Yolo Eat Restaurant. Prepare a report for the manager that summarizes your findings, forecasts, and recommendations. Include the following:
  1. A time series plot. Comment on the underlying pattern in the time series.
  2. An analysis of the seasonality of the data. Indicate the seasonal indexes for each month, and comment on the high and low seasonal sales months. Do the seasonal indexes make intuitive sense? Discuss why/why not.
  3. Deseasonalize the time series. Does there appear to be any trend in the deseasonalized time series? 
  4. Using the time series decomposition method, forecast sales for January through December of the fourth year.
  5. Provide summary tables of your calculations and any graphs in your report (or in the Appendix if you face any space constraint). Assume that January sales for the fourth year actually turn out to be $255,000. What was your forecast error? If this error is large, Miss Peters may be puzzled about the difference between your forecast and the actual sales value. What can you do to resolve her uncertainty in the forecasting procedure?

Assignment Question 3

The Ring Toss Association maintains data on performance for members of the Ring Toss Tournament. Scoring average is generally considered the most important statistic in terms of a player’s success. To investigate the relationship between scoring average and variables such as throwing distance, throwing accuracy, come backs, and average throws per round, year-end performance data for 100 players on the Tournament are contained in the separate data file. Each row of the data set corresponds to a player. Descriptions for the variables in the data set follow.

Scoring Average
The average score per completed round. A round is completed if the player tosses all of their rings or the player hits all targets.
TossDist (Throwing Distance)
The average distance between a player and a successful throw. Tournaments vary in terms of distance between players and various bottles that they must toss a ring to. The further the bottle from the player, the higher the points awarded. The club measures the distance between the player and bottles that are successfully ringed.
TossAcc (Throwing Accuracy)
The percentage of throws that are successful.
Rounds
The number of rounds played at the Association during the year.
TPR (Throws per Round)
 The average number of throws per round.

Required:

Suppose that you have been hired by the President of the Association to analyze the data for a presentation to be made at the annual general meeting. The President has asked whether it would be possible to use these data to determine the performance measures that are the best predictors of a player’s average score. Prepare a report that summarizes your analysis, including but not limited to key statistical results (e.g., descriptive statistics, correlation matrix, and regression analysis), conclusions, and recommendations. Assume the level of significance is .05. You report should discuss (but is not limited to) the following:
1. Present descriptive statistics and the sample correlation matrix and discuss your findings.
2. Which variable(s) is/are the best predictors of a player’s average score? Discuss with statistical evidence and the process by which you have come to this conclusion.
3. Referring to your result in 2 (above), does this suggest that other independent variables are useless in predicting a player’s average score? Discuss with statistical evidence.

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