Statistics Course Project
Statistics Course Project
Introduction
Report is written by Nadiya Rylkova, student at Northeastern University . Intended audience is all students in section 4 of MGSC2301 Business Statustics course, professor Dimitrios Fotiadis, and ta Pratik Tembe. The objectives of the project are:
1. Use methods of descriptive statistics to summarize the data. Comment on the findings.
2. Develop estimated regression equations, first using annual income as the independent variable and then using household size as the independent variable.
3. Develop an estimated regression equation with annual income and household size as the independent variables.
4. Discuss the need for other independent variables that could be added to the model. Description of the project Consumer Research Inc., is an independent agency that conducts research on consumer attitudes and behaviors for a variety of firms. In one study, a client asked for an investigation of consumer characteristics that can be used to predict the amount charged by credit card users. Data were collected on annual income, household size, and annual credit card charges for a sample of 50 consumers. The data at the end of this document (consumer)are contained in the file consumer ( Chapter 15 of the book Statistics for business & Economics 11e, By Anderson, Sweeney and Williams) and is also provided on Bb.
Statistic
Std. Error
Income
Mean
43.48
2.058
99% Confidence Interval for Mean
Lower Bound
37.97
Upper Bound
48.99
5% Trimmed Mean
43.42
Median
42.00
Variance
211.724
Std. Deviation
14.551
Minimum
21
Maximum
67
Range
46
Interquartile Range
25
Skewness
.096
.337
Kurtosis
-1.248
.662
HouseholdSize
Mean
3.42
.246
99% Confidence Interval for Mean
Lower Bound
2.76
Upper Bound
4.08
5% Trimmed Mean
3.36
Median
3.00
Variance
3.024
Std. Deviation
1.739
Minimum
1
Maximum
7
Range
6
Interquartile Range
3
Skewness
.528
Introduction
Report is written by Nadiya Rylkova, student at Northeastern University . Intended audience is all students in section 4 of MGSC2301 Business Statustics course, professor Dimitrios Fotiadis, and ta Pratik Tembe. The objectives of the project are:
1. Use methods of descriptive statistics to summarize the data. Comment on the findings.
2. Develop estimated regression equations, first using annual income as the independent variable and then using household size as the independent variable.
3. Develop an estimated regression equation with annual income and household size as the independent variables.
4. Discuss the need for other independent variables that could be added to the model. Description of the project Consumer Research Inc., is an independent agency that conducts research on consumer attitudes and behaviors for a variety of firms. In one study, a client asked for an investigation of consumer characteristics that can be used to predict the amount charged by credit card users. Data were collected on annual income, household size, and annual credit card charges for a sample of 50 consumers. The data at the end of this document (consumer)are contained in the file consumer ( Chapter 15 of the book Statistics for business & Economics 11e, By Anderson, Sweeney and Williams) and is also provided on Bb.
Statistic
Std. Error
Income
Mean
43.48
2.058
99% Confidence Interval for Mean
Lower Bound
37.97
Upper Bound
48.99
5% Trimmed Mean
43.42
Median
42.00
Variance
211.724
Std. Deviation
14.551
Minimum
21
Maximum
67
Range
46
Interquartile Range
25
Skewness
.096
.337
Kurtosis
-1.248
.662
HouseholdSize
Mean
3.42
.246
99% Confidence Interval for Mean
Lower Bound
2.76
Upper Bound
4.08
5% Trimmed Mean
3.36
Median
3.00
Variance
3.024
Std. Deviation
1.739
Minimum
1
Maximum
7
Range
6
Interquartile Range
3
Skewness
.528