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Statistics and Research Methods for Business Decision Making

   

Added on  2023-03-17

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STATISTICS AND RESEARCH METHODS FOR BUSINESS DECISION MAKING
Statistics and Research Methods for Business Decision Making_1

STATISTICS AND RESEARCH METHODS FOR BUSINESS DECISION MAKING
Question Three
Part a
From Figure 1: Plot of Retail Turnover per Capita against Time we observe that the
variable displays a generally increasing trend over time.
Sep-1983
Nov-1984
Jan-1986
Mar-1987
May-1988
Jul-1989
Sep-1990
Nov-1991
Jan-1993
Mar-1994
May-1995
Jul-1996
Sep-1997
Nov-1998
Jan-2000
Mar-2001
May-2002
Jul-2003
Sep-2004
Nov-2005
Jan-2007
Mar-2008
May-2009
Jul-2010
Sep-2011
Nov-2012
Jan-2014
Mar-2015
0.0
500.0
1000.0
1500.0
2000.0
2500.0
3000.0
3500.0
Plot of Retail Turnover per Capita against Time
Time
Retail Turnover per Capita
Figure 1: Plot of Retail Turnover per Capita against Time
From Figure 2: Plot of Final Consumption Expenditure against Time we observe that the
variable also displays a generally increasing trend over time.
2
Statistics and Research Methods for Business Decision Making_2

STATISTICS AND RESEARCH METHODS FOR BUSINESS DECISION MAKING
Sep-1983
Nov-1984
Jan-1986
Mar-1987
May-1988
Jul-1989
Sep-1990
Nov-1991
Jan-1993
Mar-1994
May-1995
Jul-1996
Sep-1997
Nov-1998
Jan-2000
Mar-2001
May-2002
Jul-2003
Sep-2004
Nov-2005
Jan-2007
Mar-2008
May-2009
Jul-2010
Sep-2011
Nov-2012
Jan-2014
Mar-2015
0
50000
100000
150000
200000
250000
Plot of Final Consumption Expenditure against Time
Time
Finak Consumption Expenditure
Figure 2: Plot of Final Consumption Expenditure against Time
Part b
This study is interested in determining whether Retail Turnover per Capita is a good
predictor of Final Consumption Expenditure. Thus the Final Consumption Expenditure is
the dependent variable (y), hence on the Y axis, while Retail Turnover per Capita is the
independent variable (x), hence on the X axis on Figure 3: Scatterplot of Final
Consumption Expenditure Versus Retail Turnover per Capita.
3
Statistics and Research Methods for Business Decision Making_3

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