Quantitative and Qualitaitve Analysis

Project description
FINAL PROJECT
Note: The final project represents your individual work! Please address your questions to the instructor.
Goals
Use descriptive and inferential statistics to answer questions about a dataset of interest.
Use Excel and R to effectively carry out appropriate statistical data analyses. You can choose in which case to use one or the other
Relate your analysis back to a real-world situation and question(s) of interest.
Effectively communicate your analysis to others through a written report.

Directions and deliverables
A complete project consists of:
o All working files produced during your analysis (e.g., your Excel and/or R output; your dataset if you modified it in any way).
o A written report that does not exceed 12 pages, including all references and figures. The font size should be no smaller than 11pt.

Evaluation criteria
Technical soundness (25%)
o Are the analyses appropriate, given the nature of the data, and the questions of interest?
Completeness (25%)
o Is there anything else obvious that could have / should have been done or answered?
Clarity / explanation of the analysis (25%)
o How well are the steps in the analysis documented and explained? Remember that I should be able to reproduce your work!
Clarity / explanation of the real-world meaning and implications of the analysis (25%)
o Can the reader / client apply the information provided to him or her?

Topic 1:
European consumer confidence
You work for a large consulting company out of its Nicosia office. You have been assigned the task of creating a summary report on the most recent Eurostat European

Consumer Confidence Indicator (CCI). In particular, an important American client has requested the report, after having read a brief summary report produced by the Pew

Research Center in the U.S. (attached). The client needs more detailed information on the European CCI, and has asked for a summary report that focuses on consumer

confidence in Cyprus and Greece, in comparison to that in the UK and Europe overall. Your client is in retail, and although he has not disclosed much information about

his operations, you know that he has little experience thus far in European markets.

Your supervisor has provided you with the attached Excel file (as well as CSV file), containing the monthly Consumer Confidence Indicator (CONS in the dataset) over

the last 10 years (from January 2004 to November 2014) for five regions: Europe (EU), the Euro area (EA), Greece (EL), Cyprus (CY) and the United Kingdom (UK). While

more detail can be found below in the additional documentation, CONS quantifies the level of confidence consumers have in the economy and ranges from -100 to 100.

Your analysis and report should cover the following:

1. Overview of the data set (3 pages)
Purpose of the study (half page)
Data collection method (half page)
Variable(s) in the dataset and measurement scales (1 page)

2. Descriptive statistics (5 pages)
Over all quarters during the past 10 years, how confident are consumers in each of the five regions? Be sure to characterize both the central tendency and the

dispersion in the CONS variable. (1 page)
Using a graphical method, compare the trends over time in consumer confidence across the five regions.(4 pages)

3. Inferential statistics (4 pages)
Provide a 99% confidence interval for the mean consumer confidence index in Cyprus, for the years 2004-2014. (1 page)
Test the following hypothesis at a significance level of 0.01: The mean level of consumer confidence in Cyprus over the past 10 years is less than that of the EU as a

whole. Assume that the sample mean consumer confidence in the EU is equal to the true population mean. (1 page)
Test the following hypothesis at a significance level of 0.05: How often is the consumer confidence level in Cyprus at least as positive as in Greece? The variable

CY.EL.compare is 1 when this is true, and 0 when this statement is false. Using this information, conduct a test of population proportion, where the null hypothesis is

that at least 75% of the time, consumer confidence in Cyprus is as least as positive as in Greece. (2 pages)

3 Additional documents that you may find helpful:
Study Metadata: describes how the study is administered in each EU country and which organization(s) carry out data collection
http://ec.europa.eu/economy_finance/db_indicators/surveys/documents/metadata2/metadata_all_cons_en.pdf

Questionnaires: details the questions posed to consumers
http://ec.europa.eu/economy_finance/db_indicators/surveys/questionnaires/index_en.htm

Construction of the Consumer Confidence Index (see page 7)
http://ec.europa.eu/economy_finance/publications/publication14353_en.pdf

The files needed for this project are the following:
Project [Final_Project_Revised2_2_2.doc]
Files for Topic 1
Background [Article : Consumer sentiment in U.S. and Europe diverging, along with their economic outlooks Pew Research Center.pdf]
Dataset [ConsumerConf_EE_CY.xlsx]
Dataset [ECCI.csv]
All material and commands for this course [Material Quantitative Qualitative Analysis2.pdf]
R commands [NIC_R_Commands (1).pdf]

In our analysis, we need to integrate both
1) Excel and
2)R, an open-source software for statistical computing. Please download R at the R project page. R is available for both Windows and MacOS at http://www.r-project.org/
I have added all the commands that we have learned for both excel and R in a document named NIC_R_Commands (1).pdf. You can find additional commands in the document

named Material Quantitative Qualitative Analysis2.pdf
Please only use the commands/charts in these documents and not your own commands. Try and use as many commands as possible for the analysis required.
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Added on 27.01.2015 10:00
1) TO FIND THE ATTACHED FILES PLEASE DOWNLOAD FROM THE FOLLOWING LINK:
http://www.sendspace.com/filegroup/K6D1IEK542hT9Na9Zsut%2BbbF0HZL2ZrMUTa6c56QjVgYSZb5bBMmnA
Please confirm their receipt!!

2) In addition please add the required charts within the essay

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