Statistics for Financial Decisions January 21, 2023 postadmin Post in Uncategorized STAT6003 Module 5 Assessment 1 Page 1 of 8 ASSESSMENT BRIEF Subject Code and Title STAT 6003: Statistics for Financial Decisions Assessment Module 5 – Assessment 1: Short written assessments Individual/Group Individual Length NA Learning Outcomes 1. Analyse and present data graphically using spreadsheet software (Excel). 2. Critically evaluate summary statistics against suitable benchmarks. 3. Apply judgement to select appropriate methods of data analysis drawing on knowledge of regression analysis, probability, probability distributions and sampling distributions. 4. Select and apply a range of data analysis tools to inform problem solving and decision making. 5. Conduct quantitative research both individually and as part of a team and articulate and present findings to a wide range of stakeholders, from accounting and non accounting backgrounds. Submission By 11:55pm AEST/AEDT Sunday at the end of each Module Weighting 30% (Total of all written assessments throughout the subject) Total Marks 100 marks Context: The short written module assessments allows you to apply your knowledge on the concepts and ideas discussed during the Module. These assessments will also prepare you for the final report. Instructions: You are required to apply your knowledge and draw links between the scenario and the learning resources. In your answers, reflect upon and analyse issues of the key discussion points of the module. Your answers should also effectively communicate and demonstrate that key concepts have been reviewed and that you can apply these concepts to the problems posted. STAT6003 Module 5 Assessment 1 Page 2 of 8 Assignment Introduction: The Board of Directors of Schmeckt Gut would like to forecast sales figures for the Federated Islands for this year (2016) based on a data set that has collected information over the past 25 years. The dataset which is provided in the EXCEL file is for the Federated Islands and includes other variables. Assume that the development of the sales of Energy Bars (in US$) in a country is highly dependent on: • The development of the income of that country approximated by GDP data in US$ • The development of prices approximated by an average price index (in %) • The population development (15-65 years of age) • Satisfaction of customers with the product which is approximated with a survey score – this is the average result of a customer satisfaction survey (0=not satisfies, 10=very satisfied) • The advertisement of energy bars – number of average advertisements, and • The Number of stores where the energy bars can be purchased. If we would rewrite this relationship with a regression: