Hardworking Greeks

Are Greeks the hardest workers in Europe?

Are Greeks the hardest workers in Europe?

Portfolio One: Task One



Percentage Change

2000

2002

2004

2006

2008

-0.90

-1.83

0.00

0.00

0.00

Euro Area

-0.94

1.85

0.92

-1.87

-1.90

Germany

6.00

0.99

-2.02

1.00

-4.17

Greece

0.00

-4.13

0.00

-0.83

0.00

France

0.95

-1.94

0.00

1.90

4.55

Spain

1.77

0.88

-0.88

-3.67

-0.93

UK

0.00

1.00

-2.04

-2.08

0.00

Japan

-1.42

2.08

-2.13

-2.17

4.17

USA



Overall Percentage change from 2000 to 2010

Euro Area

-2.75229

Germany

-1.90476

Greece

2.083333

France

-5

Spain

5.454545

UK

-2.77778

Japan

-3.125

USA

0.694444

Greece has the highest changing percentage growth i.e. 6% between the years 2000 to 2002 and also it has the smallest changing percentage growth i.e. -4.17% between the years 2002 to 2004.



The productivity and growth in UK shows a clear and concise pattern i.e. it increases from 2000 and reached to its top in the year 2004 and then started declining in a continuous manner whereas the growth of USA, Greece and Japan are little deviating throughout the decade and therefore we cannot analyze the forecasting easily.

4.B. The changes that occur after changing the axis range is that it just zoom the graph further and therefore we can see the variations more clearly which could not be seen keeping the minimum value zero.

The analysis of the BBC article are very much true and that can be seen in the year 2000 to 2002 where Greece faces the highest growth in the world i.e. 6% and also Greece has the most highly average growth rates in the world during these 10 years.

Portfolio One: Task Two

Minimum

0

Maximum

7

Range

7

Arithmetic mean

3.233333

Median

3

Mode

2

Standard deviation

2.029

Coefficient of variation

 Cannot be determined as it require Two variables

Standard Deviation

The use of standard deviation in statistics is to determine the deviation of data from the mean. It is the most basic but one of the most important tools in statistics as after so many unique tools this is still used in the analysis.

Coefficient of Variation

Statistics shows the correlation between two variables and indicates the strength of the link with a criterion of relationship, called the correlation coefficient. This ratio is always denoted by a Latin letter R, can take values between -1 and +1, and if the value is closer to 1, it indicates a strong connection, and if close to 0, then the weak. If the correlation coefficient is negative, it means the presence of the opposite relation: the higher the value of one variable, the lower the value of another. The power connection is also characterized and the absolute value of the correlation coefficient.

Portfolio One: Task Three

 

Quarters

Sales

Estimated Sales

Average Estimates/Quarter

2008

1

121

86.397

96.9675

2

78

93.444

3

65

100.491

4

107

107.538

2009

5

150

114.585

125.1555

6

105

121.632

7

99

128.679

8

142

135.726

2010

9

188

142.773

153.3435

10

132

149.82

11

123

156.867

12

177

163.914

2011

13

211

170.961

181.5315

14

166

178.008

15

155

185.055

16

209

192.102

2012

17

 

199.149

209.7195

18

 

206.196

19

 

213.243

20

 

220.29

The following assumptions have been made while applying the time series analysis on the forecasted sales:

Normality of Distributions of Residuals.

Homogeneity of Variance and Zero Mean of Residuals.

Independence of Residuals.

Absence of Outliers.

Portfolio ...