Statistics Course Project Part 1
Student: Zissis Koukoutaris
Course : Statistics
Professor: Dimitrios Fotiadis
Semester: Fall-2012
Introduction
This report is written by Koukoutaris Zissis a student from Northeastern University. Mr Fotiadis my professor of the MGSC 23021 assigned me the task.
1. Use methods of descriptive statistics to summarize the data. Comment on the findings
2. Develop estimated regression equations, first using annual income as the independent variable and then using household size as the independent variable. Which variable is the better predictor of the annual credit card charges? Discuss your findings.
3. Develop an estimated regression equation with annual income and household size as
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The standard deviation of these averages is 2.06, which is good
In business terms this says that if we keep surveying samples of size 50 that the incomes will be close to the average, or in other words these samples will prove our point that the average spending will remain pretty much the same.
c)Standard deviation of Incomes is $14.551 | Household size | a)Average is 3.4 b)with a standard deviation of of averages0.25 c)Standard deviations of Household zise is 1.739 | Charged Amount | a)Average amount charged is $3,964, and on the average the household amt charges are close by $132
b)Most people charge about $3890, and most people make salaries of $30K,54K, or 55K |
Appendix -1 Income
($1000s) | Household
Size | Amount
Charged ($) | 54 | 3 | 4,016 | 30 | 2 | 3,159 | 32 | 4 | 5,100 | 50 | 5 | 4,742 | 31 | 2 | 1,864 | 55 | 2 | 4,070 | 37 | 1 | 2,731 | 40 | 2 | 3,348 | 66 | 4 | 4,764 | 51 | 3 | 4,110 | 25 | 3 | 4,208 | 48 | 4 | 4,219 | 27 | 1 | 2,477 | 33 | 2 | 2,514 | 65 | 3 | 4,214 | 63 | 4 | 4,965 | 42 | 6 | 4,412 | 21 | 2 | 2,448 | 44 | 1 | 2,995 | 37 | 5 | 4,171 | 62 | 6 | 5,678 | 21 | 3 | 3,623 | 55 | 7 | 5,301 | 42 | 2 | 3,020 | 41 | 7 | 4,828 | 54 | 6 | 5,573 | 30 | 1 | 2,583 | 48 | 2 | 3,866 | 34 | 5 | 3,586 | 67 | 4 | 5,037 | 50 | 2 | 3,605 | 67
This paper was prepared for MKT 120, MODULE 3 CHECK YOUR UNDERSTANDING taught by PROFESSOR K
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