Business Statistics Assignment -
The purpose of this assignment is to improve your understanding in choosing between and using methods to assess the relationship between variables and make comparisons across different segments. It will develop your skills in being able to critically think and enhance your analytical skills.
Specifically, we want you to access the Excel database provided on UTSOnline that describes the evaluation of more than 500 restaurants that are listed on a website /app that consumers can search and consult to determine where to go for breakfast, lunch or dinner in a capital city similar in geography to Sydney. Restaurants are categorised by a number of dimensions and this data is fed into the app and website search engine for consumers to help narrow their search.
You are asked to treat this database as a sample of the restaurants in Sydney - that is, the database is a listing describing a subset of restaurants in the capital city, but not all restaurants are included for various reasons (e.g., new restaurants being opened or closing on a daily basis).
We want you to investigate a series of questions using this database using the various statistical techniques you have been exposed to in Business Statistics and answer several managerial questions.
You must complete this as a group of three, four or five students.
Each group must complete all FOUR questions. We strongly recommend you do not assign a question to each group member to complete, but instead consider having an initial discussion, then each member completing all four questions on their own, and then come together as a group to find a common (superior) solution.
In answering each question, please consider the following:
- Explain which variables you used as inputs into your answers
- You should clearly show the various inputs to the calculations you used to construct your answer and justification or assumptions made in some cases for why you chose these as inputs (e.g., degrees of freedom; assumption).
- As you have access to a computer, you will be expected to use critical table values that are accurate (i.e., not rounded or obtained from an offline source such as a table listed in a textbook or table you may use in exam settings). This selection of table should be based on your knowledge about the population parameters, level of significance and degrees of freedom inputs, which you should also state to justify your selection of table.
- Present any inputs and answers to two decimal places (unless otherwise instructed), but round your calculations only at the end though to avoid round error. Probabilities should be presented as percentages.
Question - Barbara's concern about parking costs
Barbara is working as a planning consultant to the government focused on the location of small businesses. Barbara is particularly interested in examining what the average cost of parking at a parking station that is catering to city-based restaurants (i.e., defined as those restaurants located within 5km of the CBD).
One suggestion from her previous work conducted overseas is that, on average, parking costs should be significantly less than $14 to ensure using a private vehicle to frequent city-based restaurants remains a favourable proposition for potential patrons.
Propose and test a suitable hypothesis to examine this using the sample data provided.
Attachment:- Data File.rar