Beo6000 Assessment 2 Business Research Data Analysis Report

Assessment 2Business Research Data Analysis ReportSubject: BEO6000 - Data Analysis for Business Submitted toPage 1 of 24Table of Contents1. Executive Summary032. Introduction/Background....033. Research Objective.....034. Hypothesis statements for Testing .....045. Methodology.. ....056. Results and Interpretations......067. Findings and Discussion......218. Recommendations.......219. Limitations of this Study.............2210. Conclusion ......2211. Reference......231. Executive Summary Page 2 of 24In todays date similar to many other industries, insurance industry is also adopting technology to take thedecisions more effective and efficient. Therefore, the data driven decision making process is becomingeven more crucial for this industry. Although the Machine learning, artificial intelligence is beingextensively utilized in this industry but to analyses the data and get the accurate information can bringfurther transformation to this industry. To conduct this project, we have selected the US health insurance dataset from the Kaggle website. Thegiven data set has around 1338 rows of the insured data where we can get the insurance charges incomparison to the given attributes of the insured, such as, Sex, Age, Children number, Body Mass Index,Region and smoking. Utilizing the SPSS to conduct hypothesis tests, we will be explaining the categoricaland numerical variables as in sex, smoker, region, BMI and age group. We will be investigating thedistribution of mean, median as well