Reference no: EM131822211

PROBLEM SET #1

(Due the Following Week)

1) Using the data set lawn, for the numerical variable, family income:

a) Construct a frequency distribution using class intervals (bins) you think best. Why did you select these particular intervals?

b) Construct a graph you think best represents the data. Edit the graph to present it in the best format. Why did you pick this particular graph type?

2) Using the data set lawn, for the numerical variable Family income ($000):

a) Generate the mean, median, mode (it is possible there is no mode), and standard deviation. Write a brief statement that defines/interprets each one.

b) Compare the values for mean, median, mode and trim mean. (Follow the example in the Appendix regarding how to calculate the trim mean.) How can you explain the differences among them? Which measure do you think is most appropriate to represent central tendency for this data and why?

3) Using the following data, construct a line graph that shows investment value over the past decade. Values are in thousands of dollars.

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

52 58 57 57 61 63 62 55 53 56

4) Based on your research project, create a data set of 25 values for an appropriate numerical variable. -Just make up the values. You will not collect actual data until the Research Project Part II. Construct a frequency distribution and histogram for those values. What conclusions can you suggest based on your distribution and histogram?

5) Using the values from problem #4, calculate the mean, median, mode, and standard deviation. What conclusions can you suggest based on your analysis?