# Business Statistics quiz Essays

1. A demographics consultant was asked by the State Transit Authority to study the transport patterns of workers commuting to the Sydney CBD from the inner city suburbs. The study was to determine whether a relationship existed between the type of transport used and the location, so that the authority may prioritise the services it needs to expand or upgrade. The summary data for the study is available below: Car Bus Train Other

Eastern Suburbs 81 161 148 39

Inner West & South 69 209 247 53

North Shore 75 148 165 64

2.

Assume that a 1% level of significance is to be used for the test.

3.

1. Calculate the test statistic, reporting your answer correct to three decimal places.Blank 1

4. Use the tables to

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Question 4

1. The following equation was estimated using 10 data points: Y = B0 + B1 X + error.

If the original Y values were: 2.614 3.132 2.955 4.867 4.843 1.511 1.402 3.917 2.469 7.071, and the predicted values are: 2.753 3.869 3.322 5.687 3.717 2.702 2.511 1.899 2.545 6.323, calculate the mean absolute deviation. (correct to 4 dec. pl.) 3 points

Question 5

1. A consulting group have tracked the average salary per week (in dollars) over time for a group of university students. The data is recorded in the file BBSALARY. Using the data from the year 1976 to the year 2000 (including 1976 and 2000) fit a trend equation to the average salary data over this period. You will need to create a new column of values (from 1 to 25) next to the YEAR column, with a value of 1 next to the year 1976, a value of 2 next to the year 1977 and a value of 25 next to the year 2000. This new column will be the data for your independent variable.

a) what is the intercept term (to 3 decimal places)?Blank 1

b) use the trend equation to forecast Average Salary for the year 2002 (to 3 decimal places).Blank 2

3 points

Question 6

1. An AR(1) model is derived as follows: (with the standard error of the coefficient given in the brackets)

EXP(t) = 1.68 + 0.238 * EXP(t-1)

(0.132)

where

EXP(t) = the value of exports in millions of dollars in year, t

EXP(t-1)= the value of exports in millions of dollars in year, t-1

And the number of observations for