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This sitting is way harder than the sitting before. The style of the question change. In section A, there is many lengthy questions. This is not good.
I didn’t understand the mimimax regret question as there was no indication of demand. I therefore compared ‘no sales’ to ‘everything sold’. Was that correct?
Does anyone know if for the last question, sales price was used instead of contribution to work out the sales variance, would there be any credit at all or would it all be marked wrong?
Personally I think this sitting was harder than June 2015 and Dec 2014. The questions were generally more towards written and theory-based, less straightforward calculations ones. The scenarios given were also harder to understand thoroughly. Less specific details were given. Could get only 60-65 if I am lucky
You have to draw a matrix for demand and supply for 500,550,600,650 and then calculate the profit or loss.
Anyone else struggle with the question on weighted average for the percentages of overall satisfaction of the bus company? The question just baffled me for what was only a 2 mark question it was not worded very well and confusing. The problem is it led into the higher mark questions which were discursive based on your answer too this. In real life I would be able to ask for clarification on a requirement if I didn’t understand, however here I can only hope that I understood and responded correctly. Maybe I just didn’t understand the subject well enough, huh?
It is not worked out in this way.
If you assume nothing are sold or all are sold. There is no need to use minimax.
You should draw a column for demand 500 550 600 650. You then have to draw a row for the supply 500 550 600 650. For instance, for the first situation: when demand is 500, for supply 500 (500 are sold), 550 (500 are sold and 50 are discarded, so the calculation is 500*(5.8-1.6 my be this figure to get the unit selling profit)- cost of each unit production*50).
For the subsequent units, you will be able to calculate. Once you got all figures, for each level of supply, try to get the range.You will then be able to choose the smallest range relating the level of supply that you have toget.I think acca want to punish students for giving exam in September, this paper simply put was ridiculous. This was my third attempt and even then this seemed harder then all last 3 combined.
13 mcq required calculations which is simply not fair when scenario is half page. they have made it so hard to pass it is beyond belief.
i guess getting all exam fees repeatedly doesn’t seem a bad idea for acca..bloddy awful paper
@acaqub said:
I cannot remember exactly. I but think it should be 600.Yes, I got 600 with a regret of $180
@hoangduchung1903 said:
Yes, I got 600 with a regret of $180Well done bro!
@mauulik said:
I think acca want to punish students for giving exam in September, this paper simply put was ridiculous. This was my third attempt and even then this seemed harder then all last 3 combined.13 mcq required calculations which is simply not fair when scenario is half page. they have made it so hard to pass it is beyond belief.
i guess getting all exam fees repeatedly doesn’t seem a bad idea for acca..bloddy awful paper
Agree with you! Normally for past papers and specimen exam MCQs, I would only have 2 question to guess but in this sitting there are 2+2=4!
However, we are lucky as we have not been tested on transfer pricing. Can you remember the TP question in one of last two past papers? It’s a nightmare!
More sittings do not mean the chance of passing. If we are not sure what should I do, it’s further confirmation of our failure.
@theimaginarynumber said:
I didn’t understand the mimimax regret question as there was no indication of demand. I therefore compared ‘no sales’ to ‘everything sold’. Was that correct?It’s a duplicate reply. I deleted the content.
@theimaginarynumber said:
I didn’t understand the mimimax regret question as there was no indication of demand. I therefore compared ‘no sales’ to ‘everything sold’. Was that correct?It is not worked out in this way.
If you assume nothing are sold or all are sold. There is no need to use minimax.
You should draw a column for demand 500 550 600 650. You then have to draw a row for the supply 500 550 600 650. For instance, for the first situation: when demand is 500, for supply 500 (500 are sold), 550 (500 are sold and 50 are discarded, so the calculation is 500*(5.8-1.6 my be this figure to get the unit selling profit)- cost of each unit production*50).
For the subsequent units, you will be able to calculate. Once you got all figures, for each level of supply, try to get the range.You will then be able to choose the smallest range relating the level of supply that you have to get.Does anyone know if for the last question, sales price was used instead of contribution to work out the sales variance, would there be any credit at all or would it all be marked wrong??
Whether an expected value would help. I said no as no probabilities were given!
@theimaginarynumber said:
Whether an expected value would help. I said no as no probabilities were given!I can remember that the (b) only asks you to discuss rather than ‘calculate’ so youjust to say the characteristics of EV. If probability is given, then can calculate EV.
PS EV and Minimax or Maximax or Maximin are different systems. EV only considers repeated actions and then a weighted probability can be got. Minimax and other two concern the ‘pre-determined’ situations so there is no need for probabilities (all outcomes are given and the deliberate choice of maximum or minimum of figure denotes the certainty).
@theimaginarynumber said:
Whether an expected value would help. I said no as no probabilities were given!EV and decision choice are different in nature. For minimax regret, all things and all outcomes are being selected by you manually. Calculating for the optimal supply is not EV’s business. However, once it is available, you can calculate it.
@acaqub said:
It is not worked out in this way.If you assume nothing are sold or all are sold. There is no need to use minimax.
You should draw a column for demand 500 550 600 650. You then have to draw a row for the supply 500 550 600 650. For instance, for the first situation: when demand is 500, for supply 500 (500 are sold), 550 (500 are sold and 50 are discarded, so the calculation is 500*(5.8-1.6 my be this figure to get the unit selling profit)- cost of each unit production*50).
For the subsequent units, you will be able to calculate. Once you got all figures, for each level of supply, try to get the range.You will then be able to choose the smallest range relating the level of supply that you have toget.Is it like a 2 scenario? One with usual customers (5. 8 selling price) and one with public (7.4 or something selling price) Like normal demand with special contract. So we need to calculate total contribution of both of them
I might be wrong@gawcram said:
Is it like a 2 scenario? One with usual customers (5. 8 selling price) and one with public (7.4 or something selling price) Like normal demand with special contract. So we need to calculate total contribution of both of them
I might be wrongNot really, I think.
The selling price of $7.4 may be a distractor since the scenario clear states that the company sells its bunches to customers (train stations and other stores) so the only price applicable is $5.8. I don’t believe ACCA would ask knowledge across two areas in a 10 mark question.
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