Business and Economic Statistics

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  • Topic: Regression analysis, Statistics, Errors and residuals in statistics
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  • Published : June 13, 2011
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ECMT1010 BUSINESS AND ECONOMIC STATISTICS A

ASSIGNMENT

Semester 1, 2011

This assignment is worth 10% of your total mark.

It must be handed in by 4:30pm on Friday, 3 June in the marked drop-off boxes in the Merewether building (Level 2, reception area).

Late assignments will not be accepted and will result in a zero mark.

The assignment must be done individually and plagiarism will result in severe penalty and possibly a zero mark.

The assignment will be marked out of 50. Marks for each question are shown.

Data for analysis:
Suppose that you are working for an environmental group on household electricity consumption. You are primarily interested in quantifying what factors could affect the household electricity consumption. The environmental group provided a data set that contained the information of 50 randomly selected households in Western Sydney. The data are recorded in an EXCEL file that you can download from the course web site.

Q1a (8 marks)

The leader of the environmental group suspects that homes (referred to as population 1) consume more electricity than units (referred to as population 2). Perform a hypothesis test to validate such suspicion. You must clearly state your null and alternative hypothesis, your conclusions, and the related output that lead to your conclusions. Use α=0.05 and assume unequal variances.

Q1b (8 marks)

However, the test in Q1 does not take the size of the building into considerations. So you compute the electricity consumption per week per square meter. We call this the electricity consumption rate. Perform a hypothesis to verify if the electricity consumption rate of homes is higher than that of units. You must clearly state your null and alternative hypothesis, your conclusions, and the related output that lead to your conclusions. Use α=0.05 and assume unequal variances. Q1c (4 marks)

Based on your analysis in Q1a and Q1b, is it true that homes consume more electricity...
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