BA 240 Project Part II: Individual Report

BA 240ProjectPart II: Individual Report (90 Points)Each team member chooses one of the four variables (either dependent or independent). Use EXCEL to complete a descriptive statistical analysis on the selected variable, and complete the Individual report in a WORD document. 1. Each team member chooses ONE variable. Note: No two team members may choose the same variable.2. Using Excel Data Analysis tools to generate descriptive statistics for the chosen variable. Attach the Original Excel Output and use different colors to highlight the measurements of central tendency, variability, and five-number summary.3. Using Excels Frequency Method to generate a Frequency Histogram for the chosen variable (as shown in the Excel demo). Show the mean, median and mode on the histogram. Describe the shape of the distribution.4. Calculate the intervals of mean plus/minus one/two/three standard deviations, and show the intervals on the histogram. Note: you should calculate three intervals and mark six lines on the histogram.5. Calculate z-scores of the five-number summary.6. Use PROPER method to detect if there is any outlier. Identify and list both Normal and Extreme outliers.7. Generate 3 random samples of 20 each. Show Original Excel output.8. Generate 3 random samples of 50 each. Show Original Excel output.9. Create ONE table which compares the means and standard deviations of your samples to the mean and standard deviation of the whole population. Were the larger or smaller samples closer to the true mean and true standard deviation?Discuss what factors influenced how close the sample mean was to the population mean, and how this relates to the Central limit Theorem.10. Calculate the z-scores of your sample means. Note: make sure you pick the correct formula. Remember you have the population mean and standard deviation, in which you SHOULD use them.11. Write down a short paragraph including: 1) Summary of your findings, 2) What have you learned from this project, and 3) Any difficulties/comments you have. 12. Attach the sorted data (sort in small large order)Tips and Notes1) If you use Excel 2007 or later, then watch the Excel 2007 Demo Part 1 to Part 5.2) There is a SAMPLE individual report posted under Modules –> Project Part 2.Note: The sample individual report is NOT the solution or the answer key!!! It only serves as SAMPLE purpose. As the project changes every quarter, be sure you follow the instructions on the Project description.3) Notes on Missing Value: Sometimes missing values are not represented by BLANKspace, they could be "99", "999", "*", "-" etc. You must DELTE them before running any analysis. Be sure you read the data set description carefully.4) Notes on Problem # 3: There is no "right" or "wrong" in creating histograms, just "good" or "bad" 🙂 There are no fixed rules, but there are some guidelines: a) We’d like the histogram to be informative — capture the data information effectively. b)We’d like the interval width to be in "common sense" numbers. i.e., if our variable is Exam Scores, and it is out of 100. When creating the intervals, we don’t want the interval width to be 7, or 8, instead, 5 or 10 would make better sense. c) Usually we want to avoid creating too few bins (<5) or too many bins (>20). Since all of your data are RAW DATA, it is very common if your histogram looks "ugly" For "show on the graph" part, you may either "insert" line from Word or use other software applications (Paint, Photoshop, etc) to "insert" lines, or you mayalso print out the histogram, hand-draw the lines (must be NEAT and CLEAR!), take a picture or scan the histogram, then insert it back to the Word document.5) Notes on Problem #6: Recall we learned TWO methods to detect outliers in Chapter 2, and they are for different kinds of datasets!! Depends on YOUR data, you should choose the APPROPRIATE (correct) method.6) Notes on Problem #10: The Excel Demo only shows the idea of how to enter functions in the cells; it does not mean the formula used in the demo is correct! BE SURE you choose the CORRECT formula!!7) Please keep in mind: you MUST use Excel to complete descriptive analysis of this project, and be sure to copy all the Excel outputs into a Word document. The word document must be a complete report, including ALL required output and answers to questions (see Sample Individual Report for details). The submissionof the individual report includes BOTH of your Word Document and your Excel Workbook. Missing either part will result 50% of penalty. See assignment instruction for details.