Estimate the proportion of all businesses in our region

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Reference no: EM132300640 , Length: word count:2000

Foundation Skills in Data Analysis Assignment - Regional Business Confidence

This assignment assesses the following Graduate Learning Outcomes and related Unit Learning Outcomes:

Graduate Learning Outcome (GLO) -

  • Critical thinking: evaluating information using critical and analytical thinking and judgment.

Unit Learning Outcome (ULO)

  • Manipulate and summarise data that accurately represents real world problems.
  • Interpret and appraise statistical output to assist in real-world decision making.

Overview - The purpose of this assignment is to investigate a dataset which will enable you to answer questions posed in an email. In order to answer the questions posed in the email, you will need to analyse data, interpret the results, and then draw appropriate conclusions.

The aims of the assignment are to:

  • provide you with some examples of the application of data analysis
  • test your understanding of the material presented in the relevant topics
  • test your ability to analyse data and interpret your results
  • test your ability to effectively communicate your results to others

Before attempting the assignment, make sure you have prepared yourself well. At a minimum, please read the relevant sections of the prescribed textbook and review the materials provided in Modules 1 and 2.

Scenario -

You are Nick Black, a specialist analyst for Business Intelligence (BI). BI are data analytics research service consultants that provide data modelling solutions to large organisations and governments, as well as supporting various niche research projects across a variety of industry sectors. Australian rural communities make a considerable contribution to the Australian economy yet very little research has been done on the specific business communities that support the rural sector. For example, little is known about the market place confidence and expectation of businesses that exist in the townships that support these rural communities.

BI has been contracted because some rural municipal authorities have identified a need to focus expenditure and related activities to assist in business growth. One such municipal authority is the Ballarat City Council. In an effort to understand the marketplace confidence of the Ballarat businesses that support their local community, BI has taken a random sample of 150 businesses in the region. As well as asking them for useful demographic characteristics, BI have asked questions about trading patterns, business confidence and business expectations. You have received an email from the Ballarat City Council that contains specific questions that you must answer.

1. Can you provide an overview of the number of people that local businesses employ in our region?

2. Can you estimate the proportion of all businesses in our region that do have a growth strategy?

3. The Creswick/Clunes Chamber of Commerce recently indicated that the proportion of businesses registered in their region that do have a growth strategy was 76%. They then went on to suggest in a confidential report that any proportion less than this value contributed to a significant reduction in the revenue generated in the region.

a. Is there any evidence to suggest that the proportion of our local businesses that do have a growth strategy could be less than this suggested figure and thus impacting on revenue in our region?

b. Can you estimate the average number of staff for businesses with and without a growth strategy and can we therefore conclude that businesses with a growth strategy have a higher number of employees on average, and might therefore be more successful?

4. I have been told that our local business managers are rather young. This seems at odds with a recent report that stated the average age of managers in Australian businesses was 50 years of age. Can you please determine if the average age of our local business managers is indeed less than 50 years?

5. Over the years we have observed that an average of 10 businesses open each year. What is the likelihood that next year:

a. More than 15 businesses will open?

b. The number of businesses that open will be 5 or less?

6. Finally, when we conduct this survey again next year, we would like to be able to:

a. Estimate the average number of people that local business employ to within 4 employees, and,

b. Estimate the percentage of business with a growth strategy to within 2%.

Are you able to advise us on the sample size required that satisfies both these criteria?

Your written response should be no longer 2,000 words (the approximate equivalent). Do not include a Table of Contents, Charts and Tables, nor Appendices in your written response.

Attachment:- Assignment File.rar

Reference no: EM132300640

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Reviews

len2300640

5/7/2019 4:14:18 AM

A 2,000 word or approximate equivalent equates to 2 files that you will submit: The (summary Excel) output you generate, which is to be placed ONLY in the Data Analysis file you submit, AND a Word document file response, which should be NO MORE than two pages. Submission Files: Two files. One Excel (.xlsx) file with the results of your analysis. One Word (.docx) file (no more than 2 pages) with your written responses to each question. Note: This assignment is to be completed individually.

len2300640

5/7/2019 4:14:12 AM

Guidelines for Data Analysis - The analysis required for this assignment involves materials covered in Modules 1 and 2. The corresponding seminars will also provide useful materials. Note that many variables included in the data set are represented using both numbers and text. For all questions in the email, you can assume that: a 95% confidence level is appropriate for confidence intervals and a 5% level of significance (that is, alpha = 0.05) is appropriate for hypothesis tests. Although questions can be completed using Excel (for example using the templates presented in the MSXL worksheets in your tutorials), we strongly recommend that you do the analysis using a pen and paper approach too, as this will help you confirm your results and give you greater insight into the examination. Before doing any analysis, classify your data as numerical or categorical.

len2300640

5/7/2019 4:14:06 AM

Most questions will require you to complete either a confidence interval or a hypothesis test. Go through each of the questions asked by the Ballarat City Council and decide which technique is the most appropriate. Below are some hints regarding the most appropriate technique: Do we have to make an estimate, and therefore need a confidence interval? Are we testing a theory or claim, and therefore need an hypothesis test? To answer some questions you may need to make certain assumptions about the dataset we are using. For Question 5, you will need to calculate the probability using an appropriate probability distribution table. You could then use Excel to confirm your answer. You do not need the MIS770 A2 Business Confidence Data.xlsx dataset to answer this question.

len2300640

5/7/2019 4:13:58 AM

You written response requirements - Your written response should be no longer 2,000 words (the approximate equivalent). Do not include a Table of Contents, Charts and Tables, nor Appendices in your written response. Suggested Word formatting for the Memorandum: Single-line spacing; no smaller that 10-point font; page margins approx. 25mm, and good use of white space. Your written response must have a cover sheet containing your particulars and Unit details. Set out your written response in the same order as in the originating email from Nick Black, with each section (question) clearly marked. There is NO MINIMUM word count.

len2300640

5/7/2019 4:13:52 AM

Use plain language and keep your explanations simple, clear and succinct. Avoid the use of technical or statistical jargon. As a guide to the meaning of “Plain Language”, imagine you are explaining your findings to a person without any analytical training (e.g. someone who has not studied this unit). What type of language would you use in this case? Marks will be lost from your written response if you use technical terms, poor grammar, present irrelevant material, or have poor presentation/organisation. In your written response, you should use key summary measures to make your conclusions, however, do not refer your reader to the diagrams that your .xlsx file contains. That is, your written response needs to be a stand-alone document. All Microsoft Excel output associated with each question in your written response is to be placed in the corresponding spreadsheets (Q1, Q2 … etc) in your submitted Microsoft .xlsx file.

len2300640

5/7/2019 4:13:46 AM

Submission - Your completed assignment should be submitted in two separate files: FILE 1: Data Analysis. An Excel document (i.e. the MIS770 A2 Data.xlsx file you used) containing separate tabs/worksheets with charts/tables/graphs for each question. Please note that all interpretations should be presented in your “Memorandum” and the Excel document should only contain your intermediate analysis and final output. FILE 2: Memorandum. A Word document of no more than 2 pages which does not contain, nor specifically refer to, any of the charts/tables/graphs presented in your analysis. Please name your Word document yourstudentid.docx and the Data Analysis file yourstudentid.xlsx. Note: The Cloud Unit site is the ONLY method of submission acceptable.

len2300640

5/7/2019 4:13:40 AM

Penalties for late submission: The following marking penalties will apply if you submit an assessment task after the due date, without an approved extension. Five percent (5%) will be deducted from the available marks for each day (or part thereof) for up to five days, and work that is submitted more than five days after the due date will not be marked and you would receive 0% for this assessment. As this assignment is worth 30 marks (i.e. 30% of your overall mark), each day late, or part of a day, will mean a loss of 1.5 marks. 'Day' means calendar day for electronic submissions. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date.

len2300640

5/7/2019 4:13:34 AM

Marking Rubric - Part A: Data Analysis (Marks: 19) This part relates to the various aspects of data analysis. Skillful and comprehensive analysis of data using many different techniques. Uses data visualisations where appropriate to produce novel insights. Analysis and written responses are of an exemplary overall standard. Part B: Memorandum (Marks: 11) This part relates to an ability to succinctly and plainly describe what has been analysed. Provides the precise conclusions sought. Summary information is presented corresponding sequentially and correctly to each question and assignment instruction. The written communication is very professional, logical and easy to follow.

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