Reference no: EM132397526
BUS1BAN ANALYSING BUSINESS DATA La Trobe University, Australia
Assignment
Part A: Point Estimate and Confidence Interval
Q1. Suppose you randomly select a student from BUS1BAN class, how likely is it that the student selected will be a female student? How likely is it that the student selected will be an iPhone user?
Q2. Estimate the 99% confidence interval for the proportion of iPhone users. Show the confidence intervals graphically and interpret your results.You should show the formula and calculation by putting values in the formula.
Q3. What are the average monthly earnings of male and female students in your sample?
Q4. Provide 95% confidence interval of the average monthly earnings for each gender.Show the confidence intervals graphically and interpret your answer.You should show the formula and calculation by putting values in the formula.
Part B: Hypothesis Testing
Q5. A US market survey shows that the market share of iPhone is more than50% of the US market. Is it true for BUS1BAN students at La Trobe as well? Use your sample data to test this claim at the 5% level of significance and interpret your answer.
Note: You should label and follow the five steps of hypothesis testing procedure.
Part C: The Effect of Price on Preference
Q6. iPhone and Samsung are two important players in the smartphone market who compete against each other. Samsung’s phones are generally sold cheaper than Apple’s smartphones. Complete the following table using the survey data responses in your random sample.
Q7. Based on your Q6 results, perform a simple linear regression of variable Y on variable X using Excel.Report the Excel regression output below, and write down the linear regression equation under the Excel regression output.
Q8. Interpret the intercept, slope coefficient, and coefficient of determination in Q7. Then compute the correlation coefficient between X and Y using the value of coefficient of determination.
Q9. Based on the regression results in Q7, is there a significant relation between X and Y? Explain why.
Part D: Summary and Discussion
Q10. What are your main findings/conclusions based on the analysis in Q5-Q9 of Parts B and C.
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