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A survey on the average pass percentage achieved by four of the top-ranked colleges of a city for five different years was conducted to rate the quality of teaching in each of these colleges.
a. Construct a line chart for the time series data for years 1 through 5 showing the average pass percentage in each college. Show the time series for all four colleges on the same graph.
b. What does the line chart indicate about the average pass percentage of the colleges between years 1 through 5? Discuss.
c. Construct a clustered column chart showing average pass percentage in each college using the years 1 through 5 data. Represent the years along the horizontal axis, and cluster the average pass percentages for the four colleges in each year. Which college is leading in each year?
Errors
Mistakes or inaccuracies in financial records or transactions.
Unearned Revenues
Money received by a company for goods or services yet to be delivered or performed, considered a liability until fulfilled.
Depreciation
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the loss of value due to age, wear, and tear, or obsolescence.
Accrue Interest
The process of recognizing interest earned or incurred on an outstanding debt over a period of time.
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