What does each of these values represent with respect to your sample? Compare the descriptive statistics you calculated to the population statistics reported. Were there differences? Why or why not? Do you think that the sample you picked was representative of the population? Explain your response.

statistics such as unemployment rates, stock market swings, or changes in the housing market

In the news, we are constantly bombarded by statistics such as unemployment rates, stock market swings, or changes in the housing market. A vast majority of the statistical information presented to us is in the form of descriptive statistics. In descriptive statistics, a sample is taken, and values such as mean, median, mode, standard deviation, and variance are determined. These values are used to compare to other samples or are used as a measure of the current state of a population. The use of descriptive statistics is a common practice in the decision-making process in many professional fields.
To decide whether you are going to buy a new car, you will use descriptive statistics in this project to help you make an educated decision. Think about the following example:

According to the manufacturer, the Brillton EX achieves 25 city and 35 highway miles per gallon (MPG). You are, however, dubious. You are able to locate information about the initial Brillton EX models that a consumer protection agency tested. The spreadsheet that follows contains this data. To access the Excel spreadsheet, click here.

There are multiple tabs in this spreadsheet:

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Samples: All of the many samples that were examined are included on this tab. These Brillton EX vehicles were chosen at random. On the highway and in the city, these vehicles’ MPG ratings were evaluated. Descriptive Statistics: The formulas on this page are used to determine the sample data’s mean, median, mode, standard deviation, and variance. Population: For the complete population of Brillton EX models, the mean, median, mode, standard deviation, and variance are listed on this tab. Instructions:

The Brillton EX spreadsheet may be downloaded. Select one of the data samples from the Samples tab. Fill out the Sample Data columns on the Descriptive Statistics page using the information from the sample you choose. As soon as you’re finished, the spreadsheet will automatically calculate the sample’s mean, median, mode, standard deviation, and variance. Note: The tab labeled “Example” will demonstrate how this should operate if done correctly. Please address the following in your report: Please report the sample name you chose. Give an account of your sample’s mean, median, mode, standard deviation, and variance. What do each of these numbers mean in terms of your sample? Compare the population data supplied with the descriptive statistics you calculated. Were there variations? If not, why not? Do you believe the sample you chose to study the population was representative of the whole? Describe your reaction. Do you believe that obtaining information to make an informed decision through the use of descriptive statistics is a trustworthy process? Do you agree with the manufacturer’s claim that the Brillton EX achieves 25 mpg in the city and 35 mpg on the highway based on your analysis? If not, why not? In a 1-3 page Word document, turn in a summary of your answers to the aforementioned questions for this project. Cite sources in accordance with APA guidelines. LastnameFirstInitial_M2_A2.doc should be the name of your Word document. By Wednesday, January 25, 2017, upload it to the M2: Assignment 2 Dropbox.

 

 

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