Project Summary: Statistics homework The aim of this project is to use statistical software to do pictorial and tabular representation of data. There are a total of three data sets provided to work with. Detailed description of the data sets will be provided later Follow the guidelines mentioned below while doing the analysis and writing the report. 1) Identify the variables and classify them accordingly. It is always nice to give a brief description of the variables. 2) Depending on the type of variable, construct at least two appropriate pictorial representation. For example, create both a pie-chart and a bar-graph for categorical variables. Make sure to label the graphs. 3) For quantitative variables, calculate the center, spread, five-number summary etc. and explain how these values reflect on the survey/experiment. 4) Additional instructions pertaining to the different data sets are mentioned along with their description. 5) For any scatter-plot plotted, report the regression analysis. The value of R^2, slope and explain what this equation means. Data Set 1: CPS Wages. The Current Population Survey (CPS) is used to supplement census information between census years. These data consist of a random sample of 534 persons from the CPS, with information on wages and other characteristics of the workers, including sex, number of years of education, years of work experience, occupational status, region of residence and union membership. The data set contains six variables: Number of years of education(Education), Gender(1=Female, 0=Male), Number of years of work experience(Experience), Hourly wage in dollars(Wage), Age(in years), Occupational category((1=Management, 2=Sales, 3=Clerical, 4=Service, 5=Professional, 6=Other). Reference: Berndt, ER. The Practice of Econometrics. 1991. NY: Addison-Wesley. Source: http://lib.stat.cmu.edu/datasets/CPS_85_Wages Additional instructions: 1) Construct a scatter-plot of (a) Education vs. Wages (b) Experience vs. Wages