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FIN60003 The Melbourne Law Firm

Select a random sample of size 100 from the given 810 cases (remember that 810 cases constitute the population of interest and you are not allowed to calculate any parameters such as mean and standard deviation). You will use this sample data to complete tasks 2 to 5.
2. Descriptive Statistics
Use appropriate data summary methods to describe the (data name) data in your sample using the (number of) variables. Use an appropriate graphical and/or summary statistical technique, chosen according to the type of variable. These techniques will be chosen from:

Tabular Techniques: e.g. Frequency tables and Grouped (joint) frequency tables.Graphical Techniques: e.g. Pie chart, Bar graph, Histogram (avoid three dimensional graphs).Summary Statistics: e.g. Mode, Median, Mean, Standard Deviation, Range, Coefficient of Variation and Interquartile Range.You will need to choose the most appropriate technique(s) for each variable being analysed. Less appropriate/inappropriate techniques will receive fewer/no marks.There are seven variables all together to be analysed. For paired variables (before and after), only analyse before variables.For a nominal or an ordinal (discrete) variable draw a graph and present a frequency table in percentages.For a ratio or an interval variable (continuous) draw a graph and a summary statistics table.Try to use variation in drawing graphs e.g. pie chart/ bar chart or histogram as much as possible.Do not draw two different graphs for the same variable.

3. Confidence intervals
Estimate the following quantities, using 95% confidence intervals. Explain the meaning of your confidence intervals.
i. The average age of employees.
ii. The average total time spend on social media.
Compare both intervals with their respective true means.

4. Hypothesis Testing
Margaret has some assumptions about the impact of time spent on social media on employees’wellbeing and wants to check their validity. She also wants to know whether her initiatives have been successful or not. Investigate these contentions by carrying out appropriate hypothesis tests.
i. It is often felt that female employees spend more time on average on social media than male employees do.
ii. After implementation of the new initiatives, employees’ stress levels have decreased.
iii. After implementation of the new initiatives, employees feel they receive more support from their peers. 
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.

5. Correlation and Regression
In this section, first, Jason intends to investigate the relationship between the time spent on social media and employees’ productivity. As the second test, he investigates the relationship between the time spent on social media and employees’ job satisfaction. For these tests use before data. Use these variables to develop two regression models and make sure to provide full discussions on each test. You discussions for each test should include:
a scattergram and full interpretation
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 dependent and independent variables

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