Access over 20 million homework & study documents

search

MTalley Deliverable1WorkSheet 100619 docx

Content type
User Generated
Rating
Showing Page:
1/4
Deliverable 01 Worksheet
1. Introduce your scenario and data set.
o Provide a brief overview of the scenario you are given and describe the data set.
o Describe how you will be analyzing the data set.
o Classify the variables in your data set.
Which variables are quantitative/qualitative?
If it is a quantitative variable, is it discrete or continuous?
Describe the level of measurement for each variable included in the data set
(nominal, ordinal, interval, ratio).
Answer and Explanation:
1. A major client of my company is interested in the salary distributions of
jobs in the state of Minnesota that range from $30,000 to $200,000 per
year. As a Business Analyst, my boss asks me to research and analyze
the salary distributions. I’m given a spreadsheet that contains a listing of
jobs by title and the salary (in dollars) for each job. The client needs the
preliminary findings by the end of the day, and my boss asks me to
compute some basic statistics.
2. I will be analyzing the data using statistical analysis of the variables
present in the data and determine the level of measurement for each
variable, the measures of center, and the measures of variation. I will also
be utilizing excel formulas.
3. There are two variables in the data: Job Title and Salary
a. Job Title is a qualitative variable.
b. Salary is a quantitative variable that is discrete and ordinal.

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/4
2. Discuss the importance of the Measures of Center.
o Name and describe each measure of center.
o Discuss the advantages and/or disadvantages of each.
Answer and Explanation:
3. Discuss the importance of the Measures of Variation.
o Name and describe each measure of variation.
o Discuss the advantages and/or disadvantages of each.
Answer and Explanation:
1. Mean commonly known as the average. To calculate the mean, you add
all of the data together and divide by the number of data. Advantages: Its
concept is familiar to most people. Every data set has one and only one
mean. It is useful for comparison. Disadvantages: It is affected by extreme
values. It is tedious to calculate for large data. It cannot be calculated for
grouped data with open-ended classes.
2. Median the data value that lies in the middle of the data when arranges in
ascending (or descending) order. Advantages: It is unaffected by extreme values.
Disadvantages: It does not contain information on the other values of the
distribution. Only selected by its rank. The median is less worthwhile to statistical
tests.
3. Mode the data value that occurs the most. Advantages: Quick and easy to
determine. Is an actual value of the data. Not affected by extreme scores.
Disadvantages: Sometimes not very informative. Can change dramatically from
sample to sample. Might be more than one mode in a data set.
4. Mid-Range the value midway between the maximum and minimum data values.
Advantages: Easy to compute. Gives the midpoint. Disadvantages: It is affected by
extreme value. It is rarely used in statistical computations.

Sign up to view the full document!

lock_open Sign Up
Showing Page:
3/4

Sign up to view the full document!

lock_open Sign Up
End of Preview - Want to read all 4 pages?
Access Now
Unformatted Attachment Preview
Deliverable 01 Worksheet 1. Introduce your scenario and data set. o Provide a brief overview of the scenario you are given and describe the data set. o Describe how you will be analyzing the data set. o Classify the variables in your data set. ▪ Which variables are quantitative/qualitative? ▪ If it is a quantitative variable, is it discrete or continuous? ▪ Describe the level of measurement for each variable included in the data set (nominal, ordinal, interval, ratio). Answer and Explanation: 1. A major client of my company is interested in the salary distributions of jobs in the state of Minnesota that range from $30,000 to $200,000 per year. As a Business Analyst, my boss asks me to research and analyze the salary distributions. I’m given a spreadsheet that contains a listing of jobs by title and the salary (in dollars) for each job. The client needs the preliminary findings by the end of the day, and my boss asks me to compute some basic statistics. 2. I will be analyzing the data using statistical analysis of the variables present in the data and determine the level of measurement for each variable, the measures of center, and the measures of variation. I will also be u ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
Really helpful material, saved me a great deal of time.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4