MIS770: Foundation Skills in Data Analysis - Nick Black Case Study Assessment Answer

Internal Code: 1AGIHD Code: MIS770

Foundation Skills in Data Analysis Assessment Answer

Assignment Task: Nick Black Case Study -  MIS770 You are Nick Black, a specialist analyst for Business Intelligence (BI). BI are data analytics research service consultants that provide data modelling solutions to large organisations and governments, as well as supporting various niche research projects across a variety of industry sectors. Australian rural communities make a considerable contribution to the Australian economy yet very little research has been done on the specific business communities that support the rural sector. For example, little is known about the market place confidence and expectation of businesses that exist in the townships that support these rural communities. MIS770 BI has been contracted because some rural municipal authorities have identified a need to focus expenditure and related activities to assist in business growth. One such municipal authority is the Ballarat City Council. In an effort to understand the marketplace confidence of the Ballarat businesses that support their local community, BI has taken a random sample of 150 businesses in the region. As well as asking them for useful demographic characteristics, BI have asked questions about trading patterns, business confidence and business expectations. You have received an email from the Ballarat City Council that contains specific questions that you must answer. MIS770 Dear Nick, With the exception of the first question, in which I only require a summary of the sample data, please provide conclusions for all of our regional businesses. That is, I have been led to believe that because your data was collected randomly, you can use your dataset to make inferences about all of our regional businesses. With that in mind, I hope you are able to assist me. MIS770 1. Can you provide an overview of the number of people that local businesses employ in our region? 2. Can you estimate the proportion of all businesses in our region that do have a growth strategy? 3. The Creswick/Clunes Chamber of Commerce recently indicated that the proportion of businesses registered in their region that do have a growth strategy was 76%. They then went on to suggest in a confidential report that any proportion less than this value contributed to a significant reduction in the revenue generated in the region. MIS770 a. Is there any evidence to suggest that the proportion of our local businesses that do have a growth strategy could be less than this suggested figure and thus impacting on revenue in our region? b. Can you estimate the average number of staff for businesses with and without a growth strategy and can we, therefore, conclude that businesses with a growth strategy have a higher number of employees on average, and might, therefore, be more successful? MIS770 4. I have been told that our local business managers are rather young. This seems at odds with a recent report that stated the average age of managers in Australian businesses was 50 years of age. Can you please determine if the average age of our local business managers is indeed less than 50 years? MIS770 5. Over the years we have observed that an average of 10 businesses open each year. What is the likelihood that next year: MIS770 a. More than 15 businesses will open? b. The number of businesses that open will be 5 or less? 6. Finally, when we conduct this survey again next year, we would like to be able to: MIS770 a. Estimate the average number of people that local business employ to within 4 employees, and, b. Estimate the percentage of business with a growth strategy to within 2%.

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