Generate and organize a set of random data values


Assignment:

Descriptive Statistics

Purpose: The purpose of this assignment is to collect and organize a random sample of data values into a frequency table and then create statistics ( measures of center and variation) based on the frequency table, and a histogram based on the data in the frequency table. The information will then be analyzed in a written summary.

Part 1: Generate and Organize a Set of Random Data Values

Methods: Use Excel (or similar software) to create the tables. Then copy the items and paste them into a Word document. The tables should be formatted vertically, have borders, and be given the labels and titles stated in the assignment. The proper symbols should be used. Do not submit this assignment as an Excel file. The completed assignment should be a Word document.

1. The sample data will be found by using an online random number generator. Use the link below or any other random generator of your choice.

https://www.randomnumbergenerator.com/

Set the random number generator to find numbers between 1 and 75. Repeat the simulation 40 times, recording the number for each repetition. Use technology (Excel, graphing calculator, etc.) to sort the data from low to high. Use Excel or similar software to put the data into a table with 4 columns and 10 rows. Label this "Table 1: Sorted Set of Random Data."

2. Create a frequency table based on the 40 values from step 1. Use 5 to 10 classes for the frequency table. Refer to the textbook, section 2.2, page 46 on instructions how to construct a frequency table. After you have created your classes, organize the data as a frequency distribution in the table which means to take each value from table 1 and place it in the appropriate class. The intervals of the frequency distribution should be rounded to match the data. Label this "Table 2: Frequency Distribution."

3. Use table 2, find the midpoint for each class first. Then use technology to find the mean, median, standard deviation, and variance of the frequency table data listed in table 2 of this application. Put these values into a new table with the proper symbol or term in the left column and the value of the statistic in the right column. The statistics should be rounded properly. Label this "Table 3: Important Statistics."

4. Use Excel (or similar software) to construct a frequency histogram based on your frequency table from step 2 to illustrate the data. Give the axes the proper titles. Label this "Graph 1: Histogram."

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Microeconomics: Generate and organize a set of random data values
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