Data:
The goal of the project assignments is to allow you to get hands-on experience
analyzing and interpreting data using the techniques we learn throughout the semester.
To facilitate this, I have limited you to the type of data that you are allowed to collect. I
have listed below three possible sources of data. Choose any of the three to use for
your project.
Automobile Data – collect data from 25 used automobiles from each of three comparable car
brands (cars in the same automobile class). The variables that you will enter will be Asking
Price, Mileage of the vehicle, and the Model of the Car (enter the model as either 1, 2, or 3).
Your data set should consist of a total of 75 cases with three variables. Sources: internet sites
such as craigslist, newspaper, auto trader magazines.
To collect the data about the automobile you should search for cars in craigslist website in the
US www.craigslist.org
1. Toyota Camry
2. Honda Accord
3. Hyundai Sonata
It doesn’t matter the year of the car. The needed information are the asking price, mileage
and model as it was stated above. You can just list all of them in three columns under each
other until it reaches 75 using Excel and then use the date in the Statistix program or similar
one.
Ideally, you would take a random sample from the population that you are working with.
For the project assignments, it is more important to get your data collected quickly, so I
will not worry about the randomness of your data. For clarity, your data set should
consist of a total of 75 observations (3 locations/models each with 25 observations) with
three variables each.
This data set will be used for you on all four project assignments (called Project 1,
Project 2, Project 3 and Project 4). More details will follow regarding the specifics of
what will be required of you on the projects as well as demonstrations on how to create
the printouts that you will need using the Statistix software.
For project purposes, I will refer to the variables collected using the following
symbols:
y = price variable (rent or price)
x1 = size or mileage variable (depending on data set)
x2 = location or model variable (depending on data set)
QMB 3200
Project 1
NAME _________________________
Summer 2018
Directions:
4.
1.
Choose one of the data sets assigned in Canvas and enter the data into a
Statistix data file.
2.
Use the Statistix program to create the printouts requested in this project.
3.
Attach the requested printouts to the project as I have directed and answer
the questions that I have asked in the space provided.
Upload this project in Canvas prior to midnight on July 2nd.
1.
Create a printout that provides a listing of the data that you entered into Statistix. It should show
the 75 cases that you entered and contain three columns of data. Label this printout as DATA
PRINTOUT and attach it to the back of this project.
a.
Describe for me the quantitative variables you collected in your data set: (4 points)
QN #1:
QN #2:
b.
Identify for me what/where the levels 1, 2, and 3 of your qualitative variable represent.
(3 points)
Level 1:
Level 2:
Level 3:
c.
Identify the experimental unit for your data set. (2 points)
d.
Create a stem-and-leaf
display of your price
variable. Label this printout
as Stem-and-Leaf
PRINTOUT and attach it
here. Describe the shape of
the prices you observe in
the plot. (3 points)
Attach printout here using a 10-pt font
2.
Use Statistix to create the descriptive statistics for
the two quantitative variables that you collected
data for. Make sure to include the n, minimum and
maximum values, mean, median, standard
deviation, and the confidence interval endpoints
for a 92% confidence interval. Paste the printout in
the space provided here and answer the following
questions.
Descriptive Statistics printout
a.
For your Price variable, interpret the standard deviation by giving me a range in which you
think “most” of the values (i.e., the x’s) will fall. (Hint: you may need to do some math
here) (3 points)
b.
Find the 92% confidence interval for estimating the mean mileage or size of your data
set (2 points)
c.
Give a practical interpretation for the interval specified in part b. (4 points)
d.
Explain what you mean when you say that you are “92% confident” in the practical
interpretation above in part c. (2 points)
e.
What assumption(s) is/are necessary for this analysis to be valid? Make sure you state your
answer in the words of the problem (4 points)
3.
TESTS OF HYPOTHESIS: Use Statistix to create a printout to conduct the appropriate test for
the data set you worked with: Use only model/location 1 in this analysis.
Apartment Data Set: Test to determine if the average size differed from 700 square feet.
Automobile Data Set: Test to determine if the average mileage differed from 30,000 miles.
Home Data Set: Test to determine if the average size of the home differed from 1,800 square feet.
Copy the results here and answer the following questions.
One-Sample T Test printout
a.
State the null and alternative hypotheses that are being tested with the specified test.
(3 points)
Ho:
Ha:
b.
Identify the test statistic and p-value you will use in this test of hypothesis (2 points)
Test Statistic: ____________
P-value: ___________
c.
What assumption(s) is/are necessary for this analysis to be valid? Make sure you state your
answer in the words of the problem (4 points)
c.
Make a conclusion for the test of hypothesis conducted above. You should choose .
(4 points)
7/2/2018
Project 1 - Due July 2
Criteria
Quantitative Variables
Must have 2
Qualitative Variable
Accurately Defined and Stated
Experimental Unit
Ratings
Pts
4.0 pts
Full
Marks
2.0 pts
Missing one
0.0 pts
Missing Both Variables
Missing a variable or did
not define variable
correctly
Missing both variables or
did not define variable
correctly
3.0 pts
Full
Marks
2.0 pts
Missing
Level
2.0 pts
Full Marks
1.0 pts
Missing
Levels
0.0 pts
Missing All
Levels
1.0 pts
Inaccurately Defined Exp. Unit
Must have the correct printout, and
describe the shape of the distribution
correctly
Standard Deviation
Correct Calculation using either Chebyshev
or modified Empirical depending on
distribution of Steam and leaf plot
Confidence Interval
3.0 pts
Full
Marks
2.0 pts
Incorrectly Described
Shape of Distribution
3.0 pts
Full
Marks
2.0 pts
Wrong use of measurement
2.0 pts
Full Marks
2.0 pts
Printout
Error
2.0 pts
0.0 pts
Printout Error
& Description
3.0 pts
1.0 pts
Did not
multiply
SD
Did not correctly select the
appropriate measure of
calculation
1.0 pts
One correct endpoint
0.0 pts
No
Marks
0.0 pts
Incorrect Endpoints
Correct Endpoints
Confidence Interval Interpretation
We are 92% confidence that mean
mileage/size of all automobiles/homes/apts
falls between # and #
4.0 pts
Full
Marks
3.0 pts
Missing
one
piece
2.0 pts
Missing 2
pieces/Words
of the
Problem
1.0 pts
Missing
Multiple
pieces
Is missing
information
or did not
state the
answer in the
words of the
problem
Theoretical Interpretation
In repeated sampling 92% of the intervals
created would contain mu.
Assumptions 1
2.0 pts
Full
Marks
1.0 pts
Incorrect
Interpretation
Did not correctly use
the theoretical
interpretation.
4.0 pts
Full Marks
https://usflearn.instructure.com/courses/1281532/assignments/5960759?module_item_id=11957471
3.0 pts
2.0 pts
0.0 pts
Incorrect
Interpretation
Did not have
an accurate
understanding
of the
interpretation
concept
1.0 pts
Intervals
containing true
population mean
2.0 pts
Use of normal assumption
3.0 pts
0.0 pts
No Marks
Correctly identified the experimental unit
Steam-and-Leaf Plot
4.0 pts
0.0 pts
No
Marks
0.0 pts
No Marks
4.0 pts
2.0 pts
4.0 pts
3/4
7/2/2018
Project 1 - Due July 2
Criteria
Null and Alternative
Correct use of mu, differs from, inequality
symbols, and numerical value to test
T-Stat and P-value
Ratings
3.0 pts
Full
Marks
2.0 pts
Missing one
piece
2.0 pts
Full Marks
Pts
1.0 pts
Missing multiple
pieces
1.0 pts
Missing Information
0.0 pts
No
Marks
0.0 pts
No Marks
Correct identification of p-value and t-stat
Assumptions 2
Correct use of assumptions in the words of
the problems
Test of Hypothesis conclusion
At α= #, we (fail to) reject Ho. There is
(in)sufficient evidence to indicate that the
mean mileage/size of all [model/location 1]
homes/apt/cars differs from # unit of
measurement.
4.0 pts
Full
Marks
2.0 pts
Missing information/Words of the problem
4.0 pts
Full
Marks
3.0 pts
Missing
1 piece
Is missing information or did not state
correctly in the words of the problem.
2.0 pts
Missing 2
pieces/Words of the
Problem
Is missing
information or did
not correctly use the
words of the
problem
1.0 pts
Missing
Multiple
pieces
0.0 pts
No
marks
3.0 pts
2.0 pts
4.0 pts
0.0 pts
No
Marks
4.0 pts
Total Points: 40.0
https://usflearn.instructure.com/courses/1281532/assignments/5960759?module_item_id=11957471
4/4
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