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Statistics Project

I have no idea how to work confidence intervals and apply the hypothesis tests. Help would be greatly appreciated. I need help creating a question and applying the data to it. Any of the data sheets posted can be used. Thank you!

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See attached files.

This may be a work-related problem, or some other problem that interests you. Be creative, have some fun, and make it relevant. You may choose to complete both Application Mini Projects on the same dataset. Alternatively, you may use different datasets for each. Your deliverable for this project is a Microsoft Word 2010 document of text and data and graphics in length. (You may "mix and match" as you see fit.) (See details below.) You will also submit your Excel spreadsheet. However, you will only be graded on the Word document, so be sure that you include all relevant information in your Word doc.

In this project take the perspective of someone trying to "tell a story" from a dataset. What conclusions can you draw from your analysis? Create a compelling story regarding your dataset.

For this project, you are required to apply the following tools:

* Descriptive Statistics: Use and report appropriate Descriptive Statistics to describe your data set.

* Charts: Histogram, or, Scatterplot, or Time Series (At least one descriptive chart is required. It is OK to
provide more. Only include those charts that help to "tell the story."

* Discuss whether your data are normally distributed or not. How do you know? Does it matter?

* Analysis: Complete a Hypothesis Test on your data set. Include:

* Confidence Interval : Construct and defend at least two confidence intervals for your data. This
may be a confidence interval for a mean, total, proportion, standard deviation, difference between
means, or difference between proportions. Your data may represent independent samples or paired
samples. You should expect to create a CI for the two populations which you intend to be part of
your Hypothesis Test.
_ Describe briefly how you created your confidence interval
_ Specify relevant numbers (point estimate, t-multiple, standard error, ...)
_ Interpret you intervals. Discuss what the implication(s) may be on your subsequent
Hypothesis Test.

* AND... Hypothesis Test:
_ Construct at least one hypothesis test for your data set
_ Construct and formally state H0 and Ha
_ State your p-value and defend your choice
_ Complete your hypothesis test reporting key parameters (t-value, ...)
_ Interpret your test results

A typical outline for your paper is:

Introduction: What is the problem being analyzed? What data is used and where does it come from? (Cite your source.) What conclusion(s) do you expect to create?

Descriptive Statistics and Charts: What is your summary of the data being presented? Which of the
statistics you are presenting is most interesting and why? How do you interpret the charts you present?

Analysis: What did learn from your analysis of your dataset? What conclusions can you draw? How do you justify your conclusions?

Conclusion: Wrap it up - tell me what you told me in a succinct manner.

Suggestions: What problems exist in this analysis? How could the data set or analysis be improved?

Possible data sheets that can be used:

http://www.mva.maryland.gov/About-MVA/statistics/10sum.htm

as well as the attached excel files.

Attachments

Solution Preview

See attached files.

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In this project take the perspective of someone trying to "tell a story" from a dataset. What conclusions can you draw from your analysis? Create a compelling story regarding your dataset.
For this project, you are required to apply the following tools:

�Descriptive Statistics: Use and report appropriate Descriptive Statistics to describe your data set.

I used the unemployment rate statistics in the Excel file. Since the data is organized by years, I thought we could look at whether or not there has been a change in the unemployment rate over time.

I found the mean monthly unemployment rate and the standard deviation for each year (2001 - 2010).

Average monthly unemployment rate Standard Deviation
2001 4.7 0.528
2002 5.8 0.103
2003 6.0 0.178
2004 5.5 0.131
2005 5.1 0.159
2006 4.6 0.131
2007 4.6 0.164
2008 5.8 0.814
2009 9.3 0.736
2010 9.6 0.123

�Charts: Histogram, or, Scatterplot, or Time Series (At least one descriptive chart is required. It is OK to provide more. Only include those charts that help to "tell the story."

I think a time series would be the most appropriate chart.

It looks as if the unemployment rate was relatively constant until 2007, when it started increasing.

�Discuss whether your data are normally distributed or not. How do you know? Does it matter?

I used the means calculated for question 1 and made a histogram:

It doesn't look normally distributed (bell-shaped), but it's hard to tell because there are so few data points. It doesn't matter if it's not normal - we're going to divide the data in two for the ...

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