Instruction for ASM 1 – 0570 – SPR2023

I. Introduction
- Background and the reasons why you choose the topic
- Objectives, scope, and meaning of the study
- Methodology
- Structure of the report
II. Evaluate the nature and process of business and economic data/information from a
range of different published sources
1. Theory:
- Define data, information and knowledge.
- Describe in detail the way of collecting database and transformation process of data into
information and knowledge
2. From published sources and theoretical frameworks of the primary research, show
how data can be turned into information and information into knowledge.
Application:
- First, change the unit of “d2-sales” from VND to VND billions (d2b- sales in billions)
- From the assigned data set, classify firms by sales in billions (Hint: use Vlookup):
- We have the following table to classify firms into five groups:

Table 1: Sales Evaluation

Sales in billions (d2b) Evaluation
0- < 10 Underperforming
10 - <40 Low
40 - <70 Average
70- <100 Above average
>=100 High

Provide a cross-tabulation (column: sales evaluation, row: assigned data) to show the
number of firms in each category (noted that the specific name should be provided)
Then you draw a bar chart to show the number of firms in each category. Identify data,
information, and knowledge in your bar chart.

III. Evaluate data from a variety of sources using different methods of analysis
Interpreting data from a variety of sources using different methods of analysis: descriptive,
exploratory and confirmatory
 1. Descriptive Statistics:
- Theory: What is descriptive statistics?
- Application: Show a table/figure from a reliable business source then describe this
table/figure (Hint: a table calculates mean, median, SD …)
- What are pros and cons of descriptive statistics?
2. Confirmatory Analysis:
- Theory: What is confirmatory analysis?
- Application: Show a correlation (with p-value) between two variables from a reliable
business source then describe the relationship between these two variables.
- What are pros and cons of confirmatory approach?
3. Exploratory Analysis:
- Theory: What is exploratory analysis?
- Application: From a scatter plot, please state a hypothesis for the relationship between
two variables in the population.
- What are pros and cons of exploratory approach?
4. Demonstrating the pros and cons of each method based on above examples.
IV. Application for dataset
1. Inferential statistics
- State one research question in which your dataset is a sample (must be relevant to
variables in the dataset)
- Identify the population for this research question.
- What is the sampling strategy for your dataset?
2. Descriptive statistics: for your assigned data
2.1. Application for quantitative data
- Display key statistics of all firms including mean, mode, median, variance, standard
deviation, range, count, coefficient of variance, 40% and 80% Percentiles, 3rd
Quartiles for days of inventory (d16) by a table
- Comment under the descriptive table about the meaning of each key statistics and
elaborate the results
2.2. Application for qualitative data
 - Describe one categorical (qualitative) variable by a table/figure: 1 specific
region/locality/sector (a2/a3/a4a) (noted that the specific name should be provided)
o If the assigned data is a2 or a3 then describe a4a. If the assigned data is a4a,
then describe a2 and a3
o Provide frequency distribution table (including percent distribution)
o Finally, interpret the business meaning for each above table/figure, what can
you explore from those results?
3. Measuring association
- Show the relationship between two variables by a scatter plot with a trend line.
Calculate the correlation between these two variables in a correlation table. Draw a
scatter plots to show the relationship between d2b-sales in billion and f2- hours of
operating per week
- Explain the business meaning of this relationship. Do they have a positive or negative
relation?
4. Evaluate the differences in above applications between descriptive statistics,
inferential statistics and measuring association.
5. By using examples from your dataset, critically evaluate the differences in
application between methods of descriptive, exploratory and confirmatory analysis
V. Conclusion:
- Summarize all key points
References list