Highlights
1. Complete all 4 tasks outlined. Read detailed requirements carefully.
Excel software and the Excel Data Analysis tool-pack should be used where indicated. Excel may also be used for any manual calculations needed. Where relevant, sufficient evidence of calculation should be given to clearly show the calculation method used and the dataset selected must also be shown in full.
Excel screenshots can be copied and pasted into Word to compile the individual submission document. It is the student’s own responsibility to ensure the final submission document is sufficiently legible. The submission should be a single ‘Word’ document for uploading to the Moodle submission link with images of Excel spreadsheets cut and pasted into the document as required. The submission document’s filename should contain the Student ID number.
2. Are apartment rents significantly different in the four regional Irish cities?
Source average monthly rents for two-bed apartments by quarter for the 10 years to Q3 2019 from the Residential Property Board (RTB) data held on the Central Statistics Office Statistic Bank. Based on the second last digit of your student number, as outlined below, use a subset of this quarterly data as samples of rents for input to a comparison of mean rents in three of the four cities (i.e. the data for three of the fours datasets for Cork City, Galway City, Limerick City and Waterford City) – selecting cities based on your Student Number as shown below..
Specify the null and alternate hypotheses to determine if there is a significant difference between the mean rents in the three cities.
Using the two-bed apartment quarterly rent data for the three selected cities, calculate the test statistic to test your hypotheses and report your result.
Report your overall outcome, clearly explain your reason for choosing this particular statistical test, your reasoning behind the process you followed, any decisions you made and any limitations on the outcome.
3. Central Statistics Office Data and Building Activity
The ‘Production in Building and Construction Index’ figures given in the Central Statistics Office data gives an indication of the level of recent Building and Construction activity in Ireland. Source the exact dataset indicated by your own Student Number (S/N) for Value or Volume of Production, and for the correct quarters indicated below.
Assuming the estimated index figure for the first relevant quarter in 2015 was 100.00 ((i.e. for Q1 2015 or Q2 2015 based on your S/N), using three different methods, make three individual forecasts of the next index figure for next relevant quarter in 2020 (i.e. for Q1 2020 or Q2 2020 based on your S/N). Compare and explain your three forecast figures.
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