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COMM5000-Data Literacy for Business
Assignment Consultation
Milestone 1
- 1 -
2
Case Study
– You consult the funds management on their prospective international
portfolio investment strategy.
– The fund management is interested in cross-border services industry
as one of the prospective investment directions.
– Business question is based on real datasets.
– The work will be scaffolded into two milestones M1 (20%) & M2
(20%) and a final project report (60%).
Schedule of engagement
– Week 3, Friday 29th September, from 15:00-
16:00
– Week 7, TBA (Q&A and mentoring)
– Individual Consultations each week
(details are on course Moodle page)
MILESTONE 1: Preliminary Insight Development
– Download and inspect the dataset
– Basic data cleaning and preparation
– Descriptive statistics
– Graphical analysis
– Correlations
– Conclusion
FAQ
Q: Do we need to gather additional data for Milestone 1? Can I find
additional data from website?
A: No, only the two datasets are enough. You will need to gather
additional data for Milestone 2 and Final Report.
Q: How do we deal with the discrepancies in the data?
A: There are discrepancies in OECD database between exports and
mirror imports. This a common case in trade statistics and largely out-
of-scope of this course. However, you can briefly address this issue in
your assignments using data methods we cover.
You can get more information from here:
FAQ
Q: How to make a decision whether we should delete data or imputate?
A: No answer. Please refer to course materials.
Q: Essentially the format of this milestone will look like a word doc
report?
A: Only submit a Word document, no more. No data file, no excel
Q: Do we need to find correlation between the two variables, let’s say,
net balance and gap growth rate, is it okay if we do regression instead
A: Correlation, descriptive – yes. Regression - no
FAQ
Q: Should we specify a real-life funds management firm in the
introduction section?
A: May be, but not required
Q: One of my partner country is USA, but I noticed that the data of all
the years in USA are missing in the income table in excel, which means
I can’t analyze it. In addition, I tried to search the income data of USA
on the Internet, but I couldn’t find it. What should I do?
Q: China's GDP Growth rate is missing, how can we imputate it?
A: No answer. Please refer to course materials.
FAQ
Q: Is it okay if we only look at GDP for milestone 1 and not look at other
economic variables like exchange rates.
A: Analyse all available variables
Q: There are a lot of services from S to SX4 (in Data_service), when we
are trying to analyze and making correlation should we focus on some
services or all? Or should we just correlating for Total services (S),
Export and Import of 3 countries comparing to the economy variables?
A: Analyse the total services only in Milestone 1. For Milestone 2 you
will be required to analyse three services sector.
FAQ
Q: Do all the tables and graphs need to be put under appendix and refer
to when needed?
A: No answer. Please refer to course materials.
Q: Do we meet the requirements of MS 1 if we only cover the first 3
units we have learned as the course progresses?
A: Yes, only the first 3 weeks
FAQ
Q: Is it a strict word count? are 1000 WORDS maximum or minimum?
A: plus minus 10 %
Q: Do I need any reference?
A: Yes, why not.
Q: For table and graph, do we need to insert a table of figures?
A: Optional
FAQ
Q: Do we need to show workings and prove mathematical concepts? Or
our answers/findings enough?
A: Yes, within the required word count.
Q: Do we need to use multiple linear regression models?
A: No, you will do regressions for final report
Q: If we use excel to calculate, then do we include formulas?
A: No Excel formulas. But, some conceptual and theoretical formulas
are good.
FAQ
Q: Can we get a sample report? So that we can refer to the structure
and format
A: No, please refer to milestone task for the structure
Q: Do we need to provide some screenshots to prove that we use excel
for data processing?
A: No
Q: Is it good to implement log transformation of the first phase’s
analysis?
A: No answer. Please refer to course materials.
FAQ
Q: Do we have to look at both import and export value in the services
industry? Or just export would do?
A: No answer. Please refer to course materials.
Q: Can we add subheadings?
A: Yes, optional
Q: When we calculate the growth rate, some industry miss lots of data. I
know that I can replace it with zero or just delete the whole column, but
do we need to specify it on the report or we can just simply skip it?
A: No answer. Please refer to course materials.
FAQ
Q: If skewness is high for a variable, how can we deal with it?
A: No answer. Please refer to course materials.
Q: Based on the Assignment guide, the key jurisdictions of interest are
the US, UK, China, Japan, South Korea, Australia, and New Zealand.
Based on our allocation, we are assigned 3 countries. Do we only
analyse our three countries? Or do we have to consider the others as
well as, for example, South Korea and Japan are not assigned to
anyone but is listed as a key jurisdiction of interest.?
A: Not for Milestone 1. But for Milestone 2 and Final Report you will
analyse at least three countries.
FAQ
Q: How much can the repetition rate (similarity) of the report not
exceed?
A: No similarity. All reports are checked through Turnitin.
Q: The start and end times of the key factor (five variables) are not
consistent in each country, and whether it is necessary to do descriptive
data analysis according to the time of the desired import and export
year analysis (menan, median...). Or do I need all the time I have for the
key factor in each table to calculate?
A: No answer. Please refer to course materials.
FAQ
Q: For the conclusion, what type of recommendation should I
include? On the rubric it says include solutions, but the
assignment guide says including plan of the next analysis.
A: No answer. Please refer to course materials.
Q: For subsequent milestones, can we get back to review and
edit what I have done during the early stages, such as
assumption and analysis logic?
A: Yes, you definitely will.
17
FAQ
Q: The guide says that we need to looks at data from the past 5
years. But both dataset only have data up until 2021
(data_service) and 2022 (data_economy). So, the past five
years period should be counted backward from 2021 or 2022?
A: No answer. Please refer to course materials.
Q: We can actually do many different forms of data analysis,
and when writing a report can we pick and choose only those
findings that are in focus for discussion? Rather than having to
do everything.
A: No answer. Please refer to course materials.
18
FAQ
Q: Could you explain this part in the rubric: "quantitative and
associated qualitative raw data are processed..."? Do we have
to include any qualitative data in the assignment 1?
A: No answer. Please refer to course materials.
Q: While writing the essay for Milestone 1 is it okay to continue
write the report using USD or would you prefer if we converted
our currency into our own perspective reporter country, mine is
china so would it be better for me to convert it to yuan for the
rest of the report?
A: No answer. Please refer to course materials.