Analyzing Monthly Expenditures Data

Analyzing Monthly Expenditures Data

Analyzing Monthly Expenditures Data Instructions: Show your work or explain in detail how you arrived at your answers. You will upload a separate Excel for the assignment.

EXCEL FILE

The monthly expenditures of four employees at a paper mill are shown in the table below. Assume all their monthly income is accounted for. All amounts are in dollars.

• APA.

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You will use Excel to create a statistical presentation of this data.

1. Open the attached spreadsheet.
2. Use Excel’s calculation functions to determine the mean amount all four men spent on each category. (Hint: Click in the cell you want the answer to appear. Then click on the Formulas tab, then More Functions > Statistical. Select AVERAGE then select the cells you want to average together. Repeat this process for each category). 
   

   Analyzing Monthly Expenditures Data

3. Use Excel’s calculation functions to determine the median amount spent on each category.,
4. Use Excel’s calculation functions to determine the standard deviation in amounts for each category. ,(Hint: Use the STDEVA function).
5. Create a pie chart showing what percent of his monthly budget John spends on each category. Be sure to include category labels with percentages. (Hint: Select the categories and data, then click on the Insert tab. Select the 2-D pie chart. To add labels, click on your pie chart and click the “+” symbol. Then check “Data Labels” and select “Data Callout”)
6. Browse around and scroll through all the different functions available in Excel. Were there functions you may have never seen before that you are now familiar with? Can you think of a situation where the functions and graphing capabilities of Excel would be useful to you in your life or career?
   

   Analyzing Monthly Expenditures Data

7. Use Excel’s calculation functions to determine the standard deviation in amounts for each category. (Hint: Use the STDEVA function).
8. Create a pie chart showing what percent of his monthly budget John spends on each category. Be sure to include category labels with percentages. (Hint: Select the categories and data, then click on the Insert tab. Select the 2-D pie chart. To add labels, click on your pie chart and click the “+” symbol. Then check “Data Labels” and select “Data Callout”)
9. Browse around and scroll through all the different functions available in Excel. Were there functions you may have never seen before that you are now familiar with? Can you think of a situation where the functions and graphing capabilities of Excel would be useful to you in your life or career?