BUS405 Statistical Methods in Business and Economics
Instruction : Please answer 3 questions, of which Question 1 is compulsory.
All questions carry equal marks. Please do not write over
2000 words for the entire assignment.
- For the following scatter plot, what would be your best estimate of the correlation coefficient?
- Elaborated with examples and supportive references as to how can index numbers be helpful in understanding time-related data?
- Discuss which statistical tests to apply for different types of data and how to interpret the results. Support your answer with suitable examples and supportive references.
- Nonparametric statistical techniques are based on fewer assumptions about the population and the parameters compared to parametric statistical techniques. Discuss this statement with suitable examples and supportive references.