Forums › Ask ACCA Tutor Forums › ACCA Ethics and Professional Skills Module › Ethics and Professional skills module unit 7
 This topic has 109 replies, 41 voices, and was last updated 2 months ago by Kim Smith.

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January 23, 2020 at 6:15 pm #559655musowi75
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I am struggling with this unit. Getting 25%. Been months now. Please help me out
January 24, 2020 at 8:08 am #559797Kim SmithKeymaster Topics: 93
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In the section “Types of Analytics” in the course you will find a section “Predictive Analytics”. You can download the illustration BBQ sales.
You don’t have to be able to reproduce the multiple linear regression analysis in the end of unit assessment (because it’s provided) but you do need to READ the comments that interpret the output table (e.g the “coefficients” calculated provide the regression formula: Y = a + bX1 + cX2 + dX3 … etc)If you “copy” the process of the Illustration (without reperforming the multiple regression itself) you should be able to solve the numerical questions (e.g. putting the values 150, 15000 etc into the formula).
The unit also gives examples of where/why you should be sceptical or exercise caution in relying on results to answer the other end of unit questions.
January 24, 2020 at 12:33 pm #559815musowi75 Topics: 1
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I have tried but still am failing
January 24, 2020 at 1:34 pm #559822Kim SmithKeymaster Topics: 93
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Well Q3 you can get correct by trial and error so you need to get only one monetary amount correct in order to pass. You should input to nearest $ – no decimal or rounded to $000 for example.
What “x” values are you picking up from the spreadsheet to put into this formula?
Y = a + bX1 + cX2 + dX3February 6, 2020 at 5:25 am #560892Shariqfaraz Topics: 0
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i tried again i failed
February 6, 2020 at 5:27 am #560893Shariqfaraz Topics: 0
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Distance from capital Population Ticket barrier Demographic profile of town Predicted sales
150 15000 30000 3 ???February 6, 2020 at 8:36 am #560920Kim SmithKeymaster Topics: 93
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150 15000 30000 3 are the coefficients a, b, c, d to put into the formula. You need to pick the x values from the spreadsheet provided. If you can’t find them – go back to the illustration provided earlier in the unit and read how to interpret the spreadsheet.
February 6, 2020 at 12:46 pm #560937Shariqfaraz Topics: 0
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Again i tried by this formula still it says wrong answer
February 6, 2020 at 3:19 pm #560943Kim SmithKeymaster Topics: 93
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You should be putting in a $ amount (not nearest $000) for example.
If you have calculated an amount >$100,000 perhaps you have overlooked the intercept (a negative amount).
If you go back to the illustration you should see exactly how to calculate this. You really should be able to calculate it in the spreadsheet provided.
February 6, 2020 at 4:16 pm #560948Shariqfaraz Topics: 0
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Ok thank you got it ( Did error while rounded to $000 )
February 6, 2020 at 4:44 pm #560951Kim SmithKeymaster Topics: 93
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That’s a relief! Thank you for letting me know!
February 14, 2020 at 12:12 pm #561817swaminathansridhar Topics: 0
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Dear Sir,
How to approach the below question in Ethics and professional skills module unit 7?How much additional profit would be generated if $250,000 were spent on automated ticket barrier investment?
Kindly explain
Regards
SridharFebruary 14, 2020 at 1:33 pm #561830swaminathansridhar Topics: 0
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What would the predicted ticket sales with the following data:
Distance from capital Population Ticket barrier Demographic profile of town Predicted sales
150 15000 30000 3 ???
I am struggling to get the answer,please help sir
This is what i did 150 (63,964.58) 9594686.433
15000 234.9566375 3524349.563
30000 0.406247082 7048699.125
3 1.133622322 1.218741246
Answer i got 978,363.47February 14, 2020 at 10:01 pm #561882shaunadelaney17 Topics: 0
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Does anyone happen to know the answer to Unit 7 part 8 Abacus question any help would be great
February 15, 2020 at 8:34 am #561915Kim SmithKeymaster Topics: 93
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Please look at my earlier posts on this thread. You need to correctly identify the intercept value and x1 to x4 in the spreadsheet. If you work through the explanations in the illustration earlier in the unit you should be able to work these Qs out. I think you may be treating the intercept amount which should not be multiplied by anything as x1.
Re the abacus you just need to read very carefully the explanation of values top and bottom.
February 16, 2020 at 10:57 am #561990shaunadelaney17 Topics: 0
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Can anyone help i’m really struggling with end of unit assessment for Unit 7 can’t figure out any of the figures any help would be greatly appreciated
February 16, 2020 at 2:34 pm #562011Kim SmithKeymaster Topics: 93
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You have to work properly through the unit before attempting the assessment – see my post January 24, 2020 at 8:08 am on this thread.
February 20, 2020 at 4:22 pm #562521emmathomson1 Topics: 4
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Hi everyone.
I have read this post over and over along with the slides. I still do not understand question 1!
Can someone please explain this to me? Ideally in another way so I can actually understand this.
Thanks.
February 20, 2020 at 4:45 pm #562523Kim SmithKeymaster Topics: 93
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From the table of contents (TOC) select 5th box “Types of Analytics”
Use the navigation tool bottom left or otherwise scroll through to the section “Predictive Analytics”. The 2nd slide is called “Regression” – you can skip the bit about how to do the regression in excel (since the spreadsheet is provided for you) but read carefully the page which starts “Undertaking this process with the data above reveals the following output table:”
You can see in the table there is a “coefficients” column with 4 values matching intercept and three variables – X1, X2 and X3.
The next slide shows you the equation that is derived from the output table.The only difference between how you calculate Y to answer Q1 is that there are 4 variables not 3.
February 21, 2020 at 2:32 pm #562610emmathomson1 Topics: 4
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I understand I am required to use the formula which is displayed as ‘Y= 588 – 30X1 – 20X2 + 10X3’ but the application I do not understand.
Are the X1, X2 and X3 there to highlight what these numbers represent in the example?
I do not understand how I am to use the figures given in the question and the figures calculated in the spreadsheet in this formula.
I appreciate that you are unable to give out the actual answer however simply reading the limited explanation in the slides is not helping my understanding of what I need to.
February 21, 2020 at 2:48 pm #562625Kim SmithKeymaster Topics: 93
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Cell A15 of the spreadsheet says “intercept” – the value is the adjacent cell (B15)
Cell A16 says “X Variable 1” – I shortened this to X1.I think the underlying problem may be that you do not know/have forgotten what is mean by “regression analysis” which is assumed knowledge. If you look to Chapter 9 section 4 of our MA notes https://opentuition.com/acca/ma/ there is a short explanation of “linear” regression – i.e. with only two variables. There is a lecture to accompany this. A linear equation i.e. of the form “y = a + bx” provides the means by which an accountant can calculate y for any value of x.
Multiple regression is an extension of this – i.e. the equation gives the relationship between multiple variables.
February 21, 2020 at 3:15 pm #562627emmathomson1 Topics: 4
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Thank you for sending over the link to the online note but there does not appear to be a section 4 within Chapter 9.
Am I correct in thinking I am to multiply the values in the coefficient column by the corresponding values in the question within the formula? e.g. Y = intercept coefficient + (distance from capital value in question * X1) and so on?
Apologies but I really am not understanding any of this.
February 21, 2020 at 3:58 pm #562631Kim SmithKeymaster Topics: 93
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My sincerest apologies for typo – it is Chapter 19 (search work “regression”).
Yes that is exactly what you have to do and you can do it in the spreadsheet if you download it.
February 21, 2020 at 4:08 pm #562635emmathomson1 Topics: 4
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Thank you for helping Kim. I’ve got the answer now.
February 21, 2020 at 4:49 pm #562648Kim SmithKeymaster Topics: 93
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That’s great – thank you for letting me know. I hope you have some appreciation of what you achieved. If you’re not really sure there’s a short article here https://www.investopedia.com/ask/answers/060315/whatdifferencebetweenlinearregressionandmultipleregression.asp
I didn’t want to suggest that you look at this before because I know when faced with a specific problem students want to know the answer to that problem.
The link I’ve given you is to a very useful site if you are not familiar with it. From this article you can dip into more detail on linked topics (highlighted in blue and underlined). I find them relatively easy reading on quite complex topics and the longer articles are often summarised with “key takeaways” at the end.February 24, 2020 at 9:55 am #562920botsdolly Topics: 2
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hello
please help me, m stuck at epsm unit 7, i cannot open the units assesment no. 11 (regression question) , i try to click it does not open, so now m stcuk i cant proceed .what could be the problem?February 24, 2020 at 10:17 am #562925Kim SmithKeymaster Topics: 93
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Sometimes there is a glitch with the site – last time I remember it was for a couple of days. I have tried it just now – at first it didn’t load but it has launched now. I suggest close everything and try again.
February 24, 2020 at 11:22 am #562937botsdolly Topics: 2
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thanks i will keep trying it.
February 24, 2020 at 12:23 pm #562947botsdolly Topics: 2
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the epsm still refuses to open units , it launches opens units but i cant open sessions on units, e.g i can open unit 7 which has 11 activities but i can not go inside the activities
February 24, 2020 at 1:11 pm #562948Kim SmithKeymaster Topics: 93
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Is it ok when you try other units? If not perhaps you need to try a different browser or check your browser setting that it allows pop ups.
It is all working fine for me – so if nothing works for you you’ll need to contact ACCA directly.

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