Describe the characteristics of the distribution

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Reference no: EM133877273

Statistics for Managers

PART A
Assume your group is the data analytics team in a renowned Australian company. The company offers its assistance to a distinct group of clients, including (but not limited to) public listed companies, small businesses, and educational institutions. The company has undertaken several data analysis projects, all based on multiple regression analysis. One such project is related to the real estate market in Australia, and the team needs to answer the following research question based on their analysis.

Research question:
How do different factors, such as the size of the land, the number of bedrooms, the distance to the nearest secondary school, and the number of garage spaces, influence the selling price of residential properties?

Data Collection Task

Create a data set (in Excel) that satisfies the following conditions. (You are required to upload the data file separately).
Minimum number of observations - 100 observations.
The data set should be based on houses sold from 01/01/2025 onwards. (To verify the data set, you are required to add a hyperlink to each property's details from the real estate websites that you used.

Questions

Conduct a descriptive statistical analysis in Excel using the data analysis tool. Create a table that includes the following descriptive statistics for each variable in your data set: mean, median, mode, variance, standard deviation, skewness, kurtosis, and coefficient of variation.
Provide a brief commentary on the descriptive statistics you calculated. Describe the characteristics of the distribution for each variable based on these statistics.
Create an appropriate graph to illustrate the distribution of the number of bedrooms in your dataset. (2)
Derive a suitable graph to represent the relationship between the dependent variable and the land size in your data set and comment on the identified relationship.
Based on the data set, perform multiple regression analysis and correlation analysis, and answer the questions given below.

At a 5% significance level, test the overall model significance.
At a 5% significance level, assess the significance of the independent variables in the model.
Perform correlation analysis and based on the correlation coefficients in the correlation output, assess the correlation between explanatory variables and check for the possibility of multicollinearity.

Part B
In Australia many people are involved in multi-jobs to supplement their income. There is an ongoing discussion surrounding workforce development, and the gender-specific challenges in Australia's employment landscape. The phenomenon of multiple jobholders and their supplementary income sources is of major interest to policy makers, employers, and the general public. Hire best assignment help and experienced tutors now!

Using data obtained from the ABS. We will specifically investigate the various issues related to employment in Australia, focusing on employment income between first and second job in Financial and insurance services sector.

Research Question:
What the relationship between first and second job employment income in Australia.

Task
Note: Refer the data given the excel file "HIM6007 T1 2025 Group Assessment-Dataset"

Based on the data set, perform regression analysis, and answer the questions given below.
Derive the simple regression equation.
Interpret the meaning of the coefficients in the regression equation.
Interpret the calculated coefficient of determination.
At a 5% significance level, test the overall model significance.
Select an appropriate analysis to compare Male and Female employment income

PART C
Based on the answers in PART A above, write a summary of your analysis addressing the research question
(100 -150 words).

Based on the answers in PART B above, write a summary of your analysis addressing the research question
(100 words).

Reference no: EM133877273

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