Business Statistics : Assignment

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BUSINESS STATISTICS
EXECUTIVE SUMMARYThis report summarises data collectedon 50 variables belonging to 182 countries that arerandomly selected from the 12 categories of 2018 Social Progress Index. Based on these datavalues, an analysis has been carried out so as to infer statistically what role this index played insuccessful fulfilment of UN Sustainable Development Goals to make the world a better place by2030.The report randomly selected 5 variables from the 12 categories described in the Indexwere Deaths from infectious diseases (Category 1), Availability of Affordable Houses (Category3), Total Number of Enrolments in Primary School (Category 5), Life Expectancy at 60(Category 7), Private Property Rights(Category 9)and Religious Tolerance(Category 11). Also,it employs various techniques such as Hypothesis Testing, Correlation and Regression amongothers depending on the nature and size of the variables taken into account. Using thesetechniques, Social Progress Index has numerous variables that may impact the sustainabledevelopment of a country domestically as well as Internationally. It was also ascertained throughhypothesis testing that variables such as Well being, Deaths from diseases, Personal Rights andAccess to Basic Knowledge have different benchmarks in different countries. Also, thesevariables are either negatively correlated or weak in nature, thus having little or no impact oneach other.Thus, it is recommended that in order to achieve the goals on Sustainable Developmentset by UN, it is important to have access to basic knowledge and ensure that different countries'progress is generalised on a given benchmark for the same. This will help in an easier analysis ofsocial progress all around the world and enable much more authenticity as well as relevancy tothe given issue.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1SAMPLE SELECTION...................................................................................................................1DESCRIPTIVE STATISTICS.........................................................................................................2Category 1: Nutrition and Basic Medical Care......................................................................2Category 3: Shelter.................................................................................................................4Category 5: Access to Basic Knowledge................................................................................7Category 7: Health and Wellness...........................................................................................8Category 9: Personal Rights...................................................................................................9Category 11: Tolerance and Inclusion..................................................................................10CONFIDENCE INTERVAL.........................................................................................................11Average Category 3..............................................................................................................11Average Category 11............................................................................................................11HYPOTHESIS TESTING.............................................................................................................121. Evaluating the level of Access to Basic Knowledge among American and African Countries..............................................................................................................................................122. Evaluating the difference in Personal Rights among Asian and European Countries.....133. Evaluating the difference in Health and Wellness among European and American Countries..............................................................................................................................................13CORRELATION AND REGRESSION........................................................................................131.Nutrition and Basic Medical Care related variables (Category 1) and Health and Wellness13variables (Category 7)..........................................................................................................132. Access to Basic Knowledge related variables (Category 5) and Personal Rights variables14(Category 9)..........................................................................................................................14CONCLUSION AND LIMITATIONS.........................................................................................16REFERENCES..............................................................................................................................17APPENDICES...............................................................................................................................18
INTRODUCTIONBusinessstatisticsinvolves the application of statistical tools in the area of marketing,production, finance, research and developmentandmanpower planningamong others(Ji-fanRen and et.al, 2017). to extract relevant information for the purpose of decision making. Throughstatistical tools and techniques the manager of business can calculate about field which is relatedto business activities of public and private enterprises. In the report, different taskshave beenconsideredwherein 5 variables have beenselectedusing random sampling from the 182countries belonging to Social Progress Index.SAMPLE SELECTIONA random sample is a subset of a statistical population where each member of the subsethas an equal probability of being selected.Here, the randomized sample is presented as anunbiased of a group.For example, in the present scenario, there are 182 countries that constitutethe population of interest, from these 100countries are selected using random samplingtechnique(Jones, Cournane and et.al, 2016). Random sampling has been used to conductrandomized control tests or blinded experiments. It is considered as simplest forms of collectingdata from the total populations. In this method, equal opportunitiesare providedto everymember.Then,from each categories, labelledwith an odd number such as categories 1,3,5,7,9and 11, have been taken into account.In total, there are12 categories present in the SocialProgress Indexand each categories divided into different types of variables.From thesecategories one variable has been selected to present different sample.For instance, in category 1Nutrition and basic medical care,there are 5 variables which are mentioned hereunder:UndernourishmentDepth of food deficitMaternal mortality rateChild mortality rateDeaths from infectious diseasesFrom these Deaths from infectious diseases has been chosen. This process has beenrepeated for rest of the categories too.DESCRIPTIVE STATISTICSContinentNo of Countries1
AFRICA14AMERICA15ASIA15EUROPE16As per the above tables, different Continents have been identified that mainly constitutethe Social Progress Index. The table clearly states the number of countries analysed for eachcontinent in order to successfully complete the creation of Social Progress Index of 2018.AFRICAAMERICAASIAEUROPE1313.51414.51515.51616.514151516Count of ContinentThe presented graph has been created through above table wherein it shows thatContinentsEurope, Africa, America and Asia.It can be clearly observed that Europe has thehighest number of countries included for the given index which comes to 16 in comparison toother continents such as AfricaandAmerica whose numbers are equivalent to 15. Africa has 14countrieswhich is lesser than number of countries chosen from rest of the continents.Category 1: Nutrition and Basic Medical Care2
ContinentsTotal Number of Deaths from InfectiousDiseasesAFRICA6185.5561860397AMERICA970.6054168193ASIA1631.1151300995EUROPE327.4231623123The variable selected fromCategory OneisDeaths from Infectious Diseases.Therationale for this particular selection is that it is easily measurable. Also, the (un)availability ofbasic Nutrition and medical care would be clearly observable in the form of (in)decrease ofdiseases prevalent in that country. This is due to the fact thatif people cannot get medical andnutrition care on time so they easily get disease(Viswanadham, 2018).As per the above table,the total number of people who got serious disease as a result of inadequate basic nutrition andmedical care has been calculated. Wherein the highest number of deaths has been recorded inAfrica (6185.56), followed by Asia (1631.11) and least in Europe (327.42).3
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