1. The file comprises a dataset from the Survey of
Consumer Finance carried out in 2013 by the Federal Reserve in the
USA.
(a) What type of correlation will there be between
NETWORTH and AGE? Calculate the correlation co-efficient and the
coefficient of determination between NETWORTH and AGE. Is this
value close to what you expected? Explain your answer.
(b) Display the results by inserting an image file
(JPEG, PNG, PDF etc) of a scatterplot directly into your
document.
(c) Mean net worth of respondents in the
file.
(d) Mean debt broken out by male (Sex=1) and female
(Sex=2). Comment on the averages that you
obtain.
(e) A Excel box plot showing the mean net worth broken
out by years of education.
- 1 The File Comprises A Dataset From The Survey Of Consumer Finance Carried Out In 2013 By The Federal Reserve In The Us 1 (148.97 KiB) Viewed 38 times
NETWORTH -351,930 -350,540 -245,070 -240,990 -231,900 -204,300 -200,540 -200, 300 -184,950 -179,350 -179,340 -169,200 -160, 490 -154,400 -154, 220 -144,060 -139,000 -135,370 -134,380 -133,900 -126,170 -119,850 -118,500 -116,500 -115,790 -104,250 -101, 200 -100,700 -98, 300 -97,599 -96, 250 -95, 210 -93, 600 -92, 830 -92, 800 -92,570 -89, 449 -88, 449 -88, 100 -87,550 -86, 070 -85, 700 -85, 230 -84, 800 -84, 280 -82, 200 -81, 480 -80, 050 -79, 300 -79, 200 -78, 800 -78, 480 -78,470 -77,490 -76,665 -74,999 -74, 350 MEAN Median AGE 62 29 41 27 51 32 22 28 23 42 28 41 55 61 25 21 79 32 45 76 42 28 76 53 39 41 47 31 28 5.0 31 29 36 51 46 47 35 45 45 25 25 5.8 49 36 36 32 61 33 27 29 53 47 40 52 32 28 37 40.70 39 SEX 1 1 1 2 1 1 1 1 1 1 1 1 2 2 1 1 1 1 1 2 1 1 1 1 1 1 2 1 2 1 2 1 2 1 1 1 1 1 1 1 1 2 1 1 2 RACE 1 1 1 1 1 5 1 1 1 1 1 1 1 2 1 1 1 1 1 1 2 1 1 3 3 1 1 1 2 1 1 1 2 2 2 1 1 1 1 1 1 1 3 1 1 3 1 1 5 2 2 2 3 1 1 2 ASSET 349, 070 189, 160 339, 230 43,510 9, 600 26,900 7,600 15,700 4,000 249, 650 360 107,800 176, 880 27,600 3, 180 5, 140 0 314, 330 620 264, 600 414, 930 7,150 146, 540 119, 700 35,210 108, 500 138, 800 16,500 44,100 12,901 151, 550 124, 290 6,400 59,170 14,200 13,730 11, 601 5, 551 189, 200 25,050 14,400 209, 100 69,920 227, 200 77,720 133, 800 133, 020 101, 040 20,700 27,800 1, 200 7,720 15,080 334, 210 17,335 22,001 18,550 DEBT 701,000 539,700 584,300 284,500 241,500 231, 200 208,140 216,000 188,950 429,000 179,700 277,000 337,370 182,000 157,400 149,200 139,000 449,700 135,000 398,500 541,100 127,000 265, 040 236,200 151,000 212,750 240,000 117,200 142,400 110,500 247,800 219,500 100,000 152,000 107,000 106,300 101, 050 94,000 277,300 112,600 100, 470 294,800 155, 150 312,000 162,000 216,000 214,500 181,090 100,000 107,000 80,000 86, 200 93,550 411,700 94, 000 97,000 92, 900 INCOME 54,785 137,976 95,975 517 34,494 10,145 13,189 5,174 38,552 73,046 365 39,567 88,264 334, 795 10,145 8, 015 12,174 96,380 0 41,596 93,337 48,698 93,337 43,625 37,538 52,756 158, 267 32,465 41,596 46,668 76,090 76,090 10,044 42,610 7,812 38,552 91,308 25,363 164, 354 36,523 38,552 83,192 89,279 42, 610 57,828 65,945 15,218 47,683 20,291 50,727 16,233 35,509 59,857 33,480 46,668 18,262 30,436