analysis of economic and social data

analysis of economic and social data Order Description Guidelines 1. Please use word processing software when it is convenient to do so (i.e., when there is limited number of mathematical expressions). You can show your calculations by hand. 3. If you have consulted any printed materiel such as books, articles, or Internet sites to help with your answers, please indicate the references. 6. When you must produce a table and a graph, please include a title to the table and graph; furthermore, always include all axes and series labels with a chart. 7. Print all charts on separate sheets and return them with your assignment. Use the full sheet for displaying your graph. The following site contains videos on how to find and download data from CANSIM. https://www.discoverstatcan.ca/using_cansim.html 1. Go explore CANSIM and find the data for the survey of household spending for 2013: a. Construct a table that includes the average expenditure per household (as it is available in CANSIM) for each of the 10 provinces for the following goods: Total Expenditures, Meat, Fish and seafood, and Alcoholic beverages. b. Construct a column graph using Excel that groups the columns by province (There is an example of this type of column graph here: https://www.excel-easy.com/dataanalysis/charts.html). Each column should represent a percent share of total expenditure and each product’s column should be grouped by province (in the example from the above link, the columns are grouped by month – you must do the same but in this case, the columns are grouped by province) c. Which province has the highest share of average household expenditures for alcoholic beverages? For fish and seafood? For Meat? In an MS Word document include your answers to these questions in c). 2. We spent some time in class discussing seasonal adjustment. The aim of this exercise is to enhance your understanding of seasonal adjustment. a. As a first step, I would suggest that you read and understand the concept of seasonal adjustment as presented here by Jodi Beggs at about.com: https://economics.about.com/od/unemployment-category/ss/TheBasics-of-SeasonalAdjustment.htm?utm_source=exp_nl&utm_medium=email&utm_term= list_economics&utm_campaign=list_economics&utm_content=2015 0427 Although the article deals with US unemployment data, it could equally apply to the case of Canada. At the very end of Ms. Beggs discussion, there is a link to a simple example calculation she has produced on seasonal adjustment. It is quite interesting and insightful. By the way, if you do not know of Jodi Beggs, I would suggest you explore her website for a few minutes. She does a lot of neat stuff and she has the rare ability of making complex concepts understandable. I think that you will find it interesting. b. Extract from CANSIM the non-seasonally adjusted quarterly data series for tourism demand expenditures in Canada for the period Quarter I, 2010 to Quarter 4, 2014. c. Plot the figures from part b) on a chart. Can you see the seasonal effect in the series? Of course you can! If you look closely, you will also notice the trend in the series. Analysis of Economic and Social Data ECO 2147 4 d. Now that you have the data, go to the manual Quantitative Methods for Business and Management. https://www.mylcc.co.uk/studymanuals/l5/L5_QM4BM.pdf e. Now you will construct a seasonally adjusted version of the tourism demand series. Start in section B on page 126. Start by computing the trend of the series in the same way as is done in sub-section d) on page 130. f. From page 130, follow all the subsequent steps as shown in the manual to arrive at the seasonally adjusted series. In the end, you should be able to present a table like the one on page 135. You must only turn in this table with your assignment. Your calculations must however be completed in Excel. Ensure that the table is large enough (it should almost take up a page) so that we can easily read your numbers. You will now appreciate the meaning of a s.a. series and how it is constructed.