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TrimesterUnit CodeUnit TitleAssessment TypeAssessment TitleofthePurposeassessment (with ULOMapping)WeightTotal MarksWord limitDue DateSubmissionGuidelinesAssessment Details and Submission GuidelinesT3 2019HAIOIIApplied Quantitative MethodsAssessment 2Group AssignmentStudents are required to show the understanding of the principles and techniques ofbusiness research and statistical analysis taught in the course.40 % of the total assessments40No more than 4000 wordsWeek 10All 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 pagenumbers.Reference sources must be cited in the text of the report, and listed appropriatelyat the end in a reference list using Harvard referencing style.Assignment SpecificationsPurpose:This assignment aims at Understand various qualitative and quantitative research methodologies andtechniques, and Other general purposes are:1.2.3.4.5.Summarise numerical data and present it both by means of tables and chartsBe able to calculate and interpret descriptive summary measuresDevelop simple regression models and interpret the regression coefficientsUnderstand basic probability conceptsUnderstand when to apply different distributions, their properties and how to calculate associatedprobabilitiesAssignment Structure should be as the following:This is an applied assignment. Students have to show that they understand the principles and techniquestaught in this course. Therefore students are expected to show all the workings, and all problems must becompleted in the format taught in class, the lecture notes or prescribed text Any problems not donein 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 theBlackboard.)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 duedates, Assignment Final Submission before the due date.You are required to keep an electronic copy of your submitted assignment to re-submit, in case theoriginal submission is failed and/or you are asked to resubmit.Please check your email prior to reporting your assignment mark regularly for possible communicationsdue to failure in your submission.Important Notice:All assignments submitted undergo plagiarism checking; if found to have cheated, all involving submissionswould receive a mark of zero for this assessment item.HAIOII APPLIED QUANTITATIVE METHODS GROUP ASSIGNMENTPage 4 Of 8Attempt all the questions (5×8 = 40 Marks)question 1Financial analysts reviewing travel and entertainment costs might have the business objective ofdetermining whether meal costs at city restaurants differ from meal costs at suburban restaurants.They collect data from a sample of 50 city restaurants and from a sample of 50 suburban restaurantsfor the cost of one meal (in S).City Restaurant Meal Costs:252851536151612836745166625267Suburban Restaurant Meal Costs:33414555613140283270463730497463278655435047525543454255295156363040514446806040494652604045554942434646424243492736425338544627537932394190463939418055403051903439314889Tasks:a.b.c.Construct a frequency distribution for both type of restaurants using 10 classes, stating theFrequency, Relative Frequency, Cumulative Relative Frequency and Class Midpoint.Using (a), construct a histogram for both types of restaurants.(3 marks)(2 marks)Based upon the raw data, what is the mean, median and mode for types of restaurants?(3 marks)question 2You are the manager of a supermarket and concerned about a forthcoming reduction in the annualadvertising budget proposed by the owner. You manage many products that all require separatemarketing strategies, predominantly supported by advertising. To justify your request for a higheradvertising budget, you collected data on annual sales and annual advertising expenditure.Product Annual Sales ($I(XX))12345150150190130120Annual Advertising Expenditure ($I(XX))606010030206789101112Tasks:a.b.c.d.11016018018015016014020307090403060Is above a population or a sample? Explain the difference.Calculate the standard deviation of the annual sales. Show your workings.Page 5 of 8(2 marks)(2 marks)Calculate the Inter Quartile Range (IQR) of the annual advertising expenditure. When is theIQR more useful than the standard deviation? (Give an example based upon annualadvertising expenditure.)Calculate the correlation coefficient. Interpret the correlation coefficient.(2 marks)(2 marks)Question 3(We are using the same data set we used in Question 2)You are the manager of a supermarket and concerned about a forthcoming reduction in the annualadvertising budget proposed by the owner. You manage many products that all require separatemarketing strategies, predominantly supported by advertising. To justify your request for a higheradvertising budget, you collected data on annual sales and annual advertising expenditure.Product Annual Sales ($1000)123456789101112Tasks:a.b.c.150150190130120110160180180150160140Annual Advertising Expenditure ($1000)6060100302020307090403060Explain how you select dependent variable (Y) and independent variable (X) between annualsales and annual advertising expenditure.(2 marks)Calculate AND interpret the Regression Equation (Interpret slope and intercept). You arewelcome to use Excel to check your calculations, but you must first do them by hand. Showyour workings.Calculate AND interpret the Coefficient of Determination.(3 marks)(3 marks)guesuon 4You are the manager of the Holmes Hounds Big Bash League cricket team. Some of your players arerecruited in-house (that is, from the Holmes students) and some are bribed to come over from otherteams. You have 2 coaches. One believes in scientific training in computerised gyms, and the otherin -grassroots- training such as practising at the local park with the neighbourhood kids or swimmingand surfing at Main Beach for 2 hours in the mornings for fitness. The table below was compiled:Recruited from HolmesstudentsExternal recruitmentTasks (show all your workings):Scientific training1835Grassroots training7212a.b.c.d.What is the probability that a randomly chosen player will be from Holmes OR receivingGrassroots training?(2 marks)What is the probability that a randomly selected player will be External AND be in scientifictraining?(2 marks)Given that a player is from Holmes, what is the probability that he is in scientific training?(2 marks)Is training independent from recruitment? Show your calculations and then explain in yourown words what it means.Question 5(2 marks)You are an investment manager for a hedge fund. There are currently a lot of rumours going aroundabout the -hot- property market on the Gold Coast, and some of your investors want you to set upa fund specialising in Surfers Paradise apartments.Last Saturday you attended an auction to get -a feel- for the local real estate market. You decide itmight be worth further investigating. You ask one of your interns to take a quick sample of 50properties that have been sold during the last few months. Your previous research indicated anaverage price of $0.9 million but the average price of your assistant’s sample was only $850However, the standard deviation for her research was the same as yours at $270 000.Tasks (show your workings):A.B.Since the apartments on Surfers Paradise are a mix of cheap older and more expensive newapartments, you know the distribution is NOT normal. Can you still use a Z-distribution to testyour assistant’s research findings against yours? Why, or why not?(3 marks)You have over 2 000 investors in your fund. You and your assistant phone 35 of them to askif they are willing to invest more than $1 million (each) to the proposed new fund. Only 9 saythat they would, but you need at least 30% of your investors to participate to make the fundprofitable. Based on your sample of 35 investors, what is the probability that 30% of theinvestors would be willing to commit $1 million or more to the fund?(5 marks)

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