A histogram plot.

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Week 4 Assignment 2 Problems
1. Use the Excel spreadsheet from last week’s homework for this question.
(HOMEWORK4InvoiceData.xlsx).
a) Stratify on the Invoice amount field. Create a histogram plot.
b) Create an aging report (in other words, stratify on the Invoice Date field).
(Again, refer to the file “UsingExcelasAuditSoftware.pdf” to help you answer the questions.)
2. The following table specifies information about four projects that a firm is considering. Create a project management decision tree chart similar to the exhibit on page 280 of your textbook. What project would you recommend to undertake?
PROJECT PROBABILITY RISK
OF SELECTION OF FAILURE
A 0.2 0.2
B 0.1 0.4
C 0.3 0.2
D 0.4 0.5
3. Chapter three of your textbook discusses the concept of “risk appetite”. Exhibit 3.12 on page 82 of your textbook gives a risk summary for seven risks. Which of these seven risks would most likely be classified as “within risk appetite” and which would probably be “exceeding risk appetite”?
4. Exhibit 4.1 on pages 98-100 of your textbook lists risk categories for a manufacturing company. Think about the application of this list to the company Amazon.com, and rank the risks from most important to least important.
5. Explain what is meant by objective setting and describe the four types of objectives used in ERM.

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