country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Retail Trade Forms A Key Element For Any Economy The Economy

tag 0 Download4 Pages 836 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

How Retail Trade Forms A Key Element for Economy The Economy ?

 

Answer:

Introduction

Retail trade forms a key element for any economy including the Australian economy.  As a result, the article which corresponds to reporting of the same for January 2017 has been selected.  The article not only contains data about retail trade for the month of January but also presents various data in the form of a time series which enables the reader to put the observations in perspective. Also, the various factors that have contributed to the retail trade figure recorded in the article have also been briefly highlighted. The objective of the given essay is to focus on the use of various statistical techniques associated with data summarization and presentation along with highlighting any potential improvements.

Analysis

The given data has been researched by CBA or Commonwealth Bank of Australia with the aid of various primary sources.  Since the article contains only numeric data which has a well defined zero, hence the appropriate data type applicable to the given case is ratio.  With regards to representation of the selected data both graphical methods and narratives have been mixed so as to deliver optimum information in the least possible space (Flick, 2015).

In summarizing any given data which highlights values at different time, a graphical representation would be most suited to draw comparisons and conclusions in an easy manner. As a result, the time series of the retail data representing the value of retail trade on a monthly basis of the previous years, a graphical illustration has been used which reflects a large amount of data in a convenient and interpretable manner. Also, the article selected has extensive use of descriptive data as the focus is to summarize and represent the data already available. This is nt limited not only to the use of various measures of central tendency such as average but also encompasses use of various techniques in order to explore the association between dependent and independent variables. The use of inferential statistics is not required in the given article as the objective is not on drawing inferences  but rather representing the available information in the most concise yet informative manner  (Eriksson & Kovalainen, 2015).

The concept of variation has been extensively used as the retail trade data is based on the same. This is apparent from the fact that it essentially denotes the change from the value in the previous month expressed in percentage terms. The given article tends to represent a host of these percentage values since the monthly values from the previous years have also been stated so as to foster better understanding of the data in a particular context.  With regards to the central tendency, the growth rate over the last ten years has been indicated. In deriving the various relation between certain variables of interest, the descriptive statistics have been used as the objective is not to develop an all encompassing theoretical model but only explanation for the current month based on the available data for relevant independent variables identified through literature review (Hastie, Tibshirani & Friedman, 2011).

It would have been better it the current brief at the end could have offered some futuristic perspective aiming at the next quarter or so. It is possible to assume reasonable accuracy over such a short term. Besides, it would have been better If along with goods and services, the trend of a few significant goods could have been captured which would reflect on the contributory factors and enhance future prediction for the users (Flick, 2015).

 

Summary

The article selected focused on representation of the data concerning the retail data for the month of January in the year 2017.  However, to allow the readers to make the sense of the data the same has been represented in the form of a time series so as to allow making key conclusions. The data type deployed in ratio with extensive use of graphs for presentation a summary picture of the relevant data facilitating not only comparison with past values but a movement witnessed in various states also. The article involves wide usage of various descriptive statistics as the key objective is to represent the available data rather than to draw any conclusions about any population. Also,  there has been wide usage of variation with the retail trade itself being measured in % terms using variation from previous month.  Additional information regarding future values would enhance the utility of the given document and thus should be considered.

 

References

Eriksson, P. & Kovalainen, A. (2015). Quantitative methods in business research (3rded.). London: Sage Publications.

Flick, U. (2015). Introducing research methodology: A beginner's guide to doing a research project (4thed.). New York: Sage Publications.

Hair, J. F., Wolfinbarger, M., Money, A. H., Samouel, P., & Page, M. J. (2015). Essentials of business research methods (2nded.). New York: Routledge.

Hastie, T., Tibshirani, R. & Friedman, J. (2011). The Elements of Statistical Learning (4thed.). New York: Springer Publications.

OR

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Retail Trade Forms A Key Element For Any Economy The Economy. Retrieved from https://myassignmenthelp.com/free-samples/retail-trade-forms-a-key-element-for-any-economy-the-economy.

"Retail Trade Forms A Key Element For Any Economy The Economy." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/retail-trade-forms-a-key-element-for-any-economy-the-economy.

My Assignment Help (2018) Retail Trade Forms A Key Element For Any Economy The Economy [Online]. Available from: https://myassignmenthelp.com/free-samples/retail-trade-forms-a-key-element-for-any-economy-the-economy
[Accessed 09 April 2020].

My Assignment Help. 'Retail Trade Forms A Key Element For Any Economy The Economy' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/retail-trade-forms-a-key-element-for-any-economy-the-economy> accessed 09 April 2020.

My Assignment Help. Retail Trade Forms A Key Element For Any Economy The Economy [Internet]. My Assignment Help. 2018 [cited 09 April 2020]. Available from: https://myassignmenthelp.com/free-samples/retail-trade-forms-a-key-element-for-any-economy-the-economy.


MyAssignmenthelp.com has appointed best assignment experts who are wizards of words. Our writers know every trick of crafting high quality write-ups within a short period. With years of experiences, we have become one of the most prolific assignment help services in the USA. We deliver custom-made help to students with writing different types of assignments. We guarantee total need-based and timely service, and this is why increasing numbers of students prefer to buy assignment online.

Latest Statistics Samples

72160 Statistical Analysis

Download : 0 | Pages : 13
  • Course Code: 72160
  • University: Open Polytechnic
  • Country: New Zealand

Answer: 1. Introduction Income is the revenue generated from selling goods and services (Haraldsson, 2017).  (DAVID, 2011) Define it as the money that an individual receives in compensation for his or her labor and services. (Jones, 2010) Studies on the factors that affect income reveal that qualification is a measure of one’s potentiality and therefore, highly skilled personnel tend to generate more income in both the private...

Read More arrow

BUS708 Statistics And Data Material Analysis

Download : 0 | Pages : 5
  • Course Code: BUS708
  • University: Victoria University
  • Country: Australia

Answer: Introduction Before success can be achieved in a business there are a lot of risks that the investors have to take. Mitigation of this risks demand a lot of thinking and intuitions if a well-informed decision is to be reached that can guarantee future success. Historically enterprises decision making was largely based in intuitions and experience, but with emergence of better techniques decision making basis is being transformed to a ...

Read More arrow

BUS708 Statistics And Data Analysis Assignment

Download : 0 | Pages : 6

Answer: Introduction This report aims to describe the characteristics and distribution of flights in Australia between the time period September 2003 to September 2018. Analysis is carried out on airline services data of Australia and compared to the findings of (Assaf, 2010) and (Malcolm Abbott, 2012)in order to make a recommendation on improvement of airport services to the airline. The following research questions guided the study; ...

Read More arrow

BUS708 Statistics And Data Analysis 4

Download : 0 | Pages : 4

Answer: 1. Section 1: Introduction The aim of this study was to analyze the aviation industry in Australia. We employ different kind of datasets for analysis purposes. Dataset 1 comprises of a total of 1000 cases and has about 14 variables. This is a primary dataset and it has variables ranging from different scale measurements (Bellavance, et al., 2009). We have nominal variables as well categorical and continuous variables. Dataset 2 also...

Read More arrow

BUS707 Applied Business Research Method

Download : 0 | Pages : 11

Answer: Introduction In business practice, it is often imperative to optimize performance with an ultimate aim of increasing sustainability and value of the business. At the core of optimizing business performance is the executive of the business which oversees all management and usually takes different forms such as: resource management, accounting management, operation management etcetera. Since the advent of modern business organizational...

Read More arrow
Next
watch

Save Time & improve Grades

Just share your requirements and get customized solutions on time.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,249,346

Orders

4.9/5

Overall Rating

5,068

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

203 Order Completed

97% Response Time

Richard Alpert

PhD in Psychology

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2830 Order Completed

97% Response Time

Leroy Bicknell

MBA in Marketing

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

610 Order Completed

100% Response Time

Cheryl Zhao

PhD in Statistics

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

647 Order Completed

98% Response Time

Adlina Han

Masters in Marketing with Specialization in Branding

Singapore, Singapore

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

I hope I get good mark! I hope I get good mark!I hope I get good mark!I hope I get good mark!I hope I get good mark!I hope I get good mark!

flag

User Id: 392150 - 08 Apr 2020

Australia

student rating student rating student rating student rating student rating

HANDED IN ON TIME THOUGH GAVE A VERY SHORT TIME TO DO SO. THE WORK WAS WELL DONE TOO!!

flag

User Id: 194216 - 08 Apr 2020

Australia

student rating student rating student rating student rating student rating

Always impecable work. I super reccoment this service to anyone. The quality of work and agile delivery are the high points.

flag

User Id: 396689 - 08 Apr 2020

Australia

student rating student rating student rating student rating student rating

this was an excellent assignment I cant understand how the assignments can differ in presentation, is it that some writers are trained and some are not.

flag

User Id: 315260 - 08 Apr 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?