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ACC544 - Decision Support Tools

ACC544 - Decision Support Tools
Session 1 2019
Faculty of Business, Justice and Behavioural Sciences School of Accounting and Finance
Internal Mode
Credit Points 8

rsity's

Lecturer: Sajjad Khan

Email: skhan@studygroup.com

This subject focuses on the application of quantitative management tools to data analysis in order to assist management decision makers in organisations. It introduces relevant
statistical, operations research and operations management techniques which can be used to enhance the ability of managers to make informed decisions. Use is made of computer software designed to support the decision making function.

Learning outcomes

Key subjects

Passing a key subject is one of the indicators of satisfactory academic progress through your course. You must pass the key subjects in your course at no more than two attempts. The first time you fail a key subject you will be at risk of exclusion; if you fail a second time you will be excluded from the course.

Class/tutorial times and location

Your class times can be found at . Find out

Learning materials

Also, you should read the relevant references to the textbook (Render, Stair, Hanna and Hale (2018) Quantitative Analysis for Management, 13 ed, Pearson). The textbook is also supported by a Companion Website containing problems and Excel QM (Excel Add In) and POM-QM for Windows software should prove useful.

Other resources may be placed in Student Resources during the session.

Use the subject schedule to plan your studies over the session.

Information on effective time management is available on the CSU Learning Support website via the following link: student.csu.edu.au.

- CSU Library Services including Primo Search & Subject online and video tutorials in research skills, finding journal articles for assignments, topic analysis, download Endnote referencing program and many other onp you successfully complete your assignments for all CSU courses.

- Powerful search engine from National Library of Australia to access esources on any subject from one search.

Bookmark your Subject Library Resource Guide
Subject Library Guides are a great way to get started with research. Each online guide is tailored to a specific area of study, including Accounting, Business & Information Technology your area and where to look for information.

Academic Learning Support Assistance:
Visit the learning support website for advice about assignding exams at:

ould be directed to your subject lecturer.

Recommended student time commitment

Preparation of answers to topic review questions 2.0 hours

Participation in weekly face-to-face classes 3.0 hours

Additional pass/fail requirements:

To be eligible for the grade of AA or AE you must have submitted all assessment items including the final exm. If you choose not to complete an assessment item or do not sit the final exam then you will not be granted an AA or an AE grade.

* Due date is the last date for assessment items to be received at the University ** Applies only to assessment items submitted by the due date

1. Copy the above table into Excel and using formulas complete the missing column figures (note that the 5th and 6th columns refer to cumulative probability distributions) while the last 2 columns contain variance calculations. All cells (except for cols 1 and 2) are to contain formulas so no fudging. Answer the questions below by highlighting the answers in your table, and simply repeating these figures against answers 2 to 6. After answering the questions below paste your Excel model into Word, twice, once showing the output and once showing formulas (with row and column headings).

2. What were the average daily sales? Highlight your answer in the spreadsheet and repeat it here.

(c) A lot of 10,000 parts, produced on four machines, was graded according to three grades. These results were:

4. Needs to be reworked?

5. Needs to be scrapped given that it was produced by machine W?

The following question involves learning/employing research skills in searching out data on the Internet

Search the Internet for the latest figures you can find to answer the following questions:

(a) A company wishes to set control limits for monitoring the direct labour time to produce an important product. Over the past the mean time has been 30 hours with a standard deviation of 6 hours and is believed to be normally distributed. The company proposes to collect random samples of 64 observations to monitor labour time.

1. If management wishes to establish x-bar control limits covering the 95% confidence interval, calculate the appropriate UCL and LCL.

2. Calculate the critical value (actual value or Z-value)
3. Sketch the situation, showing the critical value and the reject region (in terms of actual values or Z-values).

4. Explain your conclusion

• be able to apply probability concepts to decision making.

• be able to demonstrate understanding of the application of statistical hypothesis testing to decisions, with particular emphasis on quality control and interpreting the significance of regression coefficients in cost estimation.

1. Present answers in the same sequence as the questions set. 2. The front page of your assessment should consist of :

• subject code and subject name
• your name and student number
• assessment item number

Value: 10%
Due Date: 09-Apr-2019
Return Date: 03-May-2019
Submission method options: Alternative submission method

Task

Making presentations and working in teams are important professional skills. As a graduate accountant with a Master’s degree you are expected to be able to justify and communicate accounting advice and ideas in diverse collaborative contexts. In this assessment, you are

developing and demonstrating some of these skills.

• be able to demonstrate problem-solving skills in assessing, organising, summarising and interpreting relevant data for decision making purposes.

• be able to apply decision theory to business situations.