Assignment 3 inferential statistics analysis and writeup umuc

: Inferential Statistics Analysis And Writeup

Introduction:

The sample data was gathered from 30 households chosen randomly from US Department of Labor’s 2016 Consumer Expenditure Surveys. The information provided in the survey were both socioeconomic and expenditure variables that were provided by each household. From the dataset, I plan to learn approximately how much income and expenses the average household incurs. All income and expenses must be gathered for each household in order to get a better picture.

Table 1. Variables Selected for the Analysis

Variable Name in the Data Set

Description

(See the data dictionary for describing the variables.)

Type of Variable

(Qualitative or Quantitative)

Variable 1: “Income”

Annual household income in USD.

Quantitative

Variable 2: “Expenditures”

Annual household expenditures USD

Quantitative

Variable 3: “Housing”

Annual household housing costs USD

Quantitative

Variable 4: “Electricity”

Annual household electricity costs USD

Quantitative

Variable 5: “Water”

Annual household water costs USD

Quantitative

Data Set Description and Method Used for Analysis:

Results:

Variable 1: Income

Numerical Summary.

Table 2. Descriptive Analysis for Variable 1

Variable

n

Measure(s) of Central Tendency

Measure(s) of Dispersion

Variable: Income

30

Median= 96907

SD = 6402.215

Graph and/or Table: Histogram of Income

Description of Findings.

From the analysis, we can see that the median is 96907 ad standard deviation is 6402.215. We can see that the standard deviation is high which means there is a high disparity on incomes of the sample. We can also see from the histogram that many families earn an income that ranges from 94 867 and 102 067.

Variable 2: Expenditure

Numerical Summary.

Table 3. Descriptive Analysis for Variable 2

Variable

N

Measure(s) of Central Tendency

Measure(s) of Dispersion

Variable: Expenditure

30

Mean = 67 631.5

SD = 12 312.27

Graph and/or Table.

Description of Findings.

For this variable, we can see that the deviation for the mean is 12 312.5 with the mean as 67 631.5. The deviation from mean is high which shows that most families have a high difference in income.

Variable 3: Housing

Numerical Summary.

Table 4. Descriptive Analysis for Variable 3

Variable

n

Measure(s) of Central Tendency

Measure(s) of Dispersion

Variable: Housing

30

Mean = 21684.67

SD = 3463.397

Graph and/or Table.

Description of Findings.

The mean is 21 684.67 and standard deviation 3463.397. The deviation is less which means that most families spend almost same amount in their annual housing cost.

Variable 4: Electricity

Numerical Summary.

Table 5. Descriptive Analysis for Variable 4

Variable

N

Mean/Median

St. Dev.

Variable 4: Electricity

30

Mode: 1478

SD: 102.2936

Graph and/or Table.

Description of Findings.

From the analysis we see that that the most occurring electric bill is 1478, the standard deviation is 102.2936 meaning the deviation around the mean is low.

Variable 5: water

Numerical Summary.

Table 6. Descriptive Analysis for Variable 5

Variable

n

Measure(s) of Central Tendency

Measure(s) of Dispersion

Variable:

30

Median = 554

Sd: 100.8857

Graph and/or Table.

Description of Findings.

It has a median of 554 and a standard deviation of 100.8857. The deviation from the mean for water coast Is less which means most families use almost same amount of water.

Discussion and Conclusion.

Based on the information, most families spend about the same amount in housing, electricity and water expenses. It’s also identified that there is a high disparity on incomes and that the majority of household income ranges from 94 867 and 102 067. Additionally, there is a big difference in income for some households.

Income

From

Variable 1: “Income”

Variable 2: “Expenditures”

Variable 3: “Housing”

Variable 4: “Electricity”

Variable 5: “Water”

551.0 542.0 548.0 520.0 546.0 555.0 538.0 545.0 552.0 535.0 553.0 540.0 523.0 539.0 523.0 547.0 743.0 814.0 773.0 705.0 719.0 694.0 754.0 620.0 627.0 689.0 767.0 769.0 709.0 768.0

56124.0 56440.0 55120.0 55932.0 55247.0 55963.0 57082.0 56453.0 56515.0 56488.0 55558.0 55746.0 55321.0 56051.0 55512.0 76558.0 80801.0 82699.0 83347.0 73092.0 81419.0 71597.0 83766.0 75996.0 73550.0 72971.0 83448.0 83471.0 82676.0 84002.0

18676.0 18376.0 18391.0 18701.0 18483.0 18435.0 18576.0 18520.0 18648.0 18838.0 18502.0 18149.0 18312.0 18484.0 18633.0 26513.0 25392.0 24949.0 22915.0 23252.0 26991.0 22376.0 22899.0 26283.0 27164.0 23150.0 25679.0 26074.0 22414.0 26771.0

1468.0 1441.0 1458.0 1479.0 1451.0 1465.0 1478.0 1469.0 1480.0 1470.0 1478.0 1455.0 1450.0 1457.0 1485.0 1342.0 1514.0 1503.0 1723.0 1300.0 1421.0 1315.0 1682.0 1326.0 1330.0 1320.0 1511.0 1486.0 1688.0 1457.0

STAT200: Assignment #2 - Descriptive Statistics Analysis Writeup - Template

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