HOLMES INSTITUTE
FACULTY OF
HIGHER EDUCATION
HI6007 STATISTICS FOR BUSINESS DECISIONS GROUP ASSIGNMENT
To ensure that all students participate equitably in the group assignment and that students are responsible
for the academic integrity of all components of the assignment. You need to complete the following table
which identifies which student/students are responsible for the various sections of the assignment
Assignment Section Student/Students
This table needs to be completed and submitted with the assignment as it is a compulsory component required
efore any grading is undertaken.
HOLMES INSTITUTE
FACULTY OF
HIGHER EDUCATION
HI6007 STATISTICS FOR BUSINESS DECISIONS GROUP ASSIGNMENT
Assessment Details and Submission Guidelines
Trimester T3 2019
Unit Code HI6007
Unit Title Statistics and Research Methods for Business Decision Making
Assessment Type Assessment 2
Assessment Title Group Assignment
Purpose of the
assessment (with ULO
Mapping)
Students are required to show the understanding of the principles and techniques of
usiness research and statistical analysis taught in the course.
Weight 40 % of the total assessments
Total Marks 40
Word limit N/A
Due Date XXXXXXXXXXLecture 10
Submission
Guidelines
All work must be submitted on Blackboard by the due date along with a completed
Assignment Cover Page.
The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm
margins on all four sides of your page with appropriate section headings and page
numbers.
Reference sources must be cited in the text of the report, and listed appropriately
at the end in a reference list using Harvard referencing style.
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HI6007 STATISTICS FOR BUSINESS DECISIONS
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 co
ectness 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.
Important Notice:
All assignments submitted undergo plagiarism checking; if found to have cheated, all involving
submissions would receive a mark of zero for this assessment item.
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HI6007 STATISTICS FOR BUSINESS DECISIONS
Question 1
Australian food and fi
e exports have been on the increase for decades. Among the six Australian
states, Victoria leads food and fi
e exports. The following table lists the value of food and fi
e
exports (in millions of dollars) by states in Australia for the years 2010 and 2015. The table is stored in
file AUSTRALIAN FOOD AND FIBRE EXPORTS.XLSX (in the course website). Using this data, answer
the questions below XXXXXXXXXXMarks)
(a) Use an appropriate graphical technique to compare the amount of food and fi
e exports
(in millions of dollars) in 2010 and 2015,
oken down by the Australian states. (2 marks)
(b) Use an appropriate graphical technique to compare the percentage value of the amount
of food and fi
e exports (in %) in 2010 and 2015,
oken down by the Australian states.
(2 marks)
(c) Comment your observations in parts (a) and (b XXXXXXXXXXmarks)
Question 2.
The numbers of weekly sales calls by a sample of 40 telemarketers were recorded in the table below.
XXXXXXXXXXMarks)
XXXXXXXXXX XXXXXXXXXX
XXXXXXXXXX XXXXXXXXXX
XXXXXXXXXX XXXXXXXXXX
XXXXXXXXXX XXXXXXXXXX
a. Construct a frequency distribution and a relative frequency distribution for the data.
XXXXXXXXXXmarks)
. Construct a cumulative frequency distribution and a cumulative relative frequency
distribution for the data XXXXXXXXXXmarks)
c. Plot a relative frequency histogram for the data XXXXXXXXXXmarks)
d. Construct an ogive for the data XXXXXXXXXXmarks)
e. What proportion of the data is less than 20? (1 mark)
f. What proportion of the data is more than 24? (1 mark)
Use following class intervals to answer the above questions
Classes Frequency Relative
Frequency
Cumulative
Frequency
Cumulative
Relative
Frequency
0 - 4
5 - 9
10 - 14
15 - 19
20 - 24
24 - 29
30 - 34
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HI6007 STATISTICS FOR BUSINESS DECISIONS
Question XXXXXXXXXXMarks)
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 XXXXXXXXXXmarks)
. 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?
XXXXXXXXXXmarks)
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.
XXXXXXXXXXmarks)
d. Calculate the coefficient of co
elation (r) between RATE OF
INFLATION and ALL-ORDINARIES INDEX. Then, interpret it. (2 marks)
e. Estimate a simple linear regression model and present the estimated linear equation. Then,
interpret the coefficient estimates of the linear model XXXXXXXXXXmarks)
f. Determine the coefficient of determination R2 and interpret it. (2 marks)
g. Test the significance of the relationship at the 5% significance level. (4 marks)
h. What is the value of the standard e
or of the estimate (se). Then, comment on the fitness of
the linear regression model? XXXXXXXXXXmarks)
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HI6007 STATISTICS FOR BUSINESS DECISIONS
Marking criteria
Marking criteria Weighting
1. Australian Food and Fi
e Export analysis:
a) Appropriate graphical technique for comparing the values
) Appropriate graphical technique for comparing the percentage
values
c) Comparing a and b
6 marks
2 marks
2 marks
2 marks
2. Analysis of number of sales calls:
a) Appropriate frequency distribution
) Appropriate cumulative frequency distribution
c) Histogram
d) Ogive
e) and f) Proportion
10 marks
2 marks
2 marks
2 marks
2 marks
2 marks
3. Estimation and testing significance level:
a) Descriptive measure
) Scatter plot
c) Numerical summary report
d) Co
elation coefficient
e) Estimating regression line
f) Estimating coefficient of determination
g) Testing significance
h) Standard e
or
24 marks
2 marks
3 marks
4 marks
2 marks
5 marks
2 marks
4 marks
2 marks
TOTAL Weight 40%
Assessment Feedback to the Student: