L4 Quantitative Methods For Business Assignment

Assignment Task

Learning Outcomes to be achieved:

LO1. Recognise the detailed technical nature of quantitative techniques \

LO2. Explain the role of statistics as a business decision-making tool

LO3. Summarize issues in the collection and analysis of quantitative data for supporting management decision-making

LO5. State the different quantitative procedures used in the analysis of different data types

ASSESSMENT DETAILS

Congratulations! You just landed a new graduate analyst job at an exciting tech start up and, as your first task, you have been given a dataset to analyse which relates to information from customers that participated in social media advertising campaigns. The following information is available in the dataset:

Age: the age of customers

Income: customers' yearly income in £

Expenditure: customers' yearly average expenditure in tech devices in £

Usage: daily customer social media usage measured in hours/day

Country: customers’ country of residence

Device: customers' preferred device can be "mobile", "laptop" or "tablet"

Question 1. Identify which variables are quantitative and which variables are qualitative. Justify your answer.

Question 2. Comment on the symmetry of the distribution of these variables.

Question 3. Comment on the dispersion of these variables. Which variable has the highest variability?

Question 4. Give a point estimate for: the mean yearly expenditure in tech devices; the mean age of customers the mean customers’ yearly income the mean daily social media usage

Question 5. Create a confidence interval for the point estimates of the previous question. What is the meaning of these confidence intervals?

Question 6. What is the point estimate for the proportion of customers with mobile devices? Create a confidence interval for the proportion of mobile devices. What is the meaning of this confidence interval?

Question 7. Before handing you the data set, your boss believed that 26% of customers had a tablet as their preferred device. If you wish to test this hypothesis, what would be the alternative and null hypothesis be? At a confidence level of 5%, what is the conclusion of the hypothesis test?

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