Learning Outcomes

a) Analyse and present data graphically using spreadsheet software (Excel).

b) Critically evaluate summary statistics against suitable benchmarks.

c) Apply judgment to select appropriate methods of data analysis drawing on knowledge of regression analysis, probability, probability distributions and sampling distributions.

d) Select and apply a range of data analysis tools to inform problem solving and decision making.

e) Conduct quantitative research both individually and as part of a team and articulate and present findings to a wide range of stakeholders, from accounting and non- accounting backgrounds.

Context:

The main aims to develop students' competency in statistical literacy for decision making in the local and global business environment. It reviews statistical techniques for the quantitative evaluation of data in Financial applications. Students will develop analytical and statistical skills to enable them to transform data into meaningful information for the purpose of decision making.

Objectives:

- To more broadly understand the statistical literacy for decision making.
- Interpret statistical results and communicate their statistical analysis in business reports.

Instructions:
This group assignment requires your team to apply statistical knowledge and skills learned from STAT6003 lectures between week 1 to 8.
- Each assignment group will comprise no more than 4 members. Each team member is expected to work collaboratively with one another and contribute their fair share of effort in completing this group assignment. Team members must be from the same tutorial group. It is important that there is coordination among team members to ensure this assignment is duly completed.
- Please use Excel for statistical analysis in this group assignment. Relevant Excel statistical output must be properly analysed and interpreted.
- Please provide a number for every table, graph or figure used and make clear reference to the table/graph/figure in your discussion.
- The word limit for this group assignment is 1,000 words (excluding Excel output) in the report format.
- Your findings are to be presented within 15 mins time limit. Each member of the group is expected to be engaged in the presentation.
- The presentations will be conducted in class in weeks 9 and 10 as directed by your facilitator.

Assignment tasks:

The variables for this assignment are as follows: House Price Index (a)(b): Brisbane, Sydney and Melbourne, 2002-03 to 2016-17.

V1) Financial year
V2) Capital city Brisbane Index V3) Capital city Brisbane Annual % change
V4) Capital city Sydney Index
V5) Capital city Sydney Annual % change V6) Capital city Melbourne Index
V7) Capital city Melbourne Annual % change

1) Module 1 topic - Descriptive Statistics
Present V2, V4 and V6 variables using the following descriptive statistics* and compare them across these cities:

2) Module 4 topic - Estimation

2a) Construct a confidence interval to estimate the population mean at 95% confidence interval for these cities for V2, V4 and V6 variables. Interpret each confidence interval in context and make a comparison across cities in your analysis.

3) Module 4 - Hypothesis Tests

- Requirements for each hypothesis test:
- Formulate the null and alternative hypotheses.
- State your statistical decision using significant value (??) of 5% for each test.
- State your conclusion in context.
- Perform a one-sample test for each city:

Perform independent samples test for each pair of cities:

Attachment:- Data Set.rar