Statistics for Business Decision Assignment

Statistics for Business
Decision

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
1. CO2 EMISSION........................................................................................................................1
a) Graphical technique for comparing values.......................................................................1
b) Graphical technique for comparing the percentage value.............................................2
c) Comparing a & b...................................................................................................................4
2. ANALYSIS OF TIME OF ASSEMBLY...................................................................................4
a) Adequate frequency distribution........................................................................................4
b) Proper Cumulative frequency distribution........................................................................5
c) Histogram...............................................................................................................................5
d) Ogive......................................................................................................................................6
e) When data is less than 65...................................................................................................8
f) When data is more than 75..................................................................................................8
3. ESTIMATION AND TESTING SIGNIFICANCE LEVEL.....................................................8
a) Graphical Descriptive Measure of two variables.............................................................8
b) Scatter plot..........................................................................................................................10
c) Numerical brief report of data...........................................................................................11
d) Coefficient of correlation between the rate of inflation and all ordinaries index.......11
e) Simple loner regression model and the linear equation model...................................12
f) Coefficient of Determination R2.........................................................................................12
g) Evaluation of significant relationship at 5% significance level....................................12
h) Value of the standard error of the estimate (se).............................................................12
CONCLUSION.............................................................................................................................13
REFERENCES............................................................................................................................14

INTRODUCTION
Statistics analysis plays essential role in business decision making, planning and
strategy formulation (Berman,and Wang, 2016). This report provides a brief introduction
about the fundamental statistical approach and techniques used to sort out the business
problems and improving the decision making process. This report covers the application
of statistical techniques to solve the business problems. Three business problems are
given as evaluation of climate change to unstable activities, second is analysing the
basis statistical aspects based upon car assembly plant in Adelaide that contains the
data of 40 workers and the third problem is related to analysis of purchasing power of
the dollar in order to determine the investments to provide protection against inflation.
1. CO2 EMISSION
a) Graphical technique for comparing values
Country
2009 (in millions of metric
tons)
2013 (in millions of metric
tons)
United States 5957 5300
China 5323 10330
Russia 1696 1800
Japan 1230 1360
India 1166 2070
Germany 844 840
Canada 631 550
United King-
dom 577 480
South Korea 500 630
Italy 467 390
Iran 451 410
South Africa 424 330
France 415 370
Saudi Arabia 412 490
Australia 407 390
1

The above table states the position of CO2 emission in fifteen countries. The
emission is measured in millions of metric tonnes for the year 2013 and 2009. China is
recorded as highest CO2 emission country within the gap of four years. The United
states controlled the emission of CO2 by implementing strong environment friendly rules
and legislations (Hutton, Jiang and Kumar, 2014). Australia was the only country that
maintained the same level of the emission.
b) Graphical technique for comparing the percentage value
2