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In this assignment, you will investigate creating measures of economic status and poverty for counties to use as a predictor of overall prosperity.
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Check My Assignment!1. Using the textbook datafile, identify three variables that might be combined to create a single measure of a county’s economic status.
a. Using the Minitab statistical software, check on the internal consistency of these three variables. Use the correlation between the pairs of variables to determine consistency. The correlations should be positive (see page 113 for a discussion of assumption of homegeneity).
b. What do the findings tell you about the reliability of these variables?
c. Can you assume the variables give you an operationally valid indicator of a county’s economic position? Why or why not?
2. Choose a different set of three variables, this time seeking to measure a county’s poverty.
a. Using the Minitab statistical software, check on the internal consistency of these three variables. Use the correlation between the pairs of variables to determine consistency. The correlations should be positive (see page 113 for a discussion of assumption of homogeneity).
b. What do the findings tell you about the reliability of these variables?
c. Can you assume the variables give you an operationally valid indicator of a county’s economic position? Why or why not?
3. Given your findings, which indicator, economic status or poverty, do you believe is the better indicator for prosperity? Do they represent the same thing? Why or why not?
Your report must include:
1. For each set of variables, you must include the correlation matrix and the test of internal consistency (watch the Chapter 4 Minitab video for help).
2. Answer questions b and c for each set of variables. Explain your answers clearly and completely.
3. Identify which indicator you think is the better indicator. Explain your answer.
