Dataset overview

Suppose market research company XYZ shows potential buyers two versions of a laptop and asks them how much they would pay for version 1 and version 2. Some of the buyers come from region A and some come from region B, for example region A could be Sydney and region B could be outside of Sydney. A dataset showing you the buyers answers is given on moodle

The variables of the data set are:

“Which region? Region A (A) or Region B (B)”

“How much would you pay for version 1?”

“How much would you pay for version 2?”

“Would you pay more for version 1? Yes (y) or No (n)”

The columns “student number” and “which sample” are variables they are used to give every student their own sample

Task overview

You need to submit discussion of your dataset as a word file,

You also need to submit an excel file that shows you can summarize the dataset without using the automatic dataset summarizer and p-value calculator.

Instructions explaining how to discuss the dataset in a word file

a) Use the automatic dataset summarizer to make a summary that lets you investigate the relationship between the variables “Which region?” and “How much would they pay for version 1?”. Paste the summary into the word file. Briefly comment on the relationship between the variables.

b) Use the automatic dataset summarizer to make to Make a graph that lets you investigate the relationship between the variables “How much they would pay for version 1” and “How much would they pay for version 2” and paste it into the word file . Briefly comment on the relationship between the variables.

c) Use the automatic dataset summarizer to make a summary that lets you investigate you investigate the relationship between the variables “Which region?” and “would you pay more for version 1” and paste the summary into the word file. Briefly comment on the relationship between the variables.

d) Find a 95% confidence interval for the variable “would you pay more for version 1”

e) Find the test stat for testing the claim that people would pay more than $1000 for version 1 on average.

This is the same as finding the zscore for the sample mean if you assume the population mean is 1000 and the population standard deviation is the same as the sample standard deviation.

To this question you need to find the sample size, mean and standard deviation of the variable

“how much would you pay for version 1”, This is not difficult you can either use the =count(), =average() and =stdev() command, you would also get the relevant information when you do part (b) of the excel task.

f) Test the claim there is a relationship between the variables “Which region?” and “How much would they pay for version 1?”. Use the automatic dataset summarizer to get the p-value. Interpret the p-value in simple terms. You are not required to discuss H0 and H1.

g) Test the claim there is a relationship between the variables “Which region?” and “Would they pay more for version 1?”. Use the automatic dataset summarizer to get the p-value. Use the automatic dataset summarizer to get the p-value. Interpret the p-value in simple terms you are not required to discuss H0 and H1.

h) Briefly describe some other variables that could be used in a dataset if you wanted to help a business that makes laptops and explain why the variables would be useful. (300 words)

i) Briefly describe what is meant by the phrase “lurking variables” and explain why it is important to consider lurking variables when writing a report (300 words)

j) Briefly describe how you would make a report that uses the information from at least 5 of the previous parts of the assignment, the previous parts of the assignment are parts (a),(b),(c),(d),(e),(f),(g),(h),(i) given above (300 words)

Instructions for the excel file , demonstrate you can make summaries without using the automatic dataset summarizer

a) Paste in your dataset into the excel file

b) Use a pivot table to make a summary that lets you investigate the relationship between the variables “Which region?” and “How much would they pay for version 1”

c) Make a graph that lets you investigate the relationship between the variables

“How much they would pay for version 1” and “How much would they pay for version 2”.

d) Use a pivot table to make a summary that lets you investigate the relationship between the variables “Which region?” and “would you pay more for version 1”

Don't use plagiarized sources. Get Your Custom Essay on

business statistics

Just from $13/Page

The price is based on these factors:

Academic level

Number of pages

Urgency

Basic features

- Free title page and bibliography
- Unlimited revisions
- Plagiarism-free guarantee
- Money-back guarantee
- 24/7 support

On-demand options

- Writer’s samples
- Part-by-part delivery
- Overnight delivery
- Copies of used sources
- Expert Proofreading

Paper format

- 275 words per page
- 12 pt Arial/Times New Roman
- Double line spacing
- Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Delivering a high-quality product at a reasonable price is not enough anymore.

That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more