Skewness Measures the Asymmetry of the Probability Distribution of a Random Variable - Statistics Assignment Help

Assignment Task:

Task:

Part 1: Questions regarding the Data:

Do we treat the data as a sample or a population?

The data is sample data not population data.

Part 2: Questions regarding the report, excel file, Part B brief, and submission

What should be included in the excel and what should be on the report?

Detailed workings should be in the excel, for example, the workings by the 2nd method for Q1. You should provide a big picture of the summary statistics of wage and interpretation in the report.

For Q5-7: you shall summarise the key assumptions (if any), key steps, final answers/conclusions, any useful diagrams (if any), and interpretations within the report. You do not need do these questions in the excel.

Sometimes students will respond to a question by saying: please refer to the excel file for more details. The statement “Do not refer to the excel workbook within the professional report” simply asks students NOT to do this. You need to extract the key information from the excel workings and then present them in the report. If the readers wish to know more about the data and methodology, they can refer to the excel.

Is there any word limit for the Part A?

NO. the most important thing is to ensure that your executive summary, introduction, main text contains the key elements required in the template for the report.

Does 10-page (excluding cover sheet) limit apply to Part A or Parts A+B?

The limit applies to Part A only.

Do you provide a template for the ministerial brief?

we provide a note on how to write a ministerial brief on Canvas.

What are references?

Any articles, newspapers, or journal papers that you might have read in preparation for the report.

Do we submit Par A and Part B via separate document?

No. combine them into one single document. Eventually, you will need to submit just two documents: one main report (part A and part B) and one excel file (do Not just attach a link to your excel as sometimes we cannot open it via the link).

Part 3: Questions regarding Q1:

For Q1, what is the 2nd method you are referring to?

Please refer to the week 2 tutorial on Topic 1, where we calculate the statistics such as mean, mode, median etc step by step (2nd method) and then replicate them using the tool analysis pack (1st method). The week 2 tutorial questions also shed light on the histogram.

Note that you are permitted to use functions such as SUM but not functions such as AVERAGE, MEDIAN etc. which is we call hard-wired functions.

I notice that when using analysis toolpak for calculating descriptive statistics there are things called kurtosis and skewness. What are these? Do we need to calculate these?

Kurtosis measures the tail size of the distribution whereas skewness measures the asymmetry of the probability distribution of a random variable. These are beyond the scope of the subject; hence you do not need to calculate these. You also do not need to calculate standard error because this was not taught in Topic 1.

For question 1 what variable do we focus on?

Wage variable only, as it states in the assignment handout.

In generating the histogram, do I have to choose 5 bins?

No. It is your choice. As long as your histogram can reasonably well reflects the overall distribution of your data, it is sufficient.

Part 4: Questions regarding Q4:

Can you clarify on the meaning of “characteristics”?

Think it as demographic, social economic variables for the employees.

Part 5: Questions regarding Q5-7

Do we solve them in the excel or manually?

I prefer you solve them manually. But you don’t need to show every single detail in the report. You need to present the key steps, final answers, interpretations, and diagram/assumptions (if any) in your report.

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