MAT10251 STATISTICAL ANALYSIS PROJECT This project leads you through a statistical analysis of used car data. The data for this project was obtained from the car sales website www.carsales.com.au 2...

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MAT10251 STATISTICAL ANALYSIS PROJECT


This project leads you through a statistical analysis of used car data. The data for this project was obtained from the car sales website
www.carsales.com.au
2 to 10 January 2019 (inclusive).


Part B parts of Topics 5 to 9.



You will need to work on this project throughout Session 1.






Project Data


The data for this project can be accessed from the MySCU site for MAT10251 in
Task 2 - Project
under
ASSESSMENT
.


The data set provided contains 10 randomly chosen samples of size 115.



To obtain your data


(1) Click on the
Project Data
file. This will download an Excel file.


(2) Select the 7 columns (Year
to
Price) of data for the sample specified by the last digit of your student ID number.


(3) Copy this into a new Excel file.


There are 10 sample data sets each of 7 columns (Year
to
Price)


Your sample number matches the last digit of your SCU student ID number. For example, if your student ID number ends in 2 your sample is Sample 2 and you will be analysing used car data for Toyota Corolla cars for sale in Western Australia in columns Q2:W120.





Project Situation


An online consumer group Oz-Price-Watch regularly analyses used car prices in various Australian states.


As a research assistant for Oz-Price-Watch, you are analysing the data for the Car and state specified by your sample. For example, if your student ID number ends in 0 your sample is Sample 0 and you will be analysing prices of used Toyota RAV4 (4 cylinder) in New South Wales.


You are required to analyse your sample data in response to the given questions and provide a written answer. You can assume that your written answers are components of a longer report on used car prices.










Project Preparation


You are expected to use Excel when completing the project.


Your written answers presenting your findings and conclusions should be considered as a part of a larger report on used car prices. Each written answer should be a word document into which your Excel output has been copied


In addition, your statistical workings for Part B should appear as appendices to your written answer. This should include all necessary steps and appropriate Excel output.


Each part of the project should be submitted as a
SINGLE
Word document, with appropriate Excel output added.



Notes


· You should not need to read beyond the study guide and textbook to complete the project.





Referencing


You are not required to reference.


However, as the format of your written answers are components of a longer report it may be appropriate to reference. In this case, use any consistent referencing style.


Furthermore, you are not required to use real references. That is, any reference can be fictitious/fake.


You are not required to reference any output or text from Part A that you reuse in Part B.





Project Submission


· Each part of the project should be a
SINGLE
Word file with Excel output included.


· The given
cover sheets
should be the first pages of your submitted project and are not part of the page limit.


·
DO NOT
submit your appendices, which are not part of the page or word limit, for Part B as a separate file.


· Ensure that the page setup of your submitted document is A4 Portrait, with an appropriate format so that it is easily readable if printed.


· Use line spacing of at least 1.5.


· Please name your file



“Family Name_First Name_Part_A/B/_Campus”


· For example; Jayne_Nicola_Part_A_Lismore





Answered Same DayMay 17, 2021MAT10251Southern Cross University

Answer To: MAT10251 STATISTICAL ANALYSIS PROJECT This project leads you through a statistical analysis of used...

Pooja answered on May 19 2021
137 Votes
Toyota RAV4 (4 Cylinder)
Toyota RAV4 (4 Cylinder)
Student ID:
Sample No. 0
Alpha = 5%
Confidence Level = 95%
Table of Contents
Inferential Statistics    2
B.1 Price of Two and Three Year Old Cars    2
B.2 Proportion of Cars for Sale which are White    2
B.3 Differenc
e in Price between Cars for Sale Privately and those for Sale by a Used Car Dealer    2
B.4 Model to Predict Price of Used Car    3
Appendix    5
Appendix B.1 – Statistical answer for Question 1    5
Appendix B.2 – Statistical answer for Question 2    5
Appendix B.4 Statistical answer for Questions 4 and 5    6
Assumptions and Variables Defined    6
Question 4 Simple Linear Regression Model    7
Question 5 Multiple Linear Regression Model    8
Inferential Statistics
B.1 Price of Two and Three Year Old Cars
It is assumed that distribution of price of used Toyota RAV4 cars for sale in the year 2016 and 2017 is approximately normally distributed. This is evident from bell shaped histogram.
The point estimate for the population mean price of used Toyota RAV4 cars for sale in the year 2016 and 2017 in the NSW is $ $30,864. I am 95% confident that estimated population mean price of used Toyota RAV4 cars for sale in the year 2016 and 2017 lie in the interval ($29104.88, $32622.27).
B.2 Proportion of Cars for Sale which are White
For application of normal approximation to binomial, it is required that np>=5 and nq >=5. In this case, np=51 and nq=64 which is greater than 5. Hence normal approximation to binomial is valid and I can apply z test for proportions.
Null hypothesis: The proportion of used Toyota RAV4 (4 Cylinder) white cars for sale in NSW is equal to 30%. P = 30%. Alternative hypothesis, h1: The proportion of used Toyota RAV4 (4 Cylinder) white cars for sale in NSW is greater than 30%. P > 30%
With z=3.35, p<5%, the null hypothesis is rejected at 5% level of significance. And conclude that the proportion of used Toyota RAV4 (4 Cylinder) white cars for sale in NSW is greater than 30%. P = 30%.
B.3 Difference in Price between Cars for Sale Privately and those for Sale by a Used Car Dealer
The dependent variable is price which is measured by the ratio scale of measurement. The independent variable is seller which is categorized as private and dealer. Since the two groups of private and dealer are independent of each other, it is sufficient to apply t test for independent samples.
Null hypothesis: the average price of Toyota RAV4 (4 Cylinder) cars for sale between private seller and used car dealer is the same. Alternative hypothesis: the average price of Toyota RAV4 (4 Cylinder) cars for sale between private seller and used car dealer is not the same. With |t|=2.72, p<5%,...
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