Bus5Sbf Statistics For Business And Assessment Answers

A) Collecting, manipulating and preparing data for statistical inference(Includes where necessary,
creating graphs, charts, tables
manipulating data in Excel, using appropriate formulas and functions)
Complete and accurate. Data organised optimally, appropriate visualisation and organisation tools used.
Data complete and accurate. Some manipulation and visualisation can be improved.
Data mostly complete and accurate - key aspects done correctly. 
Data manipulation and visualisation can be improved.

Answer:

Task 1

Part A

Part C

Part D

From the box and whisker plot in figure 1, it can be seen that, the annual expenditure on alcohol is most variable followed by phone, fuel and meals. It can also be seen that the minimum household expenditure on alcohol is zero. Thus, there are families who do not consume alcohol. From the descriptive statistics, it can be seen that the mean of all the four variables are greater than the median, which is again greater than the mode. Thus, the distributions of the expenses are negatively skewed. This means that more families spend high on the consumption of these four variables such as alcohol, meals, fuel and phone.

Task 2

Part A

Part B

• The percentage of households that spend on utilities at the most $ 1200 per annum is 68 percent.
• The percentage of households that spend on utilities between $1200 and $ 2400 per annum is (17.5 + 6.5 + 4) % = 28 percent.
• The percentage of households that spend on utilities more than $ 2400 is (1.5 + 1 + 1.5) = 4 percent.

Part C

Task 3

The mean of the variable OwnHouse is found to be 0.67. The variable OwnHouse contains two values 0 and 1. Here, 0 implies that the household does not own a house and 1 indicates that the household owns a house. The mean is found to be greater than 0.5. Thus it can be said that most of the households own a house.

Part C

Task 4

From the table, it can be seen that the number of males undergoing higher level of education is (21 + 15) = 36 and the number of women undergoing higher level of education is (12+26) = 38. These two values are more or less equal and thus can be said that male and female heads of the households do not differ in their higher level of qualification. In this case higher level of qualification has been considered as bachelor’s degree and master’s degree.

Part B

The probability that the head of the household is a female and her higher level of education is intermediate is (26/200) = 0.13.

Part C

Part D

Part E

References

Carlberg, C. (2014). Statistical analysis: microsoft excel 2013. Que Publishing.

De Finetti, B. (2017). Theory of probability: A critical introductory treatment(Vol. 6). John Wiley & Sons.

Triola, M. F. (2013). Elementary statistics using Excel. Pearson.