Durham Industries Expansion: Statistical Analysis Essay

Exclusively available on Available only on IvyPanda® Made by Human No AI

Economic prospect and growth potential of Durham Industries Inc.

The challenges of a firm’s business expansion influence its growth potential. Thus, Durham Industries must analyze the business potentials of a geographical location before expansion. As a result, we will analyze sample data from Oceana and Eastasia. Thus, the statistical analysis will facilitate the recommendations for Durham’s business expansion.

Data analysis

Oceana’s average income is $1000 per household, with a variation of $300. As a result, Oceana’s disposable income has a higher variation compared to Eastasia. Thus, the gap between rich and poor is higher in Oceana than in Eastasia. The frequency distribution table revealed that Eastasia households earned between $831and $883(max). Consequently, the histogram showed that household disposable income is skewed.

The analysis revealed that the average disposable income (mean) per household was $894.96, with a variation (standard deviation) of 88.5912. The coefficient of variance (0.098989) showed that mean household income depends on the unit change in disposable income. Consequently, analysis to test the significant level of Eastasia’s disposable income showed compelling evidence to support the hypothesis (Ho).

The research findings revealed that poverty levels in Oceana were 0.1495. However, the poverty level in Eastasia was 0.0162. Thus, the GDP of Eastasia is stable compared to Oceana. The confidence interval describes the difference between two means. Thus, we express a 96% confidence interval of the sample population. The p-value of 0.05 describes the probable result if the experiment is repeated five times. However, t value is a statistical technique for hypothesis testing. The one-tail t model was used in the analysis

Recommendations

From the analysis, I recommend that business expansion be carried out in Eastasia. The research finding showed that the gap between rich and poor is less in Eastasia compared to Oceana.

More related papers Related Essay Examples
Cite This paper
You're welcome to use this sample in your assignment. Be sure to cite it correctly

Reference

IvyPanda. (2020, May 2). Durham Industries Expansion: Statistical Analysis. https://ivypanda.com/essays/durham-industries-expansion-statistical-analysis/

Work Cited

"Durham Industries Expansion: Statistical Analysis." IvyPanda, 2 May 2020, ivypanda.com/essays/durham-industries-expansion-statistical-analysis/.

References

IvyPanda. (2020) 'Durham Industries Expansion: Statistical Analysis'. 2 May.

References

IvyPanda. 2020. "Durham Industries Expansion: Statistical Analysis." May 2, 2020. https://ivypanda.com/essays/durham-industries-expansion-statistical-analysis/.

1. IvyPanda. "Durham Industries Expansion: Statistical Analysis." May 2, 2020. https://ivypanda.com/essays/durham-industries-expansion-statistical-analysis/.


Bibliography


IvyPanda. "Durham Industries Expansion: Statistical Analysis." May 2, 2020. https://ivypanda.com/essays/durham-industries-expansion-statistical-analysis/.

If, for any reason, you believe that this content should not be published on our website, please request its removal.
Updated:
This academic paper example has been carefully picked, checked and refined by our editorial team.
No AI was involved: only quilified experts contributed.
You are free to use it for the following purposes:
  • To find inspiration for your paper and overcome writer’s block
  • As a source of information (ensure proper referencing)
  • As a template for you assignment
Privacy Settings

IvyPanda uses cookies and similar technologies to enhance your experience, enabling functionalities such as:

  • Basic site functions
  • Ensuring secure, safe transactions
  • Secure account login
  • Remembering account, browser, and regional preferences
  • Remembering privacy and security settings
  • Analyzing site traffic and usage
  • Personalized search, content, and recommendations
  • Displaying relevant, targeted ads on and off IvyPanda

Please refer to IvyPanda's Cookies Policy and Privacy Policy for detailed information.

Required Cookies & Technologies
Always active

Certain technologies we use are essential for critical functions such as security and site integrity, account authentication, security and privacy preferences, internal site usage and maintenance data, and ensuring the site operates correctly for browsing and transactions.

Site Customization

Cookies and similar technologies are used to enhance your experience by:

  • Remembering general and regional preferences
  • Personalizing content, search, recommendations, and offers

Some functions, such as personalized recommendations, account preferences, or localization, may not work correctly without these technologies. For more details, please refer to IvyPanda's Cookies Policy.

Personalized Advertising

To enable personalized advertising (such as interest-based ads), we may share your data with our marketing and advertising partners using cookies and other technologies. These partners may have their own information collected about you. Turning off the personalized advertising setting won't stop you from seeing IvyPanda ads, but it may make the ads you see less relevant or more repetitive.

Personalized advertising may be considered a "sale" or "sharing" of the information under California and other state privacy laws, and you may have the right to opt out. Turning off personalized advertising allows you to exercise your right to opt out. Learn more in IvyPanda's Cookies Policy and Privacy Policy.

1 / 1