Statistics for Business and Economics

In
this project, you will apply the tools learned in EC-300 to a financial
portfolio of your selection to determine whether it would be a good
purchase.  These need to be done on PC’s;
MAC’s do not have sufficient capabilities for performing advanced statistical
testing.  This is a good learning lesson
for students that they should become accustomed to; the ‘real world’ uses PC’s,
not MAC’s.

In
this project, you will make the following calculations:

• Mean
• Variance
• Standard Deviation
• Z-Score and Associated Probability
• Confidence Interval
• One Sample Hypothesis Test
• Two Sample Hypothesis Test
• ANOVA
• Comparison of Two Population Variances
• Linear Regression

Scenario

            Suppose
that you work for a consultancy group that provides advice on the stock
market.  A client has asked you to
provide an analysis of a particular stock for his/her company (you are actually
going to pick the stock, see below). 
What you will do is amass data from a financial website, utilize the
various statistical techniques from the course, and author a ‘financial report’
no shorter than seven pages but no longer than twelve (double spaced, Times New
Roman, size 12 font) that contains the statistical analysis you have performed,
why you would perform that specific test, and your recommendation for the
client.  In particular, the report should
discuss:

• Why you selected the particular company
• Financial and non-financial characteristics of the company
• How you calculated the various statistics and what they are
• The significance of the statistics (both numerically and
  what relevance the test has)
• Conclusions based on research – Is the company a good one to
  purchase

 FAQ’s/Concerns

1. Do I have to submit my excel
   work with the paper? No.
2. Are there any successful
   examples of this project? Yes, look on blackboard.
3. Do you want me to describe what
   I did step by step? Absolutely not. You are to discuss the relevance and
   significance of each statistical test and how it applies to your
   particular scenario.  Then, you are
   to analyze what that test and its results say about your particular
   company.
4. What do you mean by
   significance of statistical tests? 
   You need to discuss under what conditions and/or scenarios you
   might think to apply that particular test. In other words, discuss why is
   it relevant to the world.  Simply
   stating “I decided to run a confidence interval…” is not acceptable;
   that does not actually happen. 
   Instead, you would decide to run, say, a confidence interval
   because you “wanted to create a range of value likely to contain the
   population mean…”.  Get into the
   liberal arts aspects of statistics where you become aware of when and why
   a specific tool should be used as
   well as what its limitations are.

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