Economic Condition of Australia & New Zealand-Samples for Students

Question: Discuss statistics on parts of an article, you will need to do this is in the middle part assignment due in week 6. Answer: There is always a changing nature in worldwide trade and this results in an uncertainty of the new and emerging technologies and globalization or effects in the policies (Buckley Casson, 2016). Additionally the environment involves continuously the landscapes of New Zealand and Australia. The communication with the two countries is greatly overrated with constant and revolutionary impacts of the uses of internet in the international limits. These factors influence in developing the economic rate of growth in the near future (Feige Vonortas, 2017). The factors relating to this growth can be then discussed broadly on the basis of the efficiency of the acquired data and summarizing the trends from that data. Chart 2 shows the exports of the countries Australia and New Zealand as a percentage of the global GDP. The changes in the trends of the data and the fluctuations in it are shown according to the preferences of the customers. These changes have worn out the geographical barriers as well as initiated the international trade (Flanagan, 2017). These changes in the trends show the changes in demands, technologies and globalization with lesser input costs. This globalization data abridges the effects of growth rates over the year. This data has been collected from the world Bank Data derived in 2016. The variables in this data are year (Quantitative data) and percentage change in GDP (Quantitative data). This data shows the whole population of the country. Thus, this is descriptive statistics and not inferential statistics. The percentages show the increase percentages. They do not show the respective probabilities. The amount each year has been shown in the chart by the line graph. This helps in comparing the data easily. The data in the chart 2 can be improved with the appropriate changes done. This will summarize the changes from the average with the help of the standard deviation of the growth in GDP (Kane et al., 2015). This can be explained with the help of ordinal data collected from the Department of Foreign Affairs and Trade for Australia. The exporters of Australia has been ranked and the top five of the countries has been listed in chart 3 over a five-year period from 1995. From the chart 3 it is clearly visible that since 1995, Japan has been the most important export market for Australia followed by the country China. It can thus be predicted that in the future, China and Japan would the leaders in the export markets of Australia. The data in the following chart 3 is ordinal. The top 5 export markets of Australia has been listed in the chart. The study is experimental, and thus in the later years there is chance of the predictions to change invariably. Chart 5 shows the internet usage of the two countries Australia and New Zealand. The trend lines show that the internet usage in the two countries has been increasing continuously starting from June 2016 until now. The data on the internet usage has been collected from the Australian Bureau of Statistics. The data is based on the Internet Service Provider Survey conducted by Deloitte. From the chart it can clearly be seen that the rate of increase in the internet usage has constantly been increasing in New Zealand than Australia (Mokyr, Vickers Ziebarth, 2015). The usage of New Zealand has increased from 10,000 Tb in 2011 to 700,000 Tb in 2016. In Australia, the usage has been below 100,000 Tb over the five years from 2011 to 2016. The chart contains the variable year (Quantative variable) and internet usage in Tb (Quantative variable). The data is shown in a ratio scale. The line graphs show the trends in the two countries of Australia and New Zealand and thus can be easily comparable. Again, the exports has to be found out from the increase in the demands in the global markets of the China products. The data on Australia and New Zealand in chart 5 has been collected from the Australian Bureau of Statistics updated until June 2016. The values of the goods and services of the countries Australia and New Zealand are given in the form of ratio in scale. The data is shown in chart 11. The exports conducted from Australia contains more goods (78%) but the composition in GDP shows that Australia conducts more exports in services (77%). There is a difference in the opinions from the two graphs. The similar condition has been shown for New Zealand as well. The total export of New Zealand has been of the value of NZ$70.9 billion (Brown, Campbell Crook, 2014). The total exports of the GDP composition has been shown with the help of the doughnut chart. This chart has been used to show the comparison easily between the two countries Australia and New Zealand. The drivers have shown different factors which has illustrated significant changes over the 5 year period mainly for the industries based on services (Curtis et al., 2014). It can be seen that the information, media and telecommunications have occupied the top of the chart. The digitalization and technology has been so famous in the past five years that their growth has been most significant (Brown, Campbell Crook, 2014). From the chart 12, it can also be seen that the three drivers have less than 50 percent coverage for the industries such as forestry but media and communication industry has been covered by the drivers by more than 70 percent. The stacked bar chart shows the top ranked drivers of change over the next five years in the industry. It shows the percentages of the ratio scales of measurements. The results have been calculated using cumulative percentages of the frequency distributions The ogive curve can also illustrate the cumulative percentages. With the help of the stacked histogram, the data can be easily compared. With the help of the data, the changes in technology, government policies and changing preferences can be forecasted following the past trends. As a conclusion, it is very clear that the economic condition of the two countries considered in the report such as Australia and New Zealand is very strong but still its exports has to grown through changing trends globalization and policy. The data can be further analyzed and discussed through the use of appropriate statistical techniques such as with the use of Normal probability distributions. The data of the surveys considered in this assignment has all been collected from the Australian Bureau of Statistics with data updated until 2016. The changes in the data could be shown with more clarity by using the techniques of statistical inferences. Time series data can be used for showing the proper predictions in the future. References Brown, D. A., Campbell, K. S. W., Crook, K. A. (2014).The Geological Evolution of Australia New Zealand: Pergamon International Library of Science, Technology, Engineering and Social Studies. Elsevier. Brown, D. A., Campbell, K. S. W., Crook, K. A. (2014).The Geological Evolution of Australia New Zealand: Pergamon International Library of Science, Technology, Engineering and Social Studies. Elsevier. Buckley, P. J., Casson, M. (2016).The future of the multinational enterprise. Springer. Curtis, A., Ross, H., Marshall, G. R., Baldwin, C., Cavaye, J., Freeman, C., ... Syme, G. J. (2014). The great experiment with devolved NRM governance: lessons from community engagement in Australia and New Zealand since the 1980s.Australasian Journal of Environmental Management,21(2), 175-199. Feige, D., Vonortas, N. S. (2017). Context appropriate technologies for development: Choosing for the future.Technological Forecasting and Social Change,119, 219-226. Flanagan, S. (2017). Building resilience in Japan-China ties: a role for Australia. Kane, G. C., Palmer, D., Phillips, A. N., Kiron, D., Buckley, N. (2015). Strategy, not technology, drives digital transformation.MIT Sloan Management Review and Deloitte University Press,14. Mokyr, J., Vickers, C., Ziebarth, N. L. (2015). The history of technological anxiety and the future of economic growth: Is this time different?.The Journal of Economic Perspectives,29(3), 31-50.