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Descriptive statistics - Assignment

Added on - 28 Jan 2020

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STATS
TABLE OF CONTENTSINTRODUCTION.......................................................................................................................................................................................3TASK 1........................................................................................................................................................................................................31 Descriptive statistics.............................................................................................................................................................................32 Regression analysis...............................................................................................................................................................................43 Equation of regression..........................................................................................................................................................................84 Predicted credit card charge when family size is three.........................................................................................................................85 Modification of model..........................................................................................................................................................................9TASK 2......................................................................................................................................................................................................10Activity 01.............................................................................................................................................................................................10Activity 02.............................................................................................................................................................................................10Activity 03.............................................................................................................................................................................................22TASK 3......................................................................................................................................................................................................251 Descriptive statistics...........................................................................................................................................................................252 ANNOVA...........................................................................................................................................................................................253 Appropriateness of treatment..............................................................................................................................................................27CONCLUSION..........................................................................................................................................................................................27
INTRODUCTIONIn the current time period credit card business is running by the number of firms. In the current report data set related to creditcard is analyzed and in this regard descriptive statistical tool are used to analyze the data along with regression analysis tools. Inmiddle part of the report, correlation tool is applied to explore relationship among the variables. Apart from this, ANOVA tools isused to identify whether there is relationship between geographic location and depression level. In this way, entire research is carriedout.TASK 11 Descriptive statisticsFigure1Descriptive statistics detailsInterpretation
In case of variable income it is observed that on average basis people are earning\$43000 followed by standard deviation which is14.55. On other hand, in case of variable household on average basis size of the entire family is 3.42 which means that on averagebasis there are 3 to 4 members in each family from whom data is gathered. Standard deviation is 1.73 which means that family size isapprox. same over time period and it does not change at rapid pace. Mean value of amount charged is 3963.86 which means that thereare large number of respondents which are making annual charge of mentioned value in respect to credit card. Results are clearlyreflecting that the difference between minimum and maximum amount charged is high if same is compared with relevant studiedvariables which are given in the table. This is reflecting that people become more habitual of using credit card to meet their needs.Even people are making overuse of credit card if we compare and take in to account their income level.2 Regression analysisH0: There is no significant mean difference between income level, household size and amount charged.H1: There is significant mean difference between income level, household size and amount charged.
Figure2Regression analysis
Figure3Income residual chartFigure4Household size chart