ECON 230 Name:
Lab 2
The goal of this lab is to learn about descriptive statistics.
Part 1: For this part, use your qualitative variable V1.
(1 point each)
A. Prepare a frequency and relative frequency distribution for your qualitative data V1. Fill in
the appropriate data values and frequencies for your data.
B. Use your frequency table to prepare a pie chart for your data. You can use Excel to do this.
See the instructions at the end of this lab.
Part 2: For this part, use your quantitative variable with a smaller range: V2.
(1 point each)
A. Identify the quantitative variable that you are using. Prepare a histogram for your data that has
five classes. Make your lowest class start with the lowest value in your dataset and your
highest class end with the highest value in your dataset.
B. Find the mean and median for the variable V2 using Excel.
C. Refer to the histogram of your data from part A. Draw a small triangle pointing to the mean on
the
x
axis of your histogram.
D. Find the range and standard deviation using Excel.
E. Find the interquartile range of your data.
Part 3: For this part, use your quantitative variable with a bigger range: V3.
(1 point each)
A. Name which quantitative variable you are using. Prepare a frequency distribution for your data,
using the groups listed on the answer sheet.
B. Draw a histogram using the frequency table from part A.
C. The mean of all the baseball salaries in the population (of 463 players) is $2,873,000 and the
standard deviation is $3,979,000. Use these numbers and Chebyshev's Theorem to write a
statement about the interval in which at least 75% of all baseball salaries must lie.
(If you get a negative number, that’s OK).
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