STS 2003 CLASS PROJECT

STS 2003 Class Project
Date:
Course Code and Title: STS 2003 / Business Statistics for Managers
Assessment Title: Group Project
Assessment Weight: Group 20% Individual 10%
Student’s Name and ID:
Maximum Score: 80 marks	Student’s Score:
Assessed Learning Outcomes: ·        Analyze the probability of given business outcomes using fundamental probability concepts for discrete and continuous probability distributions. ·        Compute the probability of given business outcomes by building one and two tailed confidence intervals for Z and T probability distributions. ·        Draw statistical inferences from given business information, based on one and two tailed hypothesis tests. ·        Conduct hypothesis tests for the means of two or independent or dependent samples
This project consists of two part, a group of no more than four students followed by a short ( one hour ) written defence.
Detailed feedback to the Student:
Attachments (if any):
Marked by: Date:

PART I – Project scenario (20% – group)

You have been assigned a task on behalf of the statistical department of your college. You must undertake two hypothesis tests using a two sample approach. One must be dependent and the other must be independent. Your sample size should be between 15 and 30 observations per sample.

Task 1: In groups of no more than four people conduct your samples. The samples can be surveys, observations, oral questions. Please see below a list of possible samples you may use. One Hypothesis test must be based on independent samples and other Hypothesis test must be based on dependent samples. You must write your data down on a notebook.

Note: independent samples means samples from different places different people but same question, while dependent means they are from same place, same people but for different conditions. For example, dependent sample how much do you drive on a weekday (sample – 1) and how much do you drive on a weekend (sample – 2), while an independent is asking how much you drive in a week to men (sample – 1) and to women (sample – 2)

Task 2: Transfer this data in Excel (or another software package) then use appropriate functions to calculate the mean, standard deviation and the sample size. You may also use other basic Excel functions to get other data. Save your Excel files as some of the grades will be based on the output of the spreadsheets.

 

Task 3: Use appropriate statistical techniques to solve the questions you are being asked. Refer to the report which has the questions.

 

Task 4: you will write a reflection of what you did, how you did that task and what learning you made from the tasks.

 

PART II – individual written defense (10% – individual)

 

Task 5: You will do a short individual written defence (with either the teacher’s data or practical questions).This will be in class time and under examination conditions.

 

 

Report

1. Write a short introduction to explain your two samples. You should describe who the population is and why you chose this sample. You may also explain the sampling technique you used to obtain your data.                                                       [10 marks]

 

2. In an appropriate software package calculate basic statistical data such as mean, median, mode, variance, standard deviation, range.                                    [10 marks]

 

3. Plot the data from one, two and three standard deviations from the sample mean for all the samples collected.

       [6 marks]

 

4. Use the data to find the following information from your samples.        [9 marks]

 

1. The top 15% of the data you have found in your sample.
2. The bottom 20% of the data you have found in your sample.
3. The middle 80% of the data you have found in your sample.

 

 

5. A) Find the 90%, 95% and 99% confidence intervals of all your data.      [9 marks]

 

 

 

1. B) Explain why the answers are different depending on what confidence interval you use. Report anything interesting you observe.       [4 marks]

 

 

 

6. Use the two samples to set up a 5 step hypothesis comparing the two samples. You should use the following steps                        [20 marks]

 

 

1. Define your hypothesis

 

 

1. Choose 0.01, 0.05 or 0.10 significance levels and obtain critical values. Give reasons why they chose the level.

 

 

 

1. Do the test statistic

 

 

 

1. Formulate a decision on the findings of b) and c)

 

 

1. Give the result or decision of the hypothesis test and interpret what this means.

 

 

 

Presentation of Excel sheet and report                                                                   [12 marks]

You should format your Excel sheet and report well. It must include

• All tables or charts in Excel should be in borders with good shading
• All decimal points should be consistent, final answers either two or four decimal places.
• The word report should be in consistent font, size, line spacing etc.
• Report should be clear of spelling and grammar errors.

 

Examples of data you should obtain

 

Any continuous variables such as

 

• Money people spend / save / use
• Liquids people drink / use
• Time people take
• Weights / heights of people, animals or things
• Speed people drive
• Kilometres cars drive
• Peoples ages if you do not use exact years
• Test scores in terms of numbers (not grades)

 

 

Your teacher will only verify/comment if you have identified the right sample (dependent / independent) as a starting guidance. Thereafter, it is your sole responsibility to complete the tasks. You can explain to your teacher and ask for guidance however, your teacher will not see any written or task related submissions.