Group Assignment

Assessment Details and Submission Guidelines

Trimester T3 2024
Unit Code HIM6007
Unit Title Statistics for Business Decisions
Assessment Type Group Assignment
Due Date + time: Due on 31/01/2025
11.59 pm (Melb / Sydney time)
Purpose of the Students are required to show understanding of the principles and techniques of
assessment (with ULO business research and statistical analysis taught in the course.
Mapping) 1. Integrate theoretical and practical knowledge from the discipline of Statistics
for Business Decision Making to solve business needs;
2. Synthesise advanced theoretical, practical knowledge from the discipline of
statistics for business decision and be able to apply statistical tools and
techniques to solve business problems;
3. Critically analyse a scenario and apply and justify statistical techniques to
solve business problems and the explain the results to a range of
stakeholders.
4. Work well autonomously as well as within group settings to identify and
apply statistical solutions to a business scenario
Weight 40%
Total Marks Assignment (40 marks)
Word limit N/A, except where specified
Submission Guidelines 1. All work must be submitted on Blackboard by the due date along with a
completed Assignment Cover Page.
2. The assignment must be in MS Word format unless otherwise specified.

Academic Integrity Holmes Institute is committed to ensuring and upholding academic integrity. All
Information assessments must comply with academic integrity guidelines. Please learn about
academic integrity and consult your teachers with any questions. Violating academic
integrity is serious and punishable by penalties that range from deduction of marks,
failure of the assessment task or unit involved, suspension of course enrolment, or
cancellation of course enrolment.
Penalties • All work must be submitted on Blackboard by the due date and time, along with
a completed Assessment Cover Page. Late penalties apply.
• Your answers must be based on Holmes Institute syllabus of this unit. Outside
sources may not amount to more than 10% of any answer and must be correctly
referenced in full. Over-reliance on outside sources will be penalised
• Reference sources must be cited in the text of the report and listed appropriately
at the end in a reference list using Holmes Institute Adapted Harvard
Referencing. Penalties are associated with incorrect citation and referencing.
 Group Assignment Guidelines and Specifications

PART A (20 marks)

Assume your group is the data analytics team in a renowned Australian company. The company offers its
assistance to a distinct group of clients, including (but not limited to) public listed companies, small
businesses, and educational institutions. The company has undertaken several data analysis projects, all
based on multiple regression analysis. One such project is related to the real estate market in Australia,
and the team needs to answer the following research question based on their analysis.

Research question:
How do different factors, such as the size of the land, the number of bedrooms, the distance to the
nearest secondary school, and the number of garage spaces, influence the selling price of residential
properties?

Task

Create a data set (in Excel) that satisfies the following conditions. (You are required to upload the data file
separately).
• Minimum number of observations – 100 observations.
• The data set should be based on houses sold from 01/07/2024 onwards. (To verify the data set,
you are required to add a hyperlink to each property's details from the real estate websites that
you used.)
(5 marks)
Questions

I. Conduct a descriptive statistical analysis in Excel using the data analysis tool. Create a table that includes
the following descriptive statistics for each variable in your data set: mean, median, mode, variance,
standard deviation, skewness, kurtosis, and coefficient of variation. (4 marks)
II. Provide a brief commentary on the descriptive statistics you calculated. Describe the characteristics of
the distribution for each variable based on these statistics. (4 marks)
III. Create an appropriate graph to illustrate the distribution of the number of bedrooms in your data set. (2 marks)
IV. Derive a suitable graph to represent the relationship between the dependent variable and the land size
in your data set and comment on the identified relationship. (3 marks)
V. Based on the data set, perform correlation analysis, and based on the correlation coefficients in the
correlation output, assess the correlation between explanatory variables and check for the possibility of
multicollinearity. (2 marks)
Part B (15 marks)
Assume your group is the data analytics team in a renowned Australian company (CSIRO). You are given
the dataset derived from their recent research. This data compiles fortnightly observations of Logan’s
Dam, a small body of water located near Gatton, in Southeast Queensland. It consists of measurements
taken by CSIRO and the Urban Water Security Research Alliance with the intention of measuring the
impact of the application of an evaporation-reducing monolayer on the dam’s surface.

The measurements recorded indicate the biomasses present (P.plankton and Crustacean) in the dam,
chemicals present in the dam (Ammonia and Phosphorus) , as well as more general measures of water quality
such as pH and temperature.

Research Question:

What are the factors (variables) that significantly impact on the health of the dam in relation to water
Turbidity, and what measures should be taken to ensure its effective maintenance?

Task
Note: Refer the data given the excel file “HIM6007 T3 Dam_Water_Quality_Dataset”

Based on the data set, perform regression analysis and correlation analysis, and answer the questions given
below. (Hint: Turbidity as dependent variable)
I. Derive the multiple regression equation. (2 marks)
II. Interpret the meaning of all the coefficients in the regression equation. (3 marks)
III. Interpret the calculated coefficient of determination. (2 marks)
IV. At a 5% significance level, test the overall model significance. (2 marks)
V. At a 5% significance level, assess the significance of the independent variables in the model. (3 marks)
VI. Based on the correlation coefficients in the correlation output, assess the correlation between
explanatory variables and check for the possibility of multicollinearity. (3 marks)

PART C (5 marks)
I. Based on the answers in PART A above, write a summary of your analysis addressing the research
question (100 -150 words). (3 marks)
II. Based on the answers in PART B above, write a summary of your analysis addressing the research
question (100 words). (2 marks)
 Marking criteria

Marking criteria Weighting

PART A

Data collection (Excel spreadsheet) 5 marks

Descriptive statistical analysis and review (Questions i and ii) 8 marks

Graphical representations of data (Questions iii and iv) 5 marks

correlation output and interpretation of coefficients (Questions v) 2 marks

PART B

Derive the multiple regression equation and interpret the meaning of all the 5 marks
coefficients in the regression equation (Question i and ii)
Interpretation of coefficient of determination (Question iii) 2 marks

Assessing the overall model significance (Question iv and v) 5 marks

Examining the correlation between explanatory variables and checking for the possibility of 3 marks
multicollinearity (Question iv)
PART C

Summary (i and ii) 5 marks

TOTAL Weight 40 Marks

Assessment Feedback to the Student:

 Marking Rubric
Excellent Very Good Good Satisfactory Unsatisfactory

Performing Demonstration of Demonstration of Demonstration of Demonstration of Demonstration of

descriptive outstanding very good good knowledge basic knowledge poor knowledge on
statistical analysis knowledge on knowledge on on descriptive on descriptive descriptive measures
and review of the descriptive descriptive measures measures
calculated values measures measures

Deriving suitable Demonstration of Demonstration of Demonstration of Demonstration of Demonstration of poor

graph to represent outstanding very good good knowledge basic knowledge on knowledge on
the relationship knowledge knowledge on on presentation of presentation of presentation of data
between variables on presentation of presentation of data data using suitable data using suitable chart
data using presentation chart types. using suitable chart types.
using suitable chart of data using types.
types. suitable chart types.

Deriving multiple Demonstration of Demonstration of Demonstration of Demonstration of Demonstration of poor

regression equation outstanding very good good knowledge basic knowledge on knowledge on
based on the knowledge knowledge on on regression regression model regression
regression output. on regression model regression model model estimation estimation and model estimation and
estimation and estimation and and interpretation interpretation interpretation
interpretation
interpretation
Interpreting the Demonstration of Demonstration of Demonstration of Demonstration of Demonstration of
calculated outstanding very good good knowledge basic knowledge on poor knowledge on
coefficient of knowledge knowledge on on coefficient of coefficient of coefficient of
determination. on coefficient of coefficient of determination determination determination
determination
calculation and
determination calculation and calculation and calculation and
interpretation of calculation and interpretation of interpretation of interpretation of
relationship between interpretation of relationship relationship relationship between
variables relationship between variables between variables variables
between variables
Assessing the Demonstration of Demonstration of Demonstration of Demonstration of Demonstration of
overall model outstanding very good good knowledge basic knowledge on poor knowledge on
significance. knowledge on model on model model significance model significance
knowledge on
significance significance
model significance
Assessing the Demonstration of Demonstration of Demonstration of Demonstration of Demonstration of
significance of outstanding very good good knowledge basic knowledge on poor knowledge on
independent knowledge on knowledge on on significance of significance of significance of
variables in the significance of significance of independent independent independent
model. independent independent variables. variables. variables.
variables.
variables.
Examining the Demonstration of Demonstration of Demonstration of Demonstration of Demonstration of
correlation between outstanding very good good knowledge basic knowledge on poor knowledge on
explanatory variables knowledge on knowledge on correlation correlation correlation
and check the correlation correlation coefficient coefficient coefficient
possibility of coefficient calculation, calculation, calculation,
coefficient
calculation, interpretation of interpretation of interpretation of
multicollinearity. calculation,
interpretation of relationship relationship relationship
interpretation of
relationship between variables between variables between variables
relationship between
variables and between variables and assessing and assessing and assessing
assessing and assessing multicollinearity. multicollinearity. multicollinearity.
multicollinearity. multicollinearity.
Addressing research Demonstration of Demonstration of Demonstration of Demonstration of Demonstration of
questions based on outstanding very good good knowledge basic knowledge on poor knowledge on
data analysis knowledge on knowledge on on addressing addressing research addressing
addressing research addressing research research questions based on research questions
questions based on questions based on questions based data analysis. based on data
data analysis. data analysis. on data analysis.
analysis.

Your final submission is due Friday of week ten before midnight.

The following penalties will apply:

1. Late submissions -5% per day.
2. No cover sheet OR inaccuracies on the cover sheet -10%
3. No title page -10%
4. Inaccuracies in referencing OR incomplete referencing OR not in Holmes-adapted-Harvard style -10%

Student Assessment Citation and Referencing Rules

Holmes has implemented a revised Harvard approach to referencing. The following rules apply:

1. Reference sources in assignments are limited to sources that provide full-text access to the
source's content for lecturers and markers.

2. The reference list must be located on a separate page at the end of the essay and titled:
"References".

3. The reference list must include the details of all the in-text citations, arranged A-Z
alphabetically by author's surname with each reference numbered (1 to 10, etc.) and each
reference MUST include a hyperlink to the full text of the cited reference source.
For example:
Hawking, P., McCarthy, B. & Stein, A. 2004. Second Wave ERP Education, Journal of
Information Systems Education, Fall, http://jise.org/Volume15/n3/JISEv15n3p327.pdf

4. All assignments must include in-text citations to the listed references. These must include
the surname of the author/s or name of the authoring body, year of publication, page
number of the content, and paragraph where the content can be found. For example, "The
company decided to implement an enterprise-wide data warehouse business intelligence
strategy (Hawking et al., 2004, p3(4))."

Non-Adherence to Referencing Rules

Where students do not follow the above rules, penalties apply:

1. For students who submit assignments that do not comply with all aspects of the rules, a 10% penalty will
be applied.
2. Students who do not comply with guidelines BUT their citations are 'fake' will be reported for academic
misconduct.
Academic Integrity

Holmes Institute is committed to ensuring and upholding Academic integrity, as Academic Integrity is
integral to maintaining academic quality and the reputation of Holmes' graduates. Accordingly, all
assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six
categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues
related to your assessment tasks, please consult your lecturer or tutor for relevant referencing
guidelines and support resources. Many of these resources can also be found through the Study Sills
link on Blackboard.

Academic Integrity breaches are a serious offence punishable by penalties that may range from
deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment,
or cancellation of course enrolment.

Table 1: Six categories of Academic Integrity breaches

Plagiarism Reproducing the work of someone else without attribution. When a student
submits their own work on multiple occasions this is known as self-
plagiarism.

Collusion Working with one or more other individuals to complete an assignment, in a

way that is not authorised.

Copying Reproducing and submitting the work of another student, with or without
their knowledge. If a student fails to take reasonable precautions to prevent
their own original work from being copied, this may also be considered an
offence.

Impersonation Falsely presenting oneself, or engaging someone else to present as oneself, in

an in-person examination.

Contract cheating Contracting a third party to complete an assessment task, generally in

exchange for money or other manner of payment.

Data fabrication and Manipulating or inventing data with the intent of supporting false
falsification conclusions, including manipulating images.

Source: INQAAHE, 2020

HI6007 Group Assignment T2 2024