The consumption units valuethe value measured for the study here closer
Assignment 2 Statistics and Research Methods for Business Decision Making
Unit Code : HI6007
China has grown into a significant contributor to the exports of Australia in terms of numbers as well as in percentages. The growth levels of India, Korea and Singapore is almost similar. The contribution of United Kingdom has gone down significantly. The case has been same for Japan as well. The contribution of the United States has also seen some significant decline.
| X | Frequency |
|---|---|
| 36 - 45 | 4 |
| 45 - 54 | 3 |
| 54 - 63 | 10 |
| 63 - 72 | 10 |
| 72 - 81 | 6 |
| 81 - 90 | 5 |
| 90 - 99 | 2 |
2.C Histogram
| Frequency | |
|---|---|
| 0.025 | 29 |
| 0.05 | 4 |
| 0.075 | 1 |
| More | 0 |
2.4 Ogive
3. To test whether the per capita retail turnover in Australia is a good predictor of the final consumption expenditure of the country
3.A Frequency distribution
3.C Descriptive Stats
| Final consumption expenditure | |
|---|---|
| Mean | 146019.9 |
| Standard Error | 4098.05 |
| Median | 139137 |
| Mode | #N/A |
| Standard Deviation | 46904.33 |
| Sample Variance | 2.2E+09 |
| Kurtosis | -1.29609 |
| Skewness | 0.306831 |
| Range | 151259 |
| Minimum | 81889 |
| Maximum | 233148 |
| Sum | 19128601 |
| Count | 131 |
| Confidence Level (95.0%) | 8107.503 |
The mean Retail turnover per capita is 2205 and the Final consumption expenditure is 146020. The value is lesser than the median value on both cases. The standard deviation is 46,904 for the final consumption expenditure and it is around 543 for retail turnover per capita.
| SUMMARY OUTPUT | ||||||||
|---|---|---|---|---|---|---|---|---|
| Regression Statistics | ||||||||
| Multiple R | 0.987697 | |||||||
| R Square | 0.975546 | |||||||
| Adjusted R Square | 0.975356 | |||||||
| Standard Error | 85.2727 | |||||||
| Observations | 131 | |||||||
| ANOVA | ||||||||
| df | SS | MS | F | Significance F | ||||
| Regression | 1 | 37419733 | 37419733 | 5146.129 | 7.9E-106 | |||
| Residual | 129 | 938014.9 | 7271.433 | |||||
| Total | 130 | 38357747 | ||||||
| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | |
| Intercept | 535.5266 | 24.44588 | 21.90662 | 2.67E-45 | 487.1599 | 583.8934 | 487.1599 | 583.8934 |
| FINAL CONSUMPTION EXPENDITURE | 0.011438 | 0.000159 | 71.73652 | 7.9E-106 | 0.011123 | 0.011754 | 0.011123 | 0.011754 |
Y (Retail turnover per capita) = X1 * (Final consumption expenditure) + e.
The coefficient value of the Final consumption expenditure is 0.0114. It indicates that for each and every $ spent, the consumption is 0.0114 units.
3.H Testing 5% significance level
The Standard Error for the regression is 85.2727 and the p-value is 0.00. It indicates that the model is a good fit.
