Executive summary
In this study, we are interested in using the statistical knowledge that we have acquired to make an analysis of the bank data. From the bank data, a sample of 50 observations as obtained randomly and at first the descriptive analysis was conducted. The descriptive analysis was conducted to examine he characteristics of the sample obtained from the bank data, a confidence interval of each of the mean in the variables age, balance and the transaction were obtained and conclusion drawn from them. The regression analysis was also conducted to determine the relationship between the dependent variable and the independent variables in this case, both the p-value and the critical values are used to make inference on the nature of the relationship between the dependent and independent variables.
- Introduction
In the study below, we are interested in use of the anaylysis techniques we learnt in class to explore the data and make conclusions. In this, we will use the data obtained from the bank to write a report on the statistical analysis and make a summary of the bank data. The descriptive statistics try to explain the data of the distribution, and even give a picture representation of the data. The descriptive statistics just explain about the data used. In this study, we will be interested to look at the inferential part which we will be studying the regression analysis and correlation analysis. In this case we will look at the test of hypothesis fro the regression analysis part and make inferential conclusion. In that study, we will take a random sample of size 50 from the bank data and use the sample to make inference about the population.
Analysis
- Descriptive statistic
A descriptive statistics is the value obtained from the sample representative of the population. In this study we are interested in the measures of central tendency, and the measures of dispersion to explain the nature of our sample. The measures of central tendency that we are interested with are; the mean, the median, and the range. The mean of any data is use to make an inference about the sample if the sample does not have the outliers while the median is used to make inference about the sample when the sample contain the outliers.
The table for descriptive statistics
- Confidence interval about the mean values
- Hypothesis testing
In this study we want to test the hypothesis that if the female account holders have different account balances than their male account holders. The null hypothesis for this test is that there is no significant difference for the female account holders as the male account holder. In this case, we use an independent sample t-test to test if there is any significant difference between the male and female account holders. From the two sample t-test hypothesis analysis, we hypotheses that the difference in mean account is zero. The t-value is 11.21744 and the p-value is 0.00000, which is less than the 0.05 level of confidence. This implies that there is a significant difference between the female account holders and the male account holders.
- The correlation and regression
In this case, we use the multiple regression analysis to determine if there is and the relationship between the dependent variable and the independent variables. In this study, we take the transactions as our dependent variable and the age, and balance as our independent variables. We conducted a regression analysis between the independent variable age and the dependent variable transactions. From the regression analysis, the f-statistics is 8.204647 and the p-value for the f-statistic is 0.006181 which is less than 0.05 level of confidence. This implies that there is a significant relationship between the dependent variable transaction and the independent variable age. For the correlation analysis, the R-square is 0.145978, this implies that the regression model can only account for 14.59% of the error of prediction.
- Conclusion and discussion
Bibliography:
Campbell, G, Stonehouse, G & Houston, B 2002, “Business Strategy,” Butterworth-Heinemann, Oxford, UK.
Appedex
Descriptive statistics from excel
Regression analsyis
Confidence interval avalysis
Hypotheis test
