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statistics homework

Part I

1. Among the factors (variables) identified by operating director, choose any three (3) factors and describe the data by using appropriate charts. There should be at least one quantitative and one qualitative variable. Explain why you have chosen the charts you used.

2. Calculate and interpret the appropriate measures of location and dispersion for the data for these 3 factors. Are all the variables equally suited for being described by the mean and standard deviation? Explain.

3. Define the probability that a random transaction has a home which is at most 10 years old. From past data, the population mean is 11.88 and population standard deviation is 4.33. Define the probability that the mean age is at most 10 years. Is there a difference between these probabilities? Explain.

(15 marks)

Part II

Use a suitable method to analyse the sales patterns of home surveillance services. You must:

1. State your hypothesis/ses and explain which test(s) you will use to test your hypothesis.

2. Identify the relationship implied by the model you have estimated.

3. Identify and fit a suitable linear regression model to the data.

4. Interpret the relevant statistics from the output generated by your software.

5. Discuss whether the assumptions of the models used are valid for the data.

(20 marks)

Part III

1. Apply a Correlation Analysis between revenues from home surveillance services and air conditioner maintenance services, and give an appropriate assessment of your model. How will this analysis contribute towards the company business decision?

2. Identify any statistical limitations (if any) and give explanations on how they could affect the analysis in Part II.

3. Describe possible improvements which you would recommend in terms of how data may be collected and analysed in any follow-up work.

Part IV

Write a 300-word executive summary for Exeter Home Services Ltd management. The purpose of an executive summary is to provide an overview of your analysis. Interpret and describe your analysis by including the following:

a. Your findings, conclusions, limitations and recommendations.

b. Essential analysis that support your findings, conclusions, limitations and recommendations.

c. A concise description of how your analysis was done.

Part V

Consider the company you are working for, or one you have worked at in the past. Identify the situation that quantitative and qualitative variables were analysed in your past work experience and briefly explain how the analysis was conducted.

Skills: Statistics, Technical Writing

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