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QAB105 Quantitative Analysis For Business

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  • Course Code: QAB105
  • University: Charles Darwin University

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Question:

Income can have significant effects on people’s spending patterns. Research studies have revealed that consumer expenditure is influenced by various factors such as their income,gender, age and level of education. In order to investigate the relationship between food expenditure and take home pay in Australia, a researcher plans to survey a sample of individuals across the country.

Briefly explain
(a) What type of survey method could the researcher use and why
(b) What sampling method could the researcher use to select his/her sample and why
(c) What kind of issues the researcher may face in this data collection

Suppose a researcher has collected data form a sample of 150 individuals for this study. For each individual, the weekly take-home pay and weekly food expenditure were recorded. The data are stored in file FOODEXP.XLS. Using this data set and EXCEL, answer the questions below.

First, the researcher wishes to use the graphical descriptive methods and numerical descriptive mesures to present the data for the two variables.
(a) The researcher decides to use 8 class intervals such as 100<X≤225, 225<X≤350,350<X≤475, ….., 975<X≤1100 for weekly take-home pay variable and class intervals 0<X≤50, 50<X≤100, 100<X≤150, …. , 350<X≤400 for weekly food expenditure variable.
Explain how the researcher would have decided on 8 class intervals.
(b) Draw a histogram for each variable using appropriate BIN values from part (a).
(c) Prepare a numerical summary report for the two variables; weekly take-home pay and food expenditure by including summary measures such as mean, median, range, variance,standard deviation, smallest and largest values and the three quartiles, for each variable.

Notes: Use QUARTILE.EXC command to generate the three quartiles
(d) Based on your histograms in part (b) and descriptive summary measures in part (c),comment on the skewness of the distribution of the two variables.
 
Second, the researcher wishes to investigate the association between the two variables.
(a) Explain what could be the independent variable (X) and the dependent variable (Y).
(b) Using an appropriate plot, investigate the relationship between weekly take-home pay and weekly food expenditure. On the same plot, fit a linear trend line.
(c) Using Excel, compute a numerical summary measure to measure the strength and the direction of the linear relationship between weekly take-home pay and weekly food expenditure. Interpret this value.

(d) Display the regression summary table. Using the summary results, estimate the Least Squares Regression equation and interpret the intercept and slope coefficient estimates of the estimated linear regression model.
(e) Using the regression summary output table, conduct a hypothesis testing to conclude whether there is a linear relationship between weekly take-home pay and weekly food expenditure. Use .

(a) Based on your answers above, write a summary report about the findings of the study conducted by this researcher (maximum 200 words). 
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