BUSINESS STATISTICS – Assessment Task
INDIVIDUAL COMPREHENSIVE CASE STUDY
TRIMESTER 1, 2021
STA1100 BUSINESS STATISTICS
Assessment task
Due date: | Friday 28^{th} April 2021, 11.59 pm AEDT |
Weighting: | 45% |
Length: | Not more than 2,000 words |
Learning outcomes assessed: | 1, 2, 3 and 4 |
The task:
This assessment task is designed as the partial replacement of Final Examination and addressing learning outcomes from the whole of the unit syllabus as published in the Unit Outline.
Students are required to respond to the following questions:
QUESTION 1 (Show all your workings) (9 Marks)
An experiment was conducted to test the quality of a plant seed in an agricultural farm. Below data shows the number of survived plants from a sample of 50 equally designed seed beds. The principal researcher wants to prepare a quick presentation about the outcome of the experiment.
20 | 15 | 22 | 3 | 13 |
27 | 11 | 12 | 11 | 14 |
12 | 4 | 16 | 4 | 15 |
2 | 22 | 14 | 1 | 13 |
10 | 8 | 23 | 17 | 7 |
21 | 22 | 26 | 21 | 4 |
23 | 14 | 21 | 22 | 18 |
3 | 7 | 6 | 12 | 5 |
13 | 21 | 6 | 23 | 12 |
2 | 8 | 16 | 6 | 4 |
- Construct a Frequency Distribution Table with a class interval of 5 for the survived plants among those 50 seed beds using the following format. (5 marks)
Class Interval | Mid values Marks | Frequency |
0 to less than 5 | ||
5 to less than 10 | ||
10 to less than 15 | ||
15 to less than 20 | ||
20 to less than 25 |
- Compute Mean and Standard Deviation from the above table. (4 marks)
Hints: Mean = ,
Standard Deviation =
Where n = number of values or sample size
c = number of classes in the frequency distribution
m_{j} = midpoint of the j^{th} class
f_{j} = number of values in the j^{th} class]
QUESTION 2 (Show all your workings) (10 Marks)
- The Production Manager of an Australian Electric Bulb manufacturing company collected 6 boxes of Electric Bulbs with some faulty productions in each box. The table below shows the details of those boxes. Consider a sample size of 2 boxes and demonstrate the statement:
“The arithmetic mean of sample mean is an unbiased estimate of population mean”. Show all workings. (7 marks)
Boxes | Number of faulty bulbs |
A | 4 |
B | 3 |
C | 5 |
D | 2 |
E | 1 |
[Hints: Calculate Population Mean and different sample means. Then show the Mean of sample means = Population mean.]
- State the Central Limit Theorem. (3 marks)
QUESTION 3 (Show all your workings) (13 Marks)
- Define Statistical Inference and name the two Statistical Inference procedures available in Statistics? (4 Marks)
- Name the two kinds of estimator with proper example. What are the desirable characteristics of an estimator? (2 + 4 = 6 Marks)
- The physical Teacher is interested to estimate the height of the currently enrolled students in a USA college. Previous record shows the standard deviation of students’ height is 3.95 inches. He randomly collected 36 students’ heights with an average of 65.58 inches. Calculate the 95% confidence interval for the current students’ population’s height in that college. (3 Marks)
[Hints: Confidence Interval Formulae is :
and Z-value = 1.96 ]
QUESTION 4 (Show all your workings) (13 Marks)
- Explain the components of a Time Series. Write down two commonly used Time Series models. (8 + 2= 10 Marks)
- In 2010, a middle class family’s weekly diet included 5 kg of fish, 4 kg of beef and 4 kg of chicken. To cope up with the inflation all these changed in 2020 with 4 kg of chicken, 2 kg of beef, 1 kg of lamb and 3 kg of fish. The prices of each items are listed in the table below. Calculate the Paasche Price Index for 2020 using 2010 as the base year. (3 Marks)
Item | 2010 | 2020 | ||
Price ($) | Quantity (kg) | Price ($) | Quantity (kg) | |
Fish | 5 | 5 | 15 | 3 |
Chicken | 4 | 4 | 5 | 4 |
Beef | 6 | 4 | 12 | 2 |
Lamb | 4 | 0 | 6 | 1 |
[Hints:
Paasche Index =
where Q_{i}^{(0)} = quantity of item i at time period 0
and P_{i}^{(0)} = Price of item i at time period 0]
Structure of Submission
The following provides a guide to how you might structure your assignment:
Title page
Question 1- Respond all the Question
Question 2 –show all your workings
Question 3 -show all your workings
References
Appendices (if applicable)
The conditions:
- Writing assignments must not exceed the word counts indicated. Double space your pages, use a 12-pt Arial font, use 2 cm margins on all four sides of your page.
- Your assignment must include a cover page, responses to all the questions and a properly referenced bibliography.
- Evidence of extensive research beyond the prescribed text is required. Students may use the prescribed text to guide your research, but it should not be used as a primary reference source.
- Penalties may apply for late submission. Extensions will be granted only if they are supported by appropriate documentation prior to the due date. See OIHE SPECIAL CONSIDERATION POLICY.
- This assignment must be handed in via Turnitin (link provided via Moodle) for successful completion of the course and will count 25 marks towards the final mark.
- Ensure that references are appropriately acknowledged in your bibliography. Refer to OIHE ACADEMIC INTEGRITY POLICY regarding plagiarism.
- The Harvard Referencing System (author-date) should be used. [Harvard (Author-date) is based on: Commonwealth of Australia 2002, Style manual for authors, editors and printers, 6th edn, rev. Snooks & Co., John Wiley & Sons, Brisbane.]
Useful websites:
- “Harvard System of Referencing Guide”. Anglia Ruskin University. 21 May 2012. Accessed 25 July 2013.
- “Rec Cite” , “Harvard Style”. University of Melbourne. Accessed 25 July 2013.
- Chernin, Ei (1988). “The ‘Harvard system’: a mystery dispelled”, British Medical Journal. October 22, 1988, pp. 1062–1063.
Marking Rubrics
You will be assessed according to the following marking scheme:
Performance Standard | ||||||
Assessment Task Criteria | Weight | HD 80-100% | D 70-79% | C 60-69% | P 50-59% | F 0-49% |
Knowledge & understanding | 40% | · In depth, expert knowledge.
· Superior proficiency in application of knowledge to problem. |
· Expert knowledge
· Proficient application of knowledge and understanding. |
· Competent level of knowledge
· Accurate application of knowledge and understanding. |
· Superficial knowledge.
· Some inaccuracies in knowledge and understanding. |
· Lack of knowledge
· Significant inaccuracies in knowledge and understanding. |
Logic of argument(s) | 15% | · Central argument(s) expertly developed
· Topic covered in depth in a scholarly manner. |
· Central argument(s) clearly developed and supported by evidence
· Topic covered in depth and is concise and fluent. |
· Central argument(s)developed and supported by evidence
· Topic covered in depth but with some gaps, |
· Central argument(s) has been developed but not fully supported by evidence
· Progression of argument and ideas not strong. |
· Lack of central argument(s) and evidence base
· Argument incoherent and difficult to follow. |
Analysis | 30% | · Expert scholarly demonstration of critical analysis
· Conclusion draws argument in influential and scholarly manner. |
· Considerable demonstration of critical analysis
· Comprehensive and competently developed conclusion |
· Good demonstration of critical analysis
· Conclusion is logical outcome of argument(s). |
· Critical analysis partially evident but not fully developed
· Conclusion is evident but not strong. |
· Critical analysis lacking or absent.
· Conclusions poor or absent. |
Research / referencing | 15% | · Expert scholarly use of wide range of relevant sources
· Expert paraphrasing and referencing. |
· Scholarly use of wide range of relevant sources
· Good application of paraphrasing and referencing. |
· Wide use of mostly relevant reference sources
· Reasonable application of referencing. |
· Limited use of relevant references sources
· Some inaccuracies in references and in-text citations. |
· Limited research or poorly researched
· Considerable inaccuracies in references and in-text citations. |