.Part 1:
Dependant Variable : Inflation in Canada (2010-2020)
Independent Variables:
1. Unemployment rates in Canada (2010-2020)
2. Import of goods (2010-2020)
Explanation for chosen Variables:
As inflation is an extremely hot topic at the moment, I decided to choose it as my
dependant variable, curious to see what some of the prime causes are and how they
affect inflation. Due to the laws of supply and demand, the less goods being produced/
imported, naturally, the less supply of goods there will be. Since the demand for goods is
fairly stable, the main cause for inflation is lack of goods. For this reason, I chose as my
two independent variables: Unemployment rates and Import of goods.
Section I: one-variable measures with graphs and distributions
Describe each of the 3 of your varables (two independent and one dependent) by:
calculating and making reference to the measures of central tendency (definition: mean, median and modal interval);
analyzing the spread (definition: IQR with Q1 and Q3, range and standard deviation); and
creating a histogram and box plots
Describe the distribution (definition: left or right skewed, normal, uniform, bimodal, etc.) of your data as well
For each of the variables, describe the meaning of each of the measures as you state what they are.