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.
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Note: This first assignment develops and executes a preliminary plan using a subset of the data to create tables and graphs to address the assigned task. The second assignment will involve carrying out the plan in greater detail, after receiving in class feedback from your instructor.
Step #1: Understanding the task to be addressed:
You are interviewing for a new job as a Financial Advisor and have been asked to perform the following task:
Using the provided real world data determine the budgetary expenditures for groceries (food) your client should anticipate, assuming your client has the following social/economical family profile.
In Assignment 2 you will have leeway in selecting your client’s social/economical family profile.
Family Income $97,000.00
Marital Status Single
Family Size Three (3)
Age Forty five (45)
Step #2: Review the provided sample data set provided.
The data is a 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/). Detailed information on the sample and variables is included with the data set file; please carefully review this information to familiarize yourself with the data
Note: This data set will be used for all three of this term’s written assignments.
Step 3: Complete the following Table
Do not enter data here. Enter data in the Attachment for submitting Assignment 1
Shape (L, R, S)
* Abbreviations: C for category, Q for Quantitative
** Identify outliers by Id number or enter zero
Step 4: Graph (Dot plot, Histogram and Box and Whiskers) for the following variables and the associated table using Statkey. (2 graphs/table per page-see step 7)
Income vs Marital Status
Groceries vs Income
Describe at least one important characteristic observed from the graph of each of the variables.
Step 5 Based upon the data provided: What is the appropriate grocery budgetary expenditure you would recommend for your client?
Step 6 Explain in bullet form, in a clear and orderly procedure, the method used (steps) in determining your recommended budgetary expenditure. List the subjects used in your analysis by Identification Number. Include the rational used to determine the subjects used in the analysis.
Step 7 This Assignment is to be submitted using the formatted file attachment for submitting the assignment in the Assignment 1 folder.