52898 – Assessment Details and Submission GuidelinesTrimester | NO PLAGIARISM
Assessment Details and Submission GuidelinesTrimester T3 2019Unit Code HI6007Unit Title Statistics and Research Methods for Business Decision MakingAssessment Type Assessment 2Assessment Title Group AssignmentPurpose of theassessment (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.Weight 40 % of the total assessmentsTotal Marks 40Word limit N/ADue Date Lecture 10Submission Guidelines • All work must be submitted on Blackboard by the due date along with a completedAssignment Cover Page.• The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cmmargins 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 appropriatelyat the end in a reference list using Harvard referencing style.HI6007 STATISTICS FOR BUSINESS DECISIONS GROUP ASSIGNMENTPage 3 of 7Assignment SpecificationsPurpose: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 problems2. Identify and evaluate valid statistical techniques in a given scenario to solve business problems3. Explain and justify the results of a statistical analysis in the context of critical reasoning for a business problem solving4. Apply statistical knowledge to summarize data graphically and statistically, either manually or via a computer package5. Justify and interpret statistical/analytical scenarios that best fits business solutionAssignment 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 correctness 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 involvingsubmissions would receive a mark of zero for this assessment item.Page 4 of 7Question 1Australian food and fibre exports have been on the increase for decades. Among the six Australian states, Victoria leads food and fibre exports. The following table lists the value of food and fibre 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, answerthe questions below. (6 Marks)(a) Use an appropriate graphical technique to compare the amount of food and fibre exports (in millions of dollars) in 2010 and 2015, broken down by the Australian states. (2 marks)(b) Use an appropriate graphical technique to compare the percentage value of the amount of food and fibre exports (in %) in 2010 and 2015, broken down by the Australian states. (2 marks)(c) Comment your observations in parts (a) and (b). (2 marks)Question 2.The numbers of weekly sales calls by a sample of 40 telemarketers were recorded in the table below.(10 Marks)14 8 6 12 21 4 9 0 25 179 5 8 18 16 3 17 19 10 155 20 17 14 19 7 10 15 10 828 31 27 30 2 17 26 11 29 19a. Construct a frequency distribution and a relative frequency distribution for the data. (2 marks)b. Construct a cumulative frequency distribution and a cumulative relative frequencydistribution for the data. (2 marks)c. Plot a relative frequency histogram for the data. (2 marks)d. Construct an ogive for the data. (2 marks)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 questionsClasses Frequency RelativeFrequency CumulativeFrequency CumulativeRelativeFrequency0 – 45 – 910 – 1415 – 1920 – 2424 – 2930 – 34HI6007 STATISTICS FOR BUSINESS DECISIONSQuestion 3. (24 Marks)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 thetwo variables. (2 marks)b. 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 V axes and why?(3 marks)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.(4 marks)d. Calculate the coefficient of correlation (r) between RATE OFINFLATION 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. (5 marks)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 error of the estimate (se). Then, comment on the fitness ofthe linear regression model? (2 marks)HI6007 STATISTICS FOR BUSINESS DECISIONSPage 6 of 7Marking criteriaMarking criteria Weighting1. Australian Food and Fibre Export analysis:a) Appropriate graphical technique for comparing the valuesb) Appropriate graphical technique for comparing the percentage valuesc) Comparing a and b 6 marks2 marks 2 marks2 marks2. Analysis of number of sales calls:a) Appropriate frequency distributionb) Appropriate cumulative frequency distributionc) Histogramd) Ogivee) and f) Proportion 10 marks2 marks 2 marks 2 marks 2 marks 2 marks3. Estimation and testing significance level:a) Descriptive measureb) Scatter plotc) Numerical summary reportd) Correlation coefficiente) Estimating regression linef) Estimating coefficient of determinationg) Testing significanceh) Standard error 24 marks2 marks3 marks4 marks 2 marks5 marks 2 marks 4 marks 2 marksTOTAL Weight 40%Assessment Feedback to the Student:HI6007 STATISTICS FOR BUSINESS DECISIONSPage 7 of 7Marking RubricExcellent Very Good Good Satisfactory UnsatisfactoryAustralian Foodand Fibre Exportanalysis Demonstration of outstanding knowledge on descriptive techniques Demonstration of very good knowledge on descriptive techniques Demonstration of good knowledge on descriptive techniques Demonstration of basic knowledge on descriptive techniques Demonstration of poor knowledge on descriptive techniquesAnalysis ofnumber of salescalls Demonstration of outstanding knowledge on descriptive measures Demonstration of very good knowledge on descriptive measures Demonstration of good knowledge on descriptive measures Demonstration of basic knowledge on descriptive measures Demonstration of poor knowledge on descriptive measuresEstimation andtesting significancelevel Demonstration of outstanding knowledge on correlation and regression analysis Demonstration of very good knowledge on correlation and regression analysis Demonstration of good knowledge on correlation and regression analysis Demonstration of basic knowledge on correlation and regression analysis Demonstration of poor knowledge on correlation and regression analysis
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