Reference no: EM133856000 , Length: word count:2500

Statistics and Applied Analytics

Country - Marzahn

Assessment - Applied Analytics Case Study

Learning Outcome 1: Analyse and present data graphically and critically evaluate summary statistics using EXCEL.

Learning Outcome 2: Justify data analysis methods to simple and multiple regression, and probability.

Learning Outcome 3: Apply a range of data analysis tools to inform problem solving and support business decision making.

Learning Outcome 4: Present findings from quantitative research to a wide range of stakeholders from diverse industries.

Assessment Task
This assessment task requires you to perform statistical analysis using Excel on the data you collect by applying statistical knowledge and skills you have learnt in Module 1 to Module 6. You are required to specify descriptive and inferential statistics, analyse, interpret and discuss the output using various statistical techniques.

Context
This assessment gives you the opportunity to demonstrate your ability to use the Statistical Analysis ToolPak, a Data Analysis software to perform complex data analysis. You will illustrate your knowledge of descriptive statistics, inferential statistics and predictive analytics using Excel Data Analysis. Get Professional Assignment Help Service Now!

Instructions
You are required to collect data on Happiness score for 25 countries for a particular year. Your learning facilitator will assign you the countries and year of collection. You need to collect the following variables: happiness score, GDP per capita (‘000 USD), inflation rate (%), average values of family/social support, life expectancy (years), freedom to make life choices, perceptions of corruption, and generosity. You could obtain the data for these variables from the sources mentioned below.

You must include Research Methodology where you explain specific sources for the variables.

Name of variable Source
Happiness score Kaggle, IMF or World Bank or Euromonitor
GDP per capita Kaggle, IMF or World Bank or Euromonitor
Inflation rate Kaggle, IMF or World Bank or Euromonitor
Family/social support Kaggle, IMF or World Bank or Euromonitor
Freedom Kaggle, IMF or World Bank or Euromonitor
Life expectancy Kaggle, IMF or World Bank or Euromonitor
Perceptions of corruption Kaggle, IMF or World Bank or Euromonitor
Generosity Kaggle, IMF or World Bank or Euromonitor

Assessment Tasks

Shapes, Descriptive Statistics, Central Tendency, Quartiles

Identify and explain the shapes of the distribution for the Happiness score, GDP per capita, Inflation rate, and Life expectancy using appropriate graphical techniques.

Explain information from descriptive summary statistics obtained from Excel Data Analysis of the four variables.

Identify if there any outliers in the aforementioned variables. Using box-plot diagrams, confirm the shapes you identified in part (a) and explain how the shapes of the distributions are influenced by measures of central tendency and measures of spread of those four variables.

Section 2: Hypotheses Testing and Confidence Interval

A Sociologist in a reputed university believes that the average value of the Happiness score for the assigned 25 countries should be equal to the average value of the top 15 countries.

Using the average value of the Happiness Index, and the claim made above, perform a hypothesis testing at a 5% level of significance to assess whether the Sociologist's claim is true.
Calculate and interpret the 95% confidence interval for the true mean of the Happiness score.

A policy maker from an international organisation is arguing that no meaningful progress has been made in GDP per capita by the last 15 countries on the dataset. Specifically, she argues that the top 10 countries are no different from the bottom 15 countries when GDP per capita figures are analysed.

Assuming that the population variances for GDP per capita in these two samples are considered equal, perform an appropriate hypothesis test, at 95% confidence to determine whether there is a significant difference in the average GDP per capita in these two samples.
Determine the 95% confidence interval for the difference in means and interpret the resulting bound.

Section 3: Simple Linear Regression Analyses

Draw a scatter plot diagram with Happiness score and GDP per capita. Briefly describe the scatter plot diagram.
Perform a simple linear regression analysis in Excel, present the results, write out the regression equation and interprete the coefficients.
Perform a hypothesis test at the 5% significance level to determine if there is a relationship between the Happiness score and GDP per capita.

Provide the lower and upper limits of the 95% confidence interval for the slope of the simple regression model in (iii) and explain the meaning of the confidence interval.
Assuming an GDP per capita is 5.3 (‘000 USD) in the coming year, what is the predicted Happiness score for the upcoming year? Explain.

Section 4: Multiple Linear Regression Analyses

Using the Regression function in Excel, perform a multiple linear regression analysis to determine a model to predict happiness score based on GDP per capita (‘000 USD), inflation rate (%), average values of family/social support, life expectancy (years), freedom to make life choices, perceptions of corruption, and generosity. State the predicted multiple regression equation and interpret the regression coefficients for significant variables only.

Using relevant output from the Regression Analysis, at the 5% level of significance perform hypothesis testing.
Provide reasonable comments on the confidence intervals for average values of family/social support, life expectancy (years), freedom to make life choices, and inflation rate from the Regression output.

From the analysis of the Regression results, provide an explanation of what you consider as the most appropriate regression model for this set of data. You are also expected to do some research on other factors (variables) that should have been included as independent variables to explain the happiness score.

Structure and Referencing

You are supposed to prepare a report according to the acceptable report format. It is essential that you clearly and effectively communicate your professional writing skills through the said report format and correct use of presentation and grammar. You must include a cover page, an executive summary, a table of contents, introduction, appropriate headings, and subheadings for the body of the report, conclusion, and the end a Reference list following APA 7th style. You may want to include an Appendix; however, this is not compulsory. Note that the cover page, executive summary, table of contents and references are not included in word count.

Referencing
It is essential that you use appropriate APA 7th Editionstyle for citing and referencing research.