Q18a Q18b Q19

Q18a: What is statistical analysis? (minimum 20 words) A: Q18b: How can statistical analysis be used to develop appropriate operational budgets? In your answer, discuss the different measures of variance giving an example using financial data, e.g. sales figures, competitor prices etc. (minimum 30 words) A: Q19: Describe two (2) key areas of organisational policies and procedures for financial administration relating to budgeting, e.g. reporting, recordkeeping, accuracy of data, historical records etc. (minimum 20 words) A