Thesis on "Business Statistics Task 1(A) - Group Spending"
Thesis 4 pages (1009 words) Sources: 2 Style: Harvard
[EXCERPT] . . . .
Business StatisticsTask 1(a) - Group Spending
British
German
French
Italian
Mean
Sample Standard Deviation
Standard Error
Estimate of Mean
Upper Limit
Lower Limit
The French are the largest spenders overall when only considering the average spend per group, even though on average the Italians came to the resort in larger numbers. The British and Germans had the lowest spend per group, but they also visited the resort in lowest group numbers. There was more variation in the amount the French spent, although the lower limit of the mean was still higher than the upper limit of the mean for Britain and German, which indicates that they spent significantly more.
Task 1(b) - Individual Spending
British
German
French
Italian
Mean
Sample Standard Deviation
Standard Error
Estimate of Mean
Upper Limit
Lower Limit
Comments
As expected, French also have the highest spending per person. It is actually the Germans who have the lowest spending per person. The variation here is slightly more consistent, although it would still appear that the French spend significantly more than the Germans and Italians do for each person. They may not spend significantly more than the Br
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Task 1- - Difference in Means of Group Spending
Standard Error
British
German
French
Italian
Z-score
British
German
French
Italian
Comments
From the standard errors alone it would appear that the differences between the means were quite consistent. However this takes into account only the variation and not the mean value. Using the z-score is more accurate as this takes account of variation and mean. Comparing the z-scores in the table shows that there is a significant difference between France and each of the other countries' group spending.
Task 1(d) - Difference in Means of Individual Spending
Standard Error
British
German
French
Italian
Z-score
British
German
French
Italian
Comments
From the standard errors it would seem that there is more variation in the differences between the countries in the individual spending. From the Z. table it is possible to see that there is a significant difference between Britain and Germany and Britain and Italy. There is a less significant difference between Britain and France. There is also a significant difference between France and both Germany and Italy.
Task 1(e) - Regression
British
German
French
Italian
Intercept
Slope
Comments
It seems from these equations that the German spending is impacted most by the number in the group.
Task 1(f) - Correlation
British
German
French
Italian
R2 coefficient
Standard Error of intercept
Standard Error of slope statistic of intercept statistic of slope
Comments
These show that the number in the group and the spending are correlated for all nationalities. The t-statistic of the slope and intercept may be used to find the significance, although this may be read directly from the Excel spreadsheet. This shows that the slope and intercept is significant in each case. Therefore the regression equations produced should be appropriate for prediction of expected spending based on information about group sizes.
Task 1(g) - Estimate for the spending of a family… READ MORE
Quoted Instructions for "Business Statistics Task 1(A) - Group Spending" Assignment:
“Statistics using MS Ex-cel sheet as much as possible:Kindly use data from datasheet 52 0nly.Use of wrong data will lead to zero result awarded.
Last time the mathematician used a wrong datasheet, so results were wrong.
VERY IMPORTANT NOTE:Please use data from datasheet 52 for all calculations and also send me all the Ex-cel sheets used for the calculation.
All calculations should be preferably using MS Ex-cel as maximum as possible.
Go on.Surprise me.
ASSIGNMENT TASKS
Task 1 (70 marks)
From the data supplied calculate the following:
(a) For the group expenditure (total spend) for each nationality:
mean
standard deviation of the sample
standard error
an interval estimate of the population mean
(b) Repeat the above calculations for the individual expenditure (total expenditure for the group divided by the number of people in the group).
(c) Assess the difference in means of the group expenditure for each pair of nationalities.
(d) Repeat the above calculations for the individual expenditure
(e) Calculate a regression equation for numbers in the group against group expenditure for each nationality. Assume that people cause expenditure.
(f) Calculate the r2 for the regression equation and the t-statistic for the intercept and slope coefficient for each nationality.
(g) Estimate the family expenditure of a group of 1 adult and 3 children for each nationality.
(h) Using chi-square assess if there is a difference in opinions on the four different aspects within each nationality.
(i) Using chi-square assess if there is a difference in opinions on the four different aspects between each nationality.
Note: Use a 95% confidence limit throughout. You are to comment on the statistical significance of any results.
TASK 2 (30 marks)
Write a report for Theodoras Spyridos explaining the above results and make any recommendation you think appropriate.
NOTES:
1) This assignment must be your own individual piece of work.
2) The word limit on task 2 is 500 words.
3) Hand in date *****“ 11/08/08 - (before 4.00 pm).
*****
How to Reference "Business Statistics Task 1(A) - Group Spending" Thesis in a Bibliography
“Business Statistics Task 1(A) - Group Spending.” A1-TermPaper.com, 2008, https://www.a1-termpaper.com/topics/essay/business-statistics-task-1/507465. Accessed 6 Oct 2024.
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