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. Findmean, median, mode, range, variance and standard deviation separately for every type of business
- 2. For everybusiness type construct
- frequencyandrelative frequency distributions starting from class 0 to 30
- b. arelative frequency histogram
- 3. Discussthe results obtained in parts 1 and 2
- 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. Present theMS Excel output and write down the estimated regression equation
- 2. Howwell the model fits the data
- 3. Testthe hypothesis that there is no significant relationship between the dependent and any of the independent variables
- 4. Interpretindividual slope coefficients
- 5. Constructa 95% confidence interval for the slope coefficients of individual variables
- 6. Testthe estimated slope coefficients for individual variables for significance
- 7. Removeall insignificant variables and re-estimate the model
- 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.