Category: Statistics and Analytics

In your first assignment, you will be expected to describe the data provided using the measures of central tendency and measures of variability. Using raw data, you will demonstrate how to categorize and label variables. This will demonstrate that you understand how to interpret essential statistical terminology and concepts. You will also show how to use Excel to make these calculations. You will also be given a chance to construct a histogram to demonstrate your understanding of distributions. This assignment is all about illustrating that you understand the fundamentals of statistics.

Student Success Criteria

View the grading rubric for this deliverable by selecting the This item is graded with a rubric link, which is located in the Details & Information pane.

Scenario

You are currently working for a manufacturing business called RAS Direct. Your boss has tasked you with the job of understanding the buying habits of your clientele. In the Excel Workbook provided, you are given a sample of 50 clients. This data includes the following variables (with units of measurement, where applicable):

> Client Number

> Age (Years)

> Gender

> Yearly Income (Dollars)

> Yearly Client Expenditure (Dollars)

You are asked to answer the questions provided in the Excel Workbook below. Ensure that you are showing all work in Excel and explaining all steps. Ensure your boss sees that you understand the concepts and can follow along with your work.

Instructions

The Excel Workbook contains six tabs. The first tab contains the instructions. The second tab, labeled “data,” contains the raw data that will be used for your calculations. The next four tabs contain questions for you to answer. Ensure that you are completely answering all questions with explanations, and your work is shown in Excel when needed.

Apply the normal distribution, standard normal distribution, and central limit theorem.

Project Deliverable tie to Competency

In module 02, you will summarize graphical and numerical methods to represent quantitative data. This includes utilizing the central limit theorem to calculate probabilities for real-world problems. It will also require you to analyze the standard normal distribution to identify z-values and the area under the curve. You will illustrate how to find probabilities, proportions, and percents by using Excel formulas. You will also demonstrate how to identify the z-score given a probability. These concepts allow you to make predictions and analyze the data provided.

Student Success Criteria

View the grading rubric for this deliverable by selecting the This item is graded with a rubric link, which is located in the Details & Information pane.

Scenario

Your boss at RAS Direct has some problems that need to be solved to help with projects they are attempting to start. Your job is to solve the problems and explain the methods to your boss. The Excel Workbook is provided below.

In your submission, include the Excel formulas to find these calculations. Your boss must know the method so they can include the answers in a presentation they are providing later in the week.

Instructions

The Excel Workbook contains four tabs. The first tab contains instructions. The next three tabs contain several questions for you to answer. Ensure that you are completely answering all questions with explanations, and your work is shown in Excel when needed.