Which statistical test to use

#1
Hi all

So for my honours research project, I decided to answer the question of whether it is a good idea to invest in the tourism industry in south africa or not. I attached the excel file (which i had to convert to pdf so that it would upload, so if you could just covert it back to excel file once you download it).
So from this file i will be using all variables at actual figures and current prices, but i will only be considering the data for January of each year (2007-2017).
Please can i get advice on the best statistical procedure to use ( i am using spss) to answer my question.

I am under a huge time constraint because i start my final exams now in February and would greatly appreciate any sort of help!

Thanks in advance!
 

Attachments

#3
The data is hard to get, so I'm going to have to use this data for the tests, I feel it is sufficient to answer the question, just that its compulsory for me to do a more advanced test other than descriptive statistics. do you have any recommendation on what to use just to get that mandatory part out of the way?
 
#4
"I feel it is sufficient to answer the question..." You feel? I thought your coming to this forum was a demonstration of understanding that you do not know statistics sufficiently well...
 
Last edited:
#5
I actually have a great understanding of statistics, on a theoretical level, in practice though is where I struggle because I haven't worked in my field yet, still a student, so that's why I joined this forum, not because I don't understand statistics, because I need assistance with the practical side of it.
 

ondansetron

TS Contributor
#7
"I feel it is sufficient to answer the question..." You feel? I thought your coming to this forum was a demonstration of understanding that you do not know statistics sufficiently well...
Why are you here, then? I'd imagine some people are here because they like tutoring, some people know quite a bit in some areas but not in others, some people may be brand new or just looking for homework help. I wouldn't say that anyone on the site necessarily lacks understanding, especially not in general. Every statistician I've met has talked about how impossible it is to know everything and how frequently they reference materials for topics that aren't in their daily activities.

I would have probably just asked why they think it's sufficient, and maybe then given a counter argument if you disagreed with their logic.
 

CowboyBear

Super Moderator
#8
So for my honours research project, I decided to answer the question of whether it is a good idea to invest in the tourism industry in south africa or not. I attached the excel file (which i had to convert to pdf so that it would upload, so if you could just covert it back to excel file once you download it).
I haven't looked at your data so I might be missing something here, but it isn't immediately clear to me how you would be able to use statistics to answer your research question. The question of whether a particular asset is a "good" investment is not really a statistical question: One would usually need to use some kind of financial model (net present value of expected future returns, capital asset pricing model, etc.) to estimate the value of the investment, and then compare that to the current price. In other words, this seems like more of a finance question than a statistics question. What discipline are you studying?