The broad context of the above data set is “electricity pricing”, so you can go searching for scholarly papers about electricity prices and what makes those prices go up and down. You can do further searches about Variable 1, 2, 3, 4 and 5. Take detailed notes on your readings. Make sure youreference each statement to the correct source. Make sure you use correct APA style (and note that I have given clear and easy instructions on how to do this on the Moodle site…many of you have ignored this.
Create a research question about two or more of the variables.If I were you I would pick a research question that has been talked about in the scholarly literature.If there is a lot of literature that talks about how Variable 1 impacts on Variable 2, then that will probably be a good research question to explore with your data set. If you want to create a slightly more interesting research project you could say that “Variable 1 impacts on Variable 2, particularly in cases where there is a high level of Variable 3.” If you do that, you may even be working in what is called a research gap, which is a place where other scholars have NOT yet explored.
You should do some basic reading on statistics, so you can pick your correct statistical tool. There are some online statistical tools at this site that are really good. if you click on “Go here for the help page index” and then click on the various procedures, you can get nice simple explanations of each statistical procedure and then do the calculations on line.The ones you will likely need are either T-Test, One-way ANOVA, Correlations/regressions/ and under the set called “descriptives”. In all cases you should probably report in your results section on descriptives. It’s always a good practice.
As you can imagine, this is not so easy. Have a look at the News Forum site at the section called “Sample Assignment for Assignment 2 plus some news”. This will give you an idea of what to aim for… You don’t need to do as well as this student of course, but you can do quite well by following the above basic steps and also focusing on the material I have given in the ‘feedforward’ pdf document I uploaded earlier today on the News Forum site. Please do take time to read it carefully.
It’s VERY important if you want to get a high enough mark in order to say get a ‘credit’ or ‘distinction’ in this second assignment—and that is what many of you will have to aim for in order to get a ‘pass’ for this unit overall.