Assignment:
The objective of this project is to conduct some elementary data analysis on a dataset chosen by you. The idea is to apply the statistical techniques introduced in the unit to analyse the data. The project consists of the following tasks:
1. Select a dataset. The dataset must have more than 2 variables. It can be cross-section or time series. The number of observations should be more than 20 (the more the better).
2. Present the data graphically in the way that provide an informative summary of the data. Some suggestions include Box-plot, scatter plot, histogram and time series. You will need decide which ones would be helpful for understanding the data.
3. Calculate various descriptive statistics of the data. What can these statistics tell us about each variable and their potential relations?
4. Divide the data into two groups and test if their means are statistically different from each other. In your test, make sure you provide the following:
a. State clearly the hypothesis.
b. State clearly the assumptions of the testing procedure.
c. Interpret the results.
The division of data is up to you. In the case of cross-section data on different age groups or different employment status, you may wish to divide the data based on those categories. In the case of time series data, you may wish to divide the sample before and after certain event, such as GFC or a particularly significant event.