NATIONAL ECONOMICS UNIVERSITY

INTERNATIONAL SCHOOL OF MANAGEMENT AND ECONOMICS

HIGHER NATIONALS
BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS (RQF)

Assignment Brief

Unit Code, Number and R/508/0570 – Unit 42: Statistics for Management
Title
Semester and Academic Year Semester 1 | Academic year 2022 - 2023
Unit Assessor(s) Nguyen Manh The | Nguyen Minh Thu | Nguyen
Huyen Trang | Nguyen Thi Lien

Assignment Title SFM A1:

Issue Date September 5th, 2022

Submission Date 10:00 AM, November 27, 2022

Student name Nguyen Le Minh Anh

NEU Student ID 10200539
Student declaration 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.

Student name / Signature Minh Anh Date:

Submission Format

● This is an individual assignment. 

● The submission format is in the form of an E-report. Please refer to the “Turnitin
Submission Rules” that was posted on Moodle.
● The file on Turnitin must be in Word format and include the first page of this cover
sheet. The first page of the cover sheet should be in the picture format in order to
ensure the accepted similarity of Turnitin.
● The similarity allowed is up to 25% after excluding references.
● Name of the file includes Student ID_Unit name_Assessment no. (E.g.
“1010001_MPP_A1.1”) 
● Ensure that authenticity declaration has been signed electronically.
● Plagiarism is unacceptable. Students must cite all sources and input the information by
paraphrasing, summarising or using direct quotes. A Referral Grade is given when
Plagiarism is identified in your work. There are no exceptions.
● Your evidence/findings must be cited using Harvard Referencing Style. Please refer to
the Reference guide posted on Moodle. The Reference page is compulsory to upload on
Turnitin. 
● This assignment should be written in a concise, formal business style using Arial 11 or
Times New Roman 13 font size and 1.5 spacing. 
● The word limit is 3,500 words (+/- 10%). 
● You MUST complete and submit a softcopy of your work on the due dates stated on the
Assignment brief. All late work is not allowed to submit. This rule is not waived under
any circumstances. 
Read ALL Instructions on this Page and review the Pass, Merit and Distinction criteria
carefully. To pass the assignment, you must achieve ALL the Pass Criteria outlined in the
marking sheet. To achieve a Merit, you must achieve ALL the Merit criteria (and therefore
the Pass criteria). To achieve a Distinction, you must achieve ALL the Distinction criteria
(and therefore the Pass and Merit criteria).

Unit Learning Outcomes

LO1: Evaluate business and economic data/information obtained from published

sources
LO2: Analyse and evaluate raw business data using a number of statistical methods
LO4: Communicate findings using appropriate charts and tables.

Transferable skills and competencies developed

Vocational scenario

Data Description and Allocation:

The excel file attached (named “House Price Data Project”) contains data about property
prices and some characteristics of the properties. The data contain a lot of observations
from which you will be assigned 500 observations as the following scheme:
The first student in the list use the data from obs 1 to 500
The second student in the list use the data from obs 100 to 600
The third student in the list use the data from obs 200 to 700
And so forth….
Please look at the excel list of students to get your data allocation.
Meaning of variables are as follows:
------------------------------------------------------------------------------------------------------------
Type: The type of property
Price: The price of property
Bedrooms: Number of bedrooms
Bathrooms: Number of bathrooms
Area: The Area of the property by m2
Furnished: Is the property Furnished or not
Level: In what floor the property is?
------------------------------------------------------------------------------------------------------------
The main objective of this project is to explore the key variables in the data set and
evaluate the relationship between price of houses and other characteristics. The
requirements below are the guidelines that you need to complete. You can do more
analysis to explore the data if you find something meaningful.

Assignment activity and guidance

Part A: Evaluate business and economic data obtained from published sources.
● Suggest the method of analysing this data set, focusing on descriptive and
inferential statistics (list all possible analysis you can do).
● Do your own research to find the information to write the review of the following
issues in statistics:
● Data sources in Business and Economics.
● Data collection method in Business and Economics
● Critically evaluate the pros and cons of different kinds of data sources in Business
and Economics
● Methods of data analysis: Descriptive statistics and inferential statistics. Critically
evaluate the difference between the two methods and their applications in different
contexts.

Part B: Communicate findings using appropriate charts / tables.

● Cleaning the data by handling outliers and missing data if possible.
● Recode variable “Level” into 2 groups: group 1 (Ground, 1st and 2nd levels) and
group 2 (the remaining levels. Name this variable as “Level_group”, use it for the
following analysis.
● Using summary statistics, tables and charts to explore each variable and make
comment, (hints: Frequency tables and pie/bar chart for qualitative variables,
summary statistics, histogram for quantitative variables).
● Using appropriate calculation, chart and correlation coefficient to explore the
dependence of price on the remaining variables.
● Justify the rationale for choosing the methods of communication.
● Critically evaluate the use of different types of charts and tables for communicating
given variables.

Part C: Analyse and evaluate business data using a number of statistical methods.
 ● Using t-test to compare price of houses which are furnished and unfurnished;
group 1 and group 2 (of the variable “Level_group”).
● Assuming that the price depends on Bedrooms, Bathrooms, Area, Furnished
(dummy) and Level_group (dummy). Estimate the regression model to consider this
dependence and explain the meaning of each coefficient; Test for significance of
each independent variable. Can we narrow down the model?
● Evaluate the use of summary statistics done in Part B and the technique of
hypothesis testing in this part.
● Critically evaluate the differences between the use of Regression Analysis to explore
the relationship amongst variables and correlation coefficients calculated in Part B.

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.
1. ANDERSON, D. et al (2019). Statistics for Business & Economics. 3rd Ed. Cengage Learning.
2. NEWBOLD, P. et al (2019) Statistics for Business and Economics. Global edition. 9th Ed. Harlow:
Pearson.
3. RENDER, B. (2017) Quantitative Analysis for Management. 13th Ed. Harlow: Pearson.
Supplementary Resources: Articles provided on Moodle

Learning Outcomes and Assessment Criteria

Pass Merit Distinction

LO1: Evaluate business and economic D1 Critically evaluate the

data/information obtained from published differences in application
sources between methods of
descriptive, exploratory and
P1 Evaluate the nature M1 Critically evaluate the confirmatory analysis of
and process of business methods of analysis used business and economic data.
and economic to present business and
data/information from economic
a range of different data/information from a
published sources. range of different
published sources.
P2 Evaluate data from a
variety of sources, using
different methods of
analysis.

LO2: Analyse and evaluate raw business data

using a number of statistical methods

P3 Analyse and M2 Evaluate the

evaluate qualitative and differences in application
quantitative raw between descriptive
business data from a statistics, inferential
range of examples, statistics and measuring
using appropriate association.
statistical methods.

D3 Justify the rationale for

LO4: Communicate findings using appropriate
charts and tables. choosing the method of
communication
P5 Assess different M4 Evaluate the use of
types of visual different types of charts
representations for and tables for effectively
communicating findings communicating findings
effectively.
for given variables.

P6 Using appropriate
charts and tables,
communicate findings
for given variables
effectively.