HA1011 Applied Quantitative Methods Assignment

Added on - 16 Oct 2019

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HA1011 – Applied Quantitative MethodsGroup AssignmentAttempt all the questions (8x2.5 = 20 Marks)Question 1 of 8HINT: We cover this in Lecture 1 (Summary Statistics and Graphs)Data were collected on the number of passengers at each train station in Melbourne. The numbersfor the weekday peak time, 7am to 9:29am, are given below.45611894103186483993822483791240226827226711137332626829063381750530158477293231311163216069828781695835484296583442630538494194626843586286657913591022161810214011181117863728301000295896269740114421115Tasks:a.Construct a frequency distribution using 10 classes, stating the Frequency, RelativeFrequency, Cumulative Relative Frequency and Class Midpointb.Using (a), construct a histogram. (You can draw it neatly by hand or use Excel)c.Based upon the raw data (NOT the Frequency Distribution), what is the mean, median andmode? (Hint – first sort your data. This is usually much easier using Excel.)Question 2 of 8HINT: We cover this in Lecture 2 (Measures of Variability and Association)You are the manager of the supermarket on the ground floor below Holmes. You are wondering ifthere is a relation between the number of students attending class at Holmes each day, and theamount of chocolate bars sold. That is, do you sell more chocolate bars when there are a lot ofHolmes students around, and less when Holmes is quiet? If there is a relationship, you might want tokeep less chocolate bars in stock when Holmes is closed over the upcoming holiday. With the help ofthe campus manager, you have compiled the following list covering 7 weeks:Weekly attendanceNumber of chocolate bars sold4726 9164135 8845037 2236128 1583996 0145387 2094556 2141
Tasks:a.Is above a population or a sample? Explain the difference.b.Calculate the standard deviation of the weekly attendance. Show your workings. (Hint –remember to use the correct formula based upon your answer in (a).)c.Calculate the Inter Quartile Range (IQR) of the chocolate bars sold. When is the IQR moreuseful than the standard deviation? (Give an example based upon number of chocolate barssold.)d.Calculate the correlation coefficient. Using the problem we started with, interpret thecorrelation coefficient. (Hint – you are the supermarket manager. What does the correlationcoefficient tell you? What would you do based upon this information?)Question 3 of 8HINT: We cover this in Lecture 3 (Linear Regression)(We are using the same data set we used in Question 2)You are the manager of the supermarket on the ground floor below Holmes. You are wondering ifthere is a relation between the number of students attending class at Holmes each day, and theamount of chocolate bars sold. That is, do you sell more chocolate bars when there are a lot ofHolmes students around, and less when Holmes is quiet? If there is a relationship, you might want tokeep less chocolate bars in stock when Holmes is closed over the upcoming holiday. With the help ofthe campus manager, you have compiled the following list covering 7 weeks:Weekly attendanceNumber of chocolate bars sold4726 9164135 8845037 2236128 1583996 0145387 2094556 214Tasks:a.Calculate AND interpret the Regression Equation. You are welcome to use Excel to checkyour calculations, but you must first do them by hand. Show your workings.(Hint 1 - As manager, which variable do you think is the one that affects the other variable?In other words, which one is independent, and which variable’s value is dependent on theother variable? The independent variable is always x.Hint 2 – When you interpret the equation, give specific examples. What happens whenHolmes are closed? What happens when 10 extra students show up?)b.Calculate AND interpret the Coefficient of Determination.2
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