Reference no: EM134034672

Quantitative Analysis - Statistical Analysis Report

Task

This assessment consists of two individual statistical analysis tasks that must be completed outside of class and submitted electronically via MyKBS.

Part 1, due in Week 4 (15%), assesses your understanding of topics covered in Weeks 1 to 3, including data collection and sampling theory, descriptive statistics and visualisation, and probability distributions.

Part 2, due in Week 9 (15%), assesses your understanding of topics covered in Weeks 7 and 8, including hypothesis testing and simple regression analysis.

For each part, you will be required to apply statistical concepts and techniques to business-related scenarios, perform calculations using appropriate methods and Excel functionality where required, and interpret your results using correct statistical terminology. You should present your responses clearly and in your own words, demonstrating both your statistical reasoning and your ability to communicate quantitative findings effectively.

Assessment Description

This assessment is designed to develop your ability to apply statistical concepts and techniques to practical business problems. Throughout the trimester, you will use quantitative methods to analyse data, interpret statistical outputs, and communicate evidence-based conclusions that support business decision-making.

Assessment 1 is completed in two parts and progressively builds the knowledge and skills developed throughout the subject. In Part 1, you will apply concepts related to sampling methods, descriptive statistics, data visualisation, and probability distributions. In Part 2, you will extend these skills by applying hypothesis testing and simple linear regression techniques to analyse and interpret business data.

Successful completion of this assessment requires you to demonstrate both technical competence and statistical reasoning. In addition to performing calculations and producing statistical outputs, you are expected to interpret results in context, justify your conclusions, and communicate your findings using appropriate statistical terminology and notation.

This assessment supports the development of the subject learning outcomes by providing opportunities to model and interpret data, apply statistical methods to real-world business scenarios, and communicate quantitative insights effectively.

Assessment Instructions

Assessment 1 consists of two individual assessment tasks that must be completed and submitted separately via MyKBS. Each task assesses different statistical concepts and skills developed throughout the subject. Students are expected to complete all calculations, analyses and interpretations independently and present their responses clearly using appropriate statistical terminology and notation.

Part 1: Statistical Analysis and Interpretation

Part 1 assesses the content covered in the first three weeks of the subject.

For this assessment, you will be required to analyse a business scenario and complete a range of statistical tasks related to sampling, descriptive statistics and probability.

Depending on the business scenario provided, your submission may require you to:

Sampling and Data Collection

Identify and justify an appropriate sampling method.
Identify potential sources of bias that may affect the data collection process.
Recommend and justify an alternative sampling method.

Descriptive Statistics and Visualisation

Calculate descriptive statistics using Excel, including measures of centre and spread.
Interpret descriptive statistics in the context of the business scenario.
Construct frequency tables using Excel.
Create and appropriately label statistical charts and visualisations.
Analyse the distribution of the data, including shape, centre, spread and potential outliers.

Probability and Probability Distributions

Construct probability distribution tables.
Calculate expected values and measures of variability using Excel.
Interpret probability-based results in the context of the business problem.

Students should support their responses with appropriate calculations, Excel outputs, statistical notation and written interpretations where required.

Part 2: Hypothesis Testing and Regression Analysis

Part 2 assesses the content covered in Weeks 7 and 8 of the subject.

For this assessment, you will be required to analyse a business scenario and apply inferential statistical techniques to investigate relationships within data and draw evidence-based conclusions.

Depending on the business scenario provided, your submission may require you to:

Hypothesis Testing

Formulate null and alternative hypotheses using appropriate statistical notation.
Assess whether the assumptions and conditions required for the selected hypothesis test have been satisfied.
Determine critical values, rejection regions and/or p-values where appropriate.
Calculate and interpret test statistics using Excel.
Draw conclusions and make decisions based on statistical evidence.
Explain the meaning of potential Type I and Type II errors in the context of the scenario.

Regression Analysis

Generate regression outputs using Excel.
Produce and interpret relevant graphical outputs, including scatterplots and diagnostic plots.
Assess the assumptions of a linear regression model.
Interpret regression coefficients and model outputs.
Use the regression model to make predictions.
Evaluate the reliability and practical usefulness of predictions and model results.

Students should support their responses with appropriate calculations, Excel outputs, statistical notation and written interpretations where required.