Case 1: Examining Data Distributions and Relationships
Instructions
Using the Unit 1_Case.xlsx, conduct a descriptive analysis on all variables. Be sure to use the correct methods for categorical or quantitative variables. For categorical variables, provide frequency distributions, bar graphs and pie charts. For quantitative variables, provide a histogram and report the mean and standard deviations. Along with the required graphical, tabular, and numerical applications, be sure to interpret what the statistical output for this case means. Interpret your results based on the following case problem:
You are a marketing representative for a major credit card company. You have carefully selected this sample of demographic and card balance information. This sample was taken scientifically, at random, from the population of all credit card users with your company. To better understand your population, you are tasked with analyzing the sample data descriptively. You will use the descriptive analysis, along with charts, graphs, and tables, to answer the following:
1. What are the mean and standard deviation of household income? Include a histogram. Comment below output on the shape of the distribution, noting especially any extreme values that may affect the mean and standard deviation.
2. Repeat 1 for the variables household size, amount charged, and age.
3. Next, produce a frequency distribution table, bar graph and pie chart for gender and education level. Comment below output on insights you can draw from the tables and graphs.
Then, in 2-3 well written paragraphs, describe the credit card users at your company based on the descriptive analysis of your sample of credit user data. Cite specific information from your descriptive analysis in steps 1-3. Your final paragraphs should summarize your results methodically and accurately report the findings of your descriptive analysis.
