Business Report On Quantitative Methods

Running head: BUSINESS REPORT ON QUANTITATIVE METHODS
Business Report On Quantitative Methods
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1BUSINESS REPORT ON QUANTITATIVE METHODS
Executive Summary
The aim of this paper is to perform statistical analysis on a primary dataset collected by
conducting survey using questionnaire and personal interview method. The required task on
this paper is to perform interval estimation and point estimation of the population parameters
of randomly selected three quantitative variables from the dataset. Moreover, the parameter
estimation is done on a random sample drawn from the dataset. The field from where the
dataset has been collected is a house-hold data and the analysis has been done on the income
and expenditure data. The purpose of this paper is to provide an extensive statistical analysis
using Microsoft Excel Tool. The strength of this paper is to emphasis on the estimation of the
population parameters. The requirement of this paper includes several important steps, from
data collection to interpretation of the data by performing statistical analysis.

2BUSINESS REPORT ON QUANTITATIVE METHODS
Table of Contents
Introduction................................................................................................................................3
Method of Data Collection.........................................................................................................3
Sample Questionnaire............................................................................................................4
Data Summary............................................................................................................................5
Descriptive Data Analysis..........................................................................................................6
i. Summary statistics table and interpretations for Income variable..................................6
ii. Summary statistics table and interpretations for Grocery variable.................................7
iii. Summary statistics table and interpretations for Utilities variable.................................8
Interval Estimation.....................................................................................................................9
i. Confidence interval for Income variable.......................................................................10
ii. Confidence interval for Grocery variable.....................................................................10
iii. Confidence interval for Utilities variable.....................................................................11
Conclusion................................................................................................................................11
Recommendation......................................................................................................................11
References................................................................................................................................13

3BUSINESS REPORT ON QUANTITATIVE METHODS
Introduction
The report is prepared on the basis of a primary data collected by conducting a mini
survey using Questionnaire to collect the required data. The purpose of this survey was to
collect data on House-hold income expenditure by asking questions to the members of 250
families of a selected urban locality. After collecting the data, a sample of size 20 is drawn by
generating random numbers. Then, the required data analysis has been performed to analyse
the data based on some selected descriptive statistical measures. This report will help to
understand the method of collecting any primary data in practice by preparing statistical
questionnaire. It will also ensure to acknowledge a dataset using statistical measures. The
statistical measures which have been performed here are the mean, variance, and standard
deviation. After that, the confidence intervals are calculated of these estimated parameters at
a desired confidence level. Then, the required interpretations of these measurements are
discussed in the course of this study. All the required calculation has been performed using
MS Excel tool. At the end of this report, it recommends how these entire survey could be
better and the purpose of the study can be improved (Carlberg 2014).
Method of Data Collection
The study and all the analysis has been done on a primary data. Primary data can be
defined as the type of data which is not existing and not readily available on the internet or
any journals. To collect this primary data, the personal interview using questionnaire method
has been followed. The questionnaire is a list of some questions which are prepared to collect
the data for a particular study. The purpose of choosing questionnaire for data collection as
the method is quite cheap. Another reason for selecting questionnaire method is to maintain