Statistics & Research Methods for Business Decision Making
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Assessment
Details and Submission Guidelines
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Unit
Code
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HI6007
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Unit
Title
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Statistics
and Research Methods for Business Decision Making
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Assessment
Type
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Assessment 2
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Assessment
Title
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Group
Assignment
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Total
Marks
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30
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Assignment
Specifications
Purpose:
This assignment aims at Understand
various qualitative and quantitative research methodologies and techniques, and
other general purposes are:
1. Explain
how statistical techniques can solve business problems
2. Identify
and evaluate valid statistical techniques in a given scenario to solve business
problems
3.
Explain and
justify the results of a statistical analysis in the context of critical
reasoning for a business problem solving
4.
Apply statistical
knowledge to summarize data graphically and statistically, either manually or
via a computer package
5. Justify
and interpret statistical/analytical scenarios that best fits business solution
Assignment Structure should be as
the following:
This
is an applied assignment. Students have to show that they understand the principles
and techniques taught in this course. Therefore students are expected to show
all the workings, and all problems must be completed in the format taught in
class, the lecture notes or prescribed text book. Any problems not done in the
prescribed format will not be marked, regardless of the ultimate correctness of
the answer.
(Note:
The questions and the necessary data are provided under “Assignment and Due
date” in the Blackboard.)
Instructions:
Your
assignment must be submitted in WORD format only!
When answering questions, wherever required,
you should copy/cut and paste the Excel output (e.g., plots, regression output
etc.) to show your working/output.
Submit your assignment through Safe-Assign in
the course website, under the Assignments and due dates, Assignment Final
Submission before the due date.
You are required to keep an electronic copy
of your submitted assignment to re-submit, in case the original submission is
failed and/or you are asked to resubmit.
Please check your Holmes email prior to
reporting your assignment mark regularly for possible communications due to
failure in your submission.
Please read below information
carefully and respond all questions listed.
Question 1
The planet may be threatened by climate change due
to unsustainable activities, possibly caused by burning fossil fuels
(petroleum, natural gas and coal) that produce carbon dioxide (CO2). The table
stored in file CO2
EMISSIONS.XLSX (in the course website) lists the top 15 producers of
CO2
(millions of metric tonnes) from fossil fuels in 2009 and 2013. Using this
data, answer the questions below.
(a)
Use an
appropriate graphical technique to compare the amount of CO2 emissions (in
millions of metric tonnes) in 2009 and 2013, broken down by the producer
countries.
(b)
Use an
appropriate graphical technique to compare the percentage value of the amount
of CO2
emissions (in %) in 2009 and 2013, broken down by the producer countries.
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(c)
Comment your observations in parts (a) and (b).
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Question 2.
The
amount of time (in seconds) needed for assembly-line workers to complete a weld
at a car
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assembly
plant in Adelaide was recorded for 40 workers.
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59
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60
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81
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74
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68
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66
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49
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76
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63
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67
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69
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35
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65
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61
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43
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72
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83
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65
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69
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70
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54
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61
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38
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92
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72
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74
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55
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63
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69
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73
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75
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47
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60
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62
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68
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51
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71
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73
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68
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99
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a.
Construct a
frequency distribution and a relative frequency distribution for the data.
b. Construct
a cumulative frequency distribution and a cumulative relative frequency
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distribution for the data.
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c. Plot
a relative frequency histogram for the data.
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d. Construct
an ogive for the data.
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e. What
proportion of the data is less than 65?
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f. What
proportion of the data is more than 75?
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Use
following class intervals to answer the above questions
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Classes
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Frequency
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Relative
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Cumulative
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Cumulative
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Frequency
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Frequency
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Relative
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Frequency
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35
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- 44
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45
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- 54
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55
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- 64
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65
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- 74
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75
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- 84
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85
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- 94
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95
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- 104
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Question
3.
Because inflation reduces the purchasing power of
the dollar, investors seek investments that will provide protection against
inflation; that is, investments that will provide higher returns when inflation
is higher. It is frequently stated that ordinary shares provide just such a
hedge against inflation. The annual Australian inflation rate (as measured by
percentage changes in the consumer price index) and the annual All-Ordinaries
Index from 1995 to 2015 are stored in file INFLATION.XLSX (in the course website).
Using
EXCEL, answer below questions:
a. Using
an appropriate graphical descriptive measure (relevant for time series data)
describe the
two variables.
b.
Use an
appropriate plot to investigate the relationship between RATE OF INFLATION and ALL-ORDINARIES
INDEX. Briefly explain the selection of each variable on the X and Y axes
and why?
c. Prepare a
numerical summary report about the data on the two variables by including the
summary measures, mean, median, range, variance, standard deviation, and coefficient
of variation, smallest and largest values, and the three quartiles, for each
variable.
d. Calculate the coefficient of correlation (r) between RATE OF
INFLATION
and
ALL-ORDINARIES INDEX. Then, interpret it.
e. Estimate
a simple linear regression model and present the estimated linear equation.
Then,
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Determine the coefficient of determination R2
and interpret it.
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g.
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Test the significance of the relationship at the
5% significance level.
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h. What
is the value of the standard error of the estimate (se).
Then, comment on the fitness of
the linear regression model?
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