logo

Statistical Analysis Project Report

27 Pages3158 Words51 Views
   

Added on  2020-07-22

Statistical Analysis Project Report

   Added on 2020-07-22

ShareRelated Documents
Statistical Analysis Project
Statistical Analysis Project Report_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3PART A...........................................................................................................................................3QUESTION A.................................................................................................................................3Stating the descriptive statistics of the price of two and three years old car...............................3QUESTION B..................................................................................................................................5To,....................................................................................................................................................5PART B...........................................................................................................................................6Question 1 Stating the proportion of car available for sale is white............................................6Question 2 Assessing two and years used car having odometer less than 50000 km.................6TASK 3: WRITTEN ANSWER......................................................................................................7PART C...........................................................................................................................................8TASK 1............................................................................................................................................8Question 1 Independent sample t test..........................................................................................8Question 2 Presenting linear regression analysis related to age and price..................................8Question 3 Presenting multiple regression analysis of variables like price, age, odometer andtransmission.................................................................................................................................9TASK 2............................................................................................................................................9Presenting results of evaluation to the client via business letter.................................................9CONCLUSION APPENDIX.........................................................................................................10APPENDIX....................................................................................................................................11Appendix 1: Question 2 of part b..............................................................................................11Question 1 Stating the proportion of car available for sale is white..........................................12Question 2 Assessing two and years used car having odometer less than 50000 km...............12Appendix 2: 1 of Part C.............................................................................................................12
Statistical Analysis Project Report_2
Appendix 3: 2 of Part C.............................................................................................................13Appendix 4: 3 of Part C.............................................................................................................19
Statistical Analysis Project Report_3
INTRODUCTION Statistical analysis implies for the process of collecting, exploring and analyzing largedata set which in turn helps in discovering suitable pattern or trend. Such analysis is highlysignificant which in turn provides assistance in evaluating quantitative data set in an appropriatemanner and thereby aid in decision making. On the basis of cited case situation, individualwishes to purchase two and three year old cars such as Mazda 3 pertaining to the state of NewSouth Wales. In this context, report will provide deeper insight about the manner in whichstatistical tools namely regression, one sample and independent t test helps in taking appropriatedecision. PART A QUESTION A Stating the descriptive statistics of the price of two and three years old car Descriptive statistics of the price range of 2014 and 2015 ParticularsTwo years time period(2015) Three years period(2014) Mean22385.5321551.13Standard Error667.33617.6097Median2199020500Mode1988820500Standard Deviation2908.842961.95Sample Variance8461367.158773160Kurtosis0.39-0.26Skewness0.93-0.028Range1079012000
Statistical Analysis Project Report_4
Minimum1799014990Maximum2878026990Sum425325495676Count1923Quartile 1 and 25th percentile 19989.519945Quartile 2 and 50th percentile2199021125Quartile 3 and 75th percentile23657.524454.5Estimated price range Particulars Price (in $) Price (in $) PriceRange(classinterval)2015 model (2 yearsused car)22385.53 + 2908.84 =25294.37 22385.53 + 2908.84 =19476.6819476.68 -25294.372014 model (3 yearsused car)21551.13 + 2961.95 =24513.0821551.13 - 2961.95 =18589.1818589.18 -24513.08
Statistical Analysis Project Report_5
QUESTION B To, ABC Date: 18th January 2018 Subject: Descriptive analysis Introduction: On the basis of your requirement, Methods: With the motive to assess mean, minimum and maximum prices of two and two yearsold car descriptive statistic tool has applied. This in turn helps in making assessment of data setfrom several perspectives and helps in making judgment. Results: From descriptive analysis, it has found that average price of two and three years usedcar accounts for $22385.53 & $21551.13 respectively. This aspect shows that mean price of 2years used car is higher as compared to other. The rationale behind this, depreciation is chargedon asset every year which in turn may result into reduction in the prices of same. Due to this,average price of two years used Mazda 3 is greater than other alternative option. Along with this,statistical evaluation clearly exhibits that out of 121 sample, number of two and year used carimplies for 19 and 23. In the context of model 2015, 19 cars, minimum and maximum prices ofcar account for $17990 & $14990 respectively. On the other side, minimum price of three yearused cars (2014) implies for $14990 which is less as compared to 2015 model. From analysis, ithas assessed that out of 121 samples, count of three year used car imply for 23 which shows thatmaximum price is $26990. Further, statistical evaluation also shows that price range of 2 yearsused car fall within the range of $19476.68 - $25294.37. In contrast to this, price of Mazda 3(2014 model) accounted for $18589.18 - $24513.08. Hence, considering all such aspects it canbe depicted that price of two and three years used car differs but not to the significant level.Thus, it is suggested that lays emphasis on purchasing 3 years old Mazda 3. Conclusion: From overall evaluation, it has been concluded that he needs to make focus oninvesting money in two years old Mazda 3 related to New South Wales. Sincerely Analyst PART B Question 1 Stating the proportion of car available for sale is white Row LabelsCount of WhiteNo88Yes33Grand Total121Proportion
Statistical Analysis Project Report_6

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
MAT10251 - Statistical Analysis Project
|4
|596
|221

Statistics for Business Decision
|11
|1637
|3

Statistical Analysis on Excel
|10
|721
|388

MAT10251 Statistical Analysis : Assignment
|4
|661
|84

Assignment : Statistical Analyses
|8
|1006
|153

Business Statistics Assignment with Frequency Distribution and Descriptive Statistics
|13
|1244
|485