STAT- Business Decision Making

| April 17, 2014

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Question 1 (Adapted from Moore et al., 2011)
Business, Marketing, Management,
STAT1060 Business Decision Making Assignment
A business school conducted a survey of companies in its state. They mailed a questionnaire to 200 small companies, 200 medium-sized companies, and 200 large companies. The rate of nonresponse is important in deciding how reliable survey results are. The data on response to this survey are shown in the table below and provided in the set of SPSS files in Blackboard (under Resources / HELP) in the file Assignment1_1.sav. Check a similar lab exercise (Week 4), to see how to analyse this type of summary data.
(a) What type of sampling was adopted here? Explain.
(b) What was the overall percent of nonresponse? Would this be an unbiased estimate of the states companies nonresponse rate for such a survey?
(c) Define the two variables involved and give their type. Justify.
(d) Using SPSS, produce and include an appropriate graph to show the relationship between
No response
the two variables.
(e) Describe this relationship.
Question 2 (Adapted from Moore et al., 2011)
Economics, Accounting, Finance
Data for various economic variables, for 120 countries, are provided in the file
(a) The gross domestic product (GDP) of a country is the total value of all goods and services produced in the country. It is an important measure of the health of a countries economy.
1. Use SPSS to construct a histogram of the growth in GDP, expressed as a percent, for 120 countries. How would you describe the shape? Include your histogram.
2. Using SPSS, compute the mean and standard deviation.
3. Which two countries are the outliers for this variable?
4. Recompute the mean and standard deviation without the outliers. Explain how the mean and standard deviation changed when you deleted the outliers.
STAT1060 Assignment
(b) Repeat 2. and 4. from (a) using the median and interquartile range. Summarise your results and compare them with those of (a).
(c) Produce, and include, a scatterplot of unemployment versus GDP per capita. Describe this relationship. [2 marks
Question 3 (Adapted from Sharpe et al., 2012) (6 marks)
Management, Accounting, Finance
A group of 65 managed funds had a mean quarterly return of 2.6% with a standard deviation of 5.4%. If a Normal model can be used to model them, what percent of the funds would you expect to be in each region below? Use the empirical rule, and show your working, for (a) to (c) and use software for (d) to (f) only.
(a) Returns of 2.6% or less
(b) Returns between -8.2% and 13.4%
(c) Returns of 18.8% or more
(d) Returns of 5% or more
(e) Returns between 5% and 15%
(f) Returns below 0%
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