Statistics for Business

Statistics for Business

Comments Off on Statistics for Business

STT100 Statistics for Business

INDIVIDUAL ASSIGNMENT: THIS IS WHERE YOU CAN SOURCE YOUR DATA

 

25%

 

  

DUE DATE

Mid-Night

 

Sunday

 22nd May

 

2022

  

Maximum 1500 Words

 

Assessment: Statistical Research Project involving Hypothesis Testing

STEP 1.

  1. Select your data.
  2. Paste your data into:

http://www.calculatorsoup.com/calculators/statistics/descriptivestatistics.php

 

Select one of the areas of investigation BELOW. Alternatively, choose one of your own.

SELECT ONE of the following: Select either 1. , 2. , 3., 4. Or 5 Or a dataset of your own choice

  1. (The Average Age of ALL People in Different Countries.
  2. Use the following link: https://en.wikipedia.org/wiki/List_of_countries_by_median_age
  3. See also the attached “Dataset List of countries by median age”
  4. Copy from the excel file the column “Median years” and past it into the following online Statistical tool to calculate the mean and standard deviation of the median ages of all countries;

http://www.calculatorsoup.com/calculators/statistics/descriptivestatistics.php

Your result will look like this (with different numbers):..you will need the mean and standard deviation to complete the test statistic see later)

  1. Select a country with a median age

either much HIGHER or Much Lower than

the average.

NOTE: in the most important part of the

 assignment you will need to research

WHY, this countries, median age is

significantly different to the average

AND you will also need to research

the CONSEQUENCES of this difference.

 

 

 

 

 

  1. The Obesity Rate of People in Different Countries, using list of countries by Body Mass Index.

 

  1. You must first define body mass index and explain how it is used to measure obesity.
  2. Use the following link: https://en.wikipedia.org/wiki/List_of_countries_by_body_mass_index
  3. See also the attached “Dataset List of countries by BMI”
  4. Copy from the excel file the column “Overall rank” and past it into the following online Statistical tool to calculate the mean and standard deviation of the median ages of all countries;

http://www.calculatorsoup.com/calculators/statistics/descriptivestatistics.php

Your result will look like this (with different numbers):..you will need the mean and standard deviation to complete the test statistic (see later)

  1. Select a country with a BMI

either much HIGHER or Much Lower than

the average.

NOTE: in the most important part of the

 assignment you will need to research

WHY, this country’s (or this group of countries),

BMI is

significantly different to the average

AND you will also need to research

the CONSEQUENCES of this difference.

 

  1. The Boy births as a ratio of boy/girl births in Different Countries, using list of countries by Sex Selection.
  2. You must first define what the sex ratio indicates.
  3. Use the following link: https://en.wikipedia.org/wiki/List_of_countries_by_sex_ratio
  4. See also the attached “Dataset List of countries by sex ratio”
  5. Copy from the excel file the column “countries by sex ratio AT BIRTH” and past it into the following online Statistical tool to calculate the mean and standard deviation of the median ages of all countries;

http://www.calculatorsoup.com/calculators/statistics/descriptivestatistics.php

Your result will look like this (with different numbers):..you will need the mean and standard deviation to complete the test statistic (see later)

  1. Select a country with a SEX RATIO

either much HIGHER or Much Lower than

the average.

NOTE: in the most important part of the

 assignment you will need to research

WHY, this country’s (or this group of countries),

SEX RATIO is

significantly different to the average

AND you will also need to research

the CONSEQUENCES of this difference.

A good choice here would be China.

 

 

 

 

 

 

 

 

 

 

 

  1. The ratio of males to females in the workforce in Different Countries.
  2. You must first define what the male to female ratios in the workforce means.
  3. Use the following link: http://hdr.undp.org/en/content/labour-force-participation-rate-female-male-ratio

 

  1. See also the attached “Dataset List of males to female ratio in the workforce”
  2. Copy from the excel file the column “2012” and past it into the following online Statistical tool to calculate the mean and standard deviation of the median ages of all countries;

http://www.calculatorsoup.com/calculators/statistics/descriptivestatistics.php

Your result will look like this (with different numbers):..you will need the mean and standard deviation to complete the test statistic (see later)

Select a country with  A male to female

 RATIO in the workforce

either much HIGHER or Much Lower than

the average.

NOTE: in the most important part of the

 assignment you will need to research

WHY, this country’s (or this group of countries),

Male to female RATIO is

significantly different to the average

AND you will also need to research

the CONSEQUENCES of this difference.

 

 

 

 

 

 

 

 

 

 

 

 

  1. The Literacy rates in Different Countries.
  2. You must first define what is meant by literacy rates.
  3. Use the following link: https://en.wikipedia.org/wiki/List_of_countries_by_literacy_rate

 

  1. See also the attached “Dataset List of literacy rates in different countries”
  2. Copy from the excel file the column “Youth rates” and paste it into the following online Statistical tool to calculate the mean and standard deviation of the median ages of all countries;

http://www.calculatorsoup.com/calculators/statistics/descriptivestatistics.php

Your result will look like this (with different numbers):..you will need the mean and standard deviation to complete the test statistic (see later)

Select a country with a literacy rate

either much HIGHER or Much Lower than

the average.

NOTE: in the most important part of the

 assignment you will need to research

WHY, this country’s (or this group of countries),

Literacy rat is

significantly different to the average

AND you will also need to research

the CONSEQUENCES of this difference.

 

 

 

 

 

 

 

  1. Potential other:
  • Average life expectancy in different countries

https://en.wikipedia.org/wiki/List_of_countries_by_life_expectancy

  • Average income per person in different countries

https://www.worlddata.info/average-income.php

  • Average internet speed in different countries

https://en.wikipedia.org/wiki/List_of_countries_by_Internet_connection_speeds

  • Average number of people per doctor in different countries

            https://data.worldbank.org/indicator/SH.MED.PHYS.ZS

YOU CAN SELECT YOUR OWN DATA

  • Cars per head of population
  • Rain in Sydney – is 2022 significantly higher rainfall

 

 

STEP 2.

Conduct a Hypothesis test using the following STEPS:

  • State the Null hypothesis (Ho) and the Alternative hypothesis (HA).
  • Choose the level of significance.
  • Find the critical value.
  • Find the test statistic.
1. The null hypothesis Ho   is what you believe to be true and is always Ho = the population average or proportion

Eg That the sample mean from your experiment is equal to the population mean That means the two are the same.

In this case the sample proportion will be the same as the population proportion…NOTE we have rigid this not to be the case

The alternative hypothesis is what you claim to be or believe to be, Ha  or H1.

The null hypothesis can be:

Ha ≠ 0

Ha > 0… this is a one tail test

You do this using the appropriate formula.

 

 

 

 

 

 

In this case the sample proportion will NOT be the same as the population proportion…NOTE we have rigid this to be the case

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Z =

You can use this, formatted formulae, to copy and paste and then insert your numbers to do the calculation of the test statistic unique to your study:

 

 

 

 

USE THE FOLLOWING FORMULAE TO CALCULATE THE TEST STATYISTIC fort Case 1  Average Age of the Population

 

You can use this, formatted formulae, to copy and paste and then insert your numbers to insert your numbers to do the calculation of the test statistic unique to your study:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STEP 3.

Draw a STATISTICAL CONCLUSIONS.

What does your result indicate?

DO YOU REJECT OR ACCEPT THE NULL HYPOTHESIS that your sample is either significantly different to the population or, not.  NOTE: Generally you will have selected a sample that IS significantly different.

How to draw statistical conclusions

If it is different then you reject the NULL hypothesis and accept the alternative hypothesis. THIS WORDING IS IMPORTANT.

 

 

 

 

 

 

 

 

 

 

 

STEP 4.

Draw a ANALYTICAL CONCLUSIONS.

This is the part of the assignment is where you will gain the most marks. Your, answer to this part will determine your MARK overall.

You must use referenced research to find out details about:

  • WHY the country that you have considered is different to the world average. What are the special reasons for this?
  • What are the consequences and effects and costs (or benefits) for this country in having this difference?
  • What government or social policies might be used to correct this difference or to benefit from this difference? Consider what other countries have done.
  • What other changes might this difference cause or what other changes might correct this difference? Why might it restrict this countries development. What special features of this country may form barriers to correcting this problem?
  • Use graphs facts and other statistics to illustrate and extend your answer.