BUS405 Statistical Methods in Business and Economics

FINAL ASSIGNMENT

Instruction : Please answer 3 questions, of which Question 1 is compulsory.

All questions carry equal marks. Please do not write over

2000 words for the entire assignment.

1. For the following scatter plot, what would be your best estimate of the correlation coefficient?

2. Elaborated with examples and supportive references as to how can index numbers be helpful in understanding time-related data?
3. Discuss which statistical tests to apply for different types of data and how to interpret the results. Support your answer with suitable examples and supportive references.
4. Nonparametric statistical techniques are based on fewer assumptions about the population and the parameters compared to parametric statistical techniques. Discuss this statement with suitable examples and supportive references.