BUS 105 BUSSINESS STATISTICS
“Instructions for Major part of assignment, the word file worth 18% of your final grade you submit to Turnitin. every student has different data set in excel which you have to access with your student id . mine is 12100388
Overview
You need to submit a word file with the answers to 9 questions – the first 8 questions are about the datasets
The last question is a paraphrasing task (refer to page 6)
You will use your datasets and the automatic dataset summarizer to get the descriptive statistics that are used in questions 1 to 5 and the inferential statistics that are used in question 6 to 8.
To check you have correctly obtained your dataset check both p-values are correct when you investigate both categorical variables (question 6 to 8). There are videos on moodle explaining to check you have properly obtained your sample
Use this video to check that you have the correct output for question 1a and 6a and 6c
Use this video to check that you have the correct output for question 2a and 7a and 7c
Use this video to check that you have the correct output for question 3a and 8a and 8c
The total word count can be less than 1500 words if you are giving answers that demonstrate you have understood the material.
Summary of the datasets (questions 1 to 8 are about the datasets)
Dataset 1
Market research company ABC surveyed a group of 100 people
Some people were given the old version of a product and asked “would you buy it”
Some other people were given the new version of a product and asked “would you buy it”
The dataset is the results of the survey
Dataset 2
Market research company DEF surveyed a group of 100 people
Some people were given the old version of a product and asked “How much would you pay ”
Some other people were given the new version of a product and asked “How much would you pay”
The dataset is the results of the survey
Dataset 3
Market research company GHI surveyed a group of 100 people
The survey questions were
1) How much has your weekly income changed because of the Corona virus
2) How much would you pay for the product
Dataset is the questions and answers to the survey above.
Question 1
Paste dataset 1into the dataset summarizer
a) Paste in the descriptive statistics into the word file. The descriptive sample statistics let you investigate the relationship between the variables “Which version?” and “would you buy ?” using the sample
b) Describe the relationship between the variables without using any numbers
c) Describe the relationship between the two variables using one of the following numbers, choose the correct option
· The difference between sample means –
· The difference between sample proportions –
· The correlation coefficient r
Question 2
Paste dataset 2 into the dataset summarizer
a) Paste the descriptive sample statistics into the word file. The descriptive statistics let you investigate the relationship between the variables “which version?” and “How much would you pay?” using the sample
b) Use the output in part (a) to describe the relationship between the two variables, do not use any numbers in your discussion
c) Also describe the relationship by using one of the following numbers, select the correct option
· The difference between sample means –
· The difference between sample proportions –
· The correlation coefficient r
Question 3
Paste dataset 3 into the dataset summarizer
a) Paste in the descriptive statistics and the scatterplot into the word file. The descriptive sample statistics let you investigate the relationship between the variables “Change in income?” and “How much would you pay?” using the sample
b) Describe the relationship between the variables without using any numbers
c) Describe the relationship between the variables using one of the following numbers, select the correct option
· The difference between sample means –
· The difference between sample proportions –
· The correlation coefficient r
d) Write an equation that lets you predict the how much they would pay Y given the change in income X
e) Use the information in part (d) to predict the how much they pay if the change in income is -100
Question 4
Note that you need the output from question 2a to answer this question
a) Just considering the people that have the new version
i) What is the estimate of the population average of the amount they would pay?
ii) What is the standard error of this estimate.
b) Just considering the people that have the old version
i) What is the estimate of the population average of the amount they would pay?
ii) What is the standard error of this estimate.
Question 5
Note that you need the output from question 1a to answer this question
a) Just considering the people that have the new version find a 95% confidence interval for the proportion of people that would buy the product
b) Just considering the people that have the old version find a 95% confidence interval for the proportion of people that would buy the product
Question 6
Paste dataset 1 into the dataset summarizer
a) Paste in the computer output that measures evidence for the claim there is a relationship between the variables “which version?” and “would you buy?” if you consider the whole population
b) Make suitable comments about the output in part (a)
c) paste in the output that gives two cases where each case is a summary that lets you see the relationship between the variable “which version?” and “would you buy?”
d) Consider the two cases in part c) which case would have the lower p value , give a reason for your answer
Question 7
Paste dataset 2 into the dataset summarizer
a) Paste in inferential statistics that measure evidence for the claim there is a relationship between the variables “which version?” and “How much would you pay?” if you consider the whole population
b) Make suitable comments about the output in part (a)
c) paste in the output that gives two cases where each case is a summary that lets you see the relationship between the variable “which version?” and “How much would you pay?”
d) Consider the two cases in part c) which case would have the lower p value , give a reason for your answer
Question 8
Paste dataset 3 into the dataset summarizer
a) Paste in computer output that measure evidence for the claim there is a relationship between the variables “change in income?” and “How much would you pay?” if you consider the whole population
Hint: inferential statistics measure evidence for a claim.
b) Make suitable comments about the output in part (a)
c) paste in the output that gives two cases where each case is a summary that lets you see the relationship between the variable “change in income?” and “how much would you pay?”
d) Consider the two cases in part c) which case would have the lower p value , give a reason for your answer
Question 9
Paraphrase the content of one or more of the videos and explain why statistics is useful in business . A total of 400 words is enough.
What is statistics
