Part 1 Fundamental Data Analysis on a Single Random Variable

Identify a discrete or continuous random variable and collect 100 observations on this random variable. You must be able to identify whether this random variable is discrete or continuous. In Sheet1, compute the sample mean, sample median, sample range, and sample standard deviation. Also in Sheet1, construct a histogram (or paste the histogram created from Minitab). Add a section to your report (Word document) that summarizes your efforts in Part 1. This section should include the definition of the random variable, whether it is discrete or continuous, how/where you collected the data, the values of the statistics, and the histogram. It should not include your data.

Part 2 Is Time a Factor?

Identify a random variable for which data must be collected over time and you think the passage of time may influence the behavior of the random variable. This can be a different random variable than the one used in Part 1, or the same random variable --- if you have reason to believe time may be a factor. Collect at least 30 observations on this random variable. Enter this data into Sheet2 of your workbook. In Sheet2, construct a time-series plot (or paste the plot created from Minitab). Add a section to your report that summarizes your efforts in Part 2. This section should include the definition of the random variable, why you think time may influence the data, how/where you collected the data, the time-series plot, and meaningful commentary on the plot. It should not include your data.

Part 3 Are the Random Variables Independent?

Identify two random variables for which data can be collected in pairs and you think the two random variables may not be independent. These random variables can be different from those discussed in Parts 1 and 2, or one or both of them can be the same. Collect at least 30 pairs of observations on these random variables. Enter this data into Sheet3 of your workbook. In Sheet3, construct a scatter plot. Add a section to your report that summarizes your efforts in Part 3. This section should include the definition of the random variables, why you think the random variables may not be independent, how/where you collected the data, the scatter plot, and meaningful commentary on the plot. It should not include your data.