Lab 1 - Describing Distributions - Amherst Home Prices

Lab 1 - Describing Distributions - Amherst Home Prices -...

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Lab 1: Organizing and Describing Data Objectives : 1. Introduce Excel as a tool for organizing and analyzing data. 2. Practice manipulating data. 3. Review “Organizing Data” from basic stats – use Excel to illustrate frequency and relative frequency distributions . 4. Use descriptive measures: mean , standard deviation , quartiles and interquartile range to describe distributions. Key Terms : 1. Grouped Data Table. 2. Frequencies and Relative Frequencies. 3. Histograms (Bar Graphs). 4. Cross sectional data 5. Mean and Standard Deviation 6. Quartiles, Interquartile Range, 5-Number Summary. Data : 2006 Amherst Single Family Home Sales (Lab 1 – Amherst Sales 2006.xlsx) Data were collected for all 2006 single family home sales in the town of Amherst. We can consider these population data. The data file includes location information, sales price and the 2006 assessed value. The spreadsheet Lab 1 – Amherst Sales 2006.xlsx is posted on the LabShare (L:) drive; and an Excel 97-2003 version is on the course website under Lab Exercises (all lab data will be posted on the website). These data represent an example of cross-sectional data , a data set that contains values collected for different home sales for a specific point in time, the 2006 calendar year. Exercises : Save Your Excel File . 1. Everyone should save the same basic Excel file saved somewhere they can access it in the future – we’ll be using that file for several exercises; we recommend using your UDrive . To do this, be sure to first login to your UDrive . Then, go to the L: drive and copy the file Lab 1 – Amherst Sales 2006.xlsx to your UDrive . This will create a secure copy of your work – the UDrive is backed up regularly. You can also save your file to a thumb drive, but the UDrive is accessible from everywhere; you’ll not have to worry about not having your thumb drive. Grouped Data Table for Amherst single family home prices. 1. The data are in no particular order. You should find 169 observations for sales date, location (Parcel ID, street number and name), sales prices and assessed values. Today we’ll work with the sales price data. To avoid ruining these population data, create a copy of the worksheet. (Right click the tab, choose M
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This note was uploaded on 12/08/2011 for the course ECON 312 taught by Professor Daniellass during the Winter '10 term at UMass (Amherst).

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Lab 1 - Describing Distributions - Amherst Home Prices -...

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