Instructions To Candidates: This Take-Home Assessment

Instructions To Candidates1 This Assessment Is Take Home Exam Which

This assessment is a take-home exam intended as a substitute for the final exam, to be completed individually. Candidates must include their name and student number on the heading page. The assessment accounts for 50% of the total marks for this module, and all questions must be answered. Clear workings should be shown where necessary, with each answer starting on a new page. Plagiarism, including copying or duplication, is strictly prohibited and considered a serious offence. Limit discussions around theoretical questions to concise words, as the assessment emphasizes calculations, computations, and correct application of management accounting concepts. All work must be original, properly cited, and submitted through Turnitin with appropriate references.

Paper For Above instruction

The purpose of this exam is to assess students' understanding and application of quantitative methods in business, specifically through calculations, statistical analysis, and interpretation of results. The exam comprises various questions covering regression analysis, probability distributions, hypothesis testing, and fundamental sampling techniques. Each question requires critical thinking and precise computations to demonstrate mastery of the subject matter.

First, students are asked to perform regression analysis using provided data to predict the value of a dependent variable based on an independent variable. This involves deriving the regression equation, calculating coefficients, and applying the model for a specific x value, followed by an interpretation of the findings. Accurate calculations and clear explanations are essential to demonstrate understanding.

The second question deals with probability, where students must construct a binomial distribution based on the success probability of a salesperson across multiple independent attempts. Calculations include deriving the probability distribution, expected value, and variance, reflecting the application of binomial probability theory in practical contexts.

The third question examines normal distribution in the context of accident data on a construction site. Students are asked to compute probabilities for events exceeding or falling below certain thresholds, utilizing properties of the normal distribution and z-scores, supported by area-under-curve calculations or standard normal tables.

Next, students are challenged to conduct a hypothesis test comparing graduate salary data from a survey, involving sample mean, population mean, and standard deviation, at a 5% level of significance. Critical values and test statistics must be calculated to determine if the salary has changed significantly over time.

The remaining questions in the second section request explanations of basic sampling concepts, including judgmental sampling, response rates, sample size, and differentiation between probability and non-probability sampling. These conceptual questions assess students' theoretical understanding and ability to articulate key sampling principles in research methodology.

References

  • Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. (2016). Statistics for Business and Economics (12th ed.). Cengage Learning.
  • Bluman, A. G. (2018). Elementary Statistics: A Step By Step Approach (9th ed.). McGraw-Hill Education.
  • Field, A. (2013). Discovering Statistics Using IBM SPSS Statistics (4th ed.). SAGE Publications.
  • Gutiérrez, C., & Gascón, F. (2010). Sampling methods in research. Journal of Statistical Planning and Inference, 140(11), 3090–3100.
  • Kothari, C. R. (2004). Research Methodology: Methods and Techniques. New Age International.
  • Levin, R. I., & Rubin, D. S. (2004). Statistics for Management (7th ed.). Pearson Education.
  • Montgomery, D. C., & Runger, G. C. (2014). Applied Statistics and Probability for Engineers (6th ed.). Wiley.
  • Ross, S. M. (2014). Introduction to Probability Models (11th ed.). Academic Press.
  • Walpole, R. E., Myers, R. H., Myers, S. L., & Ye, K. (2012). Probability & Statistics for Engineering and the Sciences (9th ed.). Pearson.
  • Zikmund, W. G., Babin, B. J., Carr, J. C., & Griffin, M. (2013). Business Research Methods (9th ed.). Cengage Learning.

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