STA510 : Business Statistics Computer Applications - Statistics Assignment Help

Assignment Task:

TASK:

Assume that you are a research analyst in a business firm. Your team leader has given you a research task to investigate whether the Private Gross Fixed Capital Formation (on Machinery and Equipment) in Australia is a good predictor of the Gross Domestic Production of the country. Using the link given below, download the data on the following two variables from the Australian Bureau of Statistics (ABS) website and answer the questions 1-6. Data link: http://www.abs.gov.au/AUSSTATS/abs@.nsf/viewcontent?readform&view=ProductsbyCatalogue& Action=expandwithheader&Num=1 (ABS Catalogue Number: 52: National Accounts>>5206.0 Australian National Accounts: National Income, Expenditure and Product. >> data downloads >> Table

3. Expenditure on Gross Domestic Product (GDP), Current prices Excel sheet)> Data1 sheet Variables: (A) PRIVATE GROSS FIXED CAPITAL FORMATION - MACHINERY AND EQUIPMENT - Total (original) in $ Millions; - quarterly data (Series ID A2302532K) from March 1986 to December 2020. (B) GROSS DOMESTIC PRODUCT: (original) in $ Millions; - quarterly data (Series ID A2302467A) from March 1986 to December 2020.

1. Download data (in excel format) for PRIVATE GROSS FIXED CAPITAL FORMATION - MACHINERY AND EQUIPMENT (GFCF) and GROSS DOMESTIC PRODUCT (GDP) for the period March 1986 to December 2020 from the above website to carry out Tasks 2-6. Display a screenshot of first 10 rows of the dataset. (1 mark)

2. Using appropriate graphical descriptive techniques (in Excel): (a) describe the movements of two data series GFCF and GDP.

(b) analyse the relationship between the two variables, GFCF and GDP. (4 marks)

3. Using appropriate numerical descriptive methods (in Excel):

(a) summarize the above two data series, GFCF and GDP.

(b) comment on the strength and the direction of the relationship between GFCF and GDP.

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