Question

# The attached Excel file (Assignment2-template.xlsx) contains data obtained from 274 couples regarding their

education level, annual salary, the value of the cars that they own, the value of their homes, their total savings value (including stocks and bonds) and their social climber index (scale of 1-10, where 1 means very unconcerned about social status, 10 means very concerned). With this data, and using SPSS and/or excel, , answer the following questions:

a) Generate box plots that illustrate social climber index versus salary. Briefly explain what you learn from these box plots with regards to salary vs. social climber index.

b) Generate 4 box plots that illustrate education level versus salary, education level versus car value, education level versus home value and education level versus savings. Briefly explain what you learn from these box plots with regards to education level and salary vs. the other four variables. Discuss in a few sentences, trends and variations related to education level differences to the four variables (salary, car value, home value and savings)

c) Generate histograms and descriptive statistics for the following variables: salary, car value, home value and total savings. Be sure to identify median, mean, and standard deviation also identify any trends or abnormalities that are obvious. Be sure to also discuss shape of the histograms in your explanation. (Note when plotting histograms in SPSS, set parameters to Automatic for Anchor First Bin and Bin Sizes)

d) Generate histograms and descriptive statistics for the same variables in part c except segregate these by education level. (Essentially you will get 4 sets of descriptive statistics on salary, car value, home value and savings based on the four different education levels-16 total histograms). Explain the difference in the variable means, median and mode, standard deviation between education levels as well trends and anomalies. Be sure to also discuss shape of the histograms in your explanation. (Note when plotting histograms in SPSS, set parameters to Automatic for Anchor First Bin and Bin Sizes)

e) From the analysis above, do you find any surprises with the results? In other words are there any trends in the data that are contrary to what you expected? Briefly explain.

f) Based on the empirical data determine the following probabilities:

i. Social climber index greater than or equal to 8

ii. Salaries less than or equal to $50K

iii. Home values between $150K and $250K, inclusively

iv. Car value less than or equal to $49K

g) Given that a person has earned a Masters or Doctorate degree (education levels 3 and 4), determine the following probabilities:

i. Social climber index greater than or equal to 8

ii. Salaries less than or equal to $50K

iii. Home values between $150K and $250K, inclusively

iv. Car value less than or equal to $49K

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