Microsoft Word - FIN10002_ Sem 2 2020_Major assignment.docx FIN10002 S2 2020 Major Assignment 1 FIN10002: Financial Statistics Semester 2, 2020 Assessment 2: Report Weighting: 25% Due date: 11.59pm...

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Answered Same DayOct 03, 2021FIN10002Swinburne University of Technology

Answer To: Microsoft Word - FIN10002_ Sem 2 2020_Major assignment.docx FIN10002 S2 2020 Major Assignment 1...

Biswajit answered on Oct 05 2021
164 Votes
Report
Executive report :
We did a random sampling of 4600 lodgments of tax data & selected 90 random data points.On the basis of analysis of these 90 random sample points,we have drawn conclusion about the entire population of data.The dataset has 8 different variables namely gender,age_range,occ_code,lodgment_method,total_inc_amount,total_ded_amount & taxable income.Out of these,gender,age_range,occ_code & lodgment_method are categorical variables & rest all are continuous variables.The sample contains 53 males (59%) & 37 females (41%).54 % of the people in the sample data fall in the age
bracket of 25-39 years age.60% of people in the sample data have occupation either as not listed,managers or professionals.79 % people filed returns through tax agents while 21% filed self.with 95% confidence,the average taxable income of technician & traders falls between Rs 32031 & Rs 115603.Also with 95% confidence,average total deduction falls between Rs 1492 & Rs 3262.There is no statistical difference in total deduction amount between self prepared returns & through tax agents.But the total taxable income of males is statistically higher for males than that of females.There is no statistically significant correlation between total income & age range (coefficient of correlation 0.19 ).
Introduction :
The purpose of the report is to analyse the tax returns data of certain year for a location in Australia & share the findings & insights of the analysis with the top management for better data driven decision making.The dataset has been supplied by ATO & is available in the canvas.The dataset consists of around 4600 tax return files but we have selected a random sample of 90 returns for analysis through sampling tool of data anlaysis function of Excel.After selecting 90 IDs randomly,we fetched all related to each ID by using Vlookup function of Excel.The details of the sample is there is sample sheet in the excel file.The report contains both descriptive & inferential statistics about the entire tax return database.The data set consists of 8 variables out of which 4 are categorical variables & rest 3 are continuous variables leaving aside the identity number.The different variables are gender,age range,occupation code,Lodgement method,total income,total deduction amount & taxable amount.we will be doing the following anlysis subsequently in the report
· Descriptive statistics of all the variables
· Visual analytics of different variables
· Confidence interval determination for certain measures
· Hypothesis testing
· Correlation & regression
Analysis :
· Descriptive statistics :
    Gender
    Count of Gender
    Percentage
    0
    53
    58.89%
    1
    37
    41.11%
    Grand Total
    90
    100.00%
As shown in table above,the sample consists of 59 % male & 41 % female.
The above is a graphical depiction of the genderwise distribution of male & female tax payers who are 53 & 37 in numbers.
    Age range
    Count of age_range
    Percentage
    0
    3
    3.33%
    1
    1
    1.11%
    2
    3
    3.33%
    3
    7
    7.78%
    4
    7
    7.78%
    5
    7
    7.78%
    6
    6
    6.67%
    7
    15
    16.67%
    8
    17
    18.89%
    9
    16
    17.78%
    10
    7
    7.78%
    11
    1
    1.11%
    Grand Total
    90
    100.00%
The table for age range shows that 30-34 age group contributes most to the sample of tax payers chosen followed by 25-29 years old.The age group 25-39 constitutes around 54 % of the total tax payers.
The barplot is a graphical depiction of the same information
    Occupation code
    Count of Occ_code
    Count of Occ_code2
    0
    16
    17.78%
    1
    16
    17.78%
    2
    22
    24.44%
    3
    9
    10.00%
    4
    6
    6.67%
    5
    10
    11.11%
    7
    1
    1.11%
    8
    6
    6.67%
    9
    4
    4.44%
    Grand Total
    90
    100.00%
As shown in above table,not specified,managers,professionals & technicians & trade workers constitute 70% of the total tax payers in the sample.The below barplot is a graphical depiction of the same information.
Around 80% people filed tax returns through agents and around 20% filed self.Below is the graphical depiction of the same information.
    lodgment method
    Count of Lodgment_method
    Count of Lodgment_method2
    A
    71
    78.89%
    S
    19
    21.11%
    Grand Total
    90
    100.00%
The below table contains different statistics about the continuous variables such Total income,total deduction & total taxable income for the sample.All the distributions are right skewed.
     
    Tot_inc_amt
    Tot_ded_amt
    Taxable_Income
     
     
     
     
    Mean
    66535
    2377.222222
    64288.24444
    Standard Error
    6014
    451.4413371
    5927.077166
    Median
    51510
    707.5
    48626.5
    Mode
    #N/A
    0
    #N/A
    Standard Deviation
    57052
    4282.748566
    56229.19114
    Sample Variance
    3254921258
    18341935.28
    3161721936
    Kurtosis
    1
    14.41860395
    0.777452693
    Skewness
    1
    3.395114019
    1.191840033
    Range
    237759
    27477
    234100
    Minimum
    -3308
    0
    0
    Maximum
    234451
    27477
    234100
    Sum
    5988112
    213950
    5785942
    Count
    90
    90
    90
    Largest(1)
    234451
    27477
    234100
    Smallest(1)
    -3308
    0
    0
    Confidence Level(95.0%)
    11949
    897.0043209
    11776.97608
    Gender wise
    Average of Tot_inc_amt
    Average of Tot_ded_amt
    Average of Taxable_Income
    0
    78138
    3091
    75269
    1
    49913
    1354
    48559
    Grand Total
    66535
    2377
    64288
The above table shows that on average male taxpayers have higher total income,higher total deduction & also higher total taxable income than that of female taxpayers.
    Age range
    Average of Tot_inc_amt
    Average of Tot_ded_amt
    Average of Taxable_Income
    0
    43199
    510
    42690
    1
    45780
    0
    45780
    2
    99477
    2950
    96527
    3
    67642
    2494
    65147
    4
    112364
    2163
    110201
    5
    90014
    2590
    89300
    6
    63407
    1777
    61631
    7
    74869
    3261
    71518
    8
    56872
    4304
    52569
    9
    59154
    1081
    58073
    10
    27597
    360
    27237
    11
    14210
    282
    13928
    Grand Total
    66535
    2377
    64288
The above table shows that the age range 4 has highest average total income,age range 8 has highest total...
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