The project is a practical exercise in data analysis in a managerial context. It assumes that the various course materials have been studied and understood by you. For this assignment, the rationale is to apply the techniques of the module to more complex and realistic examples than are dealt with in the lecture sessions. You are required to prepare a report which examines, analyses, models and solves a number of analytical questions concerning real-world data. Further details will be provided during lesson.
The purpose of this project is to allow you to show your ability to apply the theory and approaches developed in the course to formulation and solution of realistic problems amenable to attack by the techniques of Data Analysis. Thus, it facilitates students’ development of particular cognitive skills and competencies, such as teamwork, problem analysis and solution using recognised techniques, applying spread sheet software to present data and implements statistical tests, interpreting solutions and reporting, and is aligned with the module learning outcomes (detailed in the module outline).
Effective written communication is very important in today’s business world. Therefore, take time to discuss with your team on agreed expectation, mode of working/meetings, and analysis/preparation of the report.
In your report, you need to explain:
- the meaning of concepts, notation, etc.;
- all assumptions made regarding data and population parameters;
- the theoretical basis for tests;
- thinking behind your choices of probability distributions as models;
- your interpretation of the solution in the business context, including any conclusions/recommendations you would make to the decision maker.