University of Maryland Global Campus STAT200 - Assignment #1: Descriptive Statistics Data Analysis Plan (answered) Updated Summer 2022

STAT200 - Assignment #1: Descriptive Statistics Data Analysis Plan Scenario: I am a married 36 year old (Head of House hold) with one child. I earn an annual income of 100,097.00 USD. I have an annual expenditure of 17,808.00 USD; 12,408.00 USD is spend on mortgage; 3,600.00 USD on grocery shopping; 1,800.00 USD on fuel cost. I want to determine the annual expenditure of my household based off these base number. These number do not include eating out, cable/internet, electricity, water, vehicle maintenance, registration, or insurance. Use Table 1 to report the variables selected for this assignment. Note: The information for the required variable, “Income,” has already been completed and can be used as a guide for completing information on the remaining variables. In the subsequent section, explain why you selected each variable as well as the expected outcome. Table 1. Variables Selected for the Analysis Variable Name in the Data Set Description (See the data dictionary for describing the variables.) Type of Variable (Qualitative or Quantitative) Variable 1: “Income” 100,097.00 USD Quantitative Variable 2: “Expenditure” 17,808.00 Quantitative Variable 3: “Housing” 12,408.00 Quantitative Variable 4: “Age of Head of Household” 37 Quantitative Variable 5: “Family Size” 3 Quantitative Reason(s) for Selecting the Variables and Expected Outcome(s): 1. Variable 1: “Income” – This is a close estimate to my current income and does not include my wife’s income. I have chosen to do it this way just for the purpose of the assignment. 2. Variable 2: “Expenditure“ – The annual expenditure is the sum of food, transportation, and Housing. 3. Variable 3: “Housing“- This is a close estimate to my current mortgage, I did not add all the extras because people tend to live differently. Like the example of the child doctor. He likes S - The Marketplace to Buy and Sell your Study Material to keep his house chilled; where