Econ 301 Describing Data

PART I Describing Data: Graphical (Data files are on Blackboard) 1.Jon Payne, tennis coach, kept a record of the most serious type of errors made by each of his players during a 1-week training camp. The data are stored in the data file Tennis. a. Construct a Pareto diagram of total errors committed by all players. b. Construct a Pareto diagram of total errors committed by male players. c. Construct a Pareto diagram of total errors committed by female players. d. Construct a stacked bar chart showing type of error and gender of the player. 2. The data file Housing Starts shows private housing units started per thousand persons in the U.S. population over a period of 24 years. Describe the data with a graph (Hint: which graph is best for the data). 3. Sales revenue totals (in dollars) by day of the week are contained in the data file Stordata. Prepare a cross table that contains the days of the week as rows and the four sales quartile intervals as columns. a. Compute the row percentages. b. What are the major differences in sales level by day of the week as indicated by the row percentages? c. Describe the expected sales volume patterns over the week based on this table. 4. Bishop’s supermarket records the actual price for consumer food products and the weekly quantities sold. Use the data file Bishop to obtain the scatter plot for the actual price of a gallon of orange juice and the weekly quantities sold at that price. Does the scatter plot follow the pattern from economic theory? 

 PART II Statistics (Data files are on Blackboard) 1. The data file Sun contains the volumes for a random sample of 100 bottles (237 mL) of a new suntan lotion. a. Find and interpret the mean volume. b. Determine the median volume. c. Are the data symmetric or skewed? Explain. d. Find the five-number summary for this data. 2. The president of Floor Coverings Unlimited wants information concerning the relationship between retail experience (years) and weekly sales (in hundreds of dollars). He obtained the following random sample on experience and weekly sales: (2, 5) (4, 10) (3, 8) (6, 18) (3, 6) (5, 15) (6, 20) (2, 4) The first number for each observation is years of experience, and the second number is weekly sales. Compute the covariance and the correlation coefficient (using a computer if you prefer). 

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>