Part CCovid 19 pandemic has made a colossal impact on most industries around the world. The impact of it on Airline, International Education and Tourism is significantly higher than the other sectors. Kathy Hotel and Tourism is one such business located in rural Victoria with over 1000 employees. Due to the current situation they had to make 200 employees redundant. As part of the redundancy plan, CEO of the Kathy Hotel and Tourism, promised to offer redundancy packages which are based on three factors: age of the employee, duration of employment with the company and their last year's annual salary. To evaluate this salary package, Finance Division of the company collected a sample of 100 employees and for each, the following variables were recorded. No of weeks of redundancy pay (weeks of pay) Age of employee (Age) No of years with the company (Service) Annual salary, in thousands of dollars (Salary)

You are required to gather 50 observations from the given data set (data for part C), following the steps below.

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HI6007 STATISTICS FOR BUSINESS DECISIONS

a. Write down student ID of all the members in your group.Ex: EPS3006, NXP5005 DY30120, ABN 8009 b. Add the last digit of student IDs until it become a single digit.Ex: 6+5+0+9 = 20, 2+0 =2c. If it is 1 - select observations from 1- 50 If it is 2 - select observations from -10 -59 If it is 3 - select observations from 15 -64 If it is 4 - select observations from 20-69 If it is 5 - select observations from 25-74 If it is 6 - select observations from 30-79 If it is 7 - select observations from 35-84 If it is 8 - select observations from 40--89 If it is 9 - select observations from 4594 If it is 0 - select observations from 5099 Note:You will be graded zero for Part C of the assignment unless you satisfied the above sample selection criteria.

1. Perform descriptive statistical analysis and prepare a table with following descriptive measures for all the variables in your data set. Mean, median, mode, variance, standard deviation, skewness, kurtosis, coefficient of variation.(2 marks) 2. Briefly comment on the descriptive statistics in the part (1) and explain the nature of the distribution (whether the variables are normally distributed or not) of those variables.Use graphical representations where necessary.(4 marks)3. Derive suitable graph to represent the relationship between dependent variable and each independent variable in your data set.(3 marks)(Ex: relationship between weeks of pay and age, Weeks of pay and years etc) 4. Based on the data set you extracted, perform a regression analysis and correlation analysis, and answer the questions given below. a. Derive the regression equation and based on that, estimate the expected redundancy pay for 40years old Ho Jin, worked in Kathy Hotel and Tourism for 14 years with the last annual salary of $45,000.(3 marks)b. Interpret the meaning of all the coefficients in the regression equation.(2 marks) c. Interpret the calculated coefficient of determination.(2 marks) d. At 5% significance level, test the overall model significance.(2 marks) e. At 5% significance level, assess the significance of independent variables in the model.(3 marks) f. Based on the correlation coefficients in the correlation output, assess the correlation between explanatory variables and check the possibility of multicollinearity.(2 marks)g. Based on your experience, propose minimum of 2 explanatory variables other than the variables given in the case study and justify your selection

Weeks of pay Age of Employee No of years with the company Annual Salary($000) 14 31 9 48 14 45 23 50 12 31 10 37 8 37 15 34 9 36 13 44 12 35 11 40 15 45 23 40 6 23 2 26 12 43 18 38 11 39 17 38 9 24 7 23 17 37 19 34 8 34 10 28 10 31 8 39 12 37 14 37 11 28 8 34 9 35 12 44 6 28 8 39 7 23 5 37 15 33 10 38 13 43 20 32 11 37 13 30 15 42 17 30 13 41 20 38 13 35 13 39 9 33 10 38 13 42 19 29 11 31 10 37 12 31 7 39 17 37 23 35 6 26 7 39 9 36 11 38 12 34 13 34 17 30 10 32 12 39 16 42 7 21 6 35 7 34 12 35 14 34 12 50 10 27 6 26 11 38 16 38 20 41 23 42 19 44 24 36 14 36 13 35 10 32 7 39 13 37 16 46 13 53 25 48 11 36 12 35 14 44 16 33 3 28 4 40 10 43 9 31 4 29 3 33 7 31 2 43 12 45 15 40 7 44 15 32 8 42 13 42 11 41 15 38 9 32 5 25 10 45 13 36 18 48 19 40 17 52 25 34 13 42 15 33 14 42 19 38 5 27 2 25 11 50 18 36 10 46 18 36 8 28 6 22 15 44 16 32 7 40 6 27 9 37 8 37 11 44 12 35 10 33 9 32 8 41 14 42 5 33 7 37 6 27 4 35 14 39 12 36 12 50 17 30 10 43 15 29 14 49 18 29 12 48 19 36 12 41 17 37 8 39 8 36 12 49 16 28 10 37 10 35 11 37 13 37 15 44 19 33 5 31 6 37 8 42 9 36 11 40 11 32 15 35 15 30 11 46 13 40 6 25 5 33 6 40 12 33 13 40 14 48 9 38 10 37 15 37 19 35 3 24 5 42 11 37 11 33 4 25 4 35 8 26 2 45 13 38 18 42