• For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization
Aniah84
hw_part_a_requirements.docx1. LOCATION (Rural, Urban, Suburban)
2. INCOME (in $1,000's – be careful with this)
3. SIZE (Household Size, meaning number of people living in the household)
4. YEARS (the number of years that the customer has lived in the current location)
5. CREDIT BALANCE (the customers current credit card balance on the store's credit card, in $).
· For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, and measures of dispersion for the above data. Where appropriate use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean.
· Analyze the connections or relationships between the variables. There are ten pairings here (Use graphical as well as numerical summary measures. Explain what you see. Be sure to consider all 10 pairings. Some variables show clear relationships, while others do not.
1. Location and Income,
2. Location and Size,
3. Location and Years,
4. Location and Credit Balance,
5. income and Size,
6. Income and Years,
7. Income and Balance,
8. Size and Years,
9. Size and Credit Balance, Years and
10. Credit Balance).
· Prepare your report in Microsoft Word (or some other word processing package), integrating your graphs and tables with text explanations and interpretations. Be sure that you have graphical and numerical back up for your explanations and interpretations. Be selective in what you include in the report. I'm not looking for a 20 page report on every variable and every possible relationship (that's 15 things to do). Rather what I want you do is to highlight what you see for three individual variables (no more than 1 graph for each, one or two measures of central tendency and variability (as appropriate), and two or three sentences of interpretation). For the 10 pairings, identify and report only on three of the pairings, again using graphical and numerical summary (as appropriate), with interpretations. Please note that at least one of your pairings must include Location and at least one of your pairings must not include Location.
