The information for the required variable, “Income,” has already been completed and can be used as a guide for completing information on the remaining variables.

statistics

Description

Scenario: Please write a few lines describing your scenario and the four variables (in addition to income) you have selected.

Use Table 1 to report the variables selected for this assignment. Note: The information for the required variable, “Income,” has already been completed and can be used as a guide for completing information on the remaining variables.

Table 1. Variables Selected for the Analysis

 Variable Name in the Data Set Description (See the data dictionary for describing the variables.) Type of Variable (Qualitative or Quantitative) Variable 1: “Income” Annual household income in USD. Quantitative Variable 2: “Marital Status” Marital Status of the Head of the Household Qualitative Variable 3: “Family Size” Total Number of People in Family (Both Adults and Children) Quantitative Variable 4: “Annual Expenditures” Total Amount of Annual Expenditures Quantitative Variable 5: “Food” Total Amount of Annual Expenditure on Food Quantitative

Reason(s) for Selecting the Variables and Expected Outcome(s):

1.       Variable 1: “Income” – It is very important to understand the income distribution of similar type of family and family size. Hence, this variable is selected.

2.       Variable 2: “Marital Status “– It is very important to understand analyze other variables based on this variable value. Hence, this variable has been selected.

3.       Variable 3: “Family Size “- It is very important to understand the scenario based on family size and need to filter other variables based in this variable. Hence this variable is selected.

4.       Variable 4: “Annual Expenditures “- It is very important to understand the total annual expenditure based on data for similar type of family and family size. Hence, this variable is selected.

5.       Variable 5: “Food “- – It is very important to understand the annual food expenditure of similar type of family and family size. Hence, this variable is selected.

Data Set Description:

Proposed Data Analysis:

Measures of Central Tendency and Dispersion

Complete Table 2. Numerical Summaries of the Selected Variables and briefly explain why you choose those measurements.  Note: The information for the required variable, “Income,” has already been completed and can be used as a guide for completing information on the remaining variables.

Table 2. Numerical Summaries of the Selected Variables

 Variable Name Measures of Central Tendency and Dispersion Rationale for Why Appropriate Variable 1:  “Income” ●        Number of Observations ●        Median ●        Sample Standard Deviation I am using median for two reasons: 1.       If there are any outliers or the data is not normally distributed, the median is the best measure of central tendency. 2.       The variable is quantitative.   I am using sample standard deviation for three reasons: 1.       The data is a sample from a larger data set. 2.       It is the most commonly used measure of dispersion. 3.       The variable is quantitative. Variable 2: “Marital Status” Number of Observations of each marital status Mode I am using Mode for following reason: 1.       To understand what is the distribution (frequency) of married and unmarried people – Who are appearing a greater number of times Variable 3: “Family Size” Mean Median Standard Deviation I am using Mean to understand what is the normally the size of a family. I am using median for two reasons: 1. If there are any outliers or the data is not normally distributed, the median is the best measure of central tendency. 2. The variable is quantitative.   I am using sample standard deviation for three reasons: 1. The data is a sample from a larger data set. 2. It is the most commonly used measure of dispersion. 3. The variable is quantitative. Variable 4: “Annual Expenditures” ●        Number of Observations ●        Median Sample Standard Deviation I am using median for two reasons: 3.       If there are any outliers or the data is not normally distributed, the median is the best measure of central tendency. 4.       The variable is quantitative.   I am using sample standard deviation for three reasons: 4.       The data is a sample from a larger data set. 5.       It is the most commonly used measure of dispersion. 6.       The variable is quantitative. Variable 5: “Food” ●        Number of Observations ●        Median ●        Sample Standard Deviation I am using median for two reasons: 5.       If there are any outliers or the data is not normally distributed, the median is the best measure of central tendency. 6.       The variable is quantitative.   I am using sample standard deviation for three reasons: 7.       The data is a sample from a larger data set. 8.       It is the most commonly used measure of dispersion. 9.       The variable is quantitative.

Related Questions in statistics category

Disclaimer
The ready solutions purchased from Library are already used solutions. Please do not submit them directly as it may lead to plagiarism. Once paid, the solution file download link will be sent to your provided email. Please either use them for learning purpose or re-write them in your own language. In case if you haven't get the email, do let us know via chat support.