BUS105 Statistics Tutor-Marked Assignment Question | SUSS

BUS105 TMA Question 1

a.

(i) Provide a descriptive summary for the entire sample of IST’s sensor accuracy data. You should first report the most relevant descriptive statistics in one (1) table (using two decimal places), and subsequently state and interpret these statistics. Create two (2) charts that can visualize the distribution of the data. Ensure the charts are properly formatted. Briefly describe and comment on the two (2)

Please limit the answer to within two (2) pages.

(25 marks)

(ii) Since the industry standard model’s population mean and standard deviation are known, calculate the probability of obtaining a larger sample mean than IST’s sensor accuracy. Justify the use of your analysis method. Explain how IST’s IoT-enabled sensor performs relative to the standard industrial model.

Please limit the answer to within one (1) page.

(15 marks)

b. Use one (1) boxplot that displays BSE and TSC data side-by-side, and one (1) table with the most relevant descriptive statistics to compare the differences in IoT-enabled sensors’ performance between BSE and TSC.

Based on the background provided and the data summaries you have produced, describe and interpret the differences in the IoT-enabled sensors’ performance between the two contractors.

Please limit the answer to within two (2) pages.

(25 marks)

c. The CEO of IST requests you to develop a concise executive summary that consolidates and interprets your findings, including the IST sensor’s accuracy relative to the industry standard and the comparison of the two contractors.

In the executive summary, you are asked to highlight one (1) concern about the sampled data and include one (1) suggestion about improving sampling quality. You should use this opportunity to explain how using quantitative statistical methods facilitates informed decision-making at IST.

Your summary should be less than 300 words. Note: please indicate the word count.

(35 marks)

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