HI6007: Statistical Analysis of Australian Exports (2004-2015)

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HI6007
Statistics and Research Methods
for Business Decision Making
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Solution 1
(a) Use an appropriate graphical technique to compare the value of Australian
exports (in A$ bn) in 2004-05 and 2014-15, broken down by country of
export destination.
Country 2004-05 2014-15
China $15.90 $90.30
Japan $28.20 $46.60
United States $13.90 $20.50
Republic of Korea $11.00 $20.50
India $7.10 $12.70
New Zealand $12.20 $12.30
Singapore $5.80 $12.00
United Kingdom $9.20 $8.60
Subtotal $103.30 $223.50
China
Japan
United States
Republic of Korea
India
New Zealand
Singapore
United Kingdom
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Chart Title
Axis Title
With the help of the graph provided below a comparative analysis of Australian exports
from the year 2004 to 2015 is highlighted. With the help of this graph, it can be
interpreted that the total export chain in Australia is increased in the last few years.
Earlier in 2004, it was $103.30 but in 2014-15 the total amount was increased to
$223.50. With the increasing exports, the GDP of Australia has also increased that
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helped in nourishing the social, political and economic conditions of the society. Aside to
this, the graph has likewise helped in interpreting that China is the biggest exporter in
Australia. With the help of the bar graph, it is easily identified that China is the country
that is found participating in the major exporting activities with Australia. On the other
hand, the United Kingdom and India are the countries that are least involved in the
activities of exporting with Australia. With time the exporting process is increased in
India and has a scope of increasing more but in the United Kingdom it is decreasing
continuously (Statistics How To, 2019).
The graph is likewise helping in identifying the countries that do not have sound trade
relationships with Australia. Identification of these countries will help in evaluating the
exports of Australia and will likewise help in analyzing the economic position of the
country (Statistics How To, 2019).
(b) Use an appropriate graphical technique to compare the percentage value of
Australian exports (in %) in 2004-05 and 2014-15, broken down by country
of export destination.
Country 2004-05 2014-15
China 15% 40%
Japan 27% 21%
United States 13% 9%
Republic of Korea 11% 9%
India 7% 6%
New Zealand 12% 6%
Singapore 6% 5%
United Kingdom 9% 4%
3

China
Japan
United States
Republic of Korea
India
New Zealand
Singapore
United Kingdom
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
15%
27%
13% 11%
7%
12%
6% 9%
40%
21%
9% 9% 6% 6% 5% 4%
2004-05 2014-15
The respective bar graph is showing a comparison of the percentage of Australian
exports in regards to different countries. With the help of this bar graph, the exact
percentage of exports is showcased that will help in evaluating the exports of Australia.
With the help of this graphical presentation, the Australian economy will be able to
identify the countries that are essential for the foreign reserves and which are not. The
respective graph will help in showcasing the exact scenario of exports in Australia. With
the help of this graph, it is interpreted that China is the largest exporter of Australia and
is having a positive impact on the economy of Australia.
As per the figures of the above graph it can be seen that in 2014-15 the exports of
Australia with China is raised to 40% which is the highest of all the other nations. Aside
to this Japan is the second highest country that has increased its trade relationship with
Australia. But looking to the data it can be analyzed that the export of Japan has shown
a decrease in comparison to 2004 but still, it is highest in comparison to the other
countries (Statistics How To, 2019).
The trade relation of Australia and the United Kingdom needs improvement as the rate
of export with the respective nation is comparatively less. The rate of exports with the
UK is decreasing gradually as in 2004 it was 9% but in 2014-15 the rate has come down
to 4%.
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(c) Comment your observations in parts (a) and (b).
Country 2004-05 2014-15 Percentage
change
China $
15.90
$
90.30
25%
Japan $
28.20
$
46.60
-6%
United States $
13.90
$
20.50
-4%
Republic of Korea $
11.00
$
20.50
-2%
India $
7.10
$
12.70
-1%
New Zealand $
12.20
$
12.30
-6%
Singapore $
5.80
$
12.00
-1%
United Kingdom $
9.20
$
8.60
-5%
Subtotal $
103.30
$
223.50
China Japan United
States Republic of
Korea India New
Zealand Singapore United
Kingdom
$-
$20.00
$40.00
$60.00
$80.00
$100.00
$120.00
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
Observation
2004-05 2014-15 Percentage change
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With the help of graph shown above it is China is the nation that is affecting the GDP of
Australia in a positive manner. The Graph is showing the effect of change in the export
market on all the countries. The effect of the export market is equal on all the countries
buy china is the only country that showed the positive impact of the same. All of these
other countries have started going in the negative zone. The total export of Australis is
increased from 20014 to 2015. Earlier it was $103.30 and now the exports have
increased to $223.50. Among all the countries, China is the only country that is
increasing is the export chain with Australia. With the help of this information, it is
depicted that China is the biggest exporter in Australia and has impacted the GDP of
Australia in a significant manner.
With the help of this graph, the trade relations of China and Australia are shown in a
significant manner. With the help of this graph, it can be ascertained that there is a
sound relationship between Australia and China. China is the greatest exporter of
Australia and the percentage of exporting is continuously increasing with regards to
Australia. This likewise helps in highlighting the increment in the export chain of
Australia from the last few years. With the help of this graphical presentation, it can be
identified that the exports of Australia have shown a hike from last few years, this hike
will help in the enhancing the economic, political and social conditions of the respective
country. Increasing exports is a sign of growth and will help a country to collect the
maximum amount of foreign reserves (Statistics How To, 2019).
Apart from China, all the other countries are showing negative growth in the respective
direction. Looking forward to the negative zone it can be interpreted that New Zealand
and Japan are continuously losing their export relationships with Australia. It can prove
useful for the government of the respective country if they make useful amendments in
this direction. By making changes in the respective direction the government can
increase the chances of export growth in Australia.
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Solution 2
(a) Construct a frequency distribution and a relative frequency distribution for
the data.
Frequency distribution
Lower Upper Frequency Percent
20 < 30 0 0
30 < 40 2 5
40 < 50 4 10
50 < 60 8 20
60 < 70 11 27.5
70 < 80 8 20
80 < 90 5 12.5
90  100 2 5
Total 40 100
The table above is showing the Frequency distribution of umbrella sales. With the
help of this, the frequency of different outcomes can be judged and analyzed. With the
help of this table, the frequency of sales related to the umbrellas can be evaluated that
can help in the further decision-making process (Davidmlane, 2019).
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Relative frequency distribution
Lower Upper Relative
Frequency
Percent
20 < 30 0 0
30 < 40 0.05 5
40 < 50 0.1 10
50 < 60 0.2 20
60 < 70 0.275 27.5
70 < 80 0.2 20
80 < 90 0.125 12.5
90  100 0.05 5
Total 1 100
The table above is showing the Relative frequency distribution of umbrella sales. In
this table the relative frequency is calculated by dividing the frequency with the total
number of days i.e., 40 (Statistics How To, 2019).
(b) Construct a cumulative frequency distribution and a cumulative relative
frequency distribution for the data.
Cumulative frequency distribution
Lower upper Cumulative
Frequency
per cent
20 < 30 0 0
30 < 40 2 5
40 < 50 6 15
50 < 60 14 35
60 < 70 25 62.5
70 < 80 33 82.5
80 < 90 38 95
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90  100 40 100
With the help of above table Cumulative frequency distribution is shown of the
respective dataset. With the help of this table, the sum of classes is shown and its
percentage is calculated (Davidmlane, 2019).
Relative Cumulative frequency distribution
Lower Upper Cumulative relative
Frequency
Percent
20 < 30 0 0
30 < 40 0.05 5
40 < 50 0.15 15
50 < 60 0.35 35
60 < 70 0.63 62.5
70 < 80 0.83 82.5
80 < 90 0.95 95
90  100 1 100
With the help of the above table Relative Cumulative frequency distribution of the
given dataset is shown. Reflective cumulative frequency or RCF is calculated by
dividing the Cumulative frequency (CF) with the sum of frequency (F) (Statistics How
To, 2019).
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(c) Plot a relative frequency histogram for the data.
20 30 40 50 60 70 80 90 100
0
5
10
15
20
25
30
Histogram
Series1
The above histogram is prepared with the help of provided data ser. As per the graph, it
can be analyzed that sales are showing continuous growth until it reaches an optimum
level. After the optimum point, the sales are shown continuously decreasing. With the
help of this graph, it can be analyzed that maximum sales of the umbrellas are 60. In
the span of 40 days maximum of 60 umbrellas were sold on an average. The histogram
is based on the frequency of sales (Davidmlane, 2019). With the help of this graph, it
can be identified that the frequency of changes keeps on fluctuating it cannot remain
constant on a level (Statistics How To, 2019).
(d) Construct an ogive for the data.
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20 30 40 50 60 70 80 90 100
0
20
40
60
80
100
120
Ogive
Series1
Ogive is a cumulative frequency graph that is prepared with the help of CF. The graph is
showing continues fluctuations. With the help of this graph, the cure of cumulative
frequency is shown which is calculated with the help of given dataset (ThoughtCo,
2019). With the help of this curve, it can be identified that initially, the curve is showing a
hike but with time it starts falling. This shows that CF remains to fluctuate it do not
remain constant at any level (Statistics How To, 2019).
(e) What proportion of the grades is less than 60?
Solution
With the use of Cumulative frequency (CF), it is seen that 35% of grades is less than 60
(f) What proportion of the grades is more than 70?
Solution
With the use of Cumulative frequency (CF), it is seen that 62.5% of grades is less than
70
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Solution 3
(a) Using an appropriate graphical descriptive measure (relevant for time
series data) describe the two variables.
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0
50000
100000
150000
200000
250000
Retail turnover per capita
FINAL CONSUMPTION
EXPENDITURE
With the help of the above graph, Final consumption expenditure and retail turnover
per capita are described. Both of these data are in regards to the economic
consultancy firm. Financial consumption expenditure shows the expenditure of
resources done for the satisfaction of individuals. Whereas, retail turnover per capita
help in showing the per capita turnover of the retailers (ThoughtCo, 2019). As per this
graph, it is shown that Financial consumption expenditure is increasing vertically
whereas the retail turnover per capita is constant vertical but is increasing on a
horizontal level (Davidmlane, 2019).
(b) Use an appropriate plot to investigate the relationship between FINAL
CONSUMPTION EXPENDITURE and RETAIL TURNOVER PER CAPITA. Briefly
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