Quantitative Methods for Business: Statistical Analysis Report

This assignment solution for Quantitative Methods for Business covers a range of statistical concepts and their application in business contexts. Question 1 focuses on descriptive statistics, including calculating the mean and standard deviation from grouped data, and interpreting the results. It also explores different sampling methods like simple random, quota, sample frame, and cluster sampling, along with cumulative frequency distribution. Question 2 delves into regression analysis, explaining the meaning of regression coefficients and using regression equations to determine optimal car choices for a company based on running costs and distance traveled. Question 3 involves hypothesis testing, calculating probabilities related to average time, testing for significant differences in income, and evaluating the effectiveness of a new process compared to an old one. The solution includes detailed calculations, interpretations, and relevant references to support the analysis.