Business math and statistical measures

Unit 3: Instructor Graded Assignment

Statistics

In this and future Instructor Graded Assignments you will be asked to use the answers you found in the Unit 1 Assignment.

Note: For these questions you need to cite a reliable source for information, which means you cannot use sites like Wikipedia, Ask.com®, and Yahoo® answers. If you do use those sites the instructor may award 0 points for your response.

The Assignment problems must have the work shown at all times. The steps for solving the problems must be explained. Failure to do so could result in your submission being given a 0. If you have any questions about how much work to show, please contact your instructor.

Assignments must be submitted as a Microsoft Word® document and uploaded to the Dropbox for Unit 3. Type all answers directly in this Assignment below the question it applies to.

All Assignments are due by Tuesday at 11:59 PM ET of the assigned Unit.

Data Sets and Graphs

(Questions 1 - 6 are worth 5 points each.)

1. Using your link for the national average of gas you found in Unit 1, state the average prices of gas for each month, for the last year that full data exists (for instance, if you are working this Assignment in October of 2013, you would use January 2012 - December 2012 as that is the last full year with data).

2. Find the mean of your data set in question 1.

3. Find the median of your data set in question 1.

4. Find the standard deviation of your data set in question 1. You may use Microsoft Excel to compute the standard deviation. Note: If you use Microsoft Excel to compute the standard deviation, show for your work the formula that you entered into Microsoft Excel, and then the answer Microsoft Excel gave you.

5. Create a histogram or bar graph of your data set in question 1. Post your graph below.

6. Find a circle graph or bar graph online and post the graph below, then state what the graph is supposed to convey. What is the purpose of the graph? Does it convey, in your opinion, its intended message? Why or why not?

Essay Question (15 points)

7. Statistics are often used in misleading ways. Using the internet, find an example of a statistic that you feel is misleading. Write an essay below where you state what the statistic is, what it is supposed to be measuring or representing, and why you think it is misleading. Is there a way to improve the statistic so that it is no longer misleading? Suggest some plausible ideas for improvement.

Requirements for essay

· Write your essay in this document – do not save it in a separate file.

· You must clearly state your position with well-structured paragraphs using proper grammar, spelling, and sentence structure.

· This is not an “opinion” question – you must offer evidence to support your position, using properly cited sources.

· Your answer must be between ¾-1 page in length.

· You must cite and reference at least one source (book, website, periodical) using APA format. The required website counts as one source.

You may submit your Assignments to the Math Center for review. Tutors will not grade or correct the Assignment, but they will provide guidance for improvement. Tutors will not, however, help you find web sites for the Assignment.

Be sure to submit Assignments early enough to receive feedback and make corrections before the Assignment due date (24 hour turn-around times Monday-Thursday and 48 hour turn-around times on weekends are typical).

Email Assignments to: kumc@kaplan.edu. Please put “MM255 Assignment Review” in the subject line of the message.