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Variables in a Data Set: Unleaded Regular Gas Prices

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Select a variable and from a data base and create a data set of at least 20 values. For example, if the database contained information on weather, you might have a data set of the average temperature in Portland for 20 months. Again, the more relevant it is to your area of interest, the better.

At first glance, what patterns do you see?
What level of measurement is used?
Create a frequency distribution.
Using Excel, graphically display that distribution with appropriate title and labels.
Calculate the appropriate measure of central tendency.
Create a short description or PowerPoint slide (using notes, if necessary) of your findings

Data obtained from: http://www.census.gov/compendia/statab/cats/prices/fuel_prices.html.

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Solution Summary

Variables in unleaded regular gas price data sets are examined.

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See two attached excel spreadsheets. The first file is the requested analysis, the second file is the raw data downloaded from the government site.

A) From this chart, at first glance, we can see that the general trand of unleaded regular gasoline prices over time is upward with a ...

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Robert Reinhart, MBA
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  • MBA, Merage School of Business, Univ of Cal, Irvine
  • BA, Univ of Cal, Irvine
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