HI6007 Statistics for Business Decisions Assignment Help

Group Assignment

Group Assignment Guidelines and Specifications

PART A (25 marks)

Assume your group is the data analytic steam 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?

Data Collection Task(5 marks)

Create a dataset (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 sold from 01/01/2025 onwards. (To verify the data set, you are required to add a hyper link to each property’s details from the real estate websites that you used. (5 marks)

Questions (20 marks)

1. Conduct a descriptive statistical analysis in Excelusing 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)
2. Provide a brief commentary on the descriptive statistics you calculated. Describe the characteristics of the distribution for each variable based on these statistics. (3 marks)
3. Create an appropriate graph to illustrate the distribution of the number of bedrooms in your dataset.(2)
4. 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)
5. Based on the data set, perform multiple regression analysis and correlation analysis, and answer the questions given below.

• At a 5% significance level, test the overall model significance.(3marks)
  • Ata5% significance level, assess the significance of the independent variables in the model.(3marks)
  • 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 multicollinearity.(2mrk)

Part B (10marks)

In Australia many people are involved in multi-jobs to supplement their income. There is  an on going discussion surrounding work force development, and the gender-specific challenges in Australia’s employment landscape. The phenomenon of multiple job holders and their supplementary income sources is of major interest to policy makers, employers, and the general public.

Using data obtained from the ABS. We will specifically investigate the various issues related to employment in Australia, focusing on employment income between first and second job in Financial and insurance services sector.

Research Question:

What the relationship between first and second job employment income in Australia.

Task

Note: Refer the data given the excel file“HIM6007 T1 2025 Group Assessment-Dataset”

Based on the dataset ,perform regression analysis, and answer the questions given below.

1. Derive the simple regression equation.(1mark)
2. Interpret the meaning of the coefficients in the regression equation.(2marks)
3. Interpret the calculated coefficient of determination. (2marks)
4. At a5% significance level, test the over all model significance.(3marks)
5. Select an appropriate analysis to compare Male and Female employment income(2 marks)

PART C(5 marks)

1. Based on the answers in PART A above, write a summary of your analysis addressing the research question

(100-150words).(3 marks)

1. Based on the answers in PART B above, write a summary of your analysis addressing the research question

(100words).(2marks)

Marking criteria

Marking Rubric

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

The following penalties will apply:

1. Late submissions-5%perday.
   1. No coversheet OR inaccuracies on the coversheet-10%
   2. No title page-10%
   3. Inaccuracies in referencing OR incomplete referencing OR not in Holmes-adapted- Harvard style -10%
   4. Solo Group penalty-20%

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.
2. The reference list must be located on a separate page at the end of the essay and titled: “References”.
3. 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(1to10,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.SecondWaveERPEducation,Journalof

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 intelligenceStrategy (Hawkingetal.,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,a10% penalty willBe applied.