Page 4of 6HI6007 STATISTICS AND RESEARCH METHODS FOR BUSINESS DECISION MAKINGQuestion XXXXXXXXXXMarks) Assume you are a research analyst in an economic consultancy firm. Your team leader has given you...

Question 1)
A)
B)
C)
Part a)
A prominent number of 90 Australian billion dollars is evident as the highest Australian export to China in the year 2014 and 15.  However, goods and services worth only 16 billion dollars were exported to China in the year 2005. The Australian export to Japan has risen from 28 Australian billion dollars in the year 2004-05 until 46.6 Australian billion dollars in the year 2014-15. Overall the Australia export has increased considerably the country China, Japan, United States, Republic of Korea, India, and Singapore. There is not much significant difference in the amount of Australian export to New Zealand and the United Kingdom in the year 2004-05 and 2014-15. 
Part b)
In the year 2004-05, there is an evident 27% export to Japan. However, in the year 2014-15, a prominent number of 40% export is to China. The percentage of Australian exports to China has risen from 15 % in 2004-05 to 40% in 2014-15. Percentage of Australian exports to Japan has decreased slightly from 27 % in the year 2004-05 to 21% in the year 2014-15. The Australia export to the countries India, Singapore, and the United Kingdom is less than 10% in the year 2004-05 and 2014-15.
Question 2)
a)
    Class interval
    Fi
    R Fi
    30-39
    2
    0.05
    40-49
    4
    0.1
    50-59
    8
    0.2
    60-69
    11
    0.275
    70-79
    8
    0.2
    80-89
    5
    0.125
    90-100
    2
    0.05
    sum
    40
     
b)
    Class interval
    Fi
    C. Fi
    C. R Fi
    30-39
    2
    2
    0.05
    40-49
    4
    6
    0.15
    50-59
    8
    14
    0.35
    60-69
    11
    25
    0.625
    70-79
    8
    33
    0.825
    80-89
    5
    38
    0.95
    90-100
    2
    40
    1
c)
d)
e)
P(X<60) = 0.35
f)
P(X>70) = 1-0.625 = 0.375
Question 3)
a)
There is an increasing trend in the Retail turnover per capita ($) as well as CONSUMPTION EXPENDITURE ($ Million) as evident from the above line chart.
*The Retail turnover per capita ($) corresponds to the secondary axis.
b)
Since I want to predict CONSUMPTION EXPENDITURE, it is considered as the dependent variable and is placed on the Y axis. The predictions are based on the basis of Retail turnover per capita ($), hence it is the independent variable which is depicted on X axis.
c)
    
    Retail turnover per capita ($)
    CONSUMPTION EXPENDITURE ($ Million)
    mean
    2205.8
    146019.9
    median
    2180.2
    139137.0
    range
    1558.7
    151259.0
    variance
    295059.6
    2.2E+09
    standard deviation
    543.1939
    46904.33
    coefficient of variation
    0.246261
    0.321219
    min
    1455.9
    81889.0
    max
    3014.6
    233148.0
    Q1
    1652.95
    103558.5
    Q2
    2180.2
    139137
    Q3
    2793.4
    192800.5
d)
    correl =
    0.987697
There is a strong positive linear relationship between Retail turnover per capita ($) and CONSUMPTION EXPENDITURE ($ Million). As the value of Retail turnover per capita increases, the value of CONSUMPTION EXPENDITURE also increases drastically.
e)
    SUMMARY OUTPUT
    
    
    Regression Statistics
    Multiple R
    0.987697
    R Square
    0.975546
    Adjusted R Square
    0.975356
    Standard Error
    7363.225
    Observations
    131
    ANOVA
    
    
    
    
    
     
    df
    SS
    MS
    F
    Significance F
    Regression
    1
    2.79E+11
    2.79E+11
    5146.129
    7.9E-106
    Residual
    129
    6.99E+09
    54217086
    
    
    Total
    130
    2.86E+11
     
     
     
     
    Coefficients
    Standard Error
    t Stat
    P-value
    Lower 95%
    Upper 95%
    Intercept
    -42102.5
    2700.165
    -15.5926
    1.82E-31
    -47444.9
    -36760.2
    Retail turnover per capita ...