Student Name/ID

Nguyen Hoang Thai- F13_259

Number:

Unit Number and Title: Unit 31: Statistics for Management

Academic Year: Semester 1, Academic Year 2021 - 2022

Unit Assessor: Dr Pham Manh Hung and Dr Tran Minh Hoang

Assignment Title: SfM1: Data Analysis and Data Insight (1 of 3)

Issue Date: 16th September 2021

Submission Date: To be announced by Office

Internal Verifier Name: Dr Tran Minh Hoang (IV) & Dr Doti Chee (Lead IV)

Date: 5th August 2021

Submission Format:

This submission is in the form of an individual written report. This should be written in a concise, formal
business style using single spacing and font size 12. You are required to make use of headings,
paragraphs and subsections as appropriate and all work must be supported with research and referenced
using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing
system. The recommended word limit is 1,500–2,000 words, although you will not be penalised for
exceeding the total word limit.

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.

Assignment Brief and Guidance:

Scenario and activity:

LG Electronics, Inc. is a global innovator in technology and consumer electronics with a presence in almost
every country and an international workforce of more than 75,000. LG’s five companies – Home Appliance
& Air Solution, Home Entertainment, Mobile Communications, Vehicle component Solutions and Business
Solutions – combined for global sales of over USD 56 billion in 2020. LG is a leading manufacturer of
consumer and commercial products ranging from TVs, home appliances, air solutions, mobile devices,
monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG
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ThinQ brands are familiar names world over.

LG Electronics Vietnam Hai Phong (LGEVH) is a company with 100% capital from Korea. In September
2013, the company was established with an investment capital of USD 1.5 billion. It is located at Lot CN2,
Trang Due Industrial Park, Le Loi Commune, An Duong District, Hai Phong City, Vietnam. LG Electronics
Vietnam Hai Phong’s products such as vacuum cleaners, washing machines, mobile phones and in-car
audio-visual equipment are exported to 45 markets around the world.
Part I

You are working as an Assistant Business Data Analyst for LG Electronics Vietnam, and have been tasked
with providing a report on the value and importance of statistical management.

The report should cover the following:

1. An introduction to statistics, e.g. what they are, what are the key characteristics and what are the
benefits of statistical data for meeting business objectives of LG Electronics.
2. The sources and types of data and information businesses can access.
3. The value of employing statistical methods when meeting business objectives and achieving
competitive advantage.
4. An analysis of deductive and inductive approaches and what the implications are for business
intelligence.
5. Provide examples of analysis of given sample sets of data that could be used by LG Electronics.
6. Evaluate the suitability of one type of data analysis vs another.

Part II

In your position as an Assistant Business Data Analyst for LG Electronics your second task is producing
analysis of raw data and communicating findings appropriately.

It is assumed that the following figures show the number of defective components supplied each day by
one of LG Electronics’s factories in Vietnam.

Number of defects 0 1 2 3 4 5
Number of days 8 22 33 29 15 3

In response to Operations Manager’s query, you have been asked to explain whether this data follow a
binomial distribution.

You are also given the following data for revenues and selling expenses over the past ten years.
Year Revenues Selling expenses
In millions of In millions of
Korean won Korean won
2020 63,262,046 7,784,118
2019 62,306,175 7,621,228
2018 61,341,664 7,431,183
2017 61,396,284 7,125,664
2016 55,367,033 6,689,714
2015 56,509,008 6,607,913
2014 59,040,767 6,973,017
2013 56,772,302 6,916,738
2012 50,959,978 6,785,477
2011 54,256,585 7,158,784

It is believed that there is a high degree of correlation between revenues and selling expenses. You have

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been asked by the Finance Manager to prepare a budget for selling expenses if revenues are 65,000,000
million of Korean won in 2021. You have also been asked to confirm that the degree of correlation
between revenues and selling expenses is high by calculating the correlation coefficient.

Therefore, the report should also cover the following:

7. Evaluate the differences between descriptive and inferential data.

8. Using the set of given data in relation to product defects you are to calculate a range of descriptive and
inferential statistics. Applying and justifying the use of different methods, e.g. T-Test, ANOVA testing,
chi–square testing. You are also to assess whether there is any correlation between revenues and
selling expenses, and to calculate an equation to determine the expected level of selling expenses for
the given revenues.

Learning Outcomes and Assessment Criteria:

Learning Outcome Pass Merit Distinction

LO1 Evaluate business P1 Evaluate the nature
and economic and process of business
data/information and economic
obtained from published data/information from a
sources range of different
published sources.
P2 Evaluate data from a
variety of sources using
different methods of
analysis.
M1 Critically evaluate LO1 & 2
the methods of analysis
used to present business D1 Critically evaluate the
and economic differences in application
data/information from a between methods of
range of different descriptive, exploratory
published sources. and confirmatory
analysis of business and
economic data.

LO2 Analyse and P3 Analyse and evaluate M2 Evaluate the

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