Business Statistics

Running head: BUSINESS STATISTICS
Business Statistics
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1BUSINESS STATISTICS
Table of Contents
Introduction................................................................................................................................3
Trend line for weekly closing price...........................................................................................3
Histogram of weekly return.......................................................................................................4
Three aspects of descriptive analysis.........................................................................................4
Analysis of NAB, Wesfarmers and Woodside...........................................................................5
Conclusion................................................................................................................................10
Reference..................................................................................................................................11

2BUSINESS STATISTICS
Executive Summary
Bitcoin is a payment network which is very well-known as a cryptocurrency that uses
the block chain technology. Some says, Bitcoin as a secure, global and digital currency
represents the future of finance and some are not optimistic about it. A statistical analysis is
needed to judge that whether it is recommendable or not to invest in Bitcoin. Data on the
closing price and the return of Bitcoin on weekly basis can be used to get the best results
from the analysis. The trend and the statistics can suggest the better option between investin
and not investing on Bitcoins.

3BUSINESS STATISTICS
Introduction
Blockchain, primarily block chain, is a distributed decentralized digital ledger.
Cryptocurrency is an application of block chain technology. Cryptocurrency uses the
encryption techniques to secure and regulate the financial transaction, generation of
additional units and confirm the relocation of assets. A very well-known example of
cryptocurrency is Bitcoin. Bitcoin is a new kind of payment network and it uses the
technology to control without banks, manage transactions and issue the Bitcoins collectively
using the network (Easley, O'Hara and Basu 2019). The reasons for being optimistic about
the future of Bitcoin are market stability, Scalability of mainstream use, adoption, favorable
regulatory decisions, successful platform launches and strong cryptocurrency. The reason
behind not being optimistic about the future of Bitcoin is the supply of Bitcoin is fixed in the
long-run. Now, even if it follows the constant Friedman growth rule it would not be possible
to solve the problem.
Trend line for weekly closing price
Figure 1: Weekly closing price of Bitcoin over the year.
8/14/2013 12/27/2014 5/10/2016 9/22/2017 2/4/2019 6/18/2020
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Weekly Closing Price of Bitcoin
Time (Week)
Closing Price (AU$)