BUS708 Statistics and Data Analysis

Added on - 26 Nov 2019

  • BUS708

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  • 10

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BUS708 STATISTICSAND DATA ANALYSISSTATISTICAL MODELLING ASSIGNMENTSTUDENT ID[Pick the date]
Introduction(a)The given company extends the service to those individuals who are coming to Australiafrom various places of the world in order to fulfill various obligations. The companyprovides accommodations either on permanent basis or on temporary basis. In thisregards, it is essential to determine the weekly rents pattern of the main four suburbs ofAustralia i.e. Auburn, Parramatta, Randwick and Sydney based on the 500 sample datacollected from these suburbs. Further, the weekly rent amount pattern especially for theinternational students would also be analyzed in the present report.(b)Data set 1: The type of data collected for analyzing the weekly rent pattern for theinternational students is primary data. This is because the data has been collected throughpersonal interview by asking the international student about their weekly rent. However,there is possibility that the collected data set is biased because the sample data might notbe the true representative of population. This is because the data has not been collectedby considering the location, gender, financial status of the international student. Also, thedata has not been collected from a larger population and also the sample size is 20students which are based on the convenience of the researcher. Further, weekly rent is aquantitative data set and the scale of measurement for the data is ratio. This shows thatdata has a well-defined zero and is numeric in nature.(c)Data set 2: For the analysis, 500 samples have been collected from “Rental Bond BoardProperty Data on Weekly Rent” for the four main suburbs from the “Department ofFinance.” This collected data would be termed as secondary data set because the data hasbeen collected from another data source. The collected data comprises weekly rent, bondamount and number of bedrooms which is quantitative data set. Further, the suburb andthe dwelling type are the qualitative data. Ratio scale of measurement has been taken intoaccount for quantitative data and nominal scale of measurement has been used forquantitative data set.Analysis of weekly rent paid by International Student(a)The descriptive statistics for the weekly rent paid by the international students is shownbelow:1
The graphical representation of the weekly rent paid by the international students is shown in theform of histogram below:0to367367to433433to500500to567567to633633to700700to767767to833Morethan83300.511.522.533.544.5Histogram: Weekly Rent (International Student)Weekly Rent (AUD)Frequency(b)The conclusion can be made based on the descriptive statistics that the measure of centraltendency i.e. median, mean and mode are not equal and hence, the distribution of the dataset is not following a normal distribution. This is also evident from the presence of skew(0.40). Further, the positive value of skew represents that the data is having rightwards2
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