MAS21190 - Foundation Skills in Data Analysis - Computer Science - Report Writing Assignment Help

MAS21190 Foundation Skills in Data Analysis  Computer Science Report Writing Assignment Help

Assessment Task:

Scenario
Emma Thomson, a data analyst in the Research and Analysis Group at Financial Review Magazine is often required to report outcomes of data analysis to senior editors at the Magazine. Primary role of the Research and Analysis Group is to evaluate new financial products and services and provide advice on matters affecting the
company. Of specific interest to Financial Review magazine is the increasing numbers of companies that offer brokerage services for car insurance and potentially what this means for consumers. An insurance broker is an independent insurance agent who works with many insurance companies to find the very best available
policies for his or her customers. Most of these brokers are advertising that they are able to save owners of motor vehicles hundreds of dollars each year on insurance.
Paul Anderson, one of the senior editors of Financial Review Magazine has written to you, Emma Thomsonm regarding the recently purchased dataset concerning car insurance brokerage services. His memo is reproduced below:

Memorandum

1. Can you provide me with an overall summary of how much brokers have saved consumers on annual car insurance premiums?

2. I am also interested in the performance of individual brokers i.e. ability of the insurance broker to save on the car insurance premium. Are there substantial differences in their performance?

3. How satisfied are customers with the brokering service? In addition, can you further analyse to see whether factors such as gender (Male vs. Female) and area they live in (Rural vs. Urban) affect how customers rate their brokering services?

4. I would like to see whether factors listed below provide any explanation in the variation of current insurance premiums. A short description of the relationship would be fine.
• Car Age
• Car Value
• License Held (Years)
• Excess

I realise that the survey relates to a random sample of just 400 customers, and that this information
can be used to draw inferences about all customers who use the service of brokerage services to find
car insurance products for them. With that in mind, I hope you are able to provide me with answers to
the following questions:

5. Can you provide an estimate of the average saving of car insurance premiums for all customers?

6. Can you provide me with an estimate of the proportion of all customers who are worse off (i.e. loss making) using a broker?

7. Some prominent business commentators argue that the average savings on car insurance premiums has gradually declined during the last two years. The National Insurance Brokers Association’s report two years ago stated that the average savings on car insurance premium is around $260. Is there any evidence to suggest that the average savings on car insurance premiums has decreased?

8. A recent study suggests that males are less likely to seek the services of an insurance broker than females. The study asserts that the proportion of males that use car insurance brokers is no more than 40%. Can you check whether this claim can also be substantiated?

9. Finally, for a follow up article, I wish to sample enough customers to estimate the average amount brokers save on car insurance premiums to within $50 and the proportion of comprehensive insurance policies to within 5%. How many customers would we need to survey in order to satisfy both of these requirements?

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