Data Analysis and Forecasting
You are working in sales for AutoMobile Inc., a firm of car distributors, who are thinking of expanding into a new market. You have been asked to investigate the factors which determine vehicle ownership in various Asian countries; the most recent data you can find is for 2019, and is as shown in Cars3.xls.
To prepare for a presentation to management about opportunities for sales in Cyprus, carry out the following steps:
Plot scatter graphs of vehicles per thousand population against income, population, population density and percentage of population in urban areas in the Excel file with which you believe there might be correlation. What do your results suggest? [20%]
For the variable which is more closely correlated to vehicles per thousand population, calculate the equation of the regression line, and interpret the results. [15%]
Plot scatter graphs of total vehicle ownership against income, population, population density per km^2 and population in urban areas. What do these graphs suggest? [20%]
For the variable which is more closely correlated to total vehicle ownership, calculate the equation of the regression line and interpret the results. [15%]
Which of the two regression equations do you think will be more useful to the company? [10%]
Data for Cyprus is as follows:
Income Population Population density % urban
6.71 73.7 99 73.3
Use this data and the regression equations calculated in b.) and d.) above to predict the total number of vehicles and number of vehicles per 1000 population for Cyprus . The actual figures are 7.04 million and 105.6 per 1000 population. Explain why your predictions differ from these values. [20%]
Student Assignment Guidelines
In your answers, you should demonstrate your knowledge of and ability to explain
and apply statistics theory. You must justify any conclusion you reach
on the basis of evidence provided by you by reference to, or quotation from, the
course notes, textbooks, other course readings, or any other source you choose to use.
As long as your answers give a good justification and demonstrate your reasoning
ability and your knowledge, you can obtain a good grade. Moreover, you are requested to write and submit a final report of two projects.
Structure
You have been asked to produce a report. It should contain the following:
Title Page, including the given title in full.
Abstract (No more than 50 words)
Contents Page
Introduction
Main body, which should also be organised under appropriate headings.
Conclusion
Appendices, which should be numbered.
Make sure you refer your reader to them as required.
Word count; excluding appendices and reference list
You are not required to provide recommendations.
Presentation
Your work should be word processed in accordance with the following:
Font style, Lucida Sans, font size 12
1.5 line spacing.
The page orientation should be ‘portrait’
Margins on both sides of the page should be no less than 2.5 cm
Pages should be numbered
Your name should not appear on the script.
Your student number should be included on every page.
Skills Advice
Refer to your material provided in your skills modules to make sure that you have conformed to academic conventions. Pay particular attention to:
Your introduction,
Your conclusion,
The use of headings and/or signpost words
Paragraph structure
Do refer to Info skills at http://writeitright.uelconnect.org.uk/home/
and http://infoskills.uelconnect.org.uk/
Referencing.
The university expects students to use Harvard referencing as specified in the book Cite them Right.
You should be careful to include citations within your work as well as a reference list at the end. Unreferenced work will fail.
Word Count
Your word count should not include your abstract, contents, reference list or appendices. You should provide your word count at the end of your report.
Exceeding the word count by more than 10% will result in a penalty of 10% of your marks for your work.
If your work is significantly shorter, then you will probably have failed to provide the level of detail required.
