BUS1ABX_2021_SB08_A2

Assessment 2 Research Project BUS1ABX – Analysing Business Data

2 © Didasko 2021. All rights reserved. 2 Content Development Review Academics are required to perform the following checks on the content development plans contained within this document. Please ensure that the plan for content development: 1. is relevant to the subject matter, SILOs and your planned delivery 2. sufficiently covers the breadth of the subject (no missing key topics, concepts or terms) 3. sufficiently covers the depth of the subject appropriate for the year level 4. is well- ordered to support learners’ growing understanding of th e subject, and to match your delivery Declaration I have completed all aspects of the above review. Name: Date: Version number:

4 © Didasko 2021. All rights reserved. 4 Background Assessment type: Project Word count: 1,000 Task weighting: 25% Government website (ABS.gov.au) have been busy surveying both household income and expenditure various state. For every household, the website collected data in 2021 for Annual Income (thousand $) and Annual Expenditure (thousand $), for completeness they also collected data of the state where the household located. ABS have done this because they believe there is a relationship between annual household income and annual household expenditure. Tasks This assessment requires you to analyse and respond to the survey data collected on various suburbs in Melbourne. To help with this, you have been set 7 tasks below. These tasks will help you will collate, organise, analyse and interpret the data provided. To satisfy the task requirements you will use statistical techniques covered within multiple topics of BUS1ABX. Data is provided to you as the file labelled ‘BUS1ABX_A 2_Data ’ . Follow the instructions on the file how to create personalised sample selection for each student. Upload it to the learning portal through the assessment 2 sample submission link (Make sure you save the new spreadsheet by the name BUS1ABX_A2_Data_XXXXX) Utilise submitted data to complete the tasks. A rough template to aid in presenting your analysis is provided to you as the file labelled ‘BUS1ABX_A 2_ Template’ . To do well in this assessment, you must attempt and complete each task. Marks for each task are clearly labelled in the marking rubric below. Be sure to clearly present your answers in the templated space provided within the file ‘ BUS1ABX_A2_ Template’ . Once completed, save your EXCEL file as ‘BUS1ABX_A 2 _xxxx’ (where xxxx is your student number) and upload it to the learning portal through the assessment 2 link.

© Didasko 2021. All rights reserved. 5 Task 1 Using the summary statistics function, provide a table of summary statistics for both (Complete Table 1A and 1B). Interpret the central location and dispersion measures for both variables and compare each variable to the other (Complete textbox 1). Task 2 Using Data analysis tab and/or COUNTIF function, construct a grouped frequency distribution for all variables. (Complete Table 2A, 2B and 2C). Task 3 Create a histogram for annual income and annual expenditure. You may use midpoint values for x axis labels. (Complete Graphs 3A and 3B). For Graph 3B you can use either bar chart / pie chart to display the state of household (Graph 3C) Task 4 Find the mean and standard deviation of annual income and annual expenditure for household in different state? (Complete Table 4a and 4b). Give your answer in textbox 4. Task 5 Based on 90% confidence interval, can we infer that VIC households have annual expenditure higher than $150,000? (Complete Textbox 5a). How your answer change if the population standard deviation ( 𝜎 ) of annual expenditure of VIC household is $75,000? (Complete Textbox 5b). Please clearly explain the steps in the process and justify your answer. Task 6 Is there statistical evidence that NSW household annual income is lower than $200,000? Perform a hypothesis test using at a significance level of 1%. (Complete Textbox 6a). Will you decision change if you use 10% level of significance? Between two different level of significance (1% and 10%), which one of them are more accurate? (Complete Textbox 6b). *Remember to state null and alternative hypotheses. Please also clearly explain the steps in the process and justify your answer. Task 7 Using the regression function in Excel, generate regression output for the data between annual household income and annual household expenditure (complete Table 7) a) Write down the equation for the linear regression (Textbox 7) b) State the value of the slope of the equation correct to three decimal places and interpret this value (Textbox 7). Is this slope value reasonable? c) State the value of the intercept of the equation correct to three decimal places and interpret this value (Textbox 7). Is this intercept value reasonable? d) Based on table 7, do you think annual income is enough factor to predict annual expenditure? What factors that you could better explain the annual expenditure?

© Didasko 2021. All rights reserved. 7 Task 3 • Task not completed or unclearly presented • Task completed • Demonstrates understanding of methods/theory but incorrect answers/conclusions • Task completed • Demonstrates understanding of methods/theory • Mostly correct answers/conclusions • Task completed • Demonstrates understanding of methods/theory • All correct answers/conclusions /10 Task 4 • Task not completed or unclearly presented • Task completed • Demonstrates understanding of methods/theory but incorrect answers/conclusions • Task completed • Demonstrates understanding of methods/theory • Mostly correct answers/conclusions • Task completed • Demonstrates understanding of methods/theory • All correct answers/conclusions /10 Task 5 • Task not completed or unclearly presented • Task completed • Demonstrates understanding of methods/theory but incorrect answers/conclusions • Task completed • Demonstrates understanding of methods/theory • Mostly correct answers/conclusions • Task completed • Demonstrates understanding of methods/theory • All correct answers/conclusions /15 Task 6 • Task not completed or unclearly presented • Task completed • Demonstrates understanding of methods/theory but incorrect answers/conclusions • Task completed • Demonstrates understanding of methods/theory • Mostly correct answers/conclusions • Task completed • Demonstrates understanding of methods/theory • All correct answers/conclusions / 15

8 © Didasko 2021. All rights reserved. 8 Task 7 • Task not completed or unclearly presented • Task completed • Demonstrates understanding of methods/theory but incorrect answers/conclusions • Task completed • Demonstrates understanding of methods/theory • Mostly correct answers/conclusions • Task completed • Demonstrates understanding of methods/theory • All correct answers/conclusions /20 Total Unadjusted /100 Total Adjusted /25