FINN1037
Quantitative Methods II
Undergraduate Programmes 2024/25
SUMMATIVE ASSIGNMENT
Investigate and model the relationship between two quantitative variables in a dataset. You have two options for selecting your dataset:
Your Own Dataset: Select a dataset containing at least 50 observations with two quantitative variables that you believe might have a relationship. If relevant, you may include additional variables to extend your analysis.
Provided Dataset (Housing_Prices.xlsx): Use the provided dataset, which contains information related to real estate prices and property characteristics. It includes a variety of factors that influence house prices, allowing for statistical analysis.
In your work you should:
(1) For those choosing their own dataset, provide a brief description and rationale for your choice.
(2) Regardless of dataset choice, explain why you believe there might be a relationship between the two variables you have chosen.
(3) Conduct a descriptive statistical analysis of your chosen variables. Include measures of central tendency and dispersion. Create visualizations to represent the distribution of and relationship between your chosen variables.
(4) Calculate and interpret the correlation coefficient for your variables to assess the strength and direction of their relationship.
(5) Develop a statistical model to quantify the relationship between your chosen variables. Your model should aim to predict one variable based on the other. You may include additional variables to extend your analysis. Provide an interpretation of the model parameters and assess the model's fit and predictive power.
(6) Discuss your findings in depth. What does the relationship between these variables suggest? Are there any surprising or notable patterns? How might this insight be valuable in the context of the chosen dataset?
Additional instructions:
For this assignment, you are required to use Microsoft Copilot, alongside relevant academic sources. Do not use any other AI tool, as only Microsoft Copilot has been approved to ensure data protection and equitable access for all students. Please adhere to the following:
(1) Clearly indicate in the text where Microsoft Copilot has been utilized.
(2) Include the generative AI source using this format: Author, Year (Version), Name of AI, [Description], Publisher, URL (if applicable), e.g.:
Microsoft (2023). Microsoft Copilot (version 12/05/2023) [Generative AI assistant]. https://www.microsoft.com/en-us/microsoft-365/copilot
(3): Include a reflective section (minimum 200 words) on the use of generative AI. This section should critically evaluate:
• Where AI was most and least effective.
• The impact of AI on the depth, coherence, and quality of your discussion.
The reflective section must be your original work. The use of generative AI to write this part of the assignment is NOT allowed.
(4): Include an appendix that will serve as your "Journal of Prompts." The journal should be formatted to include:
• The source of the AI (e.g., Microsoft, Year).
• Each initial and follow-up prompt used.
• Corresponding outputs from Microsoft Copilot for each prompt.
Refer to the Academic Integrity Guide for guidance on referencing and providing evidence of AI usage.
Note:
The reflective section counts towards the overall word count, which is capped at 1250 words. In line with rules on appendices, the Journal of Prompts in the Appendix does not contribute to the word count but must be included for transparency. Failure to disclose AI use may be treated as an academic offence under Section IV of the General Regulations.
Overall word limit: 1250 words