BUS5SBF - Statistics for Business & Finance Assignment

Running head: STATISTICS FOR BUSINESS AND FINANCE
Statistics for Business and Finance
Name of the student:
Name of the university:
Authors note:

1STATISTICS FOR BUSINESS AND FINANCE
Table of Contents
Task 1...............................................................................................................................................3
Question 1A.................................................................................................................................3
Question 1B.................................................................................................................................3
Question 1C.................................................................................................................................4
Question 1D.................................................................................................................................5
Task 2...............................................................................................................................................6
Question 2A.................................................................................................................................6
Question 2B.................................................................................................................................6
Question 2C.................................................................................................................................7
Task 3...............................................................................................................................................8
Question 3A.................................................................................................................................8
Question 3B.................................................................................................................................8
Question 3C.................................................................................................................................8
Question 3D.................................................................................................................................8
Task 4.............................................................................................................................................10
Question 4A...............................................................................................................................10
Question 4B...............................................................................................................................10
Question 4C...............................................................................................................................11

2STATISTICS FOR BUSINESS AND FINANCE
Question 4D...............................................................................................................................11
Question 4E...............................................................................................................................11
References......................................................................................................................................13

3STATISTICS FOR BUSINESS AND FINANCE
Task 1
Question 1A
As per the 200 sample drawn, simple random sampling has been used as it is believed to
eliminate biasness in the population and gives an equal chance to each and every individual to be
represented in the sample. Moreover, ransom sampling is also considered one of the widely and
popular method of choosing the sample (Brymen & Bell, 2015). However, as per my opinion it is
considered to be the best method because it is suitable for proper representation of large samples
as well as provides ease of use (Johnson & Wichern, 2014). In addition, it is based on
mathematical concept of probability and is not much extensive of the detailed information.
Question 1B
Alcohol Meals Fuel Phone
Mean 1092.39 1067.13 1790.73 1348.785
Mode 0 0 0 1200
Median 522 720 1440 1080
Standard Deviation 1372.434 1332.688 1587.192 1245.331
Standard Error 97.04572 94.23528 112.2314 88.05819
Sample Variance 1883574 1776057 2519179 1550849
Range 10428 9600 10320 8400
Minimum 0 0 0 0
Maximum 10428 9600 10320 8400
Skewness 2.360175 3.060723 1.82877 3.11862