STAT200 Introduction to Statistics

Assignment #1: Statistics Data Analysis Plan

Assignment #1: Prepare Descriptive Statistics Data Analysis Plan

Before conducting any statistical analyses, researchers develop a plan for how they will analyze their data to answer their research questions. The purpose of this assignment is to provide experience developing and executing a descriptive statistics analysis plan using real world data to answer a practical question.

Note: This first assignment develops and executes a preliminary plan using provided data to create tables and graphs to address an assigned task. The second assignment will involve carrying out the plan in greater detail, after receiving feedback from your instructor.

Assignment Steps:

Step #1: Understanding the task to be addressed:

You are a Financial Advisor and have been asked to perform the following task:

Using provided real world data determine the budgetary annual expenditure your client should anticipate, assuming your client has the following social/economic family profile.

Profile:

Family Income$97,000.00

Marital StatusSingle

Family SizeFour (4)

AgeFifty Three (53)

Step #2: Review the provided sample data set provided.

The data in this study is a random subsample from the US Department of Labor's Consumer Expenditure Surveys (CE) and provides information about the composition of households and their annual expenditures (https://www.bls.gov/cex/).The random data to be used in this study has been downloaded and is provided as an attachment in this folder. Detailed information on the sample and variables is included with the attachment (data set file).Please carefully review this information to familiarize yourself with the data

Note: This data set will be used for all of the written assignments.

Step 3: Complete the following Table

Do not enter data here. Enter data in the Attachment for submitting Assignment 1

Variable

Categorize*

Minimum

Maximum

Mean

Shape **

Outlies***

Income

Family Size

Age

* Abbreviations: Qual. for Qualitative data (categorical), Quant for Quantitative data

**Left, Right, Symmetrical (Sym.)

***Identify outliers by Id number or 0

Step 4:Graph for the following variables

Food vs Age

Food vs Marital Status

Food vs Income

Describe at least one important characteristic observed from each graph.

Step 5Based upon the data provided:Provide 7 or more subjects that best represent your client's social/economic lifestyle.If one or more of the 7 recommended subjects is a 'push', identify the outlier or outliers with a short concise explanation as to why.

Step 6What is your estimate of the mean and standard deviation of the cost of food for your client based upon the 7 representative subjects?

Step 7Explain in bullet form, in a clear and orderly procedure: the method used (in step format) for determining your recommended list of subjects.

Step 8This Assignment is to be submitted using the formatted file attachment for submitting the assignment in the Assignment 1 folder.