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Iqtt5111a1 FT
Iqtt5111a1 FT
22 2022
MODULE NAME: MODULE CODE:
INTRODUCTION TO QUANTITATIVE THINKING AND TECHNIQUES IQTT5111
INTRODUCTION TO QUANTITATIVE THINKING AND TECHNIQUES IQTT5111d
INTRODUCTION TO QUANTITATIVE THINKING AND TECHNIQUES IQTT5111p
ASSESSMENT TYPE: ASSIGNMENT 1 (PAPER ONLY)
TOTAL MARK ALLOCATION: 100 MARKS
TOTAL HOURS: 10 HOURS
By submitting this assignment, you acknowledge that you have read and understood all the rules
as per the terms in the registration contract, in particular the assignment and assessment rules in
The IIE Assessment Strategy and Policy (IIE009), the intellectual integrity and plagiarism rules in
the Intellectual Integrity Policy (IIE023), as well as any rules and regulations published in the
student portal.
INSTRUCTIONS:
1. No material may be copied from original sources, even if referenced correctly, unless it is a
direct quote indicated with quotation marks. No more than 10% of the assignment may
consist of direct quotes.
2. Make a copy of your assignment before handing it in.
3. Assignments must be typed unless otherwise specified.
4. All work must be adequately and correctly referenced.
5. Answer ALL questions.
6. Begin each section on a new page.
7. Use the Excel template provided for all the answers.
8. Follow all instructions on the assignment cover sheet.
9. This is an individual assignment.
© The Independent Institute of Education (Pty) Ltd 2022
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Question 1 (Marks: 15)
George is a new employee of the Durban branch of Print Pro. During the COVID pandemic, the
company printed very few invoices, sending most invoices to customers in digital format. For
stocktaking purposes, George has been given the task of determining the current value of the
various printer cartridges still held by the company. The various types of cartridge, and their price
at the time of purchase, is outlined in the figure below.
In the Excel answer book for Question 1, create the following:
Use Excel to answer the questions given below, placing functions/formulas in the indicated cells,
where appropriate.
Q.1.1 Determine the total value of each type of cartridge currently held in stock, by (8)
inserting an appropriate set of formulae into cells D2 – D9.
Q.1.2 Determine the overall total value of the various cartridges by inserting an (1)
appropriate formula in cell D10.
Q.1.3 George has been told that he should increase the overall total value of the cartridges (2)
by 10%, to reflect the effect of price inflation over the period of the pandemic.
Determine what this inflation adjustment amount will be by inserting an appropriate
formula into cell D12.
© The Independent Institute of Education (Pty) Ltd 2022
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Question 2 (Marks: 20)
The financial manager of Print Pro has been checking the current balances in the accounts of eight
of the company’s clients. The negative values show that these are amounts owed to Print Pro by
the clients.
In the Excel answer book for Question 2, create the following:
Use Excel to determine the answers to the following questions.
Q.2.1 Which client owes the highest amount on their account? Simply copy the name of (2)
the client into cell D10.
Q.2.2 Copy the highest amount owed into cell D11. (2)
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© The Independent Institute of Education (Pty) Ltd 2022
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Q.3.1 Determine the % marks that the students obtained for each of the modules, given
that:
Q.3.1.1 The total number of marks available for the Statistics module was 600. (4)
Determine this by entering an appropriate formula in cells C2 to C12.
Q.3.1.2 The total number of marks available for the Labour Law module was 240. (4)
Determine this by entering an appropriate formula in cells E2 to E12.
Q.3.1.3 The total number of marks available for the Research module was 300. (4)
Determine this by entering an appropriate formula in cells G2 to G12.
Q.3.2 Determine each individual student’s average % mark over the three modules, by (4)
entering an appropriate formula in cells H2 to H12.
Q.3.3 Determine the average % mark obtained by all students for the Statistics module. (1)
Use an appropriate formula in cell I14.
Q.3.4 Determine the average % mark obtained by all students for the Labour Law module. (1)
Use an appropriate formula in cell I15.
Q.3.5 Determine the average % mark obtained by all students for the Research module. (1)
Use an appropriate formula in cell I16.
Q.3.6 Determine the average overall % mark for all the modules, using an appropriate (1)
formula in cell I17.
© The Independent Institute of Education (Pty) Ltd 2022
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Question 4 (Marks: 15)
Beth, Heather, Claudia and Bianca have decided to start a new business. The four partners agree
that any profit or loss made by the new business will be shared in the same ratio as their
contributions to the start‐up capital of the business.
In the Excel answer book for Question 4, create the following:
Q.4.1 Express the respective contributions of the four partners as a ratio in cells B4 to E4, (4)
using an appropriate formula.
Q.4.2 Determine each partner’s share of the first year’s profit of R154 000 by entering a (4)
suitable function/formula in cells B6 to E6.
Q.4.3 Given that Heather’s share of the second year’s profit is R37 350, determine the total (4)
profit made by the business that year, by inserting an appropriate formula into cell
H8.
Q.4.4 Determine each of the other partner’s shares of the second year’s profit by inserting (3)
an appropriate formula into cells B8, D8 and E8.
© The Independent Institute of Education (Pty) Ltd 2022
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Question 5 (Marks: 15)
There are six shareholders in a business. The proportion of the total shares that are held by each of
the shareholders is indicated in the figure below.
In the Excel answer book for Question 5, create the following:
Q.5.1 Express each shareholder’s proportion of shares as a percentage in cells C2 to C7. (6)
You must calculate these values yourself, and then enter each result into the
relevant cell (use two decimal places).
[Note: You will see from this question why it is important to sometimes express
fractions as percentages – without making this change, you would not have been
able to easily determine in some instances which fraction is greater than or less than
the others.]
Q.5.2 Which of the shareholders owns the highest proportion of shares? Copy the relevant (1)
name into cell E8.
Q.5.3 Louisa and Lindiwe have both agreed upon a future strategy for the business. In (4)
order to compel the others to implement this strategy, they need to have a
combined shareholding of 51% or more. Do the two of them together have a large
enough shareholding to force the strategy upon the other shareholders?
Insert an appropriate formula into cell E9 in order to determine the size of their
combined shareholding.
© The Independent Institute of Education (Pty) Ltd 2022
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Q.6.1 Construct a bar chart to represent the results of the survey, using the original (5)
number of consumers for each service provider category. The bar chart must have
a relevant title, descriptive axis labels, and must indicate the frequency of each
category at the top of the relevant bar. Save the resultant chart in the worksheet.
Q.6.2 Change the original results into % values by inserting an appropriate formula into (5)
cells E2 to E6. Use the percentage values to construct a pie chart to represent the
results of the survey. The pie chart must have a relevant title, and the name of each
service provider, and its % popularity, must be indicated within the relevant
segment of the pie chart. Save the resultant chart in the worksheet.
[Important: Ensure that both of your charts are of a large enough size to fully communicate their
purpose to the viewer.]
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Question 7 (Marks: 5)
The following figure provides a grouped frequency distribution table, outlining the ages of a sample
of passengers on a flight from Cape Town to London.
In the Excel answer book for Question 7, create the following:
Construct a histogram to represent the information provided in the figure. The histogram must
have a relevant title, descriptive axis labels, and must indicate the frequency of each category at
the top of the relevant bar. Save the resultant chart in the worksheet.
[Important: Ensure that your chart is of a large enough size to fully communicate its purpose to the
viewer.]
[TOTAL MARKS: 100]
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