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Business Statistic and Data-Driven Decision Making
Main Assignment (Class 13A)
Assignment Due Date: 29 March 2023, 2359 hours
Weight: 100%
Assignment Instruction
• Write your full name (according to register), Student Number (CTxxxx) and class
clearly on the first page of the assignment.
• Your assignment should be type-written. You are allowed to insert your
mathematical workings as images, if require.
• Page format should follow the APA style: line spacing=1.5, font=Arial, font
size=12 and left justified.
• Include at least 8 credible resources in your Reference Page, using APA
Referencing format.
• Submit your assignment in a single MS Word document via the LMS before the
due date.
Full Name: ________________________
Student ID: ________________________
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Question 1 (25 marks)
Conduct a market survey on the price of a product (e.g., mobile phone, running
shoe, jean, potato chips, etc.) that you are interested in. You are required to collect
at least 6 records as follows:
No. Brand Model / Description Price (S$) Source / URL
1
2
3
4
5
6
(4 marks)
Calculate
a) the mean, the median and the mode.
(5 marks)
b) the standard deviation.
(6 marks)
c) the coefficient of variation.
(3 marks)
d) the quartiles and interquartile range
(7 marks)
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Question 2 (25 marks)
a) The marketing manager wants to analyse the preference on action movie for his
customers. The following table shows a summary:
Preference
Yes No Total
Gender
Male 80 20 100
Female 30 70 100
Total 110 90 200
Find the probability that a randomly selected customer who:
i. likes action movie
ii. is male and like action movie
iii. is female or like action movie
(12 marks)
b) The salary of a sales manager is normally distributed with a mean of $3500 and
standard deviation of $420.
i. Find the probability that a randomly selected manager has a salary that is
between $3,000 and $4,200?
ii. If 20 managers are randomly selected, what is the probability that their
average salary exceeds $3,750?
(13 marks)
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Question 3 (25 marks)
Use the data you have collected in Question 1 to answer the following questions.
You may assume that the price of the product is normally distributed.
a) What is the 90% confidence interval for the mean price?
(7 marks)
b) With reference to this context, explain the meaning of the confidence interval that
you have obtained.
(5 marks)
c) Conduct an appropriate hypothesis test, at the 0.05 level of significance, to
determine whether the population mean price is 10% above the value of the
sample mean you have determined.
(13 marks)
Question 4 (25 marks)
Identify a research case that is suitable for simple linear regression analysis. This
should involve a dependent variable (Y) and an independent variable (X). Collect at
least 6 pairs of data for the analysis.
a) State the dependent and independent variables. List down the data collected.
(5 marks)
b) Determine the regression equation.
(14 marks)
c) Compute and interpret the correlation coefficient.
(6 marks)
– END OF ASSIGNMENT –
