FIN10002: Financial Statistics - Correlation and Regression - Finance Assignment Help

Assignment Task:

Finance Assessment Task

Task 1: Random data sample Select a random sample of size 60 from the given 2338 lodgments in the Taxation lodgment data set for 2014. You will use this sample data to complete tasks 2 to 6.

Task 2: Descriptive statistics Use data summary methods to describe the returns in your sample using seven variables. These seven variables are items 2 to 8 above. Do not use item 1, Id No. Use an appropriate graphical and summary statistical technique, chosen according to the type of variable. Less appropriate/inappropriate techniques will receive fewer/no marks. Choose your techniques from the following: Tabular techniques: frequency tables and grouped frequency tables. Summary statistics: mode, median, mean, standard deviation, range, coefficient of variation and interquartile range. Graphical techniques: pie chart, bar graph, histogram, frequency polygon. Do not draw an ogive curve, stem plot or a box plot in this assignment, and do not draw 3D graphs. Use the following guidelines to assist you:

1. For a nominal or an ordinal variable, draw a graph and present a frequency table in percentages.

2. For a ratio or an interval variable, draw a graph and a summary statistics table, including summary statistics appropriate to the type of distribution only.

3. Try to use variation in drawing graphs e.g. pie chart/bar chart or histogram/polygon.

4. Do not draw two different graphs for the same variable. You can draw the same type of graph for two variables.

5. Do not include any information that you will not include in your discussion such as kurtosis.

6. Display and describe one variable at a time.

Task 3: Confidence intervals Estimate the following quantities, using 95% confidence intervals and explain the meaning of your confidence intervals:

Assignment 2:

1. The average salary/wages amount for agent lodged returns only.

2. The average work-related deductions for all sample lodgments. Compare both intervals with their respective true means by calculating the actual population mean for the full 2338 lodgments. Then comparing the true population mean to the sample mean and confidence interval. It is not usual to do this, however you are required to do this for the purpose of this assignment. This is so they can be checked.

Task 4:

Hypothesis testing 1. It is often felt that the occupation of professionals earns more on average than technicians and trades workers. Investigate this contention by carrying out an appropriate hypothesis test. 2. It is often felt that the average taxable income, differs for males and females. Use gender to carry out an appropriate hypothesis test. Only report a non-technical explanation of your methodology and your findings in the main section of the report. The computations and output should be placed in an appendix, including the test statistic, p-value and degrees of freedom. This should take half a page or less.

Task 5: Correlation and regression In this section, you will investigate the relationship between the taxable income and the age range. Using these two variables  develop a regression model to predict average taxable income from the age of the lodger. Make sure that you undertake a full regression analysis, with appropriate discussion and include: a scattergram and a brief discussion an estimate of the linear regression model the coefficients of correlation and determination a test of the hypothesis that there is no linear relationship between age range and taxable income for each lodgment. Ensure your scattergram includes a line of best fit. Also, make sure you describe the relationship between the variables using R and R-square and interpret the slope, coefficients and the results of the hypothesis test. Use a significance level of 0.05. Task 6: Conclusion Provide a brief, concise summary of all your findings and briefly mention any limitations in your findings.

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