Topic An Assignment on Statistics Concepts and Descriptive Measures

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Topic:An Assignment on Statistics Concepts and Descriptive Measures

AnAssignment on Statistics Concepts and Descriptive Measures

Thecategory “Consumer Food” was chosen as the dataset to be used inthis assignment. The dataset contains five columns comprising of bothquantitative and qualitative data. Quantitative data is that datawhich can be measured and written down in numerical terms, whereasqualitative data simply describes the attributes possessed byparticular subject or object (Mulholland &amp Jones, 2014).

  1. Column 1 (Annual Food Spending ($)) – A2:A201

Thiscolumn contains quantitative data in that it contains informationconcerning the amounts of money spent on food by different householdsover a period of 1 year. The level of measurement of the data in thiscolumn is the interval level. In the interval level of measurement,there is a fixed interval between two adjacent data points. In thiscase, two adjacent data points are separated by $1.

Usingthe =AVERAGE function in Excel, the mean for the data in the column(A2:A201) is $8966. The formula of the function used is“=AVERAGE(A2:A201)”. The median for the dataset A2:A201 is $8932.The formula of the function used is “=MEDIAN(A2:A201)”.

Themean and median are a measure of central tendency. They indicate thecenter of the distribution of the values in a dataset. The closenessin the mean and median values for the column A2:A201 (8966 and 8932respectively) indicate that the distribution of the data in thecolumn A2:A201 is symmetric, and that the center of the distributionlies close to where these values are (Mulholland &amp Jones, 2014).

Usingthe =STDEV.S function, the standard deviation for the data A2:A201 is$3125.008. The standard deviation is a measure of how far the valuesin a dataset are from the mean (Mulholland &amp Jones, 2014). Thefunction used is “=STDEV.S(A2:A201)”, and it indicates that thevalues in the data set deviate from the mean of $8966 by a value of$3125.008. The majority of the values in the dataset lie between$8966±3125.008

Therange of the values in the column A2:A201 is the difference in thevalues obtained from the =MIN and =MAX functions. The =MIN function“=MIN(A2:A201)” gives a result of $2587. The =MAX function“=MAX(A2:A201)” gives a result of $17740. The difference betweenthe two is ($17740-$2587) = $15153. This range shows that the data inthe column is widely spread out.

  1. Column 2 (Annual Household Income ($)) – B2:B201

Thiscolumn also contains quantitative data since it comprises of datarelating to the amount of money ($) gotten by different householdsover a period of 1 year. The level of measurement of the data in thiscolumn is the interval level. Any two data points in an intervalscale are separated by a fixed interval (which in this case is $1)(Mulholland &amp Jones, 2014).

Usingthe =AVERAGE function, the mean for the data in the column (B2:B201)is $55552. The formula used in the function is “=AVERAGE(B2:B201)”.The median for the data B2:B201 is $54957. The formula of thefunction used is “=MEDIAN(B2:B201)”. The mean and median valuesare close to one another (55552 and 54957) indicating that the centerof the distribution occurs close to these values. It also shows thatthe distribution of the values in this column is symmetric.

Usingthe =STDEV.S function, the standard deviation for the data B2:B201 is$14661.36. The function “=STDEV.S(B2:B201)” yields a result thatindicates that the values in the column deviate from the mean of$55552 by a value of $14661.36. The majority of the data values inthe column, therefore, lie between $55552±14661.36.

Therange of the values in the column B2:B201 is the difference in thevalues obtained from the =MIN and =MAX functions. The =MIN function“=MIN(B2:B201)” gives a result of $21647. The =MAX function“=MAX(B2:B201)” gives a result of $96132. The range is($96132-$21647) = $74485. The huge difference indicates that thevalues in the column are spread out significantly.

  1. Column 3 (Non-mortgage household debt ($)) – C2:C201

Thiscolumn is made up of quantitative data since the values in its columndeal with the amount of non-mortgage household debts ($) owed byvarious households over a period of 1 year. The level of measurementof the data in this column is the interval level because it makes useof $1 to separate the interval between two adjacent data points.

Usingthe =AVERAGE function, the mean for the data in the column (C2:C201)is $15604. The formula of the function used is “=AVERAGE(C2:C201)”,and it yields a result of $15604. The median for the data C2:C201 is$16100. The formula of the function used is “=MEDIAN(C2:C201)”.As with the previous columns, the mean and median values of thecolumn C2:C201 are close (15604 and 16100). The center of thedistribution of the values in the dataset occurs close to thesevalues. The closeness between the values also indicates that thedistribution of the values in the column is symmetric (Mulholland &ampJones, 2014).

Usingthe =STDEV.S function, the standard deviation for the data C2:C201 is$ 8583.539127. The standard deviation describes how far the values ina dataset are from the mean. The function used is“=STDEV.S(C2:C201)”, and it indicates that the values in the dataset deviate from the mean of $15604 by a value of $8583.539127. Thebulk of the data values in the dataset occur between$15604±8583.539127.

Therange of the values of the data in the column C2:C201 is thedifference in the values obtained from the =MIN and =MAX functions.The =MIN function used is “=MIN(C2:C201)” and it gives a resultof $0. The =MAX function used is “=MAX(C2:C201)” and it gives aresult of $36374. The difference between the two values gives a rangeof $36374, indicating that the data in the column is greatly spreadout.

  1. Column 4 (Region)

Thiscolumn of made up of qualitative data because it describes thegeographical region different households live in using compass points(NE, MW, S, and W). The level of measurement of the data in thiscolumn is nominal. Nominal levels of measurement distinguishdifferent items based on their names or the categories the itemsbelong to (Mulholland &amp Jones, 2014). Different households havebeen categorized as living in one of the four regions described usingthe four compass points.

  1. Column 5 (Location)

Thiscolumn comprises of qualitative data as it describes the locationthat various households reside in with respect to the metro (outsidemetro, and metro). The level of measurement of the data in thiscolumn is also nominal (Mulholland &amp Jones, 2014). The differenthouseholds have been put into 2 categories (outside metro, and metro)dependent on whether they live in the metro or outside.

References

Mulholland,H., &amp Jones, C. (2014). Fundamentalsof Statistics.Amsterdam: Elsevier Science.