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Business Analysis of Data from the Australian Government Department of Foreign Affairs and Trade - Assignment Example

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The author discusses figures from the statistical charts or diagrams have been extracted from one source, i.e. the Australian Government Department of Foreign Affairs and Trade. The author also examines The Retail Price Index (RPI) used in the United Kingdom for calculating inflation. …
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Business Analysis of Data from the Australian Government Department of Foreign Affairs and Trade
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Download file to see previous pages The figure has covered all necessary parts that it could, however, it represents a very narrowed approach in terms of services imported by Australia from the US. Instead of the portion of ‘other services’, there should have been defined and represented the services more clearly than just putting them all into one category. Other than that, the diagram perfectly presents the actual message, i.e. increased imports since the last 20 years and does not seem to be misleading. The second figure shown below is a table that discusses the total trade that has been made between the US and Australia in four different fiscal years. (Figure 2) The main conclusion that has been actually been drawn from the figure is that the total trade has been increasing between Australia and the US. The total exports have risen from 1984-85 to 1999-00, where the pace of rising imports has been faster than imports. Resultantly, the trade balance of Australia has been affected in negative numbers, where the country is importing more and exporting less to the US, but over the trade has been expanded. The data given in the table have projected the authentic information. Therefore, given the context of the information, there might not be a need for an improvement in the figure. Additionally, the diagram could be misleading if the currency value had not been defined above, as then the numbers could not describe the actual value in financial terms. The third figure selected is a histogram which shows the levels of foreign investments made in Australia by different countries in the world. (Figure 3) The figure concludes the fact that highest investments have been made by the US and the European countries which are directly the part of the European Union. The data is selected from the 6 years period, i.e. from 1994-95 to 1999-00. The increasing trend in each case (EU, ASEAN, China/HK, USA, NZ, Japan, and Other) shows that foreign direct investment got an overall increment of 150% in Australia only. A further improvement in this histogram can be made in terms of separating the significant countries from the EU so that they could be individually compared to the FDI made by the US alone. The only misleading thing that can be noticed in the figure is about the colors of the bars that represent a specific financial year, as it is a bit confusing as the only grey and blue colors have been represented to describe 6 years, whereas different colors could show the figure more clearly to those who don’t understand it well. 2 (B): The data given below in figure (4) is related to the top 15 countries of very high human development index (HDI). The values of HDI of different periods/years are shown below: (Figure 4) The figure represents simple data with HDI of 15 countries over a 31 year period. The one factor common in all the countries is that HDI is increasing, and how much or with what percentage it is increasing can be represented through a histogram, shown in figure 5 below: (Figure 5) The figure above now shows a clear representation of the values of HDI for 15 countries. A keen look at the picture shows that HDI among the top 15 countries has significantly increased for Norway, Ireland, Germany, Hong Kong, China, Iceland, and Denmark.  ...Download file to see next pagesRead More
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