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HI6007 Statistics And Research Methods

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Question:

The data for Task 1 in the data file for Assignment represents the starting costs in thousands of dollars) for different kind of business.

  1. 1.  Findmean, median, mode, range, variance and standard deviation separately for every type of business 
  2. 2.  For everybusiness type construct
  3.    frequencyandrelative frequency distributions starting from class 0 to 30
  4. b.  arelative  frequency histogram 
  5. 3.  Discussthe results obtained in parts 1 and 2   
  6. 4.  Testif there significant difference in the starting costs for these types of business.

The data for Task 2 in the data file for Assignment represents the following variables for franchisees of All Greens Pty Ltd: annual sales ($’000), the floor area (sq.ft.’000), inventory ($’000), advertising expenditure ($’000), the size of the area where the business operates (number of families, ‘000) and the number of competitors in the area.

  1. 1.  Present theMS Excel output and write down the estimated regression equation 
  2. 2.  Howwell the model fits the data
  3. 3.  Testthe hypothesis that there is no significant relationship between the dependent and any of the independent variables  
  4. 4.  Interpretindividual slope coefficients 
  5. 5.  Constructa 95% confidence interval for the slope coefficients of individual variables
  6. 6.  Testthe estimated slope coefficients for individual variables for significance
  7. 7.  Removeall insignificant variables and re-estimate the model      
  8. 8.  Usingthe model from part (g), predict annual sales for a franchisee with 1,000 sq ft floor area, $150,000 inventory, $5,000 spent on advertising, 5,000 families in the area of operation and 2 competiton.
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