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Avoid the Hustle

Business

Category: Business

Question 1 (13 marks)
Suppose University A sent out a survey in 2014 to a random sample of 280 students in Australian campuses and collected various information of them, including gender, birthday, GPA, pulse rate, the child rank in the family, the number of children in the family, the number of speed tickets, whether he/she is a smoker or not, the number of hours sleep per day, region, whether he/she lives on campus or not and whether he/she is over twenty years old. The data is reported in the Survey.xlsx data file.
(1) What is population University A is interested in?

(2) Use Microsoft Excel to conduct and present the appropriate graphic and descriptive analysis on two variables: GPA and the child rank in the family, interpret the results, and prepare a report.

(3) Suppose University A also conducted the same survey in 2013, the proportion of rural students was 0.20. They would like to know if this proportion has decreased.
• What is the appropriate statistics used here to test it?
• What are the null and alternative hypotheses for this test?
• Produce the test results using Microsoft Excel, interpret it and make a final conclusion.

(4) Suppose University A also conducted the same survey in 2013, the average time students spent in sleep per day was 7.5 hours. They would like to know if this has increased.
• What is the appropriate statistics used here to test it?
• What are the null and alternative hypotheses for this test?
• Produce the test results using Microsoft Excel, interpret it and make a final conclusion.

Suppose you want to buy a three-bedroom property in Sydney and you are interested two main suburbs (Suburb 1 and Suburb 2) but you don’t know which one has higher average price. So you determined to do a research and see whether there is a significant difference of market price in these two suburbs. You are required to:
(1) Randomly select a sample of 30 properties in Suburb 1and another 30 properties in Suburb 2 and record their market prices. Thus, a total of 60 observations are recorded in your dataset.
(2) What are populations you are interested in?
(3) Conduct your analysis using hypothesis testing method.

Note: Check the conditions for the test identified.
(4) What conclusion you can make from the results for your decision making?

Note:
• You need to replace Suburb 1 and Suburb 2 with real suburbs in Sydney, for example, NEW TOWN and HURSTVILLE.
• The price information can be collected in the website (e.g. http://www.realestate.com.au/buy).
• You need to submit your dataset together with your individual assignment.