BSTA385 Duquesne University Carvalues (Business Statistics)

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BSTA385 Duquesne University Carvalues (Business Statistics)

Attached is assignment and the excel spreadsheet to go with it

A preview of the assignments follows:

  • construct 4 histograms to describe the distributions of Price, Cost/Mile, Road-Test score, and Value Score.
  • obtain the following descriptive statistics for each histogram which includes: mean, standard deviation, sample size and the five-number summary.
  • construct a pie or bar chart to display the distributions of Size and Predicted reliability, labeling the graphs with relative frequencies.

Notes:

– Be sure to clean up the excess descriptive statistics given in ‘data analysis, descriptive statistics’

output by removing anything that is not requested above.

– And reduce the decimal places to 2 or 3 decimals.

– If using data analysis, simply copy and paste the output given and add Q1 and Q3 to the table.

If using Excel functions, create a table and insert or type the requested statistics

Copy and paste each graph and the summary statistics.Please edit the output so that it is readable and fits easily in your report.(15 points)

b.Which histograms appear approximately normally (bell-shaped) distributed and which appear decidedly not bell-shaped?

  • c.Based on your answers from parts a) and b), give a brief summary report describing the characteristics of the typical sedan in terms of Size, Predicted reliability, Price, Cost/Mile, Road-Test score, and Value Score.(10 pts)

** Remember,

  • if the distribution is deemed bell-shaped, you will report the overall min and max, and use the mean and standard deviation to identify the middle 68% (by the Empirical Rule) of cities sampled.
  • if the distribution is NOT deemed bell-shaped, you will report the overall min and max, and use the median and Q1 and Q3 to identify the middle 50% range of cities sampled.

d.Now, separate the Price by size of the sedan.I would suggest that you copy and paste the size variable and the price variable onto a separate excel sheet.Then filter by size carrying the price.Make three separate columns of price, one for each size category; like the example showing the first three sedans in each size below:

Provide key descriptive statistics for describing price by size AND construct a side-by-side boxplot.Copy and paste the key descriptive statistics and a copy of the side-by-side box and whiskers plot for a visual comparison of the price by size of the car.(8 pts)

Based on the separated descriptive statistics provide a brief summary report comparing the price by car size. Does this information suggest that the price of a car is noticeably different for sedan size categories?Explain.(3 pts)

e.Develop a scatterplot and compute the sample correlation coefficient to explore the relationship between cost/mile (on the x-axis) and the value score (on the y-axis). Copy and paste the labeled scatterplot and the correlation coefficient.Use this information to briefly summarize the relationship.(4 pts)

Extra Credit (3 pts):You may compare the household income between those subscribers planning to make a real estate purchase in the next year (or between those that have children or not), like part d. above.Provide the box and whiskers plot comparison and the descriptive statistics.