Descriptive Statistics Data Analysis

Descriptive Statistics Data Analysis

The data set evaluated in the current report represents the annual household income for twenty households within a specific neighborhood. In this paper, I will present the results of completing a descriptive analysis of the data in Microsoft Excel. Upon completing the analysis of the provided data set, I will evaluate the various measures of central tendency and identify the mean household income, the median household income, and the mode household income. Additionally, this paper will provide a calculation of the interquartile range while offering the values of the first and third quartiles. Lastly, the paper will explain which of the various descriptive statistics will best summarize the data set and why.

After completing the descriptive analysis in Excel, the following results were obtained:

Household Income
Mean	31.85
Standard Error	4.460514
Median	26
Mode	25
Standard Deviation	19.94802
Sample Variance	397.9237
Kurtosis	7.846936
Skewness	2.891544
Range	81
Minimum	18
Maximum	99
Sum	637
Count	20

Some of the main measures of central tendency include the median, mode, and mean, which are often used to describe a given data set. The mode refers to the frequently appearing value in a given group of values (Gupta et al., 2019). From the results above, the mode household income (in thousands) is 25. Median refers to the middlemost number in a given set of data sorted from the smallest to the largest. The results of the descriptive analysis reveal that the median household income (in thousands) is 26. Lastly, the mean refers to the average of all values of a given set of numbers (Gupta et al., 2019). The mean household income (in thousands) from the above results is 31.85. The most suitable measure of central tendency given the data set will be the median. This measure of central tendency has been selected because it is not affected by outliers (Hartwig et al., 2020).

References

Gupta, A., Mishra, P., Pandey, C., Singh, U., Sahu, C., & Keshri, A. (2019). Descriptive Statistics and Normality Tests for Statistical Data. Annals of Cardiac Anaesthesia, 22(1), 67. https://doi.org/10.4103/aca.aca_157_18

Hartwig, F. P., Davey Smith, G., Schmidt, A. F., Sterne, J. A. C., Higgins, J. P. T., & Bowden, J. (2020). The median and the mode are robust meta‐analysis estimators in the presence of small‐study effects and outliers. Research Synthesis Methods, 11(3), 397–412. https://doi.org/10.1002/jrsm.1402

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Descriptive Statistics Data Analysis
[WLOs: 1, 3] [CLOs: 2, 3, 5]
Prior to beginning work on this assignment, review Chapter 1 and Chapter 2 in your course textbook, Chapter 3 in the Jarman (2013) e-book, the Week 1 Instructor Guidance, and review the Describing DataLinks to an external site. Video and the Khan Academy video on Interquartile Range (IQR)Links to an external site.. Also, complete the Week 1 learning activity and Week 1 weekly review.

W1.A.Mean Median Mode.png

This exercise requires the use of a descriptive statistics calculator. You can find this tool in some versions of Excel (as part of the Analysis ToolPak) or you can use one of the many free online descriptive calculators such as the Descriptive Statistics CalculatorLinks to an external site. By Furey (n.d.).

Your instructor will post an announcement with the data set for your Week 1 assignment.

First, use either Excel or the Furey (n.d.) descriptive statistics calculator to calculate the descriptive statistics for the given data set. This is explained in Chapter 1 of your course text.

You should get an output similar to the image in Figure 1.3 from your textbook. This output must contain the following values: mean, standard error, median, mode, standard deviation, sample variance, kurtosis, skewness, range, minimum, maximum, sum, and count.

Next, begin writing your paper by reporting your results for each of the values listed above.

Include the data set, the output from the analysis, and the answers to the following questions:

Evaluate the measures of central tendency. Address the following when completing this component:
Which measure of central tendency is most appropriate based on the data type?
Are the mean, median, and mode close to the same value? If not, what does this tell you about the numbers in the set?
Identify any mode(s) in the data set. Is there a mode at all? Is there more than one mode?
Calculate manually the interquartile range and the values of Q1 and Q3. (It is important to calculate this manually because the interquartile range and quartiles output from Calculator Soup might not be accurate.) Address the following when completing this component:
Test to see if there are any outliers in the set. If so, which number(s)?
Which method from Section 2.4 of the text did you first use to check for outliers?
Now try the other method from Section 2.4 of the text. Do you come to the same conclusion about outliers in the data set?
Explain which descriptive statistic you think best summarizes this set of numbers and why.
Choose three of the descriptive statistics that you feel best represent this data set. Why were they chosen?
The Descriptive Statistics Data Analysis assignment

Must be two to three double-spaced pages in length (not including title and references pages) and formatted according to APA Style as outlined in the Writing Center’s APA StyleLinks to an external site. Resource.
Must include a separate title page with the following:
Title of paper
Student’s name
University Name
Course name and number
Instructor’s name
Date due
For further assistance with the formatting and the title page, refer to APA Formatting for Microsoft WordLinks to an external site.

Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear statement that indicates the purpose of your paper: to report and explain your analysis of the data set.
For assistance in writing Introductions & ConclusionsLinks to an external site. Refer to the Writing Center resources.
You must use the course text and Excel or the Descriptive Statistics CalculatorLinks to an external site.
Must document any information used from sources in APA Style as outlined in the Writing Center’s APA: Citing Within Your PaperLinks to an external site. Guide.
Must include a separate references page that is formatted according to APA Style as outlined in the Writing Center. See the APA: Formatting Your References ListLinks to an external site. Resource in the Writing Center for specifications.

Carefully review the Grading RubricLinks to an external site. For the criteria that will be used to evaluate your assignment.