MIS770 Foundation Skills in Business Analysis
To: Daisy Pearce, Manager, Public Relations, PM’s Office
From: Ellyse Perry, Chief Analyst, Survey House
Subject: Analysis of Climate Change Survey Data
The following is an analysis which is carried out on the recent data of Climate Change Survey from the ClimateChangeSurvey.xlsx file
An Overall View of Monthly_Payment spend per month
Electricity is one of the basic needs in the world today. From the data on the file, four hundred people are willing to pay a total of $92,682.00 per month for renewable energy to have a zero net electricity bill. The payment of electricity bill amount ranges from 0.00 dollars to 1,349.00 dollars from each person. A lot of people are willing to pay between $ 50.00 and $ 600.00 to settle their electric bills monthly. The average amount of which four hundred people are willing to pay for renewable energy in a month to have a net-zero electricity bill is $ 462.25.
Monthly_Payment vs Concerned
There is no relationship between the two variables of Monthly_Payment for the renewable energy and how Concerned people are with the current situation in regards to the Climate Change from the data collected among the four hundred people on the file. There is a high percentage of not concerned people about climate change who are willing to pay an average amount ranging from 200 to 400 dollars. Very concerned people vary in payment for renewable energy. Some pay small amount are very concerned and those that pay a higher amount and still very concerned about climate change. People who are slightly, somewhat and extremely concerned also follow the trend of those who are very concerned about climate change.
Climate Change Affordability Measures
In Australia, the average amount the people are willing to pay for renewable energy to have a net-zero electricity bill is $ 462.25. This amount is estimated across the whole country of Australia.
Australians have a great belief that their country should provide financial support to developing countries to help in addressing the issue of Climate change. The estimated number out of four hundred people is 241 people. This means that more than half of the investigated individuals are in support of helping the developing countries. About 60.25 per cent of Australians support the notion that Australia should support developing countries financially to assist in addressing climate change.
Climate Change Views
From the file data, 183 out of 400 people are installing Solar as the source of power in their homesteads. This is about 45.75 per cent of the total population of Australians. The rate of usage of solar energy by Australians was understated by the report published by the national daily newspaper. The true figure as claimed by the industry energy group is higher than 25 per cent as seen above.
From the data collected, the average amount that Australians make pay for an up-front payment to have a net-zero electricity bill for renewable energy is $20,333. The claims of the industry energy group and the report from the national daily newspapers that the pay up-front is at least $21,500 is true.
Relationships
The amount which people are willing to pay monthly to have a net-zero electricity bill through renewable energy is directly proportional to the income that people earn. The higher the income the higher the monthly payment and the lower the income the lower the monthly payment. The factor of the age of an individual does not necessarily determine the amount paid for the electricity bills. The most important factor between income and age is income.
Appropriate Sample Size
From the sample of 400 people, those who are Aware and Very Aware are 72.25 per cent. To increase this by 3 per cent, the new sample will be of 418 people. When the average monthly payment is increased by $20, the new sample will be also of 418 people. Therefore, the new sample to be used in next year is 418 to satisfy both the requirements.