ECON1030: Business Statistics 1 (Semester 2, 2011) Instructions 1. This assignment mainly requires you to create charts and use some functions in Excel to compute some statistical measures. You are...

ECON1030: Business Statistics 1 (Semester 2, 2011)


Instructions

1. This assignment mainly requires you to create charts and use some functions in Excel to compute some statistical measures. You are not expected to work out any of the solutions by hand. The purpose of this assignment is to become familiar with computations and graphs that can be done in Excel. This assignment is worth
6%
of your final grade.
2. Attach the completed
Assignment Cover Sheet
(available on Blackboard) and staple them together with your solutions before handing in the assignment.
3. The assignment is
due in class during Week 5
in your assigned demonstration lecture (tutorial).

Question 1:


Problems from Berenson et al.: Question 3.53 (on page 98).

You need to download the data set TELEPHONE.xls to solve this problem.
You can copy the Excel graphs that you create and paste them into a word document.

Note: The ‘Descriptive Analysis’ command in Excel is very useful in answering this question.


Instructions for loading this add-in program (a supplemental program that adds custom commands or custom features to Microsoft Office) for older versions of Excel (97, 2003, 2007) are given on page 99 of the text. For Excel 2010, the instructions are as follows:


1. Click the File tab, and then click Options.


2. Click Add-Ins, and then in the Manage box, select Excel Add-ins.


3. Click Go.


4. In the Add-Ins available box, select the Analysis ToolPak check box, and then click OK.


(Tip: If Analysis ToolPak is not listed in the Add-Ins available box, click Browse to locate it. If you get prompted that the Analysis ToolPak is not currently installed on your computer, click Yes to install it.)


5. After you load the Analysis ToolPak, the Data Analysis command is available in the Analysis group on the Data tab.


Hint for part a: a histogram or box plot would be most appropriate graphs.

•
Instructions for how a histogram is created in Excel are given on pages 53-54 of the text (assuming you have installed Analysis ToolPak).

•
Instructions for how a box plot is created in Excel are given on page 100 of the text. In order to do this, you will need to install
PHstat2, another add-in program for Excel. You will need to download the program and installation instructions from Blackboard or from the Pearson website:
http://wps.pearsoned.com.au/au_be_berenson_busstats_2/

Hint for part c: a scatter plot is a standard graph that can be drawn easily in Excel.


Question 2: Problems from Berenson et al.: Question A.21 (on page 104)

You need to download the data set AGE.xls to solve this problem.
• For the percentage distributions (part a), you should compute them in Excel, copy the Excel tables you create and paste them into a word document.
You should not be doing
any computations manually.

• For the Excel graphs that you create (part b), you can copy and paste them into a word document, and write text below each graph answering the question.