Statistical Analysis of Export & Import Trend in Australia
Added on 2020-02-03
13 Pages2048 Words94 Views
Calculus and Analysis
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STATISTICS
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ABSTRACTThe development of statistical techniques have changes a world for data analysis anddecision making. The report proposed herewith emphasizes on adoption of range of statisticaltechniques so as to evaluate export & import trend in Australia. Further, the inflation rate ofeconomy has also been analysed. It is seen that the country possesses high level of bargainingpower due to availability of adequate amount of technical and non-technical resources. Further, alower degree of relationship is established between inflation and values of ordinaries index. Itcan be said that Australia with its focused approach of increasing exports and controllinginflation is expected to develop resources and improve life of citizens.
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Table of ContentsAbstract.................................................................................................................................................2Introduction..........................................................................................................................................5Question 1.............................................................................................................................................5(a) Indicating data into yearly......................................................................................................5(b) Discussing the most appropriate graph to present this statistics and then presenting it in agraph............................................................................................................................................6(c) Discussing emerging trends in Australia export and import prices in the last few years.......8(d) Explaining why this trend occurred in the recent years.........................................................8(e) Implication of this trend for Australian business.................................................................11Question 2...........................................................................................................................................12a) Calculating covariance & coorelation coeffficient between X & Y.....................................12(b) Relationship between all-ordinary index and inflation........................................................15(c & d) Determining the least square line and coefficient of determination R2........................16Conclusion..........................................................................................................................................17References..........................................................................................................................................19
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List of tablesTable 1: Yearly import and export prices........................................................................................5Table 2: Correlation- coefficient...................................................................................................12Table 3: Covariance.......................................................................................................................12Table 4: Calculation for Covariance..............................................................................................12Table 5: Calculation for Correlation coefficient............................................................................14List of FiguresFigure 1: Column chart: import and export prices...........................................................................7Figure 2: Trend line- Import and export prices...............................................................................7Figure 3: Australia’s exports 1963 to 1990.....................................................................................9Figure 4: Australia’s exports 1989 to 2014.....................................................................................9Figure 5: Australia’s top 5 exports then and now..........................................................................10Figure 6: Sector wise exports of Australia....................................................................................11
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