KOLEJ ISLAM SULTAN ALAM SHAH KLANG,SELANGOR

ADDITIONAL MATHEMATICS PROJECT WORK 2/2013

NAME:MUHAMMAD SYAFIEE BIN YAHAYA CLASS:507 (AR-RADZI) I/C NUMBER: 960524-01-5229 TEACHER:PN. NOORLIDA BINTI ZAINUL

PART 2 We often hear complaints from the public about inflation.It cause an increase in the household expenditure in a family. The household expenditure for every family is different.

a)My familys monthly expenditure for the year 2013. ITEM AVERAGE MONTHLY EXPENDITURE FOR THE YEAR 2013 (to the nearest RM) 300 400 150 50 150 50 200 200 100 1600 PERCENTAGE OF MONTHLY EXPENSES (to the nearest %) 19 25 9 3 9 3 13 13 6 100

Food Accomodation (rental / loan) Transportation (petrol/loan/bus fare etc) Clothing Education Recreation Utilities (water/electricity/telephone) Medication Miscellaneous TOTAL

Table 1

Title
Introduction Foreword (i) Price Index (ii) Weightage Part 1 (a) (iii) Composite Index

Page

(b) Weightage Representation (a) Familys Monthly Expenditure for year 2013 (b)(i)(ii) Calculating Price Indexes (c)(i)(ii) Composite Index for Average Monthly Expenditure for year 2013 Based on year 2012 (d) Conclusion (a) Survey on prices of Televisions (b) Television That I Want to Buy Part 3 (c) Fair Price Shop Award

Part 2

(a) Modified Monthly Expenditure to Buy New Television Part 4 (b) My Own Monthly Expenditure Planning Reflection

INTRODUCTION
As a student who takes Additional Mathematics in SPM, I am required to carry out a project work. This year the Curriculum Development Division, Ministry of Education has prepared two tasks for me. I need to choose one project based on my interest. This project can be done in groups or individually but the students are required to submit an individually written report. Upon completion of the Additional Mathematics Project Work, we are able to gain valuable experiences and able to: -Apply and adapt a variety of problem solving strategies to solve routine and non-routine problems; -Experience classroom environment which are challenging, interesting and meaningful and hence improve their thinking skills. -Experience classroom environments where knowledge and skills are applied in meaningful ways in solving real-life problems -Experience classroom environments where expressing ones mathematical thinking reasoning and communication are highly encouraged and expected -Experience classroom environment that stimulates and enhances effective learning. -Acquire effective mathematical communication through oral and writing; and to use the language of mathematics to express mathematical ideas correctly and precisely -Enhance acquisition of mathematical knowledge and skills through problem-solving in ways that increase interest and confidence -Prepare ourselves for the demand of our future undertakings and in workplace -Realise that mathematics is an important and powerful tool in solving real-life problemsand hence develop positive attitude towards mathematics. -Train ourselves not only to be independent learners but also to collaborate, tocooperate, and to share knowledge in an engaging and healthy environment -Use technology especially the ICT appropriately and effectively -Train ourselves to appreciate the intrinsic values of mathematics and to become morecreative and innovative -Realize the importance and the beauty of mathematics

FOREWORD
First of all, I would like to express my highest gratitude to Allah for giving me the strength and health to complete this Additional Mathematics Project Work for the year of 2013 successfully.Not to forget,a special thanks to my beloved parents for their non-stop support since I started this project till the end it was finished.They always encourage and advice me not to procrastinate on this work.

Next I would like to thank to my dedicated teacher, Pn Noorlida bt Zainul for her helpful guides.Without her guidance, I would not be able to complete this project.Plus,thanks to my fellow friends who did a great work in helping me to do this project work.

Lastly,I would like to say thank you to any individuals or party who has directly or indirectly involvedin completing this task.Your help is much appreciated

SELANGOR EDUCATION DEPARTMENT ADDITIONAL MATHEMATICS PROJECT WORK 2/2013

PART 1 (a)Describe in brief : (i)price index A price index (plural: price indices or price indexes) is a normalized average (typically a weighted averaged) of prices for a given class of goods or services in a given region, during a given interval of time. It is a statistic designed to help to compare how these prices, taken as a whole, differ between time periods or geographical locations. Price indexes have several potential uses. For particularly broad indices, the index can be said to measure the economy's price level or a cost of living. More narrow price indices can help producers with business plans and pricing. Sometimes, they can be useful in helping to guide investment.

(ii)weightage Weightage is common word used in Asia. The meaning for weightage is a weighting factor assigned to compensate for a perceived advantage or weight factor or ratio; weight. An example for its usage is: The admission holds 80% weightage while the interview holds 20% weightage of the admission process.In a nutshell, weightage can also be said as stake.

(iii)composite index Composite index is a grouping of equities, indexes and other factors combined in standardized way, providing a useful statistical measure of overall market or sector performance over time. A composite index may also be used in the natural or social sciences to summarize complex or multidimensional data or redundant measures.

(b)Ways of weightage representations.

Weightage in a set of data can be represented in certain ways.

1.Pie Chart

2.Bar chart

3.Percentage

4.Ratio

If we want to compare the cost of living from one year to another ,we have to calculate the price index that involves some of the items mentioned above. In order to calculate the price index of all the items above, we have to consider the average monthly expenses of any previous year as the base year. (b)(i) In this case, I am going to select 2012 as the base year.
By selecting year 2012 as the base year, we can see the increment of price index from year 2012 to 2013.

(ii)
ITEM AVERAGE MONTHLY EXPENSES FOR THE YEAR 2012 AS THE BASE YEAR (RM) 250 400 100 50 150 50 100 100 50 1250 AVERAGE MONTHLY EXPENSES FOR THE YEAR 2013 (RM) 300 400 150 50 150 50 200 200 100 1600

Food Accomodation (Rental/Loan) Transportation (Petrol/Loan/Bus fare etc) Clothing Education Recreation Utilities (Water/Electricity/Telephone) Medication Miscellaneous TOTAL

Table 2

(c)(i)

Item

Price Indices for the year 2013 Based on the Year 2012 120 100 150

Weightage

Food Accomodation (Rental/Loan) Transportation (Petrol/Loan/Bus Fare etc) Clothing Education Recreation Utilities (Water/Electricity/Telephone) Medication Miscellaneous TOTAL

9 8 11

100 100 100 200

8 8 8 16

200 200 1270

16 16 100

Table 3 (ii) The composite index for my familys average monthly expenditure in the year 2013 based on the selected base year is : composite index: 120(9)+100(8)+150(11)+100(8)+100(8)+100(8)+200(16)+200(16)+200(16)
100

=155.3 (d)CONCLUSION Based on my findings,the composite index for the average monthly expenditure in year 2013 based onyear 2012 increases.This shows that the price of goods has increased.Inflation occurs as price of goods increasebut the valu of money spent remain teh same. Here we can also conclude that my familys expenditure has increased.

PART 3 Your family is planning to buy a new television. (a) I have conducted a survey on the price of the television for two different brands from three different shops.I would like to make comparison between the two modes of payment,namely,cash payment and payment by installment Table 4(a) shows the prices of television by cash payment in three different shops whereas Table 4(b) shows the prices of televisions by installment.

Brand

Size of Televisions (inches) 24

Price (RM) Shop A 759 1349 2549 849 1499 2699 Shop B 699 1299 2249 749 1399 2449 Shop C 649 1199 2149 799 1299 2399

Mean Price (RM)

Standard Deviation (RM) 49.90 68.87 178.81 40.82 81.64 143.44

702 1282 2315 799 1399 2515

Sony

32 40 24

Samsung

32 40

Table 4(a)

Brand

Size of Televisions (inches) 24

Price (RM) Shop A 799 1399 2599 899 1539 2759 Shop B 739 1349 2299 779 1439 2529 Shop C 689 1229 2199 739 1339 2439

Mean Price (RM)

Standard Deviation (RM) 50.16 82.80 179.00 75.47 81.64 146.93

742 1325 2365 805 1439 2575

Sony

32 40 24

Samsung

32 40

Table 4(b)

(b)

Based on my findings from part (a) above, I have decided to buy television Sony from Shop C by using the cash payment method. From the data above, we can see that the price of the television that I have chosen which is RM1199 is below the mean price. This shows that the price is cheaper than the average price for that kind of television. This gives me advantage and chance to save some money. Apart from that, the price is affordable accordance to my family average household expenditure. Other than that, the standard deviation for that television brand, Sony 30 inches is RM68.87 which means the average data value is not extreme. A high standard deviation value means that the average data value is extreme which will result in insensibility for the consumers to buy. The television Sony 30 inches has reasonable price as the standard deviation is not too high.

(c)

Fair Price Shop Award The Ministry of Domestic Trade and Consumer Affairs wishes to present the Fair Price Shop Award for the shops above. I am one of the panels for this award. Based on my findings, the shop that deserves this award is Shop C. By considering the value of the mean and the value of standard deviation, here are my justifications. Shop C offers prices of television for both brands which are below the mean price which the average market price. This shows that Shop C is able to offer lower prices for the consumers compared to other shops. Hence, this will benefit the consumers especially for those who come from a low income family. The data of standard deviation for prices of television in Shop C is acceptable and sensible as the standard deviation values are not too high. This shows that the data does not have extreme values by both means of payment.

PART 4 (a) My family has a fixed monthly income.In order to buy the television, my family need to make some adjustment on the various types of expenditure.

Item

Average Monthly Expenditure for the Year 2013 (to the nearest RM) 250 300 100

Food Accomodation (Rental/Loan) Transportation (Petrol/Loan/Bus Fare etc) Clothing Education Recreation Utilities (Water/Electricity/Telephone) Medication Miscellaneous Savings TOTAL

50 100 50 100

100 50 500 1600

Revised Monthly Family Expenditure

(b) Assuming that I have just started working with a monthly salary of RM2500, I intend to save 10% of my salary every month.Besides, I also plan to contribute some of my salary to my parents every month.

Item

Average Monthly Expenditure for the Year 2013 (to the nearest RM) 400 500 200

Percentage of Monthly Expenses (to the nearest %)

Food Accomodation (Rental/Loan) Transportation (Petrol/Loan/Bus Fare etc) Clothing Education Recreation Utilities (Water/Electricity/Telephone) Medication Miscellaneous Savings Contributions to my Parents TOTAL

16 20 8

100 50 100 200

4 2 4 8

100 200 250 400 2500

4 8 10 16 100

My monthly expenditure budget

REFLECTION
From conducting the project, I have learnt so many things. I have learnt that money is very important in our daily life hence agreeing with the saying, money is not everything but everything is money. Apart from that, money is so vital for us to ensure the sustainability of our normal life because without money, many things that we want to do cannot be done. Some of the moral values that I practiced during this project are patience, creative and innovative. To conduct a survey on the prices of the television indeed spent a lot of time and energy. Without being patient, the survey might not have been conducted. Other than that, my creativity is developed as I need to do some calculations on the data and to represent it. Besides, I also gain the ability to innovate as I needed to do some modifications on the data in certain circumstances. Heres a picture which bear in my mind during the progress of this project: