STATISTICAL ANALYSIS

Statistical Analysis

[Name of the Institute]

Question 1

The Question 1 Worksheet of Assignment Data Workbook contains the fees charged by registered training companies for government subsidies and full-fee places within a vocational diploma course.

Use the data to answer the following questions.

(a) Compute the mean, median, first quartile, and third quartile for each variable.

 

 

Variables

 

 

Government Subsidized Fee ($)

Full Fee ($)

Mean

 

6842

17168

Median

 

6340

16340

Quartiles

1

5378

13928

 

3

8143

20134

(b) Compute the range, inter-quartile range, variance, standard deviation, and Pearson's coefficient of skewness and coefficient of variation for each variable.

 

Variable

 

Government Subsidized Fee ($)

Full Fee ($)

Std. Deviation

2212.22

4274.01

Variance

4893924.03

18270000.00

Coefficient of Skewness

1.35

0.52

Range

14466.00

20007.00

Coefficient of Variation

0.32

0.25

Inter-quartile Range

2765

6206

(c) Construct a box and whisker plot for each variable. Is either of the variables skewed? If so, how?

The variable, government subsidized fee, seems to be positively skewed because, as it seems to be inclined towards the lower side of the Inter Quartile Range, furthermore the coefficient of skewness, with the value of 1.35 also elaborates the mild positive skewness.

The variable, full fee seems to be nearly normally distributed because, as it seems to be very less inclined towards the lower side of the Inter Quartile Range, furthermore the coefficient of skewness, with the value of 0.52 also elaborates the negligible skewness and hence considered to be normally distributed.

(d) Compute the coefficient of correlation between the subsidized and full fees.

The coefficient of correlation between the subsidized and full fees is 0.491.

(e) What conclusions can you draw from the value calculated in part (d)?

Almost 50% of the correlation is explained between these two variables, this correlation is considered to be low and potentially not reliable.

Question 2

A real estate agency has collected data on the weekly rent and size of apartments for a sample of 25 Canberra Apartments. The data are included in Question 2 Worksheet of

Assignment Data Excel File available on the Moodle site. Use the data to answer the following questions.

(a) Use Excel to draw a scatter plot of the weekly rent against the size. Include your ID number as part of the Excel output in the top right hand corner of the scatter plot. It must be in the scatter plot not in the page header.

(b) Use Excel to generate the output for the regression where x = size in square meters y = weekly rent in dollars

Y = 44.86+ 2.86 X + 0.85

The Excel output is attached in the appendix at the end of the paper.

(c) Interpret the meaning of ß0 and ß1

ß0 ...