Statistics for Financial Decisions

STAT6003 Module 4 Assessment 1
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ASSESSMENT BRIEF
Subject Code and Title STAT 6003: Statistics for Financial Decisions
Assessment Module 4 – Assessment 1: Short written assessments
Individual/Group Individual
Length NA
Learning Outcomes 1. Analyse and present data graphically using
spreadsheet software (Excel).
2. Critically evaluate summary statistics against suitable
benchmarks.
3. Apply judgement to select appropriate methods of
data analysis drawing on knowledge of regression
analysis, probability, probability distributions and
sampling distributions.
4. Select and apply a range of data analysis tools to
inform problem solving and decision making.
5. Conduct quantitative research both individually and as
part of a team and articulate and present findings to a
wide range of stakeholders, from accounting and non
accounting backgrounds.
Submission By 11:55pm AEST/AEDT Sunday at the end of each
Module
Weighting 30% (Total of all written assessments throughout the
subject)
Total Marks 100 marks

Context:
The short written module assessments allows you to apply your knowledge on the concepts
and ideas discussed during the Module. These assessments will also prepare you for the
final report.
Instructions:
You are required to apply your knowledge and draw links between the scenario and the
learning resources. In your answers, reflect upon and analyse issues of the key discussion
points of the module. Your answers should also effectively communicate and demonstrate
that key concepts have been reviewed and that you can apply these concepts to the
problems posted.

STAT6003 Module 4 Assessment 1
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Assignment
The Board of Directors of Schmeckt Gut recently received the results of a customer
satisfaction survey conducted in the Federated Islands from the Schmeckt Gut Marketing
Department. The results of the survey are presented in Table 1; see excel file.
Based on these results, the Board of Directors raised concerns about the quality of our
Schmeckt Gut Energy Bars and instructed the Schmeckt Gut Research Department to
investigate this further.
Following these instructions, the Research Department of Schmeckt Gut Energy Bars
conducted two independent random tests at our production facilities in 5 districts in the
Federated Islands. The tests investigated the actual weight of the Energy Bars and recoded
the results which are presented in Table 2 of the excel file. Please note that the weight listed
on the Schmeckt Gut Energy Bars is listed as 47gramms and should not deviate from this too
much.
Your task:
The Board would like you to do a detailed analysis of these results (Tables 1 and 2) and to
provide a list of recommendations. In your analysis you are required to apply selected tools
and concepts of your own choosing that have been discussed in the subject so far. The
Board is looking forward to your report as the guide for decision making. Please keep in
mind that any changes to production processes or marketing involves costs to Schmeckt Gut
which means that your recommendations need to do both, clearly explain your rational
behind the recommendations while taking possible costs involved into account.

STAT6003 Module 4 Assessment 1 Page 3 of 7
Learning Rubrics

Assessment
Attributes
Fail (Unacceptable) (Functional) Pass (Proficient) Credit (Advanced) Distinction High Distinction (Exceptional)
Grade Description
(
Grading Scheme)
Evidence of unsatisfactory
achievement of one or more
of the learning objectives of
the course, insufficient
understanding of the course
content and/or unsatisfactory
level of skill development.
Evidence of satisfactory
achievement of course learning
objectives, the development of
relevant skills to a competent
level, and adequate
interpretation and critical
analysis skills.
Evidence of a good level of
understanding, knowledge
and skill development in
relation to the content of the
course or work of a superior
quality on the majority of the
learning objectives of the
course. Demonstration of a
high level of interpretation
and critical analysis skills.
Evidence of a high level of
achievement of the
learning objectives of the
course demonstrated in
such areas as
interpretation and critical
analysis, logical
argument, use of
methodology and
communication skills.
Evidence of an
exceptional level of
achievement of learning
objectives across the
entire content of the
course demonstrated in
such areas as
interpretation and
critical analysis, logical
argument, creativity,
originality, use of
methodology and
communication skills.
Content, Audience
and Purpose
Points for this criteria
Does not meet minimum
standard
Demonstrates no awareness
of context and/or purpose of
the assignment.
Meets minimum standard
Demonstrates limited
awareness of context and/or
purpose of the assignment
Moves beyond minimum
standard
Demonstrates consistent
awareness of context and/or
purpose of the assignment.
Exceeds minimum
standard
Demonstrates an
advanced and integrated
understanding of context
and/or purpose of the
assignment.
Exceeds minimum
standard and exhibits
high levels of
independence
Consistently
demonstrates a
systematic and critical
understanding of
context and purpose of
the assignment.
Knowledge and
understanding
Limited understanding of
required concepts and
knowledge
Knowledge or understanding of
the field or discipline.
Resembles a recall or summary
of key ideas.
Thorough knowledge or
understanding of the field or
discipline/s. Supports
personal opinion and
information substantiated by
Highly developed
understanding of the field
or discipline/s.
A sophisticated
understanding of the
field or discipline/s.

STAT6003 Module 4 Assessment 1 Page 4 of 7

Points for this criteria Key components of the
assignment are not
addressed.
Often conflates/confuses
assertion of personal opinion
with information substantiated
by evidence from the
research/course materials.
evidence from the
research/course materials.
Demonstrates a capacity to
explain and apply relevant
concepts.
Discriminates between
assertion of personal
opinion and information
substantiated by robust
evidence from the
research/course
materials and extended
reading.
Well demonstrated
capacity to explain and
apply relevant concepts.
Systematically and
critically discriminates
between assertion of
personal opinion and
information
substantiated by robust
evidence from the
research/course
materials and extended
reading.
Mastery of concepts
and application to new
situations/further
learning.
Critical reasoning,
presentation and
defence of an
argument and/or
position
Specific position (perspective
or argument) fails to take into
account the complexities of
the issue(s) or scope of the
assignment.
Makes assertions that are not
justified.
Specific position (perspective or
argument) begins to take into
account the issue(s) or scope of
the assignment.
Justifies any conclusions
reached with arguments not
merely assertion.
Specific position (perspective
or argument) takes into
account the complexities of
the issue(s) or scope of the
assignment. Others’ points of
view are acknowledged.
Justifies any conclusions
reached with well-formed
arguments not merely
assertion.
Specific position
(perspective or
argument) is expertly
presented and accurately
takes into account the
complexities of the
issue(s) and scope of the
assignment.
Justifies any conclusions
reached with well
developed arguments.
Specific position
(perspective or
argument) is presented
expertly, authoritatively
and imaginatively,
accurately taking into
account the
complexities of the
issue(s) and scope of
the assignment. Limits
of position are
acknowledged.
Justifies any conclusions
reached with
sophisticated
arguments.

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Analysis and
application with
synthesis of new
knowledge
Limited synthesis and
analysis.
Limited
application/recommendations
based upon analysis.
Demonstrated analysis and
synthesis of new knowledge
with application.
Shows the ability to interpret
relevant information and
literature.
Well-developed analysis and
synthesis with application of
recommendations linked to
analysis/synthesis.
Thoroughly developed
and creative analysis and
synthesis with application
of pretested models and /
or independently
developed models and
justified
recommendations linked
to analysis/synthesis
Highly sophisticated
and creative analysis,
synthesis of new with
existing knowledge.
Strong application by
way of pretested
models and / or
independently
developed models.
Recommendations are
clearly justified based
on the
analysis/synthesis.
Applying knowledge to
new situations/other
cases.
Ethico moral
reasoning
(recognises ethical
and moral issues
within a discipline
and is able to reason
based on these
principles)
Difficulty in formulating own
opinion and lack of
recognition of ethical
principles and competing
interests.
Does not clearly demonstrate
moral-ethical reasoning.
Difficulty in justifying
conclusions based on moral
ethical principles but recognises
different viewpoints.
Conclusions are justified
based on moral-ethical
principles.
Formulates and justifies
conclusions based on
moral-ethical principles.
Can recognise the
competing interests in
arguments and identify
ethical issues embodied
in them.
Uses ethical principles
to identify competing
interests and views.
Sophisticated
understanding of the
ethical and moral
positions.
Well-articulated
viewpoint based on
moral-ethical reasoning.

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Use of academic and
discipline
conventions and
sources of evidence
Poorly written with errors in
spelling, grammar.
Demonstrates inconsistent
use of good quality, credible
and relevant research sources
to support and develop ideas.
There are mistakes in using
the APA style.
Is written according to
academic genre (e.g. with
introduction, conclusion or
summary) and has accurate
spelling, grammar, sentence
and paragraph construction.
Demonstrates consistent use of
credible and relevant research
sources to support and develop
ideas, but these are not always
explicit or well developed.
There are no mistakes in using
the APA style.
Is well-written and adheres to
the academic genre (e.g. with
introduction, conclusion or
summary).
Demonstrates consistent use
of high quality, credible and
relevant research sources to
support and develop ideas.
There are no mistakes in using
the APA style.
Is very well-written and
adheres to the academic
genre.
Consistently
demonstrates expert use
of good quality, credible
and relevant research
sources to support and
develop appropriate
arguments and
statements. Shows
evidence of reading
beyond the key reading
There are no mistakes in
using the APA style.
Expertly written and
adheres to the
academic genre.
Demonstrates expert
use of high-quality,
credible and relevant
research sources to
support and develop
arguments and position
statements. Shows
extensive evidence of
reading beyond the key
reading
There are no mistakes
in using the APA Style.
Effective
communication
Difficult to understand for
audience, no logical/clear
structure, poor flow of ideas,
argument lacks supporting
evidence.
No effort is made to keep
audience engaged, audience
cannot follow the line of
reasoning.
Little use of presentation aids,
or the presentation aids and
material used are irrelevant.
Information, arguments and
evidence are presented in a
way that is not always clear and
logical.
Attempts are made to keep the
audience engaged, but not
always successful. Line of
reasoning is often difficult to
follow.
Presentation aids are used
more for effect than relevance.
Information, arguments and
evidence are well presented,
mostly clear flow of ideas and
arguments.
The audience is mostly
engaged, line of reasoning is
easy to follow.
Effective use of presentation
aids.
Information, arguments
and evidence are very
well presented, the
presentation is logical,
clear and well supported
by evidence.
Engages the audience,
demonstrates cultural
sensitivity.
Carefully and well
prepared presentations
aids are used.
Expertly presented; the
presentation is logical,
persuasive, and well
supported by evidence,
demonstrating a clear
flow of ideas and
arguments.
Engages and sustains
audience’s interest in
the topic, demonstrates
high levels of cultural
sensitivity

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Effective use of diverse
presentation aids,
including graphics and
multi-media.