HIM6007 Statistics for Business Decisions Assessment

Group Assignment

Group Assignment Guidelines and Specifications

PART A (20 marks)

Assume your group is the data analytics team in a renowned Australian company. The company offers its assistance to a distinct group of clients, including (but not limited to) public listed companies, small businesses, and educational institutions. The company has undertaken several data analysis projects, all based on multiple regression analysis. One such project is related to the real estate market in Australia, and the team needs to answer the following research question based on their analysis.

Research question:

How do different factors, such as the size of the land, the number of bedrooms, the distance to the nearest secondary school, and the number of garage spaces, influence the selling price of residential properties?

Task 

Create a data set (in Excel) that satisfies the following conditions. (You are required to upload the data file separately).

• Minimum number of observations – 100 observations.
• The data set should be based on houses soldfrom 01/07/2024 onwards. (To verify the data set, you are required to add a hyperlink to each property's details from the real estate websites that you used.)

(5 marks)

Questions

Conduct a descriptive statistical analysis in Excel using the data analysis tool. Create a table that includes the following descriptive statistics for each variable in your data set: mean, median, mode, variance, standard deviation, skewness, kurtosis, and coefficient of variation. (4 marks)

1. Provide a brief commentary on the descriptive statistics you calculated. Describe the characteristics of the distribution for each variable based on these statistics. (4 marks)
2. Create an appropriate graph to illustrate the distribution of the number of bedrooms in your data set. (2 marks)
3. Derive a suitable graph to represent the relationship between the dependent variable and the land size in your data set and comment on the identified relationship. (3 marks)
4. Based on the data set, perform correlation analysis, and based on the correlation coefficients in the correlation output, assess the correlation between explanatory variables and check for the possibility of multi collinearity . (2 marks)

Part B (15 marks)

Assume your group is the data analytics team in a renowned Australian company (CSIRO). You are given the dataset derived from their recent research. This data compiles fortnightly observations of Logan’s Dam, a small body of water located near Gatton, in Southeast Queensland. It consists of measurements taken by CSIRO and the Urban Water Security Research Alliance with the intention of measuring the impact of the application of an evaporation-reducing monolayer on the dam’s surface.

The measurements recorded indicate the biomasses present (P.plankton and Crustacean) in the dam, chemicals present in the dam (Ammonia and Phosphorus) , as well as more general measures of water quality such as pH and temperature.

Research Question:

What are the factors (variables) that significantly impact on the health of the dam in relation to water Turbidity, and what measures should be taken to ensure its effective maintenance?

Task 

Note: Refer the data given the excel file “HIM6007 T3 Dam_Water_Quality_Dataset”

Based on the data set, perform regression analysis and correlation analysis, and answer the questions given below. (Hint: Turbidity as dependent variable)

1. Derive the multiple regression equation. (2 marks)
2. Interpret the meaning of all the coefficients in the regression equation. (3 marks)
3. Interpret the calculated coefficient of determination. (2 marks)
4. At a 5% significance level, test the overall model significance. (2 marks)
5. At a 5% significance level, assess the significance of the independent variables in the model. (3 marks)
6. Based on the correlation coefficients in the correlation output, assess the correlation between explanatory variables and check for the possibility of multicollinearity. (3 marks)

PART C (5 marks)

1. Based on the answers in PART A above, write a summary of your analysis addressing the research question (100 -150 words). (3 marks)
2. Based on the answers in PART B above, write a summary of your analysis addressing the research question (100 words). (2 marks)

Marking criteria

Marking Rubric

Your final submission is due Friday of week ten before midnight.

The following penalties will apply:

1. Late submissions -5% per day.
   1. No cover sheet OR inaccuracies on the cover sheet -10%
   2. No title page -10%
   3. Inaccuracies in referencing OR incomplete referencing OR not in Holmes-adapted-Harvard style -10%

Student Assessment Citation and Referencing Rules

Holmes has implemented a revised Harvard approach to referencing. The following rules apply:

1. Reference sources in assignments are limited to sources that provide full-text access to the source's content for lecturers and markers.

1. The reference list must be located on a separate page at the end of the essay and titled: "References".

1. The reference list must include the details of all the in-text citations, arranged A-Z alphabetically by author's surname with each reference numbered (1 to 10, etc.) and each reference MUST include a hyperlink to the full text of the cited reference source.

   For example:

Hawking, P., McCarthy, B. & Stein, A. 2004. Second Wave ERP Education, Journal of Information Systems Education, Fall, http://jise.org/Volume15/n3/JISEv15n3p327.pdf

1. All assignments must include in-text citations to the listed references. These must include the surname of the author/s or name of the authoring body, year of publication, page number of the content, and paragraph where the content can be found. For example, "The company decided to implement an enterprise-wide data warehouse business intelligence strategy (Hawking et al., 2004, p3(4))."

Non-Adherence to Referencing Rules

Where students do not follow the above rules, penalties apply:

1. For students who submit assignments that do not comply with all aspects of the rules, a 10% penalty will be applied.
2. Students who do not comply with guidelines BUT their citations are 'fake' will be reported for academic misconduct.

Academic Integrity

Holmes Institute is committed to ensuring and upholding Academic integrity, as Academic Integrity is integral to maintaining academic quality and the reputation of Holmes' graduates. Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these resources can also be found through the Study Sills link on Blackboard.

Academic Integrity breaches are a serious offence punishable by penalties that may range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment.

Table 1: Six categories of Academic Integrity breaches

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