asap math statistics need it about 1-2 hours

Lab 3: Scatter Plots

Please submit your completed lab on Blackboard.

Part 1: More with Assessing Normality

Billionaires (data file is on Blackboard-Data-billionaires.txt)

With the usual definition of normal, being a billionaire is not at all normal. If we examine the (relatively) small subset of the world’s population, which includes the world’s billionaires from 1992, some of the demographics may have some Normality to them. Here you will examine the distributions for these demographics. Fortune magazine reported the following demographics for the billionaires: wealth (in billions), age (*=unknown), the region where they are from (Asia, Europe, Middle East, United States, or Other).

1. Begin by examining the distribution of each variable. Give a brief description of the overall pattern of each distribution below (For quantitative variables you need to discuss shape, center, and spread. For categorical variables you need to discuss percentages.)

· Wealth-

· Age-

· Region-

2. To get a complete look of how well the distribution of the billionaires’ ages fit with the standard normal distribution look at the Normal quantile plot (Graphics-QQ plot). Include the plot below.

3. What conclusions can you make about the distribution of the billionaires’ ages based on the plot in #2 and why? Keep in mind that the horizontal axis corresponds to Z.

4. Also, how do your conclusions relate to what we have discussed about the correlation, r? Please include an estimation of what type of value you think that r would have.

5. There are three very obvious outliers that do not fit with the pattern that the rest of the data follows. Identify the ages of the outliers. Explain why they appear as outliers in the quantile plot by looking back at the distribution of ages. Also explain why, logically, it makes sense for these individuals to be outliers.

Part 2-More with Scatter Plots (data file is on Blackboard: fuel oil-Bahrain)