What are the two related variables that you are interested in. E.g.: X = education, Y = income, so that Y = mX+ B, i.e., income = meducation + B. What do you expect the relationship between X and Y to be?

Assignment Question

Statistics: Final Project For this project, please include your dataset and neatly show all of your work. This project is a mathematical research report. Thus, there will be concepts and ideas that you may have to learn during the process of completing this project. This is to be expected! Please be clear and careful with how you complete this project. For your final project you are to find a sample data set with a sample size of at least 35. You will use your data set to answer the following questions. Here are some helpful links where you can find free data sets.

https://careerfoundry.com/en/blog/data-analytics/where-to-find-free-datasets/ https://libguides.bentley.edu/c.php?g=696158&p=4937169 https://careers.uw.edu/blog/2021/10/05/21-places-to-find-free-datasets-for-data-science-projects-shared-article-from-dataquest/

1. Write a brief description of your dataset, i.e., who collected the data? What kind of data is it (cross-sectional, time series, repeated cross-sectional, or panel)? [look up these terms if you do not know what they mean]. When were the data collected? How was the sample constructed? What is the population of interest?

2. What are the two variables (or types of variables) covered in the data? Where did you get this data from?

3. What are the two related variables that you are interested in. E.g.: X = education, Y = income, so that Y = mX+ B, i.e., income = meducation + B. What do you expect the relationship between X and Y to be?

4. How large is n := sample size? 5. Find the mean and median of your data. Does your mean and median agree? Why/why not?

6. Find the variance and standard deviation of your data. Interpret your results.

7. Define covariance. How do you find the covariance? Find the covariance of your data. Interpret your results.

8. What is the correlation coefficient of your data? Interpret your results.

9. Find the critical value of the correlation coefficient r for sample size n (at the 95% confidence level).

10. Using (8) and (9), are the results of the study statistically significant? 11. Find the margin of error at the 95% confidence interval. 12. State your null and alternative hypothesis. 13. Find the P-value. Interpret your results.

14. Does your interpretation in (10) agree with your interpretation in (13)? Why/why not?

15. Find the line of best-fit of your data. That is, the regression line of your data. 16. PUTTING IT ALL TOGETHER: Given what you have found from (1-14), what can you conclude about your data set? Be very specific.

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