Module Code: STA510

Module Title: Business Statistics

Written Assignment: Computer Application Project

Computer Applications Assignment Problem

Assume that you are a research analyst in a business firm. Your team leader has given you a research task to investigate whether the Private Gross Fixed Capital Formation (on Intellectual property products – Mineral and petroleum exploration) in Australia determines the Gross Domestic Production of the country.

Using the link given below, download the data on the following two variables from the Australian Bureau of Statistics (ABS) website and answer the questions 1-6.

Data link:

http://www.abs.gov.au/AUSSTATS/[email protected]/viewcontent?readform&view=ProductsbyCatalogue&Action=expandwithheader&Num=1

(ABS Catalogue Number: 52: National Accounts>>5206.0 Australian National Accounts: National Income, Expenditure and Product. >> data downloads >> Table 3. Expenditure on Gross Domestic Product (GDP), Current prices Excel sheet)> Data1 sheet

Variables:

• PRIVATE GROSS fixed capital formation – Intellectual property products – Mineral and petroleum exploration – Total (original) in $ Millions; – quarterly data (Series ID A2302539A) from March 1975 to December 2023.
• GROSS DOMESTIC PRODUCT: (original) in $ Millions; – quarterly data (Series ID A2302467A) from March 1975 to December 2023.

1. Download data (in excel format) for PRIVATE GROSS fixed capital formation – Intellectual property products – Mineral and petroleum exploration (GFCF) and GROSS DOMESTIC PRODUCT (GDP) for the period March 1975 to March 2019 from the above website to carry out Tasks 2-6. Display a screenshot of first 15 rows of the dataset. (1 mark)
2. Using appropriate graphical descriptive techniques (in Excel):
   • describe the movements of two data series GFCF and GDP.
   • analyse the relationship between the two variables, GFCF and GDP.  (4 marks)
3. Using appropriate numerical descriptive methods (in Excel):
   • summarize the above two data series, GFCF and GDP.
   • comment on the strength and the direction of the relationship between GFCF and GDP. (4 marks)
4. Using the Simple Linear Regression technique,
   • develop a model to explain the relationship between GFCF and GDP. Explain the reason for your choice of the dependent and independent variables of your model.
   • estimate the model you proposed in 4(a) using Excel.
   • interpret the estimated coefficients you obtained in 4(b).
5. Applying appropriate statistical techniques,
   • conduct a hypothesis testing to test whether there is a linear relationship between Gross Fixed Capital Formation – Intellectual property products – Mineral and petroleum exploration and Gross Domestic Product in the model you estimated in Q4 (b) (use a = 0.05).
   • assess the fitness of the estimated model you have estimated in Q4.
6. Based on all your answers above, write a brief report to hand over to your team leader. (maximum 250 words).

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