Thursday, 10 December 2020

Andy Murray and Variances

 

ANDY MURRAY & VARIANCES












Andy Murray, born in May 1987, started playing tennis at 3yrs old and at 5yrs he started competing in tournaments and went pro in 2005. In 2006, he became British no. 1 tennis player and then world no. 1 tennis player in 2016. Andy has won 46 Singles tennis titles, including 3 Grand Slam singles and 2 Olympics Gold medals, making him the only tennis player ever to win two Olympic singles titles.

The British professional tennis player’s career prize money earning is about $61,544,007, making him the fourth tennis player in history with the highest prize money as at June 2020.

HERE GOES THE ACCOUNTANT!

Let’s assume he had budgeted to earn $80m as at June 2020, what is the variance and variance percentage?

If variance of 15% is significant, will this variance be significant or otherwise?

Budget

Actual

Variance

Variance %

Adverse/Favourable

Significant / Not Significant

80,000,000

61,544,007

18,455,993

23.07%

Adverse

S

 

Variance/ Budget x 100= 18455993/80000000x100= 23.07%

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