Expert answer:University of Maryland Probability in Budgeting Da

  

Solved by verified expert:For part 1, you will create a fictional scenario that will frame your data analysis. I have provided a sample scenario in the assignment instructions. Next, you will choose your variables. Please follow the posted instructions very carefully. You are expected to choose a specific number and type of variables. In your assignment you must provide a rationale for why you chose these variables (hint: connect this back to the scenario you created).Next you will choose measures of central tendency and dispersion for each variable. Again, please review the instructions carefully. The key is in understanding which of your chosen variables is qualitative and which is quantitative. That will guide your choice of measures of central tendency and dispersion.Last, you will choose appropriate graphing methods for each variable. I have provided some examples in the instructions. Remember that for part 1 of the project you are not performing any statistical tests or creating graphs…you are merely creating a plan. Please do not choose your own variables.Please see attachment for further instrucstions.

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