DATA ANALYSIS FOR BUSINESS

Assessment 2 – PORTFOLIO

This assessment is worth 70% of the total module marks.

Complete ALL FOUR PARTS of this assessment.

Your answers must be presented on this template document.  Your answers should be contained in the spaces provided.

PART 1: Presentation and Display of Survey Data

1 (a) Averages in the news

Find an example of a mainstream media report that includes the word “average” in the headline.

Provide the link to the article here:

Paste a screenshot of the headline and relevant parts of the report mentioning the average below:

Answer the following questions. If you cannot find an answer for a question, explain what effect this might have on the information in the article.

Which kind of average has been used?

What was the size of the sample used to find the average?

What is the source of the data? How was the data collected?

Do you think the average was chosen to give valid and reliable results, or to attract the most readers?

1 (b) Charts in the news

Find an example of what you consider to be a GOOD chart about the Covid-19 pandemic, and an example of a BAD one.

Include the charts on this page, together with links to the source.

For each chart, give THREE reasons why you consider it to be good or bad.

PART 2: Correlation and Regression

2 (a) Correlation and causation

Using examples, outline the differences between correlation and causation.

2 (b) Correlation and regression

For this part of your portfolio, you are required to find some data from Statista.com. a leading provider of market and consumer data. You should find some data broadly related to your degree title (Bsc Accounting and Finance)

For the correlation and regression analysis, you will need TWO columns of data so that you can have X and Y variables. You made need to download two different files and then combine them in Excel. You need two columns of the same length, with at least 10 pairs of (X, Y) data.

Write down the titles of the data file(s) you have chosen to use:

Write down which variable you have chosen as X and which as Y, and give a reason for your choice.

Use Excel to create a fully-formatted scatter chart of your data, showing the linear regression line, R-squared value, and the equation of the regression line. 

What is the value of the correlation coefficient for your chosen data? What does it mean?

Using the values in the regression equation, explain what your analysis shows.

Explain the concepts of interpolation, extrapolation, validity and reliability when using a regression model for forecasting.

PART 3: Index numbers and Percentages

3 (a) Excel functions and percentages

The table below shows selected price details for unleaded petrol and diesel published by the Department for Business, Energy and Industrial Strategy. (https://www.gov.uk/government/statistics/weekly-road-fuel-prices)

Using the example spreadsheet above, explain how the Excel VLOOKUP function can be used to find items in an Excel table.

The price of petrol and diesel includes fuel duty (levied at a flat rate of 57.95p per litre).  VAT at 20% is then charged on both the product price and the fuel duty. Complete columns C and D, and rows 6 and 7 in the table below, and give an explanation of your calculations:

3 (b) Rebasing and Descriptive Statistics 

The table below shows the average price of petrol and diesel in November from 2012 to 2021.  Fill in all the missing values and give an explanation of your method.

Use the information in the table above, together with any descriptive statistics you may calculate, to make FIVE relevant comments and/or comparisons about Petrol and Diesel prices since 2012.

PART 4: Time Series Analysis

The table below shows information about visits to the UK by overseas residents, and visits abroad by UK residents. The data is also available as an Excel file on Blackboard.

Source: https://www.ons.gov.uk/

Select some of the data above and complete a time series analysis.

You do not need to analyse all of the data.

Clearly state and interpret all seasonal effects that you have calculated.

Use your model to make relevant predictions.

Use calculator or Excel (see your seminar on time series analysis).

Present your results on the next pages.

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