Question 3

Joanna now decides that it would be useful for her Board report, to determine the number of cases that belong to each the following intervals or classes of values for the times taken to provide tax advice.

a. Using her sample of 15 data points from Question 2, complete the table so she can calculate the mean class, median class and the modal class based on the grouped data. Row 1 has been entered for you.

Hours taken to provide tax advice only	Mid-point (m)	Frequency of consultations per class (f)	(f times m)	Cumulative frequency
6-9	7.5	2	15	2
10-13
14-17
18-21
22 -25
90-93

b. Using the data in your table,

1. find the sum (total) of all the values in the column for the frequency of consultations per class (f)
2. Find the sum (total) of all the values in the column for the frequency of consultations per class multiplied by the mid-points of each class (f times m)

c. Calculate the mean time needed to provide tax advice based on your answers to part b.

d. Find the modal interval (class)

e. Joanna is keen to increase the number of clients who receive tax advice. She intends to send her existing client base a monthly newsletter informing them of tips to consider relating to their tax affairs. She is hoping that these monthly newsletters will increase client interest in the tax advice her firm offers.The accounting practice currently has 4 full-time staff dedicated to providing taxation advice only. Joanna has heard concerns that these staff feel overworked.

Go to the Fairwork website and specify the maximum weekly hours a full-time employee can work under the National Employment Standards.

f. Considering the mean hours spent providing taxation advice only (from Question 3c), are the 4 staff in the practice sufficient to meet the needs of the current 530 clients seeking taxation advice only? (show your calculations)

g. To prepare the report for the Board meeting outlining the justification for an increase in staff, use the following report template to ensure all relevant details are included.

Board Report 22 May 202X Section A: Staffing requirements for accounting practice
Purpose of this section of the report:	To determine staff requirements for provision of taxation advice only
Mean number of hours to provide taxation advice only per client	19.23
Current number of clients seeking taxation advice only	530
Total hours required to meet current demand for taxation advice only	10,192
Excess/Insufficient hours currently available from staff to provide taxation advice only	Insufficient by 2896 hrs (10,192 - 7296)
If client numbers requiring taxation advice only increase by 10% via marketing of newsletters
Total number of clients requiring taxation advice only
Total hours required to meet new demand for taxation advice only
Number of staff required to meet the demand for taxation advice only

h. Outline 2 items of useful information that the Fairwork website can provide to Joanna as she grapples with the complex decision about increasing the number of staff in the accounting practice.

i. Outline 3 items of useful information that the ATO website can provide any business in the financial services sector.