Business Decision Making using Statistical Tools

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Business Decision Making using
Statistical Tools

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0
20
40
60
80
100 Australian Export (in A$ bn) for 2004-05 and 2014-15
Exports (A$ bn)
Figure 1: Clustered Bar Chart for Country wise Australian exports (in A$ bn) for 2004-05 and
2014-15
China
Japan
United States
Republic of Korea
India
New Zealand
Singapore
United Kingdom
0.00%
10.00%
20.00%
30.00%
40.00%
Australian Export Percentages for 2004-05 & 2014-15
Percentage
Figure 2: Clustered Bar Chart for Country wise Australian export percentage for 2004-05 and
2014-15

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Exports to China and Japan significantly increased in 2014-15 compared to 2004-05.
Exports to United Kingdom decreased by 0.6 billion Australian dollars, whereas, it
increased to United States, Republic of Korea, India, and Singapore. A very small increase
in exports to New Zealand is also noted.
Exports increased by 25.01% to China, and the impact are felt on the entire scenario.
Exports have decreased by 6.45% to Japan, 4.29%, to the United States, 1.48% to
Republic of Korea, 1.19% to India, and 0.24% to Singapore. A substantial decrease in
exports to New Zealand by 6.31%, and 5.06% to United Kingdom has also been identified
(Triola, 2018).
Interestingly, comparison in export percentages revealed that export to China has grown at
a rapid rate, whereas, percentage export to rest of the countries have decreased. This
indicates that impact of growing trade with China compared to other countries has a
retarding effect on percentage of export to other countries.
Table 1: Frequency Distribution of Umbrella Sales of 40 days
Class Lower Limit Upper
Limit Mid-Point Frequency
30-40 30 40 35 2
40-50 40 50 45 4
50-60 50 60 55 8
60-70 60 70 65 11
70-80 70 80 75 8
80-90 80 90 85 5
90-100 90 100 95 2

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Table 2: Relative Frequency Distribution of Umbrella Sales of 40 days
Class Lower Limit Upper Limit Mid-Point Frequenc
y Relative Frequency
30-40 30 40 35 2 0.050
40-50 40 50 45 4 0.100
50-60 50 60 55 8 0.200
60-70 60 70 65 11 0.275
70-80 70 80 75 8 0.200
80-90 80 90 85 5 0.125
90-
100 90 100 95 2 0.050
Table 3: Cumulative Frequency Distribution of Umbrella Sales of 40 days
Class Lower Limit Upper
Limit Mid-Point Frequency Cumulative
Frequency
30-40 30 40 35 2 2
40-50 40 50 45 4 6
50-60 50 60 55 8 14
60-70 60 70 65 11 25
70-80 70 80 75 8 33
80-90 80 90 85 5 38
90-100 90 100 95 2 40