For this discussion you will need to come up with twenty different data points and enter them into the first column in Excel. The data points can be any numbers you want as long as there are twenty of them. You will then use the descriptive statistics option in Excel, which is explained in your text, you should get an output similar to figure 1.2. This output should contain the mean, standard error, median, mode, standard deviation, sample variance, kurtosis, skewness, range, minimum, maximum, sum, count. Be sure to begin your discussion by reporting your results for each of these values. Based on this output which single value best describes this set of data and why? If you could pick three of these values instead of only one, which three would you choose and why? It is important to note that the answers to these questions may be different for each of you as you are all using unique sets of data.

Question

For this discussion you will need to come up with twenty different data points and enter them into the first column in Excel.  The data points can be any numbers you want as long as there are twenty of them.  You will then use the descriptive statistics option in Excel, which is explained in your text, you should get an output similar to figure 1.2.  This output should contain the mean, standard error, median, mode, standard deviation, sample variance, kurtosis, skewness, range, minimum, maximum, sum, count.  Be sure to begin your discussion by reporting your results for each of these values.  Based on this output which single value best describes this set of data and why?  If you could pick three of these values instead of only one, which three would you choose and why?  It is important to note that the answers to these questions may be different for each of you as you are all using unique sets of data.