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Statistics for Business Decisions

Table of Contents

Question 3.

Analyze the voting intention of Australian voters for the upcoming elections.

Investigation of reasons for not Big 4 banks (NAB, ANZ, CBA, and WBC) passing on the full interest cuts introduced by reserve bank of Australia to its borrowers.

Understand the demographic profile of the community living in Hume city council, Melbourne.

Examine opinions from adults on legalizing marijuana use in Australia.

Estimation of the average age of children in city of Melbourne.


Analyze the Voting Intention of Australian Voters for The Upcoming Elections.

  1. The process for nominating Australian members and senators is substantially more complex than the way their American counterparts are chosen. The members of the United States and the Senators are all elected in the same way, as the system is sometimes called, but which I prefer to name, the method of electoral plurality. The voter shall cast one vote for the candidate he or she would rather be representing the electoral district, regardless of the state or the district, and the candidate receiving most votes shall be the winner. Probability data collection can be an effective way for the data collection.
  2. Data can be collected through focused group research. Young Australians in Australia have been a key subject of research. They tend to have less electoral experience and are more familiar with the vote as they come before the referendum.
  3. Data can be collected through a survey. The findings of the 2019 poll show that Australians do not yet like the political climate or who they are voting for. There appeared to be a steady fall in the number of respondents who indicated that they were still voting for the same party and less than one in three adopted the voting card of a single group.

Investigation of Reasons for Not Big 4 Banks (NAB, ANZ, CBA, and WBC) Passing on The Full Interest Cuts Introduced by Reserve Bank of Australia to Its Borrowers.

  1. Data can be collected through banks by survey method. Because in only in this way it would be easy to get the opinion of everyone. Otherwise data collected cannot be authentic.
  2. Use of probability data collection can make the data collection easy for this type. As it is easy to directly find the probability of the opinion of workers and non-workers.
  3. Use of grounded theory for data collection can be an affected way. Due to this it would be easy for the researcher to gather data in easy and reliable way.

Understand the Demographic Profile of The Community Living in Hume City Council, Melbourne

  1. Data can be collected with the help of survey from population forecast. People's projections offer a wealth of knowledge on the demographic and housing development projected to take place in our area, in neighborhood associations, residents, companies, students and the general public. They have statistics on the number of people, households and families in the area in the coming years. The Council and neighborhood organizations use this knowledge to prepare for our future and ensure that the city's aspirations are addressed by the implementation of public services.
  2. The population of an area is measured in a variety of different ways, all of which provide an insight into the scale of the city and its growth rate in various times. Both are important and form the base for a variety of features gathered at the census. The estimated resident population, which is an approximation of those absent at the Census and those who were abroad at the Census time, is the most detailed count, however. It typically passes all censuses, and is also revised each year after the census with provisional projections for up to 5 years.
  3. Data can be collected by using monkey survey method. It would be easy to collect the data through this method.

Examine Opinions from Adults on Legalizing Marijuana Use in Australia.

  1. National Substance Use and Health Survey (NSDUH) will gather data. Legal use of marijuana has been used as the consequence vector whether applied for the last 30 days. Age was calculated as the participants' own chronological age, year was used for the study and cohort as a subtracted age was projected. The actual concentrations of marijuana usage have been decomposed into an individual age, length and cohort influence using the HAPC model.
  2. Data can be collected through from a gender-balanced, ethnically diverse sample. Participants can be interviewed.
  3. Data can be collected through survey method from hospitals and the grounded theory can be applied.

Estimation of The Average Age of Children in City of Melbourne.

  1. Staff numbers projections – considering the smaller supplementary statistics from the ABS Population Count and recent data from the 2014 Central Melbourne Travel Survey, we updated the manner in which we measure the amount of employees per week in the region on an average basis. The employees' figures were historically based on Hint job statistics largely under the premise that all employees in full-time moved under average weekdays to work. But, according to the 2001, 2006 and 2011 ABS population census and the 2011 Central Melbourne Travel Polls, only about 95.5% of full-time metropolitan workers attended the census night or in the process of polls.
  2. Alternatively a focus group using veterans from the financial sector could allow for an outstanding data collection process (this is also why TV media use an expert panel to address those issues).
  3. For such a dilemma, interviews with specialists on the ground will be the perfect way to gather data. In comparison, documentation and reports on the same subject may be used to complement this.

References for Statistics for Business Decisions 

City, H., 2016. Population and dwellings, Hume City: s.n.

Donaldson, E., 2020. NAB, ANZ and Westpac follow CBA in reducing home loans after RBA emergency rate cut, s.l.: Canstar.

Melbourne, C. o., 2016. Daily Population Estimates and Forecasts , City of Melbourne : s.n.

Rick Kosterman, J. A. B. K. G. T. M. J. N. E. K. G. H. a. J. D. H., 2016. Marijuana Legalization and Parents’ Attitudes, Use, and Parenting in Washington State. J Adolesc Health, 59(4), pp. 450-456.

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