Math 533 Course Project Part B

Topics: Arithmetic mean, Standard deviation, Household income in the United States Pages: 6 (1471 words) Published: August 21, 2013
AJ DAVIS
AJ DAVIS

MATH 533
Project Consumer
Tel – 123-456-7891
July 21st 2013
MATH 533
Project Consumer
Tel – 123-456-7891
July 21st 2013
Lakshan Nanayakkara
AJ DAVIS is a department store chain, which has many credit customers. A sample of 50 credit customers is selected with data collected on location, income, credit balance, number of people and years lived in the house

Lakshan Nanayakkara
AJ DAVIS is a department store chain, which has many credit customers. A sample of 50 credit customers is selected with data collected on location, income, credit balance, number of people and years lived in the house

Contents
A.Brief Introduction:2
B.1st individual variable, using graphical, numerical summary and interpretation3
a)Income3
C.2nd individual variable, using graphical, numerical summary and interpretation4
a)Credit Balance4
D.3rd individual variable, using graphical, numerical summary and interpretation5
a)Size5
E.1st pairing of variables, using graphical, numerical summary and interpretation6
a)Income and Location Pairing.6
F.2nd Pairing of variable, using graphical, numerical summary and interpretation7
a)Credit Balance and Income pairing.7
G.3rd Pairing of variable, using graphical, numerical summary and interpretation8
a)Credit balance and Size pairing8
H.Conclusion:9

A. Brief Introduction:
AJ DAVIS is a department store chain, which has many credit customers and wants to find out more information about these consumers. A sample of 50 credit customers were selected for the data collection on five variables such as location, income, size, years, and credit balance. In order to understand more about their customers, AJ DAVIS should analyze the data set. By understanding important data using graphical and numerical methods, AJ DAVIS will be able to better strategize their business. LOCATION (Rural, Urban, Suburban)

INCOME (in $1,000's)
SIZE (Household Size, meaning number of people living in the household) YEARS (the number of years that the customer has lived in the current location) CREDIT BALANCE (the customers current credit card balance on the store's credit card, in $)

B. 1st individual variable, using graphical, numerical summary and interpretation a) Income

Total
Variable Count Mean SE Mean StDev Minimum Q1 Median Q3 INCOME($1000) 50 43.58 2.05 14.53 21.00 30.00 42.00 55.00

Variable Maximum Range
INCOME($1000) 67.00 46.00

A histogram shows the distribution of data within the Income in $1000’s. In this Histogram graph of Income, it shows that the average income is about 43,580.00 Dollars. There are 10 measurement classes in this histogram with a maximum income of $ 6,7000.00 and a minimum income of $ 21000.00 Given the range, the Data can be considered symmetric due to Median is close to Mean. (Median is 42 and Mean is 43.58).

C. 2nd individual variable, using graphical, numerical summary and interpretation b) Credit Balance

Total
Variable Count Mean SE Mean StDev Minimum Q1 Median Q3 CREDIT BALANCE($) 50 3966 132 936 1864 3109 4048 4778

Variable Maximum Range
CREDIT BALANCE($) 5678 3814
The boxplot above shows the distribution of the credit balances on the store credit card by chosen 50 consumers. This is a normal distribution plot with the main shaded area of the plot in the middle of the plot area. There are no outliers per this graph. Edge of the bottom vertical line is the minimum. 1st horizontal line represents the 1st quartile, 2nd horizontal line is 2nd quartile which is the median and 3rd line is the 3rd quartile. Top edge of the vertical line is the maximum. This is considered a symmetric data set since considering the range 3814; the median is close to mean (4048-3966=82). On average and majority of...
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