Statistics: Data Points

Description

Evaluate a set of statistics (an excel spreadsheet with 50 unique sets of data is embedded at the end of this description–(Use Data Set 11), construct a simple table (you can do this using the table icon in your rich text editor). On that table include the data set you selected and then calculate the mean, mode, and standard deviation of the data. Next, develop a scenario that best represents the data you selected by paying attention to the data set and your results. What kind of real-world scenario would you find yourself gathering data values such as you’re that have stats like the ones you computed. Discuss what the stats are telling you about your data based on the scenario you chose. For instance, why does it have such a large standard deviation (or such a small one) and what does that tell you about your data? Discuss similar insights about the mean and mode (be sure to use the =mode.mult version of the mode formula in case you have more than one mode!)

Use this link: Forum 7 DataSet Problems.xls (live.com)

Explanation & Answer:

200 words

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