Statistics for Financial Decisions - Quantitative Evaluation - Statistics Assignment Help

Assignment Task:

Learning Outcomes

This assessment addresses the following subject learning outcomes: 

a) Examine the statistical techniques for the quantitative evaluation of data in decision making for accounting, finance and business applications.

b) Identify and apply appropriate statistical techniques to the problems and challenges.

c) Students will develop analytical and statistical skills through Excel data analysis to manipulate data into meaningful information for the purpose of decision making.

d) Select and apply a range of data analysis tools to inform problem solving and decision making.

e) Conduct quantitative research, articulate and present findings to a wide range of stakeholders, from accounting and non- accounting backgrounds. 

Assessment tasks: The variables for this assignment are as follows: 

Task 1: Selecting your Random Sample and Creating your Sample Data File  

In order to select the sample data that will form the basis of your assignment you will need to make use of the random number table provided with this assignment. The provided table of random numbers is, as the title suggests, a sequence of randomly generated numerical digits (0 to 9). These digits are arranged in a table with one hundred rows numbered 01 to 00 and twenty columns spread over two pages. The entries in each column of each row consist of five single digits. 

The property data from which you will select your sample data consists of 400 IDs each with an identifying property number (PN) ranging from 1 (or 001) to 400. 

Your first task is to select 50 three digit random (property) numbers ranging from 001 to 400 from the provided table of random numbers. We will ask you to select 50 numbers, to begin with, just to cover the distinct possibility that you may select the same three digit number more than once. The type of simple random sampling that we will be engaged in here is termed “without replacement” because we specifically do not want to allow a property identification number to be selected more than once. 

In order to select your 50 random property identification numbers you will need to first go to a starting position row and column in the random number table. Defined by the last three digits of your Torrens University student identification number. The last two digits of your Torrens ID number identifies the row and the third last digit identifies the column of your (relatively) “unique” starting position. 

For the demonstration last three digits of 312, reading across row 12 from left to right starting at column 3 as instructed, you would encounter the following three digit numbers; 

You need to record these first three acceptable ID numbers, 293, 313, 381 and 349 into the first column of an Excel spread-sheet and then continue this process until fifty valid three-digit personal identification numbers selected. 

Task 2: 

1. Provide the complete summary statistics for Market Price ($000) and Age of house 

 2. Describe the shape of the distributions for Market Price ($000) and Age of house (years). 

3. Test whether the population’s average Market Price ($000) is different from 777. 

4. Construct a 95% confidence interval for the Market Price ($000), also Interpret the confidence interval. 

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