Subject Code : HA1011
Assessment Task:
- Applied Quantitative Methods - Business Research - Answer

 

Purpose:
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 problems
2. Identify and evaluate valid statistical techniques in a given scenario to solve business problems
3. Explain and justify the results of a statistical analysis in the context of critical reasoning for a business problem solving
4. Apply statistical knowledge to summarize data graphically and statistically, either manually or via a computer package
5. Justify and interpret statistical/analytical scenarios that best fits business solution.

Question 1  HA1011
Financial analysts reviewing travel and entertainment costs might have the business objective of determining 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 restaurants for the cost of one meal (in $).

 

Tasks:
a. Construct a frequency distribution for both type of restaurants using 10 classes, stating the Frequency, Relative Frequency, Cumulative Relative Frequency and Class Midpoint. (2.5 marks)
b. Using (a), construct a histogram for both types of restaurants.
c. Based upon the raw data, what is the mean, median and mode for both types of restaurants? 

 

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  • Uploaded By : ethan
  • Posted on : November 18th, 2018

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