ASSIGNMENT 2 FRONT SHEET

Qualification BTEC Level 5 HND Diploma in Business

Unit number and title Unit 42 - Statistics for Management
Submission date 04/09/2022 Date Received 1st submission
Re-submission Date Date Received 2nd submission
Student Name Nguyen Thi Thu Hien Student ID GBC200105

Class GBC0903 Assessor name Ngo Quang Huy

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I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that
making a false declaration is a form of malpractice.
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P4 P5 P6 M3 M4 D2 D3
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 Assignment Brief 2 (RQF)
Higher National Certificate/Diploma in Business

Student Name/ID Number: Nguyen Thi Thu Hien/GBC200105

Unit Number and Title: Unit 42 - Statistics for Management
Academic Year: 2022
Unit Assessor:
Assignment Title: ASSIGNMENT 2 – Application in Business Planning
Issue Date:
Submission Date: 04/09/2022
Internal Verifier Name:
Date:

Submission Format:

Format:
● This assignment is an Individual report.
● You must use font Times New Roman, size 12, set number of the pages and line spacing at 1.5
lines. Margins must be: left: 2.5 cm; right: 2 cm; top: 2 cm and bottom: 2 cm.
● You should use in-text references and a list of all cited sources at the end of the essay by
applying the Harvard referencing style.
● The recommended word limit is 3000-3500 words (+/-10%), excluding the tables, graphs,
diagrams, appendixes and references. You will not be penalized for exceeding the total word
limit.
● The cover page of the report has to be the Assignment front sheet 2 (to be attached with this
assignment brief).
Submission
● Students are compulsory to submit the assignment in due date and in a way requested by the
Tutor.
● The form of submission will be a soft copy posted on http://cms.greenwich.edu.vn/.

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 ● Remember to convert the word file into PDF file before the submission on CMS.
Note:
● The individual Assignment must be your own work, and not copied by or from another student.
● If you use ideas, quotes or data (such as diagrams) from books, journals or other sources, you
must reference your sources, using the Harvard style.
● Make sure that you understand and follow the guidelines to avoid plagiarism. Failure to comply
this requirement will result in a failed assignment.

Unit Learning Outcomes:

LO3 Apply statistical methods in business planning

LO4 Communicate findings using appropriate charts/tables.

Transferable skills and competencies developed

Problem solving and critical analysis:

• The ability to provide information based on collection, analysis and interpretation of data.
• The ability to carry out research for evidence-based decision making
• Conceptual and critical thinking, analysis, synthesis and evaluation
• The ability to support, manage and communicate change by identifying barriers and overcoming them
• Being able to produce reports and provide management information based on the collation, analysis
and interpretation of data.
Vocational scenario

Organisation:
SSI Securities Corporation (SSI - HOSE) - was found in December 1999 as the first privately licensed
securities firm and the smallest one in the market at that time. With 20 years of experience in the
Vietnam financial market, the Company has become a leading financial institution, which has the fastest
growth rate, with its charter capital increasing more than 1000 times.

With strong financial capability, high standard corporate governance, and professional human resource,
SSI provides clients with a comprehensive range of financial products and services, maximizing
shareholders’ value.

Role:

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You are a Research Analyst of SSI Securities Corporation. Your role includes:

 Company analysis and market opportunities.

 Track investments.
 Searching, proposing effective investment plans and solutions to submit to the Leaders.
 Build investment products.
 Searching, appraising and proposing investment opportunities suitable to the Company's
investment criteria.
 Build industry database and make valuation reports, industry analysis as required.

Assignment Brief and Guidance:

* This assignment guidance can be customized by the tutor to meet specific needs
Assignment scenario
You are a Research Analyst of SSI Securities Corporation. Your corporation is planning to make
business reports of some Vietnamese companies/industries by applying several statistical methods.

Precisely, you are required to demonstrate your understanding by applying statistical techniques in
analysing Vietnamese companies’ business planning and operations management (if possible, with the
same dataset from the first assignment).

Structure of the Report

Introduction (inheriting from Assignment 1 and developing the additional methodology applied in this
assignment)

1. Background and the reasons why you choose the topic

2. Objectives, scope, and meaning of the study

3. Methodology (changed)

4. Structure of the report (changed)

Main contents

1. Apply a range of statistical methods used in business planning for quality /inventory/ capacity

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management

a. Measuring the variability in business processes or quality management.

b. Probability distributions and application to business operations and processes.
c. Inferential statistics illustrating the differences between population and sample based on
different sampling techniques and methods
 One sample T-test: Estimation and Hypotheses testing.
 Two sample T-test: Estimation and Hypotheses testing.
 Measuring the association between two variables (from the dataset) by regression
technique.
d. Make valid judgements (on assumptions and results) and recommendations for improving
business planning through several applications of statistical methods above.

2. Create/draw different types of visual representations (frequency tables, simple tables, pie charts,
histograms) for variables in the dataset. Explain the advantages and disadvantages of each visual
representation.

3. For a given variable in the dataset:

a. Use two different visual representations to describe this variable.

b. Evaluate the appropriateness of above visual representations and justify your choices.

Conclusion

Write a conclusion of findings and recommendations to support decision-making and business planning
processes in your organisation.

Recommended Resources

Please note that the resources listed are examples for you to use as a starting point in your research – the list is not definitive.

Web links:
General Statistics Office of Vietnam. Available at:

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https://www.gso.gov.vn/en/homepage/
SSI Securities Corporation. Available at:
https://www.ssi.com.vn/

HN Global
HN Global (2021) Reading Lists. Available at: https://hnglobal.highernationals.com/learningzone/
reading-lists
HN Global (2021) Student Resource Library. Available at: https://hnglobal.highernationals.
com/subjects/resource-libraries
HN Global (2021) Textbooks. Available at: https://hnglobal.highernationals.com/textbooks

Textbooks
ANDERSON, D. et al (2020). Statistics for Business & Economics. 14th Ed. Cengage Learning

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Learning Outcomes and Assessment Criteria (Assignment 2):
Learning Outcome Pass Merit Distinction
P4 Apply a range of
D2 Make valid
statistical methods
M3 Justify the use of recommendations and
used in business
LO3 Apply statistical appropriate statistical judgements for
planning for quality,
methods in business methods, supported by improving business
inventory and capacity
planning specific organisational planning through the
management.
examples. application of
statistical methods.
P5 Assess different
types of visual
representations for M4 Evaluate the use
communicating of different types of
LO4 Communicate D3 Justify the
findings effectively. charts and tables for
findings using rationale for choosing
effectively
appropriate the method of
P6 Using appropriate communicating
charts/tables communication.
charts and tables, findings for given
communicate findings variables.
for given variables
effectively.

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EXECUTIVE SUMMARY
As a research analyst. My organization wants to improve the information system and
decision-making process by using various statistical methods. I was specifically instructed to
use the examination and analysis of business data to demonstrate my comprehension of the
subject matter. Applying a range of statistical methods used in business planning for quality,
inventory, and capacity management and different types of visual representations are shown
in the report.

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TABLE OF CONTENTS
I. INTRODUCTION................................................................................................................12
II. MAIN CONTENTS............................................................................................................12
1. Apply a range of statistical methods used in business planning for quality /inventory/
capacity management...........................................................................................................12
1.1. Statistical methods used to measure the variability in business processes or quality
management.....................................................................................................................12
1.1.1. Range.............................................................................................................12
1.1.2. Variance.............................................................................................................13
2.1.3. Standard deviation.............................................................................................16
1.2. Probability distributions and application to business operations and processes.......16
1.2.2. Types of Probability distributions and their applications..................................16
1.2.2.1. Uniform Distribution........................................................................................
1.2.2.2. Normal Distribution..........................................................................................
1.2.2.3. Poisson Distribution..........................................................................................
1.2.2.4. Exponential Distribution...................................................................................
1.2.2.5. Statistical Quality Control................................................................................
1.3. Inferential statistics...................................................................................................20
1.3.1. Definitions.........................................................................................................20
1.3.2. Sampling methods.............................................................................................20
1.3.3. Inferential statistics illustrating the differences between population and sample
based on different sampling techniques and methods.................................................22
1.3.3.1. One sample T-test: Estimation and Hypotheses testing...................................
1.3.3.2. Two sample T-test: Estimation and Hypotheses testing...................................
1.3.3.3. Regression analysis...........................................................................................
2. Different types of visual representations.........................................................................29
2.1. Types of visual representations................................................................................29
2.1.1. Frequency table..................................................................................................29
2.1.2. Simple tables......................................................................................................30
2.1.3. Pie charts............................................................................................................31
2.1.4. Histograms.........................................................................................................32
2.2. Application of different types of visual representations to the dataset.....................33
2.2.1. Data table...........................................................................................................33
2.2.2. Frequency table..................................................................................................33
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 2.2.3. Pie chart.............................................................................................................34
2.2.4. Histogram..........................................................................................................34
III. CONCLUSION..................................................................................................................35
References................................................................................................................................36

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I. INTRODUCTION
The purpose of sustainable products aims to raise the quality of life while putting the
demands of future generations at risk by using fewer resources, less hazardous materials, and
producing fewer pollutants over the duration of their useful lifetimes. Consumer behaviour
must change in order to attain sustainable consumption.
The first privately licensed securities business and the smallest company on the
market at the time, SSI Securities Corporation (SSI - HOSE) was established in December
1999. After 20 years of operation, the Company has seen its charter capital increase more
than a thousand times, making it a leading financial institution with the quickest growth rate
in Vietnam's financial sector.
The purpose is to examine the information gathered from customers who bought
environmentally friendly items in Vietnam. For SSI Securities Corporation, the findings have
application.
This study will use data from Tran, Nguyen and Tran (2022) to demonstrate the statistical
technique used to analyze factors affecting sustainable consumption intention in Vietnam.
The report consists of three-part. The first is an introduction to the purpose and the
company. The next is to apply a range of statistical methods used in business planning for
quality, inventory, and capacity management and different types of visual representations.
Finally, a conclusion about this report.

II. MAIN CONTENTS

1. Apply a range of statistical methods used in business planning for quality /inventory/
capacity management
1.1. Statistical methods used to measure the variability in business processes or quality
management
Please indicate the definitions and provides the example of the following aspects
1.1.1. Range
Definition
The range is simply the highest value minus the lowest value.

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Example

(Source: Author’s proposal)

Range= largest value – smallest value= 40 – 2= 38
1.1.2. Variance
Definition
The statistical assessment of the variation in numbers within a data collection is
known as a variance. In more detail, variance calculates how far apart each number in the set
is from the average (mean) and, consequently, from each other numbers in the set (Hayes,
2022).
Formula

Explanation

  = sample standard deviation

  = sum of…
  = each value
  = sample mean
  = number of values in the sample

The variance of a population

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Formula

Explanation

  = population standard deviation

  = sum of…
  = each value
  = population mean
  = number of values in the population

Example
There are five main steps for finding the variance by hand. We’ll use a small data set
of 6 scores to walk through the steps (Bhandari, 2022).
Step 1: Find the mean
To find the mean, add up all the scores, then divide them by the number of scores.

Step 2: Find each score’s deviation from the mean

Subtract the mean from each score to get the deviations from the mean.
Since x̅ = 50, here we take away 50 from each score.

Step 3: Square each deviation from the mean

Multiply each deviation from the mean by itself. This will result in positive numbers.

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Step 4: Find the sum of squares
Add up all of the squared deviations. This is called the sum of squares.

Step 5: Find the variance

Divide the sum of the squares by n – 1 (for a sample) or N (for a population) – this is
the variance.
Since we’re working with a sample size of 6, we will use n – 1, where n = 6.

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2.1.3. Standard deviation
Definition
The Standard Deviation is a more accurate and detailed estimate of dispersion
because an outlier can greatly exaggerate the range. The Standard Deviation shows the
relation that set of scores has to the mean (Williams,
The standard deviation of a sample is s= √ s 2
The standard deviation of a population is ∂ = √ ∂2
Example

Find the square root of the variance

To find the standard deviation, we take the square root of the variance. We use the
variance result from the example above to find the standard deviation.

1.2. Probability distributions and application to business operations and processes

1.2.1. Definition
A probability distribution is a table or an equation that links each possible value that a
random variable can assume with its probability of occurrence (Heman, 2022).
1.2.2. Types of Probability distributions and their applications
1.2.2.1. Uniform Distribution
Definition

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 The uniform distribution often called the rectangle distribution, is a kind of
probability distribution with a fixed probability. The probability distribution in which each
result has the same probability is known as a uniform probability distribution. When there is
no obvious "preferred" outcome and all outcomes are equally likely, the uniform probability
distribution is frequently utilized (Kumar, 2022).
Examples
For example, when flipping a coin, the two possible outcomes (heads or tails) are
both equally likely, so a uniform probability distribution can be used to model the flip.
Similarly, when rolling a die, all six outcomes are equally likely, so a uniform probability
distribution can again be used. The uniform probability distribution is a very important tool
in statistics and is used in many real-world applications.

(Source: Kumar)
1.2.2.2. Normal Distribution
Definition
A specific kind of continuous probability distribution for a random variable with a
real value. The majority of the observations are centred around the central peak of this form
of symmetric distribution, and the probability for values that are further from the mean taper
off equally in both directions. A bell-shaped density curve with a mean and standard
deviation is used to represent it. (Kumar, 2022). The Gaussian distribution is another name
for it. It has the following characteristics:
-Symmetrical bell form
-Equal in value and situated in the middle of the distribution are mean and median.

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-The data is within one standard deviation of the mean 68% of the time.
-The data is within 2 standard deviations of the mean for 95% of the time.
-The data is within 3 standard deviations of the mean in 99.7% of the cases.
Examples
Here is a sample normal distribution curve:

1.2.2.3. Poisson Distribution

Definition
An event will most likely occur a certain number of times during a certain period of
time or space if it occurs at a known average rate and regardless of the interval since the last
event, according to the Poisson distribution, which is a discrete probability distribution. It is
utilized for autonomous occurrences that take place continuously throughout a predetermined
period of time. Keep in mind that the Poisson distribution has a relationship to both time and
space. The requirement for events to be independent of one another is another crucial concept
(Kumar, 2022).
Examples
Customers calling a help center: On average, there are, say, 10 customers which call
in an hour. Thus, Poisson distribution can be used to model the probability of a different
number of customers calling within an hour (say, 5 or 6 or 7 or 8 or 9 or 11 customers, etc).
The diagram below represents.
Here is a sample diagram representing the probability distribution for a given lambda (rate of
change of event).

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1.2.2.4. Exponential Distribution
Definition
A Poisson process's exponential distribution, which is a continuous probability
distribution, indicates how long it takes for the next event—a success, failure, arrival, etc.—
to occur. The exponential distribution is utilized to describe the interval between each client
call, taking its lead from the Poisson distribution example seen in this post. Recall that, given
a specific rate, the Poisson distribution is used to describe the probability distribution of the
number of customer calls within an hour (lambda). To put it simply, the waiting period
before the next occurrence could be modeled using the exponential distribution. One of the
frequently employed distributions in reliability engineering is this one (Kumar, 2022).
Examples
Here is the sample plot representing the exponential distribution:

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1.2.2.5. Statistical Quality Control
Definition
A Statistical Quality control system performs inspection, testing, and analysis to
conclude whether the quality of each product is as per laid quality standards or not. It’s called
‘‘Statistical Quality Control’’ when statistical techniques are employed to control the quality
or to solve the quality control problem. SQC makes inspection more reliable and, at the same
time, less costly. It controls the quality level of the outgoing products (Blogmech, 2022).
Examples
For example, SQC serves as a medium allowing manufacturers to attain maximum
benefits by following controlled testing of manufactured products. Using this procedure, a
manufacturing team can investigate the range of products with certain values that can be
expected to reside under some existing conditions. The information is precisely validated for
a number of similar products and be informed to the producer and the purchaser.
1.3. Inferential statistics
1.3.1. Definitions
Inferential statistics concentrate on highlighting the main aspects of a dataset. In
contrast, inferential statistics concentrate on drawing conclusions about a broader population
from a sample that is representative of that group. Results from inferential statistics typically
take the form of probabilities because their main goal is to make predictions rather than state
facts (Hillier, 2021).
1.3.2. Sampling methods
Probability sampling means that every member of the population has a chance of
being selected. It is mainly used in quantitative research (McCombes, 2022).
a. Random sampling
In a simple random sample, every member of the population has an equal chance of
being selected. The sampling frame should include the whole population (McCombes, 2022).
Example

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b. Stratified sampling
Stratified sampling involves dividing the population into subpopulations that may
differ in important ways. It allows us draw more precise conclusions by ensuring that every
subgroup is properly represented in the sample (McCombes, 2022).
Example

c. Cluster sampling
Cluster sampling also requires segmenting the population into smaller groups, but
each group should share traits with the entire sample (McCombes, 2022).
Example

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d. Systematic sampling techniques
Systematic sampling is similar to simple random sampling, but it is usually slightly
easier to conduct. Every member of the population is listed with a number, but instead of
randomly generating numbers, individuals are chosen at regular intervals (McCombes, 2022).
Example

1.3.3. Inferential statistics illustrating the differences between population and sample
based on different sampling techniques and methods
1.3.3.1. One sample T-test: Estimation and Hypotheses testing
Definition
One sample T-test is a statistical test used to assess whether a population mean that is
unknown differs from a particular value (Statstree, 2022).
The formula of one sample T-test:

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If the population standard deviation (σ) is known:

X−μ 0
σ
√n
X is the sample mean, 
μo is the hypothesized population mean, 
σ  is the standard deviation of the population
n is the number of sample observations
Examples
The average capacity of a particular product is 500 ml. There are currently 6 products
available. The capacity of these products are as follows.

No Milliliters (ml)
1 500
2 491
3 511
4 532
5 488
6 495
(Source: Author’ proposal)
The manager wants to compare whether or not the average capacity of this batch is equal to
500ml.

Hypothesis development
H0: the average capacity of the sample is equal to 500ml
H1: the average capacity of the sample is not equal to 500ml

Calculate sample characteristic

- Sample size n = 6
- Sample mean = 502.8
- Standard deviation = 16.4

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t= (502.8-500)/ 16.4/√ 6 = 0.418
The p-value is .690356. The result is not significant at p < .05.
=> Reject H1 accept H0
Conclusion: The average capacity of the sample is equal to 500ml.

1.3.3.2. Two sample T-test: Estimation and Hypotheses testing

Definition
A two sample T-test is employed to establish the equality of two population means (Statstree,
2022).
We use the following formula to calculate the test statistic t:
Test statistic: ( x 1–  x 2)/sp(√ 1/n 1  + 1/n 2)
where  x 1 and  x 2 are the sample means, n1 and n2 are the sample sizes, and where sp is
calculated as:
sp = √ (n 1 -1) σ1 2 +(n 2 -1)σ 2 2 /(n 1 +n 2 -2) 
Where σ 12 and σ 22 are the sample standard deviations.
If σ 12 and σ 22 are unknown.
sp = √ (n 1 -1)s 12 +(n 2 -1)s 2 2 /(n 1+n 2-2) 
Where s12 and s22 are the sample standard deviation.
If the p-value that corresponds to the test statistic t with (n 1+n2-2) degrees of freedom is less
than your chosen significance level (common choices are 0.10, 0.05, and 0.01) then you can
reject the null hypothesis.

Examples
The company has two factories: factory A and factory B. There is a complain that the
products from factory A is different to the products from factory B. In this regard, the
manager wants to know whether or not there is a difference. The products from factory A and
B are as follows.
Products from factory A (kg) Products from factory B (kg)
120 100
100 110

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 140 140
150 100
110 140
180 160
100
(Source: Author’ proposal)

Factory A:
Sample size n1 = 6
Sample mean volume x1 = 133.3 kg
Sample standard deviation s1 = 29.439
Factory B: Sample size n2 = 7
Sample mean volume x2 = 121.4 kg
Sample standard deviation s2 = 24.784

Hypothesis development
H0: There is no difference in between products from factory A and products from factory B.
H1: There is a difference in between products from factory A and products from factory B.

Calculate the test statistic t.

Calculate the pooled standard deviation sp:
sp = √ (n 1 -1)s 12  +  (n 2 -1)s 22  /  (n 1+n 2 -2)  = 
√ (6-1)*29.439 2  +  (7-1)*24.784 2 /(6+7-2) = 68.325

Calculate the test statistic t:

t = ( x 1–  x 2)  /  sp(√ 1/n 1  + 1/n 2) = 
(133.3-121.4)/68.325(√ 1/6 + 1/7) = 0.096

df = 6 + 7 - 2 = 11

The p-value is 0.924626The result is not significant at p < .05.

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Conclusion:
There is no difference in between products from factory A and products from factory B.

1.3.3.3. Regression analysis

Definition
Regression analysis is a statistical technique for studying linear relationships
(Kellogg, 2022).
Formula

• y is the predicted value of the dependent variable (y) for any given value of the
independent variable (x).
• B0 is the intercept, the predicted value of y when the x is 0.
• B1 is the regression coefficient – how much we expect y to change as x increases.
• x is the independent variable (the variable we expect is influencing y).
• e is the error of the estimate, or how much variation there is in our estimate of the
regression coefficient.
Examples
Question
The following table shows the information about shoes sold in a year and the number
of TV ads. The managers want to know whether or not the TV ads are effective. In this
regard, regression analysis is used to examine.

TV Ads Shoes sold

2 80
1 55
3 20
1 15
3 29
(Source: Author’ proposal)

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Answers
Determine the hypothesis
H0: There is no correlation between shoes sold and TV ads.
H1: There is a correlation between shoes sold and TV ads.
Specify the level of significance
α=0.05
Using excel to calculate

Multiple R 0.718087 Intercept 10

R Square 0.515649 Coefficient 5
Adjusted R Square 0.354198 p-value of intercept 0.377
Standard Error 0.803618 p-value of coefficient  0.171
Observations 5    
(Source: Author’ proposal)

Select the p-value

Intercept p=0.377 > 0.05 => no significant
Coefficient p=0.171 > 0.05=> no significant
State the rejection or acceptance of hypothesis
Accept H0: There is no correlation between shoes sold and TV ads.

Question
Bonus Commission
Pen sold Ads cost (milion
(million (million VND)
(Y) VND) (X1)
VND) (X2) (X3)
12 8 5 4
20 13 7 5
15 18 8 5
29 20 15 9

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 20 40 20 8
25 29 15 7
(Source: Author’ proposal)

Answer
Determine the hypothesis
Hypothesis of the relationship between pen sold and ads cost
H10: There is no correlation between pen sold and ads cost.
H1a: There is a correlation between pen sold and ads cost.
Hypothesis of the relationship between pen sold and bonus
H20: There is no correlation between pen sold and bonus.
H2a: There is a correlation between pen sold and bonus.
Hypothesis of the relationship between pen sold and commission
H30: There is no correlation between pen sold and commission.
H3a: There is a correlation between pen sold and commission.
Specify the level of significance
α=0.05
Using excel to calculate
Multiple R 0.905959  
R Square 0.820762  
Adjusted R 0.551906
Square  
Standard Error 4.178603  
Observations 6  
  Coefficient p-value
Intercept -4.5212 0.802
Ads cost 0.327196 0.808
Bonus -1.70352 0.697
Commission 5.934004 0.395
(Source: Author’ proposal)

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Select the p-value
Intercept
p= 0.802 > 0.05 => no significant
The relationship between pen sold and ads cost
p=0.808 > 0.05 => no significant
The relationship between pen sold and bonus
p= 0.697 > 0.05 => no significant
The relationship between pen sold and commission
p= 0.395 > 0.05 => no significant
State the rejection or acceptance of hypothesis
Accept H10: There is no correlation between pen sold and ads cost.
Accept H20: There is no correlation between pen sold and bonus.
Accept H30: There is no correlation between pen sold and commission.

2. Different types of visual representations

2.1. Types of visual representations
2.1.1. Frequency table
Definitions
Frequency tables show the number of occurrences of an event or outcome (Vigil, 2021).
Example
For example, since Sue needs to know how many customers make purchases on a
daily basis, she could set up a frequency table by days. Now, she can keep a tally, or a
running total, of how many customers come in each day and make purchases. After the week,
her completed frequency table looks like this:
Notice that she also added a frequency column that totals the number of tally marks at
the end of each day. This helps her interpret her data quickly.
According to this table, she had 18 customers make a purchase on Monday, 13 on Tuesday,
20 on Wednesday, 14 on Thursday, 21 on Friday, 27 on Saturday, and 26 on Sunday. She can

29
use this data now to decide on which days she'll need the most employees on hand and the
days on which she can afford to have fewer employees working.

Figure 1: Frequency table

(Source: Vigil)
2.1.2. Simple tables
Definitions
In this case, a simple table has a maximum of one header row and one header column,
where the header column identifies the sort of data that will be contained in the column. A
simple table also doesn't have any merged cells (Fag-all, 2021).
Example

Marks 6 7 8 9 10
Number of 10 5 8 2 1

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 students
(Source:Fag-all)
2.1.3. Pie charts
Definitions
A circle with regions, or slices, is referred to as a pie chart. The count or percentage
of observations at each level for the variable is represented by a slice. In business, pie charts
are frequently utilized (JMP, 2022).
Example
Examples include showing percentages of types of customers, percentage of revenue
from different products, and profits from different countries. Pie charts can be helpful for
showing the relationship of parts to the whole when there are a small number of levels. For
example, a good pie chart might show how different brands of a product line contribute to
revenue, as seen in Figure 1.

Figure 2: Pie chart with four variables

31
 (Source: JMP)
2.1.4. Histograms
Definitions
A histograms is a graph that shows how the data are distributed. In other terms, a
histogram is a graph that displays a numeric variable's value distribution as a set of bars.
Histograms are created using sets of rectangles that are positioned next to one another, with
each bar representing a different type of data (Helpingwithmath, 2005).
Example
Solution
We have been given the data
Academic 1996- 97 1997- 98 1998- 99 1999- 2000 2000- 2001
year
Number of 50 75 80 150 120
students
We need to prepare a histogram for this data. We shall plot the years on the x – axis and the
number of students on the y – axis. The histogram for this data shall be

Figure 3: Histogram

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 (Source: Helpingwithmath)
Let us understand the different parts of the histogram.
2.2. Application of different types of visual representations to the dataset
2.2.1. Data table

(Source: Author’s proposal)

2.2.2. Frequency table

Gender Frequency
Male 228
Female 323
Total 551
(Source: Author’s proposal)

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2.2.3. Pie chart

(Source: Author’s proposal)

2.2.4. Histogram

(Source: Author’s proposal)

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III. Conclusion
I learned several important statistical ideas and related materials during my research
and writing of this paper. Overall, statistics are critical to the growth of any company, large
or small. To give their company a competitive advantage, researchers must learn how to
apply these statistical approaches effectively and understand the sources of their data.

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Tyagi, N., 2022. What is Statistical quality control? | Analytics Steps. [online]
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