Overview of number of people that local businesses employ

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Reference no: EM132300644

Foundation Skills in Data Analysis Assignment - Regional Business Confidence

This assignment assesses the following Graduate Learning Outcomes and related Unit Learning Outcomes:

Graduate Learning Outcome (GLO) -

Critical thinking: evaluating information using critical and analytical thinking and judgment.

Unit Learning Outcome (ULO)

Manipulate and summarise data that accurately represents real world problems.
Interpret and appraise statistical output to assist in real-world decision making.

Overview - The purpose of this assignment is to investigate a dataset which will enable you to answer questions posed in an email. In order to answer the questions posed in the email, you will need to analyse data, interpret the results, and then draw appropriate conclusions.

The aims of the assignment are to:

provide you with some examples of the application of data analysis
test your understanding of the material presented in the relevant topics
test your ability to analyse data and interpret your results
test your ability to effectively communicate your results to others

Before attempting the assignment, make sure you have prepared yourself well. At a minimum, please read the relevant sections of the prescribed textbook and review the materials provided in Modules 1 and 2.

Scenario -

You are Nick Black, a specialist analyst for Business Intelligence (BI). BI are data analytics research service consultants that provide data modelling solutions to large organisations and governments, as well as supporting various niche research projects across a variety of industry sectors. Australian rural communities make a considerable contribution to the Australian economy yet very little research has been done on the specific business communities that support the rural sector. For example, little is known about the market place confidence and expectation of businesses that exist in the townships that support these rural communities.

BI has been contracted because some rural municipal authorities have identified a need to focus expenditure and related activities to assist in business growth. One such municipal authority is the Ballarat City Council. In an effort to understand the marketplace confidence of the Ballarat businesses that support their local community, BI has taken a random sample of 150 businesses in the region. As well as asking them for useful demographic characteristics, BI have asked questions about trading patterns, business confidence and business expectations. You have received an email from the Ballarat City Council that contains specific questions that you must answer.

Analysis of Business confidence and expectation -

1. Can you provide an overview of the number of people that local businesses employ in our region?

2. Can you estimate the proportion of all businesses in our region that do have a growth strategy?

3. The Creswick/Clunes Chamber of Commerce recently indicated that the proportion of businesses registered in their region that do have a growth strategy was 76%. They then went on to suggest in a confidential report that any proportion less than this value contributed to a significant reduction in the revenue generated in the region.

a. Is there any evidence to suggest that the proportion of our local businesses that do have a growth strategy could be less than this suggested figure and thus impacting on revenue in our region?

b. Can you estimate the average number of staff for businesses with and without a growth strategy and can we therefore conclude that businesses with a growth strategy have a higher number of employees on average, and might therefore be more successful?

4. I have been told that our local business managers are rather young. This seems at odds with a recent report that stated the average age of managers in Australian businesses was 50 years of age. Can you please determine if the average age of our local business managers is indeed less than 50 years?

5. Over the years we have observed that an average of 10 businesses open each year. What is the likelihood that next year:

a. More than 15 businesses will open?

b. The number of businesses that open will be 5 or less?

6. Finally, when we conduct this survey again next year, we would like to be able to:

a. Estimate the average number of people that local business employ to within 4 employees, and,

b. Estimate the percentage of business with a growth strategy to within 2%.

Are you able to advise us on the sample size required that satisfies both these criteria?

Attachment:- Assignment File.rar

Reference no: EM132300644

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Reviews

len2300644

5/7/2019 4:32:19 AM

Your written response should be no longer 2,000 words (the approximate equivalent). Do not include a Table of Contents, Charts and Tables, nor Appendices in your written response. Suggested Word formatting for the Memorandum: Single-line spacing; no smaller that 10- point font; page margins approx. 25mm, and good use of white space. Your written response must have a cover sheet containing your particulars and Unit details. Set out your written response in the same order as in the originating email from Nick Black, with each section (question) clearly marked. There is NO MINIMUM word count.

5/7/2019 4:32:14 AM

A 2,000 word or approximate equivalent equates to 2 files that you will submit: The (summary Excel) output you generate, which is to be placed ONLY in the Data Analysis file you submit, AND a Word document file response, which should be NO MORE than two pages. Use plain language and keep your explanations simple, clear and succinct. Avoid the use of technical or statistical jargon. Marks will be lost from your written response if you use technical terms, poor grammar, present irrelevant material, or have poor presentation/organisation. In your written response, you should use key summary measures to make your conclusions, however, do not refer your reader to the diagrams that your .xlsx file contains. That is, your written response needs to be a stand-alone document. All Microsoft Excel output associated with each question in your written response is to be placed in the corresponding spreadsheets (Q1, Q2 … etc) in your submitted Microsoft .xlsx file.

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