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A lab exercise from an economics course (econ 230) focused on understanding the normal distribution and calculating z-scores. Students are required to use excel to find the mean and standard deviation of a dataset named v3, which represents vote percentages of different candidates. They must then sort the data, compute z-scores, and perform various probability calculations using the normal distribution. The goal is to learn how to analyze data using statistical methods.
Typology: Lab Reports
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Lab 5 The goal of this lab is to learn to work with the normal distribution. Use V 3 , your data about the vote percentages that different candidates received, as the variable x that you’re interested in learning about. MAKE SURE TO HAND IN THE ANSWER SHEET ONLY WHEN YOU HAND IN LAB 5! ( 1 point) 1. Use Excel to compute the mean and standard deviation of V 3. ( 2 points) 2. Sort the list of 40 data values from smallest to largest, using the Excel directions about how to sort at the end of the next page. Write down the values on lines #5, #20, and #35. Compute the corresponding z -scores by subtracting the mean from each x value and dividing by the standard deviation. Round to two decimal places. Your table should like the table below. Suppose that I have a sample of 40 candidates and the mean vote percentage is 48 and the standard deviation is 11. My table would look like: Line Number x value (life expectancy) z -score 5 L=32.1 –1. 45 20 M=49.3 0. 12 35 H=63.7 1. In the table above, L should be the fifth-lowest value in your data set, M is a value near the middle of your data set, and H is the fifth-highest value in your data set. For the rest of the lab, you will make the assumption that your data is approximately normally distributed. For each of the following problems, assume that the mean and standard deviation are the values you found in problem 1. (3 points) 3. Using the mean and standard deviation from question 1 , and using the formula x z , find the data value x that goes with the following z -scores Use^ ^ x^ (the mean you found in Problem 1) and^ ^ s^ (the standard deviation you found in Problem 1). .
( 2 points) 4. Sketch (by hand) a normal curve with your value for x^ (the mean you found in part 1) as (^). Take the three values specified in question 3 above, and locate them on your x– axis. Clearly label your x– axis as being a candidate’s vote percentage. Round the corresponding z- scores (from 3 above) to two decimal places. Write the z- scores on a line below the x- axis.
Lab 5 (4 points) 5. Using the methods shown in class and using the values you found in problem 2 for L, M, and H, find the following probabilities. INCLUDE A SKETCH WITH EACH PROBLEM AND MAKE SURE TO GIVE THE NUMERICAL ANSWER BELOW EACH SKETCH. MAKE SURE TO USE YOUR VALUES OF L, M, AND H (AND NOT MINE FROM THE EXAMPLE ON THE PREVIOUS PAGE). a. P( x < L) b. P( M<x<H ) (4 points) 6. A) Sketch a normal curve using your value for^ ^. Shade the area where the lowest 20% of your values would be (using the normal curve). Indicate the value for x that is the 20th^ percentile in the space provided below the sketch. B) Sketch a normal curve using your value for^ ^. Shade the area where the highest 5% of your values would be (using the normal curve). Indicate the value for x that is the 95th^ percentile in the space provided below the sketch. Excel Directions To sort your data by a given column:
Lab 5 iii) Answer: _____________________
**4. Sketch:
a)** P( x < L) = __________
Lab 5 b) _P( M < x < H) = ____________ 6. a) 20% of my x -values are below the following value for x : ____________. b) 5% of my x -values are greater than the following value for x : _____________.