Analysis of Socioeconomic and Demographic Variables: Descriptive, Hypothesis Testing, and Chi-Square Tests

Description: The paper applies statistical techniques like hypothesis testing and chi-square to socioeconomic and demographic data analysis.

Ava Martinez

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Analysis of Socioeconomic and Demographic Variables: A StatisticalApproach Using Descriptive, Hypothesis Testing, and Chi-Square TestsBased on the dataset provided, you are required to analyzeand interpret the relationship betweenvarious continuous and discrete variables. You are expected to focus on the following:1.Descriptive Statistics for Continuous Variables:oWealth ScoreoMedian School YearsoAgeFor each continuous variable, calculate and interpret the following measures:•Mean•Median•Mode•Variance•Standard DeviationProvide a detailed explanation of the observed patterns and suggest what the distribution of eachvariable might look like based on the statistical measures (e.g., bimodal, normal, skewed).2.Analysis of Discrete Variables:

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