Numeracy 2 (MAII3007) Coursework

Portfolio

Autumn 2018

Student Name

Student ID

Tutor

This is your Numeracy 2 e-portfolio which you must submit by Tuesday

18.12. 2018 via the Student Portal.

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 Please read carefully
This is your Numeracy 2 e-portfolio for the semester commencing October 2018 (Autumn
2018). Please save a copy on your computer and back it up regularly (e.g. by saving it on your
computer/ in the cloud (e.g. Google Drive) / emailing it to yourself). You should print a working
copy and bring it to all lectures and tutorials. However, at the end of the course, you will need
to submit a completed electronic copy.

Please read carefully the module handbook, the marking criteria and the grade descriptors.

Academic Misconduct

You are responsible for ensuring that you understand the policy and regulations about
academic misconduct. You must:

• Complete this work alone (except where required or allowed by this assignment briefing
paper) and ensure it has not been written or composed by or with the assistance of any
other person.
• Make sure all sentences or passages quoted from other peoples’ work in this assignment
(with or without trivial changes) are in quotation marks, and are specifically acknowledged
by reference to the author, work and page.

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 The portfolio’s structure
Section 1 - is worth 75% of the final mark and consists of 10 questions.
Section 2 - is worth 25 % of the final mark and consist of three tasks.

Portfolio Contents

Week / Content Section 1 Learning Outcome Page

Question
Section 1
1. Recap numeracy 1. 1,2
Introduction, powers and use of calculator
2. Powers, root, logarithms. Use of calculator 1 1,2 4
3. Simple & compound interest 2,3 1,2 5
4. Simple & compound interest 2,3 1,2 5
5. Linear relationships 4,5 1,2,3 6-7
6. Further linear relationships 4,5 1,2,3 6-7
7. Scatter plots and Histogram 6,7 1,2,3 8-9
8. Net present value. Exchange rates. 8 1,2 8-9
9. Probability. 9, 10 1,2 10
10. Revision and in-class task 1,2,3
Section 2
11. Reflective Log N/A 1,3 11
12. Real-Life Examples N/A 1,2,3 13
13. Online tasks N/A 1,2,3 13

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 Section 1
10 questions 75 marks

You are required to complete this section immediately after completing the class sessions
related to each question. Answer all questions and show your workings and/or explain your
results. Marks will be awarded for good presentation.

You must show your workings.

Week 1 and 2 – Powers and roots

QUESTION 1 [11 marks]

a) Put these in order starting with the smallest. (6 marks)

A. (2−2 )2

=2(-2*2)
=2-4
B. 43 × 4−4
43 × 4−4 =4(3-4)=4-1
C. 108 ÷ 109
108 ÷ 109 =10(8-9)=10-1
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b) Anna says that 3√8 is the same as √8. (3 marks)
Show that Anna is wrong.

3√8 =3(2.83)=8.49
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√8.=2

Hence, it is true that Anna is wrong

c) Write the number in standard form. (2 marks)

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 0.00000000375
=375/100000000000
=2.75*10−11

Week 3 and 4 – Simple and compound interest

QUESTION 2 [9 marks]

A. Anna deposited £3800 in a bank paying 3% simple interest rate. (3 marks)

Find out how much interest she will receive after 1 year and 3 months.
I=PRT
Where P=£3800, R=3%,T=1.25
I=3800*3/100*1.25
I=£142.5
B. Amanda wants to invest £13,500. Two different institutions have offered her different
investment propositions. Showing your calculations, decide which investment option is more
beneficial for her. (6 marks)
Option 1
£13500 is deposited for 6 years in a bank paying 4% interest compounded annually.
P=£13500, R=4%, n=6
A=P(1+r)n
A=13500(1+0.04)6
=£17081.81
c.i=£17081.81-£13500
=£3581.81
Option 2
£13500 is deposited for 6 years in a bank paying 3.5% interest compounded semi - annually.

P=13500
n=6*2=12
r=3.5/2=1.75%
A=P(1+r)n
=13500(1+0.0175)12
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=£16624.43
c.i=£16624.43-£13500

=£3124.43. it is evident that option 1 is bigger than option 2. Hence option 1 is a better
investment option compared to 2.
QUESTION 3 [6 marks]

A. Sara invests £6850 at a 4.5% interest rate annually. How long would it take for Sara
to reach the balance of £8920.48 with annually compounding interest? (3 marks)
p=£6850
r=4.5%
c.i=£8920.48
A=P(1+r)n
8920=6850(1+0.045)n
Divide both sides by 6850
1.3066=1.045n
n= 1.2916
=1.3 years

B. Matilda invests £8500 in a bank savings account and after 8 years her balance is
£13547.78.
Calculate the compound interest rate she received and round your answer to two
decimal places (2dp). (3 marks)

P=£8500
n=8
c.i=£13547.78
A=P(1+r)n
13547.78=8500(1+r)8
1.5939=(1+r)8
𝟖 𝟖
√1.5939= √1 + r)8
=1.06=1+r
1.0600-1=r
r=0.0600
r=6.00%

Week 5 and 6 – Linear equations

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QUESTION 4 [7 marks]

b) Calculate the intersect point for line y = 7x – 10 (4 marks)

Y X
-3 1
4 2
11 3
18 4
y = 5x + 2
Y X
2 0
7 1
12 2
17 3

b) Solve the inequality and choose a correct graphical representation for your result. (3 marks)

6t – 6 ≤ 8t – 12

3 -3 3

A. B. C.

-3 -3 3

D. E. F.

QUESTION 5 [5 marks]

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Draw a line representing the given linear inequalities y > 3x + 1 and shade the region that
satisfies this inequality.

x -2 0 1
y -5 1 4

TYPE YOUR ANSWER TO QUESTION 5 HERE]

Week 7 – Scatter plot and Histogram

QUESTION 6 [10 marks]

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The scatter plot presents the correlation between monthly expenses spent on advertising a
newly launched product and monthly profit from its sale. Knowing that the line of the best fit
crosses points (4000, 13057) and (6000, 17057) calculate the expected profit when company
invests £8000 for an advert.

20000
18000
16000
14000
12000
Expenses Profit
profit

10000 3000 11000

8000 3500 11600
6000 4000 12500
4000 4500 13800
2000 5000 14500
0 5500 16100
0 1000 2000 3000 4000 5000 6000 7000
6000 16950
expenses
6500 18000

Your calculation should including steps such as:

a) Calculate slope (m) (3 marks)

2.9605
b) Calculate y – intercept (c) (3 marks)
10,800
c) Create the linear equation for the line of the best fit (y = mx + c) (2 marks)
y=2.9605x+10800
d) Calculate the future profit (2 marks)

y=2.9605x+10800
when x=8000

y=2.9605(8000)+10800
=34484
QUESTION 7 [9 marks]
The histogram shows weekly customers’ orders in one of the online clothing shop.

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 Online order per purchase price
140
130
120
110
100
Number of orders

90
80
70
60
50
40
30
20
10
0
20 - 30 30 -50 50 - 70 70 - 90 90 - 110 110 - 130 130 - 150
Order price [£]

a) How many orders were sold in total? (2 mark)

=35+90+100+130+85+40+15
=495

b) How you describe the shape of the histogram? (2 mark)

The histogram is dome-shaped.

c) How many orders were sold below £70? (2 marks)

=35+90+100
=225
d) What percent of all sold items are in a range price between £90 – 150? (3 marks)

=85+40+15=140
140
*100=28.29%
495

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Week 8 – NPV

QUESTION 8 [ 7 marks]

The owner of a bakery is considering an investment project to purchase new kitchen

equipment. The initial cost is £18,000. The annual cash inflows (income) are projected to be as
follows:

Year 1 Year 2 Year 3 Year 4

£1200 £1500 £900 £600

After 4 years the equipment will be disposed off. The discount rate for this investment is 5%
p.a., compounded annually.

a) Work out the Net Present Value (NPV) of this investment. (5 marks)
NPV=F/{(1+i)^n)}
𝐹𝑉0 𝐹𝑉1 𝐹𝑉2 𝐹𝑉3 𝐹𝑉𝑛
NPV=(1+𝑖) + (1+𝑖)1 + (1+𝑟)2 (1+𝑟)3 + (1+𝑟)𝑛
−1200 1500 900 600
=(1+0.05) + (1+0.05)1 + (1+0.05)2 (1+𝑟)3
=$3,774.48
b) Should the bakery proceed with this project?
Explain your reasoning. (2 marks)
We should continue with the project because it has a positive NPV.

Week 9 – Probability

QUESTION 9 [7 marks]

A box contains 2 red pens and 6 blue pens. One pen is taken at random and its colour noted
before being replaced. A second pen is taken.

a) Find the probability that both pens are red (3 marks)

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Probability of drawing a red pen be R=8
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Probability of drawing a blue pen be B= 8

2 1 1
P(RR)=8 ∗ 7=28
b) Find the probability that that first pen is green and the second one is red. (4 marks)
6 2 3
P(BR)=8 ∗ 7=14

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QUESTION 10 [4 marks]

The probability that Julie picks a winning ticket in a lottery is 0.3.

How many losing tickets are in the lottery if there are 390 tickets in total?

P=0.3
P1=losing tickets (1-0.3)=0.7
=0.7*390
=273 tickets

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 Section 2
In – class activity 25 marks
TASK 1 – Reflective log [5 marks]

This reflective log should develop as the course proceeds and can be the last part to be
completed. Reflect honestly on your experiences throughout the semester. For this reason, you
can use the skills audits to summarise all topics covered during the ten weeks.

In your reflection you must comment on the following points:

 Which topics do you feel most confident about?

(e.g. powers and roots, interest rates, NPV etc.)

 Are there areas for improvement?

(e.g. in probability, I need do practice more or research etc.)?

 How would you evaluate your participation on the module

(e.g. contribution to classes, independent study etc.)?

TYPE YOUR ANSWER TO TASK 1 HERE]

Skills audit
I know how to…. I can do I need I’m not I can’t
well practice sure do

1. I understand what a power is  ☐ ☐ ☐

2. I can perform calculations and  ☐ ☐ ☐

simplifications using power
3. I understand what a root is  ☐ ☐ ☐

4. I can perform calculations and  ☐ ☐ ☐

simplifications using roots, using a scientific
or financial calculator if required
5. I understand the idea of simple interest  ☐ ☐ ☐

6. I can perform simple interest calculations  ☐ ☐ ☐

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7. I understand the idea of compound interest ☐  ☐ ☐

8. I can perform compound interest ☐  ☐ ☐

calculations using a calculator if required
9. I understand the Rule of 72 (or 69 or 70) ☐  ☐ ☐
and can apply it.
10. I understand the idea of a linear  ☐ ☐ ☐
relationship between two variables
11. I can manipulate a linear equation to  ☐ ☐ ☐
calculate a variable

12. I can construct a scatter plot from a set of  ☐ ☐ ☐

data (a linear relationship applies) and
apply a line of best fit.

13. I understand the y-intercept and slope  ☐ ☐ ☐

(gradient) of a graph and their relevance to
real situations (𝑦 = 𝑚𝑥 + 𝑐).

14. I can use the scatter plot produced in part  ☐ ☐ ☐

(12) to derive a linear relationship between
two variables (𝑦 = 𝑚𝑥 + 𝑐).
15. I can use the relationship from part (14) to ☐  ☐ ☐
extrapolate and interpolate

16. I understand the idea of the future value of  ☐ ☐ ☐

money

17. I understand the idea the net present value  ☐ ☐ ☐

(NPV) of a project

18. I can complete a net present value  ☐ ☐ ☐

calculation, using a calculator if required

19. I understand the idea of frequency  ☐ ☐ ☐

distribution

20. I can read and interpret a histogram ☐  ☐ ☐

21. I can construct a histogram from a set of  ☐ ☐ ☐

data

22. I understand simple probabilities  ☐ ☐ ☐

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 23. I can perform probability calculations, using  ☐ ☐ ☐
a calculator if required
24. I understand and can perform exchange ☐  ☐ ☐
rate calculations

TASK 2 [8 marks]

a) Explain the difference between a bar chart and a histogram. Point at least two
characteristics. (4 marks)
 In bar graphs every column represents a group described by a categorical variable while
in histograms, every column represents a group described by a continuous, quantitative
variable.
 in bar graphs the bars are often separated whereas in histograms the bars are adjacent
to one another.
b) Create one real – life example that involves simple or compound interest. Support your
example with appropriate calculations. (4 marks
On certificates of deposit for periods of one year or less: In case £150,000 in a one-year
certificate of deposit (CD) that pays interest at 3% per annum, I would earn £3,000 in interest
income (that is £150,000 x 3% x 1 year) after one year. In case the CD pays the equivalent
annual interest rate though is only for a six-month period, I would earn £2,250 in interest
income after six months.

TASK 3 [12 marks]

This section covers the online quiz. You must complete and pass all 3 relevant quiz/activity;
screenshot and save the result’s screen ready to be pasted on the portfolio. Ensure the
followings are visible before the screenshot:

 Your full names on the top right-hand corner of the screen

 Your test result is any score from 40% to 100%

TYPE YOUR ANSWER TO TASK 3 HERE]

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