07 Jun QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions (Consumer Food) NEW
Purpose of Assignment
The purpose of this assignment to orient students to the key concepts in statistics. This assignment will introduce students to the language of statistics. Students will also get a chance to warm-up on evaluating some basic descriptive statistics using Excel® prior to the course start.
Assignment Steps
This assignment has an Excel dataset spreadsheet attached.
Resource: Microsoft Excel, Statistics Concepts and Descriptive Measures Data Set
Download the Statistics Concepts and Descriptive Measures Data Set.
Choose:
• Financial
Answer each of the following in a total of 90 words:
• For each column, identify whether the data is qualitative or quantitative.
• Identify the level of measurement for the data in each column.
• For each column containing quantitative data:
• Evaluate the mean and median
• Interpret the mean and median in plain non-technical terms
• Use the Excel =AVERAGE function to find the mean
• Use the Excel =MEDIAN function to find the median
• For each column containing quantitative data:
• Evaluate the standard deviation and range
• Interpret the standard deviation and range in plain non-technical terms
• Use the Excel =STDEV.S function to find the standard deviation
• For range (maximum value minus the minimum value), find the maximum value using the Excel =MAX function and find the minimum value using the Excel’s =MIN function
Annual Food Spending ($) Annual Household Income ($) Non mortgage household debt ($)
8909 56697 23180
5684 35945 7052
10706 52687 16149
14112 74041 21839
13855 63182 18866
15619 79064 21899
2694 25981 8774
9127 57424 15766
13514 72045 27685
6314 38046 8545
7622 52408 28057
4322 41405 6998
3805 29684 4806
6674 49246 13592
7347 41491 4088
2911 26703 15876
8026 48753 16714
8567 55555 16783
10345 71483 21407
8694 50980 19114
8821 46403 7817
8678 51927 14415
14331 84769 17295
9619 59062 16687
9286 57952 14161
8206 58355 19538
16408 81694 15187
12757 69522 14651
17740 96132 0
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