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Descriptive Statistics in Excel

The managers with whom you met for coffee have asked you to prepare a report dealing with members of Congress. They asked you to research a random sample of 30 of the 100 senators about the following data groups:
â?¢ Age
â?¢ Years in the Senate
â?¢ Party affiliation
â?¢ Which ones vote favorably on legislation affecting your industry ("Y" or "YES") versus those voting unfavorably ("N" or "NO")
â?¢ The income of each senator
Download the DATA.
The managers also want you to answer the following information using various Excel statistical tools:
â?¢ What are the mean age, income, and number of years in the Senate?
â?¢ What is the standard deviation of the income, and how would you interpret this?
â?¢ How many senators make up the group with the least number of years in the Senate?
â?¢ Voting preferences and party affiliation are not data that can be averaged because they are not numeric.
o What is this kind of data called, and how could it be grouped for statistical analysis methods?
â?¢ Is picking 30 senators randomly a good way to reach conclusions?
o Must all 100 be assessed?
o Why or why not?


Solution Summary

Step by step method for computing Descriptive Statistics in Excel is given in the answer.