Question

Case Study 1 - Data Visualization and Descriptive Statistics The data file Home_Values.xlsx contains median home values (Home Value), median household income (HH Inc), median per capita (Per Cap Inc) and percent of homes that are owner occupied (Pct Owner Occ) for each state and the District of Columbia. Prior to a more detailed analysis of the data, a company wants to get a good understanding of the 4 variables (e.g. central tendency, variability, shape of the distribution, pattern of relationship between the variables). A company representative contracts with you to help with this process. To help the company get a better understanding of the data, you are asked to perform the following analysis steps:

State	Home Value	HH Inc	Per Cap Inc	Pct Owner Occ
New York	303900	55603	30948	55.2
North Carolina	149100	45570	24745	68.1
North Dakota	111300	46781	25803	66.6
Ohio	136400	47358	25113	69.2
Oklahoma	104300	42979	23094	68.2
Oregon	252600	49260	26171	63.8
Pennsylvania	159300	50398	27049	71
Rhode Island	279300	54902	28707	62.5
South Carolina	134100	43939	23443	69.9
South Dakota	122200	46369	24110	68.9
Tennessee	134100	43314	23722	69.6
Texas	123500	49646	24870	64.8
Utah	218100	56330	23139	71.2
Vermont	208400	51841	27478	71.4
Virginia	255100	61406	32145	68.9
Washington	285400	57244	29733	64.8
West Virginia	94500	38380	21232	74.6
Wisconsin	169000	51598	26624	69.5
Wyoming	174000	53802	27860	70.2

Answer 1

The descriptive statistics of the data is:

	Home Value	HH Inc	Per Cap Inc	Pct Owner Occ
count	19	19	19	19
mean	1,79,715.79	49,827.37	26,104.53	67.811
sample standard deviation	67,262.61	5,843.50	2,875.21	4.244
sample variance	4,52,42,59,181.29	3,41,46,444.80	82,66,860.93	18.012
minimum	94500	38380	21232	55.2
maximum	303900	61406	32145	74.6
range	209400	23026	10913	19.4
1st quartile	1,28,800.00	45,969.50	23,916.00	65.700
median	1,59,300.00	49,646.00	25,803.00	68.900
3rd quartile	2,35,350.00	54,352.00	27,669.00	70.050
interquartile range	1,06,550.00	8,382.50	3,753.00	4.350
mode	1,34,100.00	#N/A	#N/A	68.900
low extremes	0	0	0	0
low outliers	0	0	0	1
high outliers	0	0	0	0
high extremes	0	0	0	0

The boxplots are: