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Question 6.17 of DHW (2nd edition)

+1 vote
51 views
asked Oct 23, 2016 in BUS 3024S - Contingencies by Ayesha
edited Oct 23, 2016 by simon_rigby
All my answers for this question is off by a little bit compared to the answers at the back of the chapter. I cannot figure out where I went wrong. Please help
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commented Oct 23, 2016 by simon_rigby (4,220 points)

Hi Ayesha

Would you be able to attach a photo of the question and your working so far?

commented Oct 23, 2016 by Ayesha Camroodien (610 points)

Attached is the question and my attempt

commented Oct 23, 2016 by Ayesha Camroodien (610 points)

It wont let me attach the images...

commented Oct 23, 2016 by simon_rigby (4,220 points)

Sorry I'm not sure why that's the case. Could you email it to me?

commented Oct 23, 2016 by Ayesha Camroodien (610 points)

I emailed it to you. Thanks so much!

1 Answer

+1 vote
answered Oct 24, 2016 by simon_rigby (4,220 points)

I'm quite sure that the only reason your answers are "off by a little bit" is that you have used the numbers from the tables, and they are only accurate to a limited number of significant figures. (How do I know this is the reason? Because the numbers in the tables have no more than 5 significant figures, while the answers (except b) have a lot more).


The only way to get more accurate answers would be to recreate the tables in Excel or R, with a greater degree of precision, and do your calculations from there.


On page xix of the book, the authors confirm this: "In the worked examples in the text, we have worked with greater accuracy than we record, so there will be some differences from rounding when working with intermediate figures."

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