Quantitative Methods for Business - Business Assignment Help

Assignment Task:

Please ensure the following details included in your assignment to avoid a reduction in marks.

1. Completed Assignment Cover Sheet.
2. Completed Assignment Feedback Form.
3. Please use Times New Roman with a font size of 12. Every page should be numbered.
4. All Excel outputs should be copied and pasted in onto the Microsoft Word document. No handwritten answers will be accepted.
5. All charts and graphs must be properly labelled. Assignment submitted should be presentable, neat and organized.

QUESTION

Assume that you are interested in buying a house in Klang Valley and have randomly collected 75 residents and the data extracted is as attached. Below are the variables that are applicable in your study:

Price (Price of the house in RM000)
Bedrooms (Number of bedrooms in a house)
Size (Size of the house in square feet)

Part I:

(a) Obtain the descriptive statistics for the number of bedrooms by the price of the house.

(b) Create frequency distributions and draw appropriate diagrams for the price of the houses and the number of bedrooms, separately.

Part II:

By using correlation and regression analysis in Excel, display the output for the number of bedrooms by the price of the house. Your analysis should include a scatter plot of the data (complete with best fit line and explanation of the graph). Develop the statistical model for this analysis. Assess the statistical significance of the model.

Part III:

Write a report about your investigation. Give a brief introduction of your data (including the variables). Interpret your results from part I and II. All the graphs given above should be interpreted as well. Based on your investigation, do you think the assumed independent variable explains well your dependent variable? What are the other possible factors affecting your dependent variable? Discuss any limitations you have regarding using this technique for your investigation.

Part IV:

Explain what regression and correlation mean and how it can be used in real life. Include examples that will support your explanation.

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