ASSIGNMENT
The project is a practical exercise in data analysis in a managerial context. It assumes that the various course materials have been studied and understood by you. For this assignment, the rationale is to apply the techniques of the module to more complex and realistic examples than are dealt with in the lecture sessions. You are required to prepare a report which examines, analyses, models and solves a number of analytical questions concerning real-world data. Further details will be provided during lesson.
The purpose of this project is to allow you to show your ability to apply the theory and approaches developed in the course to formulation and solution of realistic problems amenable to attack by the techniques of Data Analysis. Thus, it facilitates students' development of particular cognitive skills and competencies, such as teamwork, problem analysis and solution using recognised techniques, applying spread sheet software to present data and implements statistical tests, interpreting solutions and reporting, and is aligned with the module learning outcomes (detailed in the module outline).
Effective written communication is very important in today's business world. Therefore, take time to discuss with your team on agreed expectation, mode of working/meetings, and analysis/preparation of the report.
In your report, you need to explain:
• the meaning of concepts, notation, etc.;
• all assumptions made regarding data and population parameters;
• the theoretical basis for tests;
• thinking behind your choices of probability distributions as models;
• Your interpretation of the solution in the business context, including any conclusions/recommendations you would make to the decision maker.
In particular, include enough detail of workings in your reports (not in appendices) to verify your understanding of the technique(s) used. If you explain your thinking, you will be given credit for any good ideas you had, even if you have made a mistake somewhere in the formulation of the ideas. You are also encouraged to research and explore statistical techniques beyond the syllabus of this module.
For this assignment, the key standards expected include:
• Understanding of key concepts and application of appropriate statistical analysis methods.
• Explanation and interpretation of statistical findings.
• Analysis and level of argument.
• Structure and presentation of the submission, graphs, writing style, etc.
Assignment Requirements: (MY BREAKDOWN)
• Choose data -SINGAPORE POPULATIONS
• Create Scenario - LOW BIRTH RATE (DECLINING POPULATIONS)
• Create a Problem - GREYING POPULATION, AGEING GROUP INCREASES
• Analyze - HOW TRUE IS THIS AND WHY! COMPARE IT WITH SIMILAR SITUATION (KOREA). COMPARE WHETHER SINGAPORE IS BETTER OR WORST OFF.
• Recommend a solution - Keep it to half a page government effort? Baby grant? increase maternity or paternity leaves for parents? Other suggestions from statistics point of view!
1) Calculate at least 2 measures of central tendency and at least 2 measures of variation for your Continuous Variable sample data. Explain the results and meaning of these measures in your report. Include a summary of the data in your report using a graph or table. Use Excel for this task.
Descriptive Statistics:
• Kurtosis
• Mean, Median, mode
• Excel
2) Explain what your Discrete Random Variable is and what probability distribution can be used to describe it. Give some examples and interpretation of the usage of the probability distribution function and outline its business relevance.
Discrete Random Variable:
• Binomial
• Poisson
• Hypergeometric
3) Set up and conduct a hypothesis test relevant to the continuous random variable. Choose an appropriate level of significance for your test.
Inferential Statistic:
• Hypothesis Testing (SLR : SIMPLER LINEAR REGRESSION)
4) Show how Regression techniques can be used to extrapolate or interpolate values for your dependent variable.
Apply Regression into your data
Include reference page and content page! Harvard referencing.