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Data Presentations - Essay Example

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Four parameters are analyzed in the report: median household income, average years of schooling, average lifespan and average number of people per household. The report will estimate the descriptive…
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Download file to see previous pages The economy, the social life and the satisfaction with life can be estimated using the statistical analysis of the corresponding data. The analysis permits to find the mean value of the parameter and to estimate whether the difference between the mean value and the particular measurement is due to the effect of the certain factor or whether it is within the confidence limit for the estimated parameter. The statistical analysis permits also to estimate the hidden trends and relationship between the parameters (Mendenhall, Beaver and Beaver, 2013).
The aim of this analysis is to estimate the parameters related to the economy, demography and social life of the countries. The data from 100 counties represents the information about the following indices: average lifespan, average number of people per household, median household income and average number of people per household. The provided data permits to estimate each parameter, as well as the relationship between them.
The analysis is started from the estimation of each variable. The Data Toolkit in Excel is used for this purpose. To obtain the descriptive statistics for each parameter the option “Descriptive Statistics” is chosen in the Data Toolkit. The obtained table provides information about the mean, median, mode, range and other main parameters of the descriptive statistics (Anderson, Sweeney, Williams, Camm and Cochrane, 2015). The information and its analysis are given below.
The descriptive statistics for the median household income shows that there is a significant difference between maximum and minimum value of this index. The minimum value is more the two times less from the maximum value. The data is distributed symmetrically because the mean and the median are very close and the skewness is comparatively small. It can be assumed that the data is normally distributed (Mendenhall, Beaver and Beaver, 2013). The main feature of the data is the large difference ...Download file to see next pagesRead More
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