In Quantitative Method for
Business, I have learnt quite a number of new things which I was not being
exposed to in lower level. In the first few chapters, everything was almost the
same as what I have studied in college but the syllabus is getting tougher and
complicated when it comes to almost the end of the semester.

As
a part of assessments for this subject, we are required to form a group which
consists of 4 members for group assignment purpose. The question of the
assignment was to determine the relationship between selling price of houses
and its size (square feet). We have chosen double storey houses which are located
at Bandar Kinrara in Puchong, Selangor area. Firstly, we collected a sample of 60
selling prices of properties, square feet and date of released from websites
and rearrange them accordingly.

Next, after getting the required information from calculation by using Microsoft Excel, we started to begin our assignment. I have to apply statistical procedures which I have learnt in lecture classes by calculating the mean, median, mode, interquartile range, variance and standard deviation of both selling prices and square feet to describe the data effectively. Coefficient of variation (CV) is a new formula I have learnt to measure the relative variation for distributions with different means. From the lectures and tutorials classes, I have realized that statistical method is more effective in presenting data than other methods because it reveals all the information in a data.

For
the next part, we have been told to display the output of the two variables and
it was the tougher part of the assignment as well. Simple linear regression and
correlation analysis is a new topic to me as I have never soak up such concept
before. It is an interesting topic though as we can investigate the
relationship between two variables quite accurately. I have to key in all the
data to obtain the regression equation. After that, I interpreted the
Y-intercept (price) and the slope (square feet) by providing relevant
explanation. From the calculation, coefficient of correlation, r can be
obtained and it is the one which measures the strength of relationship between
prices and square feet.

Lastly,
introduction to probability has taught me how to predict outcome of events
using different formulae based on situational factors such as conditional
probability, mutually exclusive events and many more. For instance, I have applied
addition rule for two events in my assignment as well to calculate the
probability for both events to occur. I personally feel that it is quite fun
when you can roughly presume the probability for a certain events that you
would like to know to occur. To sum up, this subject has definitely equipped me
with lots of mathematical skills which is useful for me in my later studies.

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