Descriptive statistics data analysis plan using a household scenario

This is an assignment that focuses on the Descriptive statistics data analysis plan using a household scenario. The paper provides steps to use during the plan.

Descriptive statistics data analysis plan using a household scenario

Prepare Descriptive Statistics Data Analysis Plan. Before conducting any statistical analyses, researchers develop a plan for how they will analyze their data to answer their research questions. The purpose of this assignment is to provide an experience developing a descriptive statistics analysis plan. Note: This first assignment is a plan only; no statistics will be calculated or graphs created. The second assignment will involve carrying out the plan, after receiving feedback from your instructor.

Assignment Steps:

Step #1: Firstly, review the STAT200 data set file.The data is a subsample from the US Department of Labor’s Consumer Expenditure Surveys (CE) and provides information about the composition of households and their annual expenditures (https://www.bls.gov/cex/).

Step #2: Secondly, develop descriptive statistics data analysis plan. ➢ Task 1: Develop scenario. Imagine that you are head of a household and have to determine a household budget plan based on the data available from the dataset. For instance, you are a 35 year old single parent with a high school diploma and one child. ➢ Task 2: Select variables for analysis that match the scenario developed in Task 1.The data set provides information on household consumption; there are socioeconomic variables and expenditures variables. The socioeconomic variable names start with “SE-” and the expenditure variable names start with a “USD;” all expenditures are in US dollars.

Additionally, all students must use income as one variable. Select two additional socioeconomic variables (one qualitative and one quantitative). Also, two expenditures for your analysis that match the scenario you developed for Task 1. For instance, using the example scenario of a 35 year old single parent with a high STAT200: Written Assignment #1 – Descriptive Statistics Data Analysis Plan – Instructions Page 2 of 4 school diploma and one child, you could select “income,” “education,” and “number of children” as socioeconomic variables and then pick two household expenditure items to show the distribution of costs and compare that with your income.

When selecting variables, think about the following three questions: o Why am I choosing these variables? o What interests me about these variables? o What do I think will be the outcome?