PURPOSE
This question is often asked: “Why Excel and Word?” As I have stated before, individuals that will deal with data, whether analysts, accountants, product managers, etc…, need to be able to find patterns in the data and report on them. This is a brief introduction to that world. This dataset is related to the rising costs in the United States between 2000 and 2023. We want to see which variables affect inflation. You will run a multiple regression to identify which variables have the greatest “impact” on 2023 US inflation rates by state, as well as, identify outliers in your data and summarize your results.
DIRECTIONS
You have until 5/17/2024 4:59:59pm PST to turn in a PDF document via Canvas. The subject header must be E3060 – PROJECT – LAST NAME, FIRST NAME.
Download E3060_Project_Data.csv from the Class Project Module, which is found on Canvas.
You will use Excel to perform various statistical functions that are stated in the Grading Rubric & Project Questions section below.
Using Word, you will answer the 12 questions found in the Grading Rubric & Project Questions section below.
Convert your Word document into a PDF and upload the file via Canvas.
MATERIALS REQUIRED & ALLOWED
Microsoft Word with Analysis ToolPak
Microsoft Excel
All class notes
Textbooks
Calculators
HELPFUL EXCEL FORMULAE
COMMON EXCEL FORMULA
=AVERAGE()
=MEDIAN()
=STDEV.S() – Std Dev for a sample
=STDEV.P() – Std Dev for a population
=VAR.S() – variance for a sample
=VAR.P() – variance for a population
