Trimester

Unit Code

Unit Title

Assessment Type

Assessment Title

of

the

Purpose

assessment (with ULO

Mapping)

Weight

Total Marks

Word limit

Due Date

Submission

Guidelines

Assessment Details and Submission Guidelines

T3 2019

HAIOII

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Applied Quantitative Methods

Assessment 2

Group Assignment

Students are required to show the understanding of the principles and techniques of

business research and statistical analysis taught in the course.

40 % of the total assessments

40

No more than 4000 words

Week 10

All work must be submitted on Blackboard by the due date along with a completed

Assignment Cover Page.

The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm

margins on all four sides of your page with appropriate section headings and page

numbers.

Reference sources must be cited in the text of the report, and listed appropriately

at the end in a reference list using Harvard referencing style.

Assignment Specifications

Purpose:

This assignment aims at Understand various qualitative and quantitative research methodologies and

techniques, and Other general purposes are:

1.

2.

3.

4.

5.

Summarise numerical data and present it both by means of tables and charts

Be able to calculate and interpret descriptive summary measures

Develop simple regression models and interpret the regression coefficients

Understand basic probability concepts

Understand when to apply different distributions, their properties and how to calculate associated

probabilities

Assignment Structure should be as the following:

This is an applied assignment. Students have to show that they understand the principles and techniques

taught in this course. Therefore students are expected to show all the workings, and all problems must be

completed in the format taught in class, the lecture notes or prescribed text Any problems not done

in the prescribed format will not be marked, regardless of the ultimate correctness of the answer.

(Note: The questions and the necessary data are provided under -Assignment and Due date- in the

Blackboard.)

Instructions:

• Your assignment must be submitted in WORD format only!

• When answering questions, wherever required, you should copy/cut and paste the Excel output (e.g.,

plots, regression output etc) to show your working/output.

Submit your assignment through Safe-Assign in the course website, under the Assignments and due

dates, Assignment Final Submission before the due date.

You are required to keep an electronic copy of your submitted assignment to re-submit, in case the

original submission is failed and/or you are asked to resubmit.

Please check your email prior to reporting your assignment mark regularly for possible communications

due to failure in your submission.

Important Notice:

All assignments submitted undergo plagiarism checking; if found to have cheated, all involving

submissions

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would receive a mark of zero for this assessment item.

HAIOII APPLIED QUANTITATIVE METHODS GROUP ASSIGNMENT

Page 4 Of 8

Attempt all the questions (5×8 = 40 Marks)

question 1

Financial analysts reviewing travel and entertainment costs might have the business objective of

determining whether meal costs at city restaurants differ from meal costs at suburban restaurants.

They collect data from a sample of 50 city restaurants and from a sample of 50 suburban restaurants

for the cost of one meal (in S).

City Restaurant Meal Costs:

25

28

51

53

61

51

61

28

36

74

51

66

62

52

67

Suburban Restaurant Meal Costs:

33

41

45

55

61

31

40

28

32

70

46

37

30

49

74

63

27

86

55

43

50

47

52

55

43

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45

42

55

29

51

56

36

30

40

51

44

46

80

60

40

49

46

52

60

40

45

55

49

42

43

46

46

42

42

43

49

27

36

42

53

38

54

46

27

53

79

32

39

41

90

46

39

39

41

80

55

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40

30

51

90

34

39

31

48

89

Tasks:

a.

b.

c.

Construct a frequency distribution for both type of restaurants using 10 classes, stating the

Frequency, Relative Frequency, Cumulative Relative Frequency and Class Midpoint.

Using (a), construct a histogram for both types of restaurants.

(3 marks)

(2 marks)

Based upon the raw data, what is the mean, median and mode for types of restaurants?

(3 marks)

question 2

You are the manager of a supermarket and concerned about a forthcoming reduction in the annual

advertising budget proposed by the owner. You manage many products that all require separate

marketing strategies, predominantly supported by advertising. To justify your request for a higher

advertising budget, you collected data on annual sales and annual advertising expenditure.

Product Annual Sales ($I(XX))

1

2

3

4

5

150

150

190

130

120

Annual Advertising Expenditure ($I(XX))

60

60

100

30

20

6

7

8

9

10

11

12

Tasks:

a.

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b.

c.

d.

110

160

180

180

150

160

140

20

30

70

90

40

30

60

Is above a population or a sample? Explain the difference.

Calculate the standard deviation of the annual sales. Show your workings.

Page 5 of 8

(2 marks)

(2 marks)

Calculate the Inter Quartile Range (IQR) of the annual advertising expenditure. When is the

IQR more useful than the standard deviation? (Give an example based upon annual

advertising expenditure.)

Calculate the correlation coefficient. Interpret the correlation coefficient.

(2 marks)

(2 marks)

Question 3

(We are using the same data set we used in Question 2)

You are the manager of a supermarket and concerned about a forthcoming reduction in the annual

advertising budget proposed by the owner. You manage many products that all require separate

marketing strategies, predominantly supported by advertising. To justify your request for a higher

advertising budget, you collected data on annual sales and annual advertising expenditure.

Product Annual Sales ($1000)

1

2

3

4

5

6

7

8

9

10

11

12

Tasks:

a.

b.

c.

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150

150

190

130

120

110

160

180

180

150

160

140

Annual Advertising Expenditure ($1000)

60

60

100

30

20

20

30

70

90

40

30

60

Explain how you select dependent variable (Y) and independent variable (X) between annual

sales and annual advertising expenditure.

(2 marks)

Calculate AND interpret the Regression Equation (Interpret slope and intercept). You are

welcome to use Excel to check your calculations, but you must first do them by hand. Show

your workings.

Calculate AND interpret the Coefficient of Determination.

(3 marks)

(3 marks)

guesuon 4

You are the manager of the Holmes Hounds Big Bash League cricket team. Some of your players are

recruited in-house (that is, from the Holmes students) and some are bribed to come over from other

teams. You have 2 coaches. One believes in scientific training in computerised gyms, and the other

in -grassroots- training such as practising at the local park with the neighbourhood kids or swimming

and surfing at Main Beach for 2 hours in the mornings for fitness. The table below was compiled:

Recruited from Holmes

students

External recruitment

Tasks (show all your workings):

Scientific training

18

35

Grassroots training

72

12

a.

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b.

c.

d.

What is the probability that a randomly chosen player will be from Holmes OR receiving

Grassroots training?

(2 marks)

What is the probability that a randomly selected player will be External AND be in scientific

training?

(2 marks)

Given that a player is from Holmes, what is the probability that he is in scientific training?

(2 marks)

Is training independent from recruitment? Show your calculations and then explain in your

own words what it means.

Question 5

(2 marks)

You are an investment manager for a hedge fund. There are currently a lot of rumours going around

about the -hot- property market on the Gold Coast, and some of your investors want you to set up

a fund specialising in Surfers Paradise apartments.

Last Saturday you attended an auction to get -a feel- for the local real estate market. You decide it

might be worth further investigating. You ask one of your interns to take a quick sample of 50

properties that have been sold during the last few months. Your previous research indicated an

average price of $0.9 million but the average price of your assistant’s sample was only $850

However, the standard deviation for her research was the same as yours at $270 000.

Tasks (show your workings):

A.

B.

Since the apartments on Surfers Paradise are a mix of cheap older and more expensive new

apartments, you know the distribution is NOT normal. Can you still use a Z-distribution to test

your assistant’s research findings against yours? Why, or why not?

(3 marks)

You have over 2 000 investors in your fund. You and your assistant phone 35 of them to ask

if they are willing to invest more than $1 million (each) to the proposed new fund. Only 9 say

that they would, but you need at least 30% of your investors to participate to make the fund

profitable. Based on your sample of 35 investors, what is the probability that 30% of the

investors would be willing to commit $1 million or more to the fund?

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