Research Paper: Descriptive Analysis Assignment Instructions
Overview
A simple way to analyze fiscal data over time is via descriptive statistics. Descriptive Statistics refer to the analysis, summary, and presentation of findings related to a data set derived from a sample or entire population. Descriptive statistics comprise three main categories – Frequency Distribution, Measures of Central Tendency, and Measures of Variability. Although descriptive statistics may provide information regarding a data set, they do not allow for conclusions to be made based on the data analysis but, rather, provide a description of the data being analyzed.
Value of Descriptive Statistics
Descriptive statistics allow for the ease of data visualization. They allow for data to be presented in a meaningful and understandable way, which, in turn, allows for a simplified interpretation of the data set in question. Raw data would be difficult to analyze, and trend and pattern determination may be challenging to perform. In addition, raw data makes it challenging to visualize what the data is showing. Descriptive statistics are used to summarize complex quantitative data.
The coefficient of variation measures how far the data points (monthly taxes) are from the mean. The less spread, the smaller the coefficient of variation, thus one can have more confidence that the collected monthly taxes will be parallel, creating less financial risk. Conversely, the greater the spread, the larger the coefficient of variation, thus one can have less confidence that the collected monthly taxes will be parallel, creating more financial risk.
Instructions
For this assignment, students will compute the coefficient of variation and interpret and write a four-page memo stating the findings.
Submit research paper as a research memo:
To:
From:
Subject:
The paper content should consist of:
(1) At least two of pages describing the value of the standard deviation and coefficient of variation and how they can be used in risk assessment.
(2) A table of computational findings using the Revenue Analysis Template.
(3) Analysis of the coefficients of variation as they pertain to the two risk assessment research questions for two states.
Use the Revenue Analysis Template to present the data in your research memo. Also, report the means and standard deviations as whole dollars.
Interpreting Descriptive Statistics
How to analyze the coefficient of variation and compare the two data sets
The coefficient of variation measures how far the data points (monthly taxes) are from the mean. The less spread, the smaller coefficient of variation, thus one can have more confidence that the collected monthly taxes will be parallel. The more the spread, the larger the coefficient of variation; thus, one can have less confidence that the collected monthly taxes will be parallel.
An analysis of the coefficient of variation can be somewhat complex. However, for this assignment, you will just answer the following research questions:
· Which set of data shows highest variation and which shows lowest variation? Which state shows the highest and lowest variations in total income and total sales tax collections?
· Which state’s tax collections are more consistent and fluctuates the least?
Assigned readings probably will not help you analyze primary data. You must learn to do that yourself by researching how to analyze data. The author(s) have not seen your data, so they cannot help with the interpretation.
The paper must be in current APA format with 1-inch margins and 12-pt Times New Roman font. You must also include a title page and reference page. You must include citations to a sufficient number of appropriate professional, scholarly, or other appropriate sources to fully support your assertions and conclusions (which will likely require more than the minimum number of citations); each paper must include a minimum of 5 sources, not including the course textbooks, assigned readings, and the Bible.
Review Watch: Statistics: Comparing Standard Deviations Without Calculation
https://you.tube/R97OR-Grl4k?si=Q6YLCSV014l66qux
Plagiarism in any form is strictly prohibited and may result in failure of the assignment, failure of the course, and/or removal from the program. It is your responsibility to ensure that you fully understand what constitutes the various forms of plagiarism and to avoid all forms of plagiarism.
Note: Your assignment will be checked for originality via the Turnitin plagiarism tool.