BUS105 Tutor-Marked Assignment

This assignment is worth 20% of the final mark for BUS105 Statistics.

Question 1

Financial literacy is widely recognised as a key factor in reducing financial vulnerability and long-term economic inequality. In Singapore, differences in access to financial education may contribute to unequal financial preparedness among working adults.

A Singapore-based human resource consultancy conducted a study to examine financial literacy among full-time employees. Participants completed a standardised financial literacy assessment covering topics such as budgeting, interest rates, inflation, and basic investment concepts. Each participant received a financial literacy score ranging from 0 to 100 (whole numbers only), where higher scores indicate stronger financial knowledge.

For analysis, employees were classified into two groups:

• Training: employees whose employers provide structured workplace financial education programmes, and
• No Training: employees whose employers do not provide such programmes.

The responses are provided in the Excel file Financial Literacy Score.xlsx.

The consultancy would like to use this dataset to generate preliminary insights on whether access to workplace financial education may be associated with differences in financial preparedness among employees in Singapore. Suppose you are a data analyst intern working at this consultancy. Prepare the following deliverables for the team manager:

(a) Please limit your answer (including tables and graphs) to one (1) page.

(i) Identify the main variable of interest in this study. Classify it as either qualitative or quantitative. If it is quantitative, further classify it as either continuous or discrete. Provide justifications for your answers.

(ii) Report the relevant descriptive statistics in one (1) table to compare financial literacy scores between the two groups. Create two (2) histograms, one for each group, to illustrate the distribution of financial literacy scores. You are not required to describe or comment on the outputs yet.

(25 marks)

(b) Based on the descriptive outputs from part (a), develop a report that addresses the following:

– Describe and interpret the table and charts

– Draw a preliminary conclusion to support managerial insights

Your report should be concise and well-structured and should not exceed 500 words. Please indicate the word count at the end of your answer.

(45 marks)

(c) According to a recognised expert, employees’ financial literacy scores in an ideal society are distributed with a mean of 65 and a standard deviation of 20. Using this benchmark, calculate an appropriate probability and discuss whether the financial literacy of the Singapore employee population is higher than that of the benchmark society. Justify the use of your analysis method.

You may treat the combined responses from both groups as a representative sample of Singapore employees. Please limit your answer (including tables and graphs, if any) to one (1) page.

(30 marks)

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