rent vs buy
| Rent | Loan repayment |
| 498 | 542 |
| 523 | 473 |
| 453 | 449 |
| 390 | 504 |
| 381 | 483 |
| 434 | 604 |
| 516 | 505 |
| 441 | 512 |
| 456 | 415 |
| 545 | 525 |
| 358 | 563 |
| 497 | 556 |
| 501 | 556 |
| 452 | 495 |
| 523 | 539 |
| 463 | 528 |
| 456 | 504 |
| 474 | 543 |
| 573 | 446 |
| 494 | 466 |
| 448 | 585 |
| 449 | 441 |
| | 467 |
| | 519 |
| | 381 |
| | 433 |
Manufacture
| Production Time |
| 38.4 |
| 39.3 |
| 39 |
| 39.9 |
| 38.7 |
| 46 |
| 46.9 |
| 38.8 |
| 45.5 |
| 40.5 |
| 44.3 |
| 40.6 |
| 41.4 |
| 44.2 |
| 44.6 |
| 44.6 |
| 43.6 |
| 46.9 |
| 43.6 |
| 43.6 |
| 42.6 |
| 38.9 |
| 43.7 |
| 46.4 |
| 36.4 |
| 43.4 |
| 41.6 |
| 43 |
| 36.8 |
| 44.9 |
| 41.6 |
| 44.6 |
| 45 |
| 40.7 |
| 43 |
| 39.7 |
| 40.4 |
| 39.8 |
| 45.5 |
| 45.1 |
| 45.2 |
| 37.8 |
| 46.4 |
| 37.8 |
| 40.2 |
| 37.2 |
| 46.5 |
| 38.3 |
| 40.9 |
| 39.8 |
| 39 |
| 46.3 |
| 41.6 |
| 47.2 |
| 40.3 |
| 35.1 |
| 40.9 |
| 36.8 |
| 39.7 |
| 41.1 |
| 40.9 |
| 43.6 |
| 46.3 |
| 39.9 |
| 41.1 |
| 41.6 |
| 39.7 |
| 41.4 |
| 42 |
| 39.8 |
| 45 |
| 36.6 |
| 38.9 |
| 45.3 |
| 42.2 |
Question One ( 4 Marks) In 2016 the Reserve Bank of Australia reported that 43% of individuals still used cash on a regular basis to make payments. The 2019 Survey of Consumer Payments showed that in a sample of 1500 respondents, 480 indicated they use cash on a regular basis. Conduct a test to determine if there has been a decrease in the proportion of consumers using cash regularly at a 1% level of significance? (Check: p-value = 0) Question Two ( 4 Marks) A manufacturer has rearranged some parts of the factory workspace in order to try and improve productivity. Previously the average time to manufacture each item was 43 minutes. Following the change production times were monitored for a sample of 75 items. The times can be found on the Manufacture worksheet of the THA5.xlsx file. Conduct a test at the 5% level of significance to determine if the average production time has fallen. (Check: p-value = 0.0006) Question Three (7 Marks) There is significant debate in Australia about current house prices, and what this means for both rents and mortgage repayments. Normal expectations are that mortgage repayments should be higher than rents as owners accumulate the capital benefits of owning the home at the end of the repayment period. 23 renters and 27 buyers of similar sized properties in suburban Brisbane were surveyed to determine the average weekly repayment they made over the past year. Data can be found on the Rent v Buy worksheet in the TH5.xlsx file. Conduct a test at the 1% level of significance to determine if the average payment for buyers is higher than that of renters. In conducting the test make sure that any checks are carried out and any appropriate assumptions are made. Data can be found on the Rent v Buy worksheet in THA5.xlsx. (Check: p-value in one of the two tests is 0.892) Question Four (5 Marks) Last year a data analysis lecturer found that 505 of the 1445 possible THA assessments were not submitted. Because of the high non submission rate the lecturer reduced the length of the THA's and provided hints on the to help guide the answer. In the most recent semester, of the 1035 possible assessments, 298 were not submitted. Is there sufficient evidence at the 5% level of significance that the change in assessment process has meant the proportion of assessments not submitted in the current year is less than the previous year, and hence the new assessment processes have increased participation? (Check: p-value = 0.00062) = Question One ( 4 Marks) In 2016 the Reserve Bank of Australia reported that 43% of individuals still used cash on a regular basis to make payments. The 2019 Survey of Consumer Payments showed that in a sample of 1500 respondents, 480 indicated they use cash on a regular basis. Conduct a test to determine if there has been a decrease in the proportion of consumers using cash regularly at a 1% level of significance? (Check: p-value = 0) Question Two ( 4 Marks) A manufacturer has rearranged some parts of the factory workspace in order to try and improve productivity. Previously the average time to manufacture each item was 43 minutes. Following the change production times were monitored for a sample of 75 items. The times can be found on the Manufacture worksheet of the THA5.xlsx file. Conduct a test at the 5% level of significance to determine if the average production time has fallen. (Check: p-value = 0.0006) Question Three (7 Marks) There is significant debate in Australia about current house prices, and what this means for both rents and mortgage repayments. Normal expectations are that mortgage repayments should be higher than rents as owners accumulate the capital benefits of owning the home at the end of the repayment period. 23 renters and 27 buyers of similar sized properties in suburban Brisbane were surveyed to determine the average weekly repayment they made over the past year. Data can be found on the Rent v Buy worksheet in the TH5.xlsx file. Conduct a test at the 1% level of significance to determine if the average payment for buyers is higher than that of renters. In conducting the test make sure that any checks are carried out and any appropriate assumptions are made. Data can be found on the Rent v Buy worksheet in THA5.xlsx. (Check: p-value in one of the two tests is 0.892) Question Four (5 Marks) Last year a data analysis lecturer found that 505 of the 1445 possible THA assessments were not submitted. Because of the high non submission rate the lecturer reduced the length of the THA's and provided hints on the to help guide the answer. In the most recent semester, of the 1035 possible assessments, 298 were not submitted. Is there sufficient evidence at the 5% level of significance that the change in assessment process has meant the proportion of assessments not submitted in the current year is less than the previous year, and hence the new assessment processes have increased participation? (Check: p-value = 0.00062) =
