1. Use methods of descriptive statistics to summarize the data. Comment on the findings.
2. Develop estimated regression equations, first using annual income as the in- dependent variable and then using household size as the independent variable. Which variable is the better predictor of annual credit card charges? Discuss your findings.
3. Develop an estimated regression equation with annual income and household size as the independent variables. Discuss your findings.
4. What is the predicted annual credit card charge for a three-person household with an annual income of $40,000?
5. Discuss the need for other independent variables that could be added to the model. What additional variables might be helpful?
Task 2 10 Marks
The data set for group assignment you can find on Blackboard in the folder assignment.
Required:
Activity 01:
Enter all data from the spreadsheet “Data for Assignment “into Excel. You will need to set up the variable view with the following 11 variables and then enter the data in excel:
a) Student_ID,
b) Year_Enrolled,
c) HI001_Final_Exam,
d) HI001_Assignment_01,
e) HI001_Assignment_02,
f) HI002_Final_Exam,
g) HI002_Assignment_01,
h) HI002_Assignment_02,
i) HI003_Final_Exam,
j) HI003_Assignment_01,
k) HI003_Assignment_02.
Activity 02:
a) Draw a histogram for each one of the 11 variables?
b) Do descriptive statistics (mean, standard deviation, minimum, maximum) for each one of the 11 variables.
Activity 03:
a) Do at least 10 different correlations between the any pairs of variables: For example:
o HI001_Final_Exam and HI002_Final_Exam
o HI001_Assignment_01 and HI001_Assignment_02
b) For each correlation discuss the results:
o Are they are positive/negatively correlated?
o Are they weak or strong correlations?
o What is the significance value?
o What does the significance value reveal about the data we have used?
Required:
a) Copy –paste the result from your Excel file to a Word document.
b) Copy-paste ALL the output from all the activities requested in Activity 01 to 03 in Excel and put the answers in the same Word document.
c) Answer all discussion questions requested in Activity 01 to 03 and put the answers in the same Word document.
d) Submit a soft copy of the Excel files used in Excel and the Assignment Word document online under Assignment final submission.
Task 3
As part of a long-term study of individuals 65 years of age or older, sociologists and physicians at the Wentworth medical Center in upstate New York investigated the relationship between geographic location and depression. A sample of 60 individuals, all in reasonably good health, was selected; 20 individuals were residents of Florida, 20 were residents of New York, and 20 were residents of North Carolina. Each of the individuals sampled was given a standardized test to measure depression. The data collected follow; higher test scores indicate higher levels of depression. These data are available on the website that accompanies this text in the file named medical1. A second part of the study considered the relationship between geographic location and depression for individuals 65 years of age or older who had a chronic health condition such as arthritis, hypertension, and/or heart ailment. A sample of 60 individuals with such conditions was identified. Again, 20 were residents of Florida, 20 were residents of New York, and 20 were residents of North Carolina. The levels of depression recorded for this study follow. These data are available on the website that accompanies this text in the file named medical2