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Part 1 – How data affects mean and medianTable 1: The annual salaries of 25 people in one street in a new suburb of Canberra$71,562$49,587$53,654$102,658$42,985$31,595$24,450$26,860$55,614$56,555$50,500$37,951$44,214$64,195$81,687$41,665$59,654$18,671$54,450$42,900$61,460$38,523$78,159$52,365$67,22Open a new spreadsheet and put the salary data in a table with the following headings. Annual salaryEmployer's super contributions (11.5% of salary) $…

Explore, graph, and analyse data sets to answer questions about the distribution of income and superannuation in Australia. Part 1: How is Australia’s income distributed? Annual income range ($1,000s) No of people (1,000s) 1-25 834 25-50 5336 50-75 4502 75-100 2501 100-125 1501…

Organise students into groups of 3 or 4. Give groups the following linear and exponential function cards in the order given below. Only give them a set of cards after they have matched the previous set. Linked activity: Simple versus compound interest  

Linked activity: Simple versus compound interest

For these tasks you will set up a spreadsheet to investigate the difference making small payments more often makes to your super balance. Select one of the tasks. Task 1 You have been working for 10 years and your super balance has been growing, but you’ve decided to take a year off and travel overseas. You won’t be making any super contributions during that time. However, your super will still be growing because of the investments made by…

What is the basic economic problem? The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scarce resources. The problem arises from the fact that there is a limited supply of goods and raw materials to meet unlimited wants. This means that people would like to consumer more than it is possible to produce (scarcity). What is the fundamental economic question? Therefore because of scarcity,…

Directions: read each scenario and decide what you would choose. Identify the trade-off(s) and opportunity cost(s) of your choice. Scenario: What would you choose? Trade-Off(s): Opportunity Cost(s): Reeta can use her time after school to play soccer or to work at a part-time job. Madison can go on a church camp or work at the local supermarket during the holidays…

Scenario The government has been advised by the Minister for Health that there are not enough hospitals, cancer treatment centres and practising health consultants in regional areas to cope with number of patients currently seeking medical help for allergies, flu and cancer. They are advised that they need to spend another $5 million on these health services.   The government does not want to borrow money or sell assets, so it has to make a…