University : Holmes institute Melbourne UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : HI6007
Country : Australia
Assignment Task

 

Unit Learning Outcomes Assessed.:
1.
Understand appropriate business research methodologies and how to apply them to support decision-making process.
2. Understand various qualitative and quantitative research methodologies and techniques.
3. Explain how statistical techniques can solve business problems.
4. Identify and evaluate valid statistical techniques in a given scenario to solve business problems.
5. Explain and justify the results of a statistical analysis in the context of critical reasoning for a business problem solving.
6. Apply statistical knowledge to summarize data graphically and statistically, either manually or via a computer package.
7. Justify and interpret statistical/analytical scenarios that best fits business solution.
8. Explain and justify value and limitations of the statistical techniques to business decision making and.
9. Explain how statistical techniques can be used in research and trade publication.

Question 1

a. With your own words, using relevant examples briefly define types of probability assigning  methods (3 marks) b. Transport trade association conducted a survey of their members to determine what they felt  

were the important issues to be discussed with the management. The survey results showed  that 74% felt that the job security was the important issue, while 65% felt that salary  increment was an important issue. Of those who felt salary increment was an important issue,  60% also felt that job security was an important issue.  

i. What percentage of the members felt that both job security and salary increment  were important? (2 marks) ii. What percentage of the members felt that at least one of these two issues was  important?

Question 2

Annual food consumption survey shows that number of instant food meals consumed per month by  university students is normally distributed with a mean of 10 and a standard deviation of 3.  

a. Calculate the proportion of students consume more than 12 instant meals per month? b. Estimate the probability that in a random sample of 25 students’ more than 275  instant meals are consumed.  

Question 3

D Dax limited installed a new safety equipment in order to reduce the number of person hours lost as  a result of industrial accident. In a test to of the effectiveness of the equipment, a random sample of  50 departments was chosen. The number of person- hours lost in the month prior to and the month  after the installation of the safety equipment was recorded. The percentage change was calculated  and recorded. Assume that the population standard deviation is 5 and sample mean is -1.2. Can we  infer at the 10% significance level that the new safety equipment is effective?  

You are required to  

a. Formulate hypotheses

b. Decide the suitable test statistics and justify your selection. 

c. Calculate the value of the relevant test statistics and identify the P value

d. Based on the test statistics in part (III), decide the decision criteria.

e. Make the final conclusion based on the analysis.

Question 4 

The table below shows data on research to examine the perception of business ethics among 3 groups  of employees (higher score indicates higher ethical values).  

C

6

7

6

5

6

6

6

6

4

5


 

a. State the null and alternative hypothesis for single factor ANOVA to test for any significant  difference in the perception among three groups.

b. State the decision rule at 5% significance level.

c. Calculate the test statistic.

d. Based on the calculated test statistics decide whether any significant difference in the mean  price of gasoline for three bands.

Note: No excel ANOVA output allowed. Students need to show all the steps in calculations.  

Question 5 

Relax mortgage has gathered following data to examine the relationship between housing starts and  mortgage interest rate.  

Interest  rate

3.5 

3.0 

2.8 

3.6 

2.75 

3.4 

3.12 

2.86 

3.02 

2.6 

3.3

Housing  starts

100 

120 

150 

130 

170 

135 

130 

185 

127 

190 

96

 

You are required to:

i. Derive the regression equation

ii. Estimate the no of housing starts if mortgage interest rate is 2.5%

iii. Calculate and interpret the correlation between interest rate and no of  housing starts.

Question 6

D& T LTD marketing team needed more information about the effectiveness of their 3 main mode of  advertising. To determine which type is the most effective, the manager collected one week’s data  from 25 randomly selected stores. For each store, the following variables were recorded: 

Weekly gross sales  

Weekly expenditure on direct mailing (Direct) 

Weekly expenditure on newspaper advertising (Newspaper) 

Weekly expenditure on television commercials (Television)

 

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