Addmath Project 2013

7/30/2019 Addmath Project 2013

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Objectives

The aimsfor carrying out this project work are:

To improves thinking skills.

To promote effective mathematical communication.

To apply and adapt a variety of problem solving strategies to solve

problems.

To developed mathematical knowledge through knowledge solving in a way

that increases students interest and confidence.

To use the language of mathematics to express mathematical ideas precisely.

To provide learning environment that stimulates and enhances effective

learning.

To develop positive attitudes towards mathematics.


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Acknowledgement

First and foremost, I would like to thank my Additional Mathematic teacher,

Encik Anuar B. Mat Yusuf as he gives us important guidance and commitment

during this project work. She has been a very supportive figure throughout the

whole project.

I also would like to give thanks to all my friends for helping me and always

supporting me to help complete this project work. They have done a great job or at

surveying shops and sharing information with other people including me. Without

them this project would never have had its conclusion.

For their strong support, I would like to express my gratitude to my beloved

mother and also my father for supplying the equipment and money needed for the

resources to complete this project. They have always been by my side through

thick and thin, and helped me with this project against all odds.

Last but not least, I would also like to thank all the nice shopkeepers, staffs

and citizens for helping me collect the much needed data and prices for this. Not

forgetting to all the other people who were involved directly or indirectly towards

making this project a vivid reality.

I really appreciate all the help I have got. Again, thank you very much.


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Content

NO. CONTENT PAGE

1. Objectives2. Acknowledgement3. Introduction4. Part 1

Part 1(a)

Part 1(a)(i)Part 1(a)(ii)

Part 1(b)

5. Part 2Part 2(a)

Part 2(b)

Part 2(c)

Part 2(d)(i)

Part 2(d)(ii)

Part 2(d)(iii)

6. Part 3Part 3(a)

Part 3(b)(i)

Part 3(b)(ii)

7. Part 4Part 4(a)Part 4(b)

8. Reflection

9. References


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IntroductionMalaysia, the place called Truly Asia. It lies on the Southeastern Asian peninsula

bordering Indonesia, Brunei, and the South China Sea. Its filled with different Asiancultures from Malay, Chinese, Borneo and other indigenous groups. Having no or little

issues about societal upheavals, corruptions and such being published in international

media, Malaysia continues to be a puzzling country known for its present natural

splendor as it continues to flourish as one of Asias leading countries. However, knowing

its experiences that led to its present growth is whats really interesting about this

country.

After gaining independence from Britain in 1957, it was noted that the Chinese was the

chief force in Malaysias economy. In the 1960s, Malaysias economy was dependent on

exports of agricultural goods. During this period annual Gross Domestic Product

increases on an average rate of 6 percent per year. Then in the late 1960s racial pressure

started and caused the creation of the New Economic Policy which aimed to ensure that

by 1990s at least 20% of the economy must be controlled by ethnic Malays.

In the 1970s, high deflation and mismanagement of government enterprise caused its

economy to experience severe economic downturn. By 1985, recession having negative

1.2 percent GDP growth was experienced. As solution to the downfall of the economy,

the government shifted its focus from the agriculture sector to the manufacturing sector.

It liberalized foreign equity ownership from 10 to 20 percent in order to attract foreigninvestments. These efforts resulted to a success by achieving a positive GDP growth of

13.4 percent from 1986 to 1990.

Although the countrys internal economic factors continued to be strong, its external

economic factors affected it in a negative way. Huge capital outflows from the Malaysian

economy and other South East Asian economies were hurt by the Asian crisis. From

positive 7.7 percent Malaysias real growth rate in declined to negative 7.5 percent in

1998.

Despite its condition, Malaysia rejected IMF assistance and stabilized its money with thehelp of Bank Negara Malaysia, its Central Bank, through lowering exchange rates,

interest rates, and government spending. Also, the government increased capital controls

by halting, several mega projects and established the National Economic Action Council

(NEAC). With all these efforts, the country achieved a positive annual growth rate of 5.4

per cent in 1999.


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Malaysia's economy continued to surge despite all terrorist threats and health diseases

such as the SARS. The Package of New Strategies was established in 2003 to generalize

domestic sources of growth, promote private investment and strengthen the country's

competitiveness. In 2006, The Ninth Malaysia Plan was issued. This plan reiterates the

target of lifting Malaysias economy to "developed nation" by 2020. After knowing all

these facts, this paper will now discuss about the economic condition of Malaysia starting

from the year 2002 to 2006. It will tackle the GDPs contribution to growth and growth

by sector, lending and inflation rate, money supply, trade and economic indicators and

some movements of selected exports.

Malaysia could be an interesting topic for a lot of economic enthusiasts because of the

cycle that it has gone through. Malaysias economy has undergone many changes. It

started as a well-off economy until it experienced a lot of crises including the Asian

crisis. This country is among the lucky ones who have been able to get back on its feet

and improve its condition. The increased growth in the pattern of its GDP signifies thestrength of their economy. It shows how their national income increases as being affected

by the said factors. However, it should still continuously work on improving the

condition of its net exports and investments because increasing consumption now could

result to less consumable goods in the future. When it comes to the sectors, the

performance has been good.

The increased electronic productions, crop harvesting and service providing could boost

their economy further. In addition, employment is greatly increased by these factors.

Moreover, they have a fine control of their money supply. The positive increase in their

money supply enables the increased consumption and decreased interest rates but higherinflation. Their inflation is not worrisome being stable at a low inflation figure. With their

exchange rate, it has been a right move to shift to a managed rate instead of the pegged

rate since more investments and profits would be generated from this.Factors other than

the exchange rate have had more influence on imports and exports. Since their exports

are still more than their imports its positive contribution to the national income could still

be anticipated. Lastly, with regards to their government revenue and expenditure they

should find ways in generating more revenue but increasing the spending at the same

time because government spending is one of the main factors of national income.

With all of these, it could be deduced that Malaysia has a chance of achieving more

economic growth. However, the possibility of achieving the Ninth Malaysia Plan is still

unfeasible. Although their economy is rising they should still consider more expansionary

means of creating a long-run growth and produce realistic goals. This will enable them to

catch up and become one of the developed countries.


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Part 1(a): Describe in brief of

price index, weightage and

composite index


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Part 1(a)(i): Price IndexA price index (plural: price indices or price indexes) is a

normalized average (typically aweightedaverage) ofprices for a given classofgoods orservices 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.

Some notable price indices include:

Consumer price index Producer price index GDP deflator

History of early price indices

No clear consensus has emerged on who created the first price index. The earliest

reported research in this area came from Welshpoet Henry Rice Vaughan who examined

price level change in his 1675 bookA Discourse of Coin and Coinage. Vaughan wantedto separate the inflationary impact of the influx of precious metals brought by Spain from

the New World from the effect due to currency debasement. Vaughan compared labor

statutes from his own time to similar statutes dating back to Edward III. These statutes set

wages for certain tasks and provided a good record of the change in wage levels.

Vaughan reasoned that the market for basic labor did not fluctuate much with time and

that a basic laborers salary would probably buy the same amount of goods in different

time periods, so that a laborer's salary acted as a basket of goods. Vaughan's analysis

indicated that price levels in England had raised six to eightfold over the preceding

century.

While Vaughan can be considered a forerunner of price index research, his analysis did

not actually involve calculating an index. In 1707 Englishman William Fleetwood created

perhaps the first true price index. An Oxford student asked Fleetwood to help show how

prices had changed. The student stood to lose his fellowship since a fifteenth century

stipulation barred students with annual incomes over five pounds from receiving a

fellowship. Fleetwood, who already had an interest in price change, had collected a large

amount of price data going back hundreds of years. Fleetwood proposed an index
http://en.wikipedia.org/wiki/Averagehttp://en.wikipedia.org/wiki/Weighted_meanhttp://en.wikipedia.org/wiki/Weighted_meanhttp://en.wikipedia.org/wiki/Weighted_meanhttp://en.wikipedia.org/wiki/Pricehttp://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Statistichttp://en.wikipedia.org/wiki/Price_levelhttp://en.wikipedia.org/wiki/Cost_of_livinghttp://en.wikipedia.org/wiki/Consumer_price_indexhttp://en.wikipedia.org/wiki/Producer_price_indexhttp://en.wikipedia.org/wiki/GDP_deflatorhttp://en.wikipedia.org/wiki/Waleshttp://en.wikipedia.org/wiki/Henry_Vaughanhttp://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/vaughan/coinhttp://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/vaughan/coinhttp://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/vaughan/coinhttp://en.wikipedia.org/wiki/Spainhttp://en.wikipedia.org/wiki/New_Worldhttp://en.wikipedia.org/wiki/Debasementhttp://en.wikipedia.org/wiki/Statute_of_Labourers_of_1351http://en.wikipedia.org/wiki/Edward_IIIhttp://en.wikipedia.org/wiki/William_Fleetwoodhttp://en.wikipedia.org/wiki/William_Fleetwoodhttp://en.wikipedia.org/wiki/Edward_IIIhttp://en.wikipedia.org/wiki/Statute_of_Labourers_of_1351http://en.wikipedia.org/wiki/Debasementhttp://en.wikipedia.org/wiki/New_Worldhttp://en.wikipedia.org/wiki/Spainhttp://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/vaughan/coinhttp://en.wikipedia.org/wiki/Henry_Vaughanhttp://en.wikipedia.org/wiki/Waleshttp://en.wikipedia.org/wiki/GDP_deflatorhttp://en.wikipedia.org/wiki/Producer_price_indexhttp://en.wikipedia.org/wiki/Consumer_price_indexhttp://en.wikipedia.org/wiki/Cost_of_livinghttp://en.wikipedia.org/wiki/Price_levelhttp://en.wikipedia.org/wiki/Statistichttp://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Pricehttp://en.wikipedia.org/wiki/Weighted_meanhttp://en.wikipedia.org/wiki/Average


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consisting of averaged price relatives and used his methods to show that the value of five

pounds had changed greatly over the course of 260 years. He argued on behalf of the

Oxford students and published his findings anonymously in a volume entitled Chronicon

Preciosum.

Formal calculationFurther information: List of price index formulas

Given a set of goods and services, the total market value of transactions in in some

period would be

Where,

represents the prevailing price of in period

represents the quantity of sold in period

If, across two periods and , the same quantities of each good or service were sold,

but under different prices, then

and

would be a reasonable measure of the price of the set in one period relative to that in the

other, and would provide an index measuring relative prices overall, weighted by

quantities sold.

Of course, for any practical purpose, quantities purchased are rarely if ever identical

across any two periods. As such, this is not a very practical index formula.

One might be tempted to modify the formula slightly to

This new index, however, doesn't do anything to distinguish growth or reduction in

quantities sold from price changes. To see that this is so, consider what happens if all the

prices double between and while quantities stay the same: will double. Now

consider what happens if all the quantities double between and while all

theprices stay the same: will double. In either case the change in is identical. As

such, is as much a quantity index as it is aprice index.

Various indices have been constructed in an attempt to compensate for this difficulty.
http://en.wikipedia.org/wiki/List_of_price_index_formulashttp://en.wikipedia.org/wiki/Measurementhttp://en.wikipedia.org/wiki/Measurementhttp://en.wikipedia.org/wiki/List_of_price_index_formulas


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Paasche and Laspeyres price indices

The two most basic formulae used to calculate price indices are the Paasche index (after

the economist Hermann Paasche[pa]) and the Laspeyres index (after the

economist Etienne Laspeyres[laspejres]).

The Paasche index is computed as

while the Laspeyres index is computed as

where is the relative index of the price levels in two periods, is the base period

(usually the first year), and the period for which the index is computed.

Note that the only difference in the formulas is that the former uses period n quantities,whereas the latter uses base period (period 0) quantities.

When applied to bundles of individual consumers, a Laspeyres index of 1 would state

that an agent in the current period can afford to buy the same bundle as she consumed in

the previous period, given that income has not changed; a Paasche index of 1 would state

that an agent could have consumed the same bundle in the base period as she is

consuming in the current period, given that income has not changed.

Hence, one may think of the Paasche index as one where the numeraire is the bundle of

goods using current year prices but base year quantities. Similarly, the Laspeyres index

can be thought of as a price index taking the bundle of goods using current prices and

current quantities as the numeraire.

The Laspeyres index tends to overstate inflation (in a cost of living framework), while the

Paasche index tends to understate it, because the indices do not account for the fact that

consumers typically react to price changes by changing the quantities that they buy. For

example, if prices go up for good then,ceteris paribus, quantities of that good should

go down.

Fisher index and MarshallEdgeworth index

A third index, theMarshallEdgeworth index(named for economists Alfred

Marshall and Francis Ysidro Edgeworth), tries to overcome these problems of under- and

overstatement by using the arithmetic means of the quantities:

A fourth, the Fisher index (after the American economist Irving Fisher), is calculated as

the geometric mean of and :
http://en.wikipedia.org/wiki/Hermann_Paaschehttp://en.wikipedia.org/wiki/Help:IPA_for_Germanhttp://en.wikipedia.org/wiki/Help:IPA_for_Germanhttp://en.wikipedia.org/wiki/Help:IPA_for_Germanhttp://en.wikipedia.org/wiki/Etienne_Laspeyreshttp://en.wikipedia.org/wiki/Help:IPA_for_Germanhttp://en.wikipedia.org/wiki/Help:IPA_for_Germanhttp://en.wikipedia.org/wiki/Help:IPA_for_Germanhttp://en.wikipedia.org/wiki/Numerairehttp://en.wikipedia.org/wiki/Ceteris_paribushttp://en.wikipedia.org/wiki/Ceteris_paribushttp://en.wikipedia.org/wiki/Ceteris_paribushttp://en.wikipedia.org/wiki/Marshall%E2%80%93Edgeworth_indexhttp://en.wikipedia.org/wiki/Marshall%E2%80%93Edgeworth_indexhttp://en.wikipedia.org/wiki/Marshall%E2%80%93Edgeworth_indexhttp://en.wikipedia.org/wiki/Marshall%E2%80%93Edgeworth_indexhttp://en.wikipedia.org/wiki/Marshall%E2%80%93Edgeworth_indexhttp://en.wikipedia.org/wiki/Alfred_Marshallhttp://en.wikipedia.org/wiki/Alfred_Marshallhttp://en.wikipedia.org/wiki/Francis_Ysidro_Edgeworthhttp://en.wikipedia.org/wiki/Irving_Fisherhttp://en.wikipedia.org/wiki/Geometric_meanhttp://en.wikipedia.org/wiki/Geometric_meanhttp://en.wikipedia.org/wiki/Irving_Fisherhttp://en.wikipedia.org/wiki/Francis_Ysidro_Edgeworthhttp://en.wikipedia.org/wiki/Alfred_Marshallhttp://en.wikipedia.org/wiki/Alfred_Marshallhttp://en.wikipedia.org/wiki/Marshall%E2%80%93Edgeworth_indexhttp://en.wikipedia.org/wiki/Ceteris_paribushttp://en.wikipedia.org/wiki/Numerairehttp://en.wikipedia.org/wiki/Help:IPA_for_Germanhttp://en.wikipedia.org/wiki/Etienne_Laspeyreshttp://en.wikipedia.org/wiki/Help:IPA_for_Germanhttp://en.wikipedia.org/wiki/Hermann_Paasche


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Fisher's index is also known as the ideal price index.

However, there is no guarantee with either the MarshallEdgeworth index or the Fisher

index that the overstatement and understatement will exactly cancel the other.

While these indices were introduced to provide overall measurement of relative prices,there is ultimately no way of measuring the imperfections of any of these indices

(Paasche, Laspeyres, Fisher, or MarshallEdgeworth) against reality.

Relative ease of calculating the Laspeyres index

As can be seen from the definitions above, if one already has price and quantity data (or,

alternatively, price and expenditure data) for the base period, then calculating the

Laspeyres index for a new period requires only new price data. In contrast, calculating

many other indices (e.g., the Paasche index) for a new period requires both new price

data and new quantity data (or, alternatively, both new price data and new expenditure

data) for each new period. Collecting only new price data is often easier than collecting

both new price data and new quantity data, so calculating the Laspeyres index for a new

period tends to require less time and effort than calculating these other indices for a new

period.

Calculating indices from expenditure data

Sometimes, especially for aggregate data, expenditure data is more readily available than

quantity data. For these cases, we can formulate the indices in terms of relative prices and

base year expenditures, rather than quantities.

Here is a reformulation for the Laspeyres index:

Let be the total expenditure on good c in the base period, then (by definition) we

have and therefore also . We can substitute these

values into our Laspeyres formula as follows:

A similar transformation can be made for any index.

Quality change

Price indices often capture changes in price and quantities for goods and services, but

they often fail to account for variation in the quality of goods and services. Statistical

agencies generally usematched-modelprice indices, where one model of a particular good

is priced at the same store at regular time intervals. The matched-model method becomes
http://en.wikipedia.org/wiki/Measurementhttp://en.wikipedia.org/wiki/Measurement


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problematic when statistical agencies try to use this method on goods and services with

rapid turnover in quality features. For instance, computers rapidly improve and a specific

model may quickly become obsolete. Statisticians constructing matched-model price

indices must decide how to compare the price of the obsolete item originally used in the

index with the new and improved item that replaces it. Statistical agencies use several

different methods to make such price comparisons.

The problem discussed above can be represented as attempting to bridge the gap between

the price for the old item at time t, , with the price of the new item at the later

time period, .

The overlap methoduses prices collected for both items in both time periods, t and t+1.The price relative / is used.

The direct comparison methodassumes that the difference in the price of the two items isnot due to quality change, so the entire price difference is used in the index. /

is used as the price relative.

The link-to-show-no-change assumes the opposite of the direct comparison method; itassumes that the entire difference between the two items is due to the change in quality.

The price relative based on link-to-show-no-change is 1.

The deletion methodsimply leaves the price relative for the changing item out of theprice index. This is equivalent to using the average of other price relatives in the index as

the price relative for the changing item. Similarly, class mean imputation uses the

average price relative for items with similar characteristics (physical, geographic,

economic, etc.) to M and N


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Part 1(a)(ii): WeightageAccording to dictionary.com: weightage is a weighting factor assigned to compensate for a

perceived disadvantage or simply "A 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".

It seems to be a word commonly used in Asia.


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Part 1(a)(iii): Composite Index

Definition of 'Composite Index'

A grouping of equities, indexes or other factors combined in a standardized way, providing a

useful statistical measure of overall market or sector performance over time.

Also known simply as a composite.

Usually, a composite index has a large number of factors which are averaged together to form a

product representative of an overall market or sector. For example, the Nasdaq Composite index

is a market capitalization-weighted grouping of approximately 5,000 stocks listed on the Nasdaq

market. These indexes are useful tools for measuring and tracking price level changes to anentire stock market or sector. Therefore, they provide a useful benchmark against which to

measure an investor's portfolio. The goal of a well-diversified portfolio is usually to outperform

the main composite indexes.

A composite or a composite index is combination of equities or indexes intended to measure the

overall market 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. An example of a composite index in the social

sciences is used in the European Lifelong Learning Indicators (ELLI) project.


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Part 1(b): Weightage RepresentationsFour examples of weightage representation:-

TABLE

Item

Average Monthly

Expenditure for the year

2013 (to the nearest RM)

Percentage of monthly

expenses (to the nearest %)

Food RM800 16%

Accommodation

(Rental/Loan)

RM1200 24%

Transportation

(Petrol/Loan/Bus fare etc.)

RM400 8%

Clothing RM300 6%

Education RM730 15%

Recreation RM300 6%

Utilities

(Water/Electricity/Telephone)

RM670 13%

Medication RM200 4%

Miscellaneous RM400 8%

TOTAL RM5000 100%

column CHART

0

5

10

15

20

25

30

Percentage of 2013 Monthly Expenses

Percentage of 2013 MonthlyExpenses


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LINE GRAPH

PIE CHART

0

5

10

15

20

25

30

Percentage of 2013 Monthly Expenses

Percentage of 2013 Monthly

Expenses

Percentage of 2013 Montly Expenses

Food

Accomodation

Transportation

Clothing

Education

Recreation

Utilities

Medication

Miscellaneous


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Part 2(a): Table for my familysExpenditure for the year 2013.

Item

Average Monthly





Food RM800 16%

Accommodation

(Rental/Loan)

RM1200 24%

Transportation


RM400 8%

Clothing RM300 6%

Education RM730 15%

Recreation RM300 6%

Utilities


RM670 13%

Medication RM200 4%


TOTAL RM5000 100%


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Part 2(b)(i) and Part 2(b)(ii):

Item

Average Monthly Expenses

for the year 2010 as the baseyear (RM)

Average Monthly Expenses

for the year 2013 (RM)

Food RM400 RM800

Accommodation

(Rental/Loan)

RM1200 RM1200

Transportation


RM200 RM400

Clothing RM150 RM300

Education RM535 RM730

Recreation RM200 RM300

Utilities(Water/Electricity/Telephone) RM465 RM670

Medication RM150 RM200

Miscellaneous RM200 RM400

TOTAL RM3500 RM5000


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Part 2(c)(i):

Item

Price indices for the year

2013 based on the year 2010

Weightage

Food 200 16%

Accommodation

(Rental/Loan)

100 24%

Transportation


200 8%

Clothing 200 6%

Education 136.45 15%

Recreation 150 6%

Utilities(Water/Electricity/Telephone) 144.09 13%

Medication 133.33 4%

Miscellaneous 200 8%

TOTAL 1463.87 100%


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Part 2(c)(ii): Calculation of compositeindex for the average monthly expenditure in

the year 2013 based on the year 2010

Composite Index,

=

16(200)+24(100)+8(200)+6(200)+15(136.45)+6(150)+13(144.09)+4(133.33)+8(200)

100

=

15353.24 = 153.53 = 154

100


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Part 2(d): Conclusion about my familysexpenditure.

Based on my findings, my familys average monthly expenditure increases in the year

2013 based on the year 2013. This is because cost of living increases due to the escalating prices

of all items except for accommodation during the course from the year 2010 to 2013. The

increase of items is probably caused by inflation which increases the price of household items

and other items such as food products, clothing, recreational activities, utilities, education,

medication and also miscellaneous conduct.

The composite index for the average of my familys expenditure from the year 2013

based on the year 2010 is 154. This means my familys average expenditure increases 54% from

the year 2010 to the year 2013. However, my family can continue to sustain a comfortable andsuitable lifestyle if my familys income also increases by 54%. This should be done so that my

family can pay the escalating prices of certain household items without any hassle.


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Part 3(a): Table 4(a) ~payment by cash~

Brand

Size

of television

(inches)

Price (RM)

SHOP A SHOP B SHOP C

Mean

Price

(RM)

Standard

Deviation

(RM)

24 649 647 825 707 83.44

SAMSUNG 32 1190 1099 1349 1212.67 103.27

40 2190 2170 2449 2269.67 127.01

24 650 620 699 656.33 32.63

SHARP 32 799 788 888 825 44.77

40 1290 1199 1399 1296 81.76

MEAN

PRICE OF

EACH

SHOP

- 1128 1087.17 1268.17 - -


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Part 3(a): Table 4(b) ~payment by 6 month installment~

Brand

Size

of television

(inches)

Price (RM)

SHOP A SHOP B SHOP C

Mean

Price

(RM)

Standard

Deviation

(RM)

24 108.17 107.83 137.50 117.83 13.94

SAMSUNG 32 198.33 183.17 224.83 202.11 17.22

40 365 361.67 408.17 378.28 21.18

24 108.33 103.33 116.50 109.39 5.36

SHARP 32 133.17 131.33 148 137.50 7.46

40 215 199.83 233.17 216 13.63

MEAN

PRICE OF

EACH

SHOP

- 188 181.19 211.36 - -


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Part 3(b):

The brand and size of the television my family decided to buy is a Sharp 40 inch

television at shop B. The reason why my family chooses to buy this television is because of its

size of 40 inches, the largest size of television, which suits my familys living area. Besides that,the brand of television, Sharp; also offers a cheaper price rather than the Samsung 40 inch

television. The price this size and brand of television offers is RM1199 by cash and RM199.83

by installment of 6 months which is suitable and also within the range ofmy familys budget.


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Part 3(c):

If I was one of the panels for the Ministry of Domestic Trade and Consumer

Affairs, I would present the Fair Price Shop Award to Shop B. This is because Shop B offers the

cheapest price when selling the televisions rather than Shop A and Shop C which consumers cansave money when buying any brand and of television of their choosing. In addition, I do not

consider the value of the standard deviation in making the decision in choosing the shop for this

award because it has nothing to do in finding the shop with the lowest average price for each

shop. On the other hand, I do consider the mean price of each shop or the average price for each

shop in making my decision because by taking the mean price for each shop into consideration I

can find the lowest average or mean price in each shop to see which shop deserves this award.

On the contrary, I do not consider the mean price of each size of television because it is not

relevant in finding and determining the shop with the lowest average price for each shop. In a

nutshell, with all my justifications, I am confident that the fair price award should be given to

shop B.


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Part 4(a): ~pay by 6 month installment~

Item

Average Monthly





Food RM800 16%

Accommodation

(Rental/Loan)

RM1200 24%

Transportation


RM400 8%

Clothing RM200 4%

Education RM730 15%

Recreation RM200 4%

Utilities


RM670 13%

Medication RM200 4%


Savings for new television RM200 4%

TOTAL RM5000 100%


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Part 4(b):

Item

Average Monthly





Food RM600 24%

Accommodation

(Rental/Loan)

RM250 10%

Transportation


RM400 16%

Clothing RM150 6%

Recreation RM200 8%

Utilities


RM150 6%

MedicationRM100 4%


Savings RM250 10%

Contributions to parents RM200 8%

TOTAL RM2500 100%


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REFLECTION

Throughout conducting this project, there was a lot of information that I had

found. I also learnt some moral values which I will practice in the future. Firstly,

we need to spend our income according to our abilities. Besides that, we need to

buy only necessary things and spend less on our wants. In addition, we should set

aside money from our income into our savings in order to buy things that we want

and for future emergencies.

This project has taught me to be more responsible on the works that were

given to me, so that I can complete it with flying colours. This project also made

me confident to do the works given to me and to not give up so easily when I could

not find the solution for the question. I also learnt to be more discipline especiallyin managing my time, which I was given about three weeks to complete this

project and to pass up to my teacher according to the duration given. I also enjoyed

doing this project during my school holiday as I spent my time with friends to

complete this project which had tightened our friendship.


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SAVING MONEY (poem)

Lets save money,

My friends and family,

Lets save money,We will be happy.

Our future relies on money,

Buy things that are necessary,

Dont waste it away,

So, that we can use it someday.

Lets spend money,Think before spending,

So our lives will be lively,

Because seeing is believing.

Lets use our money,

To help people in need,

Lets give in honestly and sincerely,

Thus, we will be blessed indeed.


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REFERENCES

1.http://en.wikipedia.org/wiki/Weight_(representation_theory)2.http://www.qfinance.com/dictionary/composite-index3.http://www.thefreedictionary.com/Composite+Index4.http://www.answers.com/topic/composite-index5.http://en.wikipedia.org/wiki/Composite_(finance)6.http://www.investopedia.com/terms/c/compositeindex.asp7.http://dictionary.reference.com/browse/weightage8.http://www.wordwebonline.com/en/WEIGHTAGE)9.http://www.collinsdictionary.com/dictionary/english/weightage10. http://en.wikipedia.org/wiki/Price_index11. http://www.ukessays.com/essays/economics/malaysia-

economy-exports.php

12. http://www.ecb.int/ecb/educational/hicp/html/index.en.html13. http://www.mfe.govt.nz/environmental-reporting/report-

cards/household-consumption/2009/index.html
http://en.wikipedia.org/wiki/Weight_(representation_theory)http://en.wikipedia.org/wiki/Weight_(representation_theory)http://www.qfinance.com/dictionary/composite-indexhttp://www.qfinance.com/dictionary/composite-indexhttp://www.thefreedictionary.com/Composite+Indexhttp://www.thefreedictionary.com/Composite+Indexhttp://www.answers.com/topic/composite-indexhttp://www.answers.com/topic/composite-indexhttp://en.wikipedia.org/wiki/Composite_(finance)http://en.wikipedia.org/wiki/Composite_(finance)http://www.investopedia.com/terms/c/compositeindex.asphttp://www.investopedia.com/terms/c/compositeindex.asphttp://dictionary.reference.com/browse/weightagehttp://dictionary.reference.com/browse/weightagehttp://www.wordwebonline.com/en/WEIGHTAGE)http://www.wordwebonline.com/en/WEIGHTAGE)http://www.collinsdictionary.com/dictionary/english/weightagehttp://www.collinsdictionary.com/dictionary/english/weightagehttp://en.wikipedia.org/wiki/Price_indexhttp://www.ukessays.com/essays/economics/malaysia-economy-exports.phphttp://www.ukessays.com/essays/economics/malaysia-economy-exports.phphttp://www.ukessays.com/essays/economics/malaysia-economy-exports.phphttp://www.ukessays.com/essays/economics/malaysia-economy-exports.phphttp://www.ukessays.com/essays/economics/malaysia-economy-exports.phphttp://www.ecb.int/ecb/educational/hicp/html/index.en.htmlhttp://www.ecb.int/ecb/educational/hicp/html/index.en.htmlhttp://www.mfe.govt.nz/environmental-reporting/report-cards/household-consumption/2009/index.htmlhttp://www.mfe.govt.nz/environmental-reporting/report-cards/household-consumption/2009/index.htmlhttp://www.mfe.govt.nz/environmental-reporting/report-cards/household-consumption/2009/index.htmlhttp://www.mfe.govt.nz/environmental-reporting/report-cards/household-consumption/2009/index.htmlhttp://www.mfe.govt.nz/environmental-reporting/report-cards/household-consumption/2009/index.htmlhttp://www.mfe.govt.nz/environmental-reporting/report-cards/household-consumption/2009/index.htmlhttp://www.ecb.int/ecb/educational/hicp/html/index.en.htmlhttp://www.ukessays.com/essays/economics/malaysia-economy-exports.phphttp://www.ukessays.com/essays/economics/malaysia-economy-exports.phphttp://en.wikipedia.org/wiki/Price_indexhttp://www.collinsdictionary.com/dictionary/english/weightagehttp://www.wordwebonline.com/en/WEIGHTAGE)http://dictionary.reference.com/browse/weightagehttp://www.investopedia.com/terms/c/compositeindex.asphttp://en.wikipedia.org/wiki/Composite_(finance)http://www.answers.com/topic/composite-indexhttp://www.thefreedictionary.com/Composite+Indexhttp://www.qfinance.com/dictionary/composite-indexhttp://en.wikipedia.org/wiki/Weight_(representation_theory)


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