The prices of goods sold in shops vary from one shop to another. Shoppers tend to buy goods which are not only reasonably priced but also give value for their money. You are required to carry out a survey on four different items based on the following categories i.e. food, detergent and stationery. The survey should be done in three different shops.
(a) Collect pictures, newspaper cuttings or photos on items that you have chosen. Design a collage to illustrate the chosen items.
(b) Record the items and their prices systematically as in Table 1. Since items may be differently packed, be sure to use consistent measurements for each item selected so that comparison can be done easily and accurately.
(c) Create at least two suitable graphical representations (the use of ICT is encouraged) to compare and contrast the prices of the items chosen.
(d) Based on the graphical representations that you have constructed in Part 1(c), interpret, discuss and draw conclusions. Comments on your findings.
(e) Identify an item that has a large price difference among the shops. Calculate the mean and the standard deviation of that particular item. Hence, suggest and discuss possible reasons for the price difference.
Every year SMK Indah organises a carnival to raise funds for the school. This year the school plans to install air conditioners in the school library. Last year, during the carnival, your class made and sold butter cakes. Because of the popularity of butter cakes, your class has decided to carry out the same project for this year's carnival.
(a) Suggest a shop from Part 1 from which you would go to purchase the ingredients for the butter cakes. State and discuss your reasons for purchasing from the shop you suggested.
(b) Complete Table 2 with the prices of the items found in the shop/supermarket that you have chosen.
(i) Calculate the price index for each of the ingredients in Table 2 for the year 2010 based on the year 2009.
(ii) Calculate the composite index for making a butter cake in the year 2010 based on the year 2009. Discuss how you obtained your answers.
(iii) In the year 2009, the butter cake was sold at RM15.00 each. Suggest a suitable selling price for the butter cake in the year 2010. Give reasons for your answer.
(c) (i) Find out from reliable sources how to determine suitable capacity of air-conditioner to be installed based on volume/size of a room.
(ii) Work in groups to estimate the volume of your school library. Explain how you arrive at your answer. Hence, determine the number of air conditioners with the appropriate capacity required for your library.
(iii) If your class intends to sponsor one air conditioner for the school library, how many butter cakes must your class sell in order to buy the air conditioner?
As a committee member for the carnival, you are required to prepare an estimated budget to organise this year's carnival. The committee has to take into consideration the increase in expenditure from the previous year due to inflation. The price of food, transportation and tents has increased by 15%. The cost of games, prizes and decorations remains the same, whereas the cost of miscellaneous items has increased by 30%.
(a) Complete Table 3 based on the information given above.
(b) Calculate the composite index for the estimated budget of the carnival in the year 2010 based on the year 2009. Comment on your answer.
(c) The change in the composite index for the estimated budget for the carnival from the year 2009 to the year 2010 is the same as the change from the year 2010 to the year 2011. Determine the composite index of the budget for the year 2011 based on the year 2009.
Index numbers are being used in many different daily situations, for example air pollution index, stock market index, gold index and property index.
Obtain information from the Internet or other reliable sources on the importance of two different types of index numbers of your choice. Elaborate the use and the importance of these index numbers in daily life situations.
While you were conducting the project, what have you learnt? What moral values did you practise? Represent your opinions or feelings creatively through usage of symbols, illustrations, drawings or even in a song.