Alas i failed cp2 last sitting and looking back at my exam for sure the error in the formula didn't help although clearly i cannot blame that. What i'm unsure of mostly is that i used the chi squared test to try to determine if my level of tolerance was ok. On review now i think (regardless of the wild numbers my error was providing) but that test would not have helped in anyway. it would have only tested if the variation in fund values calculated were reasonable. so in hindsight i don't think chi would have helped here in any form - is there any suggestions as to when to use chi test v making up a tolerance % all by yourself? (it's been AGES since i did the stats exam)
Thinking about the last few CP2 papers, the Examiners seem to want a chi-squared test when you're testing the distribution of a set of data. For example, in Paper 1 of the April 2020 exam there was some data that was said to be from a Uniform distribution on (0,1) and you're asked to validate that claim. One way of doing that is using a chi-squared test, but the examiners accepted other ways, e.g. looking at the mean and standard deviation of the data vs the expected mean and standard deviation (you can use the Tables to help with this), or plotting a graph of the data. You can see the breakdown of marks available for this exercise by looking at the Examiners' Report.
