BUSA6004 Introduction to Inference, Modelling, and Forecasting Individual Assignment 1 Session 1 2025 | MU

BUSA6004 Assessment Description

• The assignment questions appear at the end of this document.

Skills in Focus for This Assessment

• Discipline Knowledge
• Digital, Data, and Information Literacy
• Critical Thinking and Problem Solving

BUSA6004 Assessment Instructions

• Please convert your Word document into a PDF before submission.
• Please submit your Excel file in the separate link that is provided.

Question 1 - Data Summary (10 Marks)

This question relates to the entire data set.

Choose one of the following 3 variables: Distance from City, Land Size, Building Area.

For the variable of your choosing:

• Provide numerical summaries of centredness and spread.
• What are some insights that you can draw from your summaries above?
• What further steps would you take to provide more depth to these numerical and graphical summaries?

Question 2 - Statistical Test (10 Marks)

This question relates to a filtered version of the dataset.

Choose one of the following: Price of Units, Price of Houses (you will have to sort/filter your spreadsheet).

For the variable of your choosing:

• Perform a statistical test to test whether there is evidence that the average price is greater than $1.2 million (for Houses) or the average price is greater than $0.7 million (for Units). In your response, show all the steps of a hypothesis test.

The two dot points below should be answered within 100-200 words:

• What are some insights that you can draw from your test above?
• What further analysis would you conduct to provide more depth to this test?

Question 3 - Correlation Analysis (10 Marks) 

This question relates to the entire data set - that is, make sure you turn all filters off. 

Choose any two pairings from the following: Price, Distance from City, Land Size, Building Area. 

For each of the two pairings that you have chosen:

• Examine the graphical and numerical correlation. 

The two dot points below should be answered within 100-200 words: 

• What are some insights that you can draw from your analysis above?
• What further steps would you take to provide more depth to this correlation analysis? 

Question 4 - Business Insights (10 Marks) 

Your response to this question should be 175 - 225 words. 

Suppose that you are a business analyst who is employed by a construction company. Analyse your findings above to provide business insights and strategic direction to your company as they formulate their medium-to-long-term business strategy. You can complement your analysis with research; however, you must refer to the analysis from this data set in your answer. 

In answering this question, apply the insights shared by the industry guest panel in our first lecture - about using data to gain the buy-in of stakeholders and using data to tell a story. 

Reminders 

• Please label your question numbers clearly in your submission.
• You do not need to copy the question into your Word document.
• Please convert your Word document to a PDF before submission.
• Please remember that there will be a separate submission link for your Excel file and your PDF file.