HI6007 Assessment 2 T1 2020

Trimester 	T1 2020 
Unit Code 	HI6007 
Unit Title 	Statistics for Business Decisions 
Assessment Type  Assessment 2 
Assessment Title  Group Assignment 
Holmes Institute

Purpose of the assessment (with ULO Mapping)

Students are required to show the understanding of the principles and techniques of business research and statistical analysis taught in the course.

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

Please read below information carefully and respond all questions listed.

Question 1 (4 Marks)

The higher education department of Holmes Institute recorded data on the number of students enrolled in the different study majors for the years 2018 and 2019. The data are stored in file STUDYMAJOR.xls.

1. Use an appropriate graphical technique or chart to compare the number of enrolment in 2018 and 2019 of the different study major. Display the chart. (2 marks)
2. Use an appropriate graphical technique or chart to display the percentage value of the number of enrolment of the different study major in 2018 and 2019. Display the chart.

(2 marks) Note: Questions 2 to 6 are related.

Question 2 (8 marks)

Sociologists argued that women on average earn less than men as women often choose to work less hours. They further suggest that the choice of hours worked may be driven by various factors such as age, childcare needs, occupation choice and flexibility. To investigate the relation between hours worked and income earned by Australian men and women, a researcher plans to survey a sample of individuals across the country. Briefly explain (using no more than 250 words in total for this question)

1. What type of survey method the researcher could use and why? (2 marks)
2. What sampling method could the researcher use to select his/her sample and why?

(2 marks)

1. What are the two main variables the researcher should consider collecting data for the purpose of the above analysis and why? Identify the data type(s) for the variables. (2 marks) d) What kind of issues the researcher may face in this data collection? (2 marks)

Suppose a researcher has collected data from a sample of 65 individuals using the sampling method you have proposed in (b). For each individual, the hours worked per week and yearly income (measured in ‘000’s dollars) were recorded. The data are stored in file HOURSWORKED.xls.

Question 3 (6 marks)

First, the researcher categorised the data into six location groups and six occupation groups, and calculated the frequencies given below.

Frequency tables

Using Excel and the data in the frequency tables above, answer the following questions.

1. Which graphical technique or chart should be used if the researcher is interested in comparing the number of individuals in each location group? Explain the reason for the selection of this graphical chart. Construct and display the chart, also briefly describe what you can observe about the number of individuals belonging to each location category. (3 marks)

1. Which graphical technique or chart should be used if the researcher is interested in comparing the proportion of the number of individuals in each occupation group? Explain the reason for the selection of this graphical chart. Construct and display the chart, also briefly describe what you can observe about the proportion of the number of individuals belonging to each

occupation category. (3 marks)

Question 4 (7 marks)

Second, the researcher wishes to use graphical descriptive methods to present summaries of the data on each of the two variables: hours worked per week and yearly income, as stored in file HOURSWORKED.xls.

1. The number of observations (n) is 65 individuals. The researcher suggests using 7 class intervals to construct a histogram for each variable. Explain how the researcher would have decided on

the number of class intervals (K) as 7. (2 marks)

1. The researcher suggests using class intervals as 10 < X ≤ 15, 15 < X ≤ 20, …, 40 < X ≤ 45 for the hours per week variable and class intervals 40 < X ≤ 45, 45 < X ≤ 50, ..., 70 < X ≤ 75 for the yearly income variable. Explain how the researcher would have decided the width of the above class

intervals (or class width). (2 marks)

1. Draw and display a histogram for each of the two variables using appropriate BIN values from part (b) and comment on the shape of the two distributions. (3 marks)

Question 5 (5 marks)

Third, the researcher wishes to use numerical descriptive measures to summarize the data on each of the two variables: hours worked per week and yearly income.

1. Prepare and display a numerical summary report for each of the two variables including summary measures such as mean, median, range, variance, standard deviation, smallest and largest values and the three quartiles.

Notes: Use QUARTILE.EXC command to generate the three quartiles. (3 marks)

1. Compute the correlation coefficient using the relevant Excel function to measure the direction and strength of the linear relationship between the two variables. Display and interpret the correlation value. (2 marks)

Question 6 (10 marks)

Finally, the researcher considers using regression analysis to establish a linear relationship between the two variables – hours worked per week and yearly income.

1. What is the dependent variable and independent variable for this analysis? Why? (2 marks)
2. Use an appropriate plot to investigate the relationship between the two variables. Display the plot. On the same plot, fit a linear trend line including the equation and the coefficient of determination R². (2 marks)
3. Estimate a simple linear regression model and present the estimated linear equation. Display the regression summary table and interpret the intercept and slope coefficient estimates of

the linear model. (4 marks)

1. Display and interpret the value of the coefficient of determination, R-squared (R²).

(2 marks)

Marking criteria

Marking Rubric

• Australia Universities Assignments

  • Laureate International Universities Assignment
  • Holmes Institute Assignment
  • Tafe NSW
  • Yes College Australia
  • ACC508 Informatics and Financial Applications Task 2 T2, 2019
  • ACC512 Accounting
  • ACC520 Legal Regulation of Business Structures Semester 2, 2019
  • ACCT20074 Contemporary Accounting Theory Term 2 Assessment 3
  • AERO2463 Computational Engineering Analysis : Assignment 4
  • B01DBFN212 Database Fundamentals Assessment 1
  • BE01106 - Business Statistics Assignment
  • BFA301 Advanced Financial Accounting
  • BFA504 Accounting Systems Assessment 3
  • BSB61015 Advanced Diploma of Leadership and Management
  • BSBADV602 Develop an Advertising Campaign
  • BSBCOM603 Plan and establish compliance management systems case study
  • BSBCOM603 Plan and establish compliance management systems Assessment Task 1
  • BSBCOM603 Plan and establish compliance management systems Assessment Task 2
  • BSBCOM603 Plan and establish compliance management systems Assessment Task 3
  • BSBFIM501 Manage Budgets And Financial Plans Assessment Task 1
  • BSBHRM602 Manage Human Resources Strategic Planning
  • BSBINM601 Manage Knowledge and Information
  • BSBWOR501 Assessment Task 3 Plan Personal Development Plan Project
  • BSBMGT517 Manage Operational Plan
  • BSBWHS521 Ensure a Safe Workplace For a Work Area
  • BSBWRK510 Manage employee relations
  • BUSS1030 Accounting, Business and Society
  • CAB202 Microprocessors and Digital Systems Assignment Help
  • CHC40213 Certificate IV in Education Support
  • CHCAGE001 Facilitate the empowerment of older people
  • CHCAGE005 Provide support to people living with dementia
  • CHCCCS023 Support independence and wellbeing
  • CHCCCS025 Support relationships with carers and families
  • CHCCOM005 Communicate and CHCLEG001 Work Legally Ethically
  • CHCDIS002 Follow established person-centred behaviour supports
  • CHCECE019 Early Childhood Education and Care
  • CHCHCS001 Provide home and community support services
  • COMP10002 Foundations of Algorithms
  • COMP90038 Algorithms and Complexity
  • COSC2633/2637 Big Data Processing
  • COSC473 Introduction to Computer Systems
  • CPCCBC5011A Manage Environmental Management Practices And Processes In Building And Construction
  • CPCCBC5018A Apply structural Principles Medium rise Construction
  • CSE3OSA Assignment 2019
  • ELEC242 2019 Session 2
  • ENN543 Data Analytics and Optimisation
  • ENN543 Data Analytics and Optimisation Semester 2, 2019
  • FINM202 Financial Management Assessment 3 Group Report
  • Forensic Investigation Case Study ECU University
  • HA2042 Accounting Information Systems T2 2019
  • HC1010 Holmes Institute Accounting For Business
  • HC2112 Service Marketing and Relationship Marketing Individual Assignment T2 2019
  • HC2121 Comparative Business Ethics & Social Responsibility T2 2019
  • HI5002 Holmes Institute Finance for Business
  • HI5003 Economics for Business Trimester 2 2019
  • HI5004 Marketing Management T1 2020 Individual Report
  • HI5004 Marketing Management T1 2020 Group Report
  • HI5004 Holmes Institute Marketing Management
  • HI5014 International Business across Borders Assignment 1
  • HI5014 International Business across Borders
  • HI5017 Managerial Accounting T2 2019
  • HI5017 Managerial Accounting T1 2019
  • HI5019 Tutorial Questions 1
  • HI5019 Strategic Information Systems for Business and Enterprise T1 2020
  • HI5019 Holmes Institute Strategic Information Systems T2
  • HI5019 T2 2019
  • HI5019 T1 2019
  • HI5020 Corporate Accounting T3 2019
  • HI5020 Corporate Accounting T2 2019
  • HI6005: Management and Organisations in a Global Environment
  • HI6006 Tutorial questions
  • HI6006 Competitive Strategy Individual T1 2020
  • HI6006 Holmes Institute Competitive Strategy
  • HI6006 Competitive Strategy T3 2019
  • HI6007 Assessment 2 T1 2020
  • HI6007 T1 2019
  • HI6008 T2 2019
  • HI6008 Holmes Institute Research Project
  • HI6025 Accounting Theory and Current Issues
  • HI6026 Audit, Assurance and Compliance Assignment Help
  • HI6026 Audit, Assurance and Compliance
  • HI6027 Business and Corporate Law T3 2019
  • HI6027 Business and Corporate Law T2 2019
  • HI6028 Taxation Theory, Practice and Law T2 2019
  • HI6028 Taxation Theory T1 2019
  • HI6028 Taxation Law Holmes
  • HLTAAP001 Recognise healthy body systems
  • HLTWHS002 Follow safe practices for direct client care
  • HOTL5003 Hotel Property and Operations
  • HPS771 - Research Methods in Psychology A
  • HS2021 Database Design
  • ICTICT307 Customise packaged software applications for clients
  • IFN619 Data Analytics for Strategic Decision Makers
  • INF80028 Business Process Management Swinburne University
  • ISY2005 Case Study Assessment 2
  • ISYS326: Information Systems Security Assignment 2, Semester 2, 2019
  • ITAP3010 Developing Data Access Solutions Project
  • ITECH1103- Big Data and Analytics – Lab 3 – Working with Data Items
  • ITECH1103- Big Data and Analytics Assignment Semester 1, 2020
  • ITECH 5500 Professional Research and Communication
  • Kent Institute Australia Assignment
  • MA5830 Data Visualisation Assignment 2
  • MGMT7020 Project Management Plan
  • Mgt 301 Assessment 3
  • MGT215 Project Management Individual Assignment
  • MITS4002 Object Oriented Software Development
  • MITS5002 Software Engineering Methodology
  • MKT01760 Tourism Planning Environments Assessment 4
  • MKT01760 Tourism Planning Environments
  • MKT01906 International Tourism Systems
  • MKT5000 Marketing Management S2 2019
  • MNG03236 Report Writing SCU
  • MRE5003 Industrial Techniques In Maintenance Management Assignment 4
  • MRE5003 Industrial Techniques In Maintenance Management Assignment 3
  • MRE5003 Industrial Techniques In Maintenance Management
  • Network Security and Mitigation Strategies Answers
  • NIT2213 Software Engineering Assignment
  • NSB231 Integrated Nursing Practice Assessment Task 1
  • Science Literacy Assessment 4
  • SIT323 Practical Software Development T 2, 2019
  • SIT718 Using aggregation functions for data analysis
  • SITXCOM002 Show Social and Cultural Sensitivity
  • TLIL5055 Manage a supply chain
  • TLIR5014 Manage Suppliers
  • USQ ACC5502 Accounting and Financial Management
  • UTS: 48370 Road and Transport Engineering Assessment 2
  • CHCAGE001 Facilitate the empowerment of older people
  • CHCAGE005 Provide support to people living with dementia
  • CHCCCS011 Meet personal support needs
  • CHCCCS015 Provide Individualised Support
  • CHCCCS023 Support independence and wellbeing
  • CHCCCS025 Support relationships with carers and families
  • CHCCOM005 Communicate and work in health or community services
  • CHCDIS001 Contribute to ongoing skills development
  • CHCDIS002 Follow established person-centred behaviour supports
  • CHCDIS003 Support community participation and social inclusion
  • CHCDIS005 Develop and provide person-centred service responses
  • CHCDIS007 Facilitate the empowerment of people with disability
  • CHCDIS008 Facilitate community participation and social inclusion
  • CHCDIS009 Facilitate ongoing skills development
  • CHCDIS010 Provide person-centred services
  • CHCDIV001 Work with diverse people
  • CHCHCS001 Provide home and community support services
  • CHCLEG001 Work legally and ethically
  • CHCLEG003 Manage legal and ethical compliance
  • HLTAAP001 Recognise healthy body systems
  • HLTAID003 Provide First Aid
  • HLTHPS007 Administer and monitor medications
  • HLTWHS002 Follow safe work practices for direct client care
  • CORPFIN 7101 managerial finance assignment answers

  Australia Universities

  • ACT
  • Australian Catholic University
  • Australian National University
  • Bond University
  • Central Queensland University
  • Charles Darwin University
  • Charles Sturt University
  • Curtin University of Technology
  • Deakin University
  • Edith Cowan University
  • Flinders University
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  • Holmes Institute
  • James Cook University
  • La Trobe University
  • Macquarie University
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  • Queensland University of Technology
  • RMIT University
  • Southern Cross University
  • Swinburne University of Technology
  • University of Adelaide
  • University of Ballarat
  • University of Canberra
  • University of Melbourne
  • University of Newcastle
  • University of New England
  • University of New South Wales
  • University of Notre Dame Australia
  • University of Queensland
  • University of South Australia
  • University of Southern Queensland
  • University of Sydney
  • University of Tasmania
  • University of Technology Sydney
  • University of the Sunshine Coast
  • University of Western Australia
  • University of Wollongong
  • Victoria University
  • Western Sydney University

  Year 11 - 12 Certification Course

  • Australian Capital Territory Year 12 Certificate
  • HSC - Higher School Certificate
  • NTCE - Northern Territory Certificate of Education
  • QCE - Queensland Certificate of Education
  • SACE - South Australian Certificate of Education
  • TCE - Tasmanian Certificate of Education
  • VCE - Victorian Certificate of Education
  • WACE - Western Australia Certificate of Education