ECON1030 Business Statistics ThuFri  PROJECT 代写

ECON1030 Business Statistics ThuFri  PROJECT 代写

Cover sheet for submission of work for assessment

 

School:	Economics, Finance and Marketing
Program Name			Program Code
Course/unit name		Business Statistics 1	Course/unit code	ECON1030

 

Due Date		Name of Lecturer
Tutorial Day/Time		Tutor’s Name

 
STUDENT/S

Family name	Given name	Student number
(1)
(2)
(3)

ECON1030 Business Statistics ThuFri  PROJECT 代写

DECLARATION AND STATEMENT OF AUTHORSHIP
1.        I/we hold a copy of this work which can be produced if the original is lost/damaged.
2.        This work is my/our original work and no part of it has been copied from any other student’s work or from any other source except where due acknowledgement is made.
3.        No part of this work has been written for me/us by any other person except where such collaboration has been authorized by the lecturer/teacher concerned.
4.        I/we have not previously submitted this work for this or any other course/unit.
5.        I/we give permission for this work to be reproduced, communicated, compared and archived for the purpose of detecting plagiarism.
6.        I/we give permission for a copy of  my/our marked work to be retained by the school for review and comparison, including review by external examiners.
I/we understand that:
7.        Plagiarism is the presentation of the work, idea or creation of another person as though it is my/our own.  It is a form of cheating and is a very serious academic offence that may lead to exclusion from the University.  Plagiarised material can be drawn from, and presented in, written, graphic and visual form, including electronic data and oral presentations.  Plagiarism occurs when the origin of the material used is not appropriately cited.
8.        Plagiarism includes the act of assisting or allowing another person to plagiarise or to copy my/our work.
Student signature/s
I/we declare that I/we have read and understood the declaration and statement of authorship.

(1)

(2)

(3)

Further information relating to the penalties for plagiarism, which range from a notation on your student file to expulsion from the University, is contained in Regulation 6.1.1 Student Discipline and the Plagiarism Policy which are available on the Policies and Procedures website at www.rmit.edu.au/policies.

 
ECON 1030 – BUSINESS STATISTICS 1 PROJECT (THURSDAY or FRIDAYTutorial)
 
Instructions:
This is aprojectwhere you can work alone or with two other students (a maximum group size of three). All group members will receive the same marks for the assignment.  All group members must be enrolled in the same tutorial.  The assignment must be provided in the form of a (brief) business reportapproximately. Please see the Project page in Canvas for details on what to include in the business report. You must submit an electroniccopy of your assignment in Canvas.  Hard copies will not be accepted.SHOW YOUR WORK for calculation based questions.
 
This assignment requires the use of Microsoft Excel.  If you have Windows, you will also need to use the Data Analysis ToolPak.  If you have a Mac with Excel 2011, you will need to use StatPlus:MAC LE.
 
Problem Description:
A local used car dealer in Berlin has asked us to evaluate the price of premium vehicles. We have collected data on 1049BMWs listed on a used car website in 2016. They have provided us data on the price of the vehicle and characteristics of the vehicle such as age, kilometres driven, fuel used and the body style.
 
You will use descriptive statistics, inferential statisticsand your knowledge of multiple linearregression to complete this task.
 
Price(Dependent Variable)and several characteristics (Independent Variables) are given in the Excel file: ThuFri.xlsx.  You can find the data that we will use in the project in the “Processed” tab with the definitions of the variables in the “Dictionary” tab.  For reference, we include the full dataset that can be found in the “Original” tab.
 

 
Required:
 
A.    Calculate the descriptive statistics fromthe data and display in a table.  Be sure to comment on the central tendency,variabilityand shape for all of the variables excluding Year, Name and Model.  Include information regarding the quartiles for Price, Kilometers and PowerKW.How would you interpret the mean of dummy variables such as Automatic or Petrol? (1 Mark)
B.     Draw a graph that displays the distribution of Price.  Be sure to comment on the distribution. Does it appear normally distributed? (1 Mark)
C.     Create a box-and-whisker plot for the distribution of Ageand describe the shape.  Is there evidence of outliers in the data? (1 Mark)
D.    What is the probability that we could randomly select a vehicle that is a convertible?What is the likelihood that the age of a convertible exceeds 25 years? Is the age of a vehicle statistically independent of whether they are a convertible?  Use a Contingency Table or Pivot Table to show the relative frequencies of these events. (2 Marks)
E.     Estimate the 95% confidence interval for the population mean price of Hatchbacks.  How does this compare to the 95% confidence interval for the population mean price of Coupes? (1 Mark)
F.      It is traditionally believed that the less than the majority of convertibles in Germany have a manual transmission. Test the claim that the population proportion of Convertibles having a manual transmission is less than 50% at the 5% level of significance. (1 Mark)
G.    Run a multiple linear regression using the data and show the output from Excel.Important: Exclude the dummy variable Coupe from the regression results as well as “Year” “name” and “model”. (1/2 Mark)
H.    Is the coefficient estimate for Agestatistically different than zero at the 5% level of significance?  Set-up the correct hypothesis test using the results found in the table in Part (G) using both the critical value and p-value approach.  Interpret the coefficient estimate of the slope. (2 Marks)
I.       Interpret the remaining slope coefficient estimates.Discuss whether the signs are what you are expecting and explain your reasoning. (2 Marks)
J.       Interpret the value of the Adjusted R².Is there a large difference between the R² and the Adjusted R²? If so, what may explain the reasoning for this? (1/2 Mark)
K.    Is the overall model statistically significant at the 5% level of significance?  Use the p-value approach. (1/2 Mark)
L.     Based on the results of the regressions, what other factors may have influenced the sale price of the used vehicles?  Provide a couple possible examples and indicate their predicted relationship with sales if they were included. (1 Mark)
M.   Predict the average price of a vehicle that is 5 years old, has an automatic transmission, has 75,000 kilometers, uses Petrol, has no damage, has a 110 kw engine, and the body style is a sedan.  Discuss if it is appropriate to do predict under these conditions.  Show the predicted regression equation. (1 Mark)
N.    Do the results suggest that the data satisfy the assumptions of a linear regression: Linearity, Normality of the Errors, and Homoscedasticity of Errors?  Show using scatter diagrams, normal probability plots and/or histograms and Explain. (1 1/2 Marks)
O.    Does this data indicate the true population distribution of vehicle prices of BMWs in Berlin? Explain and if not, describe a sampling procedure that could lead to more accurate results. Would you expect these results to hold for Mercedes as well? (1 Mark)
P.      The car dealer wants to display a random selection of 5 “high performance” vehicles on their website.  They define “high performance” as having an engine exceeding 200kW.  The dealer would generally like a mixture of body styles show up on the website.  What is the probability that of those selected, all 5 vehicles would be sedans?  What is the probability that none would be sedans?  Create this using a Binomial Table and construct a bar chart to show the probability distribution of the number of vehicles that are sedans. (1 Mark)
 

 
Allocation of Marks:
Professional Business Report           2 Marks
Part A                                1 Mark
Part B                                 1 Mark
Part C                                 1 Mark
Part D                                2 Marks
Part E                                 1 Mark
Part F                                 1 Mark
Part G                                1/2 Mark
Part H                                2 Marks
Part I                                  2 Marks
Part J                                  1/2 Mark
Part K                                1/2 Mark
Part L                                 1 Mark
Part M                                1 Mark
Part N                                1 1/2 Marks
Part O                                1 Mark
Part P                                 1 Mark
Total:                                20 Marks


ECON1030 Business Statistics ThuFri  PROJECT 代写