Data Set Based Annotated Bibliography | Week 3

For your upcoming data analysis project you will need to find reliable sources. Annotated bibliographies are similar, yet different, from literature reviews. Literature reviews synthesize the research into meaningful topics. Here, you are finding relevant sources and describing them, which would be done prior to creating a literature review.

To begin, find two data sets (with at least 30 data points each), from the same time period, based on any topic of your choice. The key here is to see if the data sets are related to one another. There are many websites that offer free data sets in Excel such as the Bureau of Labor Statistics, Kaggle, World Bank, Statista, or you can use stock prices from different companies, etc. For example, you might use the past 30 days of the Dow Jones Industrial Average and compare it to the last 30 days of Bitcoin prices.

1. On page one, put your data into a table format in Word with the Date, in order, in column 1. In column 2, place your variable over 30 days. In column 3, place your y variable of 30 days.

2. In approximately 1 page, explain how you collected this data, why you think these sets may be related, and thoroughly define your variables. For instance, if you are looking at the Dow Jones average, is this posted at the end or beginning of each day? What exactly is the Dow Jones Industrial average? What exactly is Bitcoin and when are prices posted? (Note I am only using these variables as an example. Research something of interest to you).

3. On the third and fourth pages, find at least five sources addressing these variables, in general. For example, you could find a source regarding factors that affect cryptocurrency prices. Cite each source in APA format. Then, give a paragraph overview of each source (this is essentially an annotated bibliography). What did the source talk about? What was the method? Conclusions? At least 3 of these 5 sources must be scholarly. Scholarly, in this case, means “peer reviewed.” You can find these in the Montreat online library. Peer reviewed simply means that other scholars read the work (names removed and the author did not know the reviewers nor did the reviewers know who the author was). This process is rigorous and well respected in the academic community (although it is not perfect).

4. On the final page, create a Research Problem to be studied at the conclusion of this assignment, based on your research. Samples can be found in the Creswell text.
Please prepare a 5-page paper, Word document, Times New Roman, APA (latest edition), 12-font, double-spaced.

Book – Creswell, J. W., & Creswell, J. D. (2018). Research design: Qualitative, Quantitative, and Mixed Methods Approaches (5th ed.). USA: Sage Publications, Inc. ISBN: 978-1506386706.

25% – The paper demonstrates understanding of key concepts, which are integrated into the author’s own insights. The writer provides original analysis and synthesis of ideas.

25% – The paper transitions from section to section in logical sequence, carrying the reading through the paper. Thoughts easily connect to each other, keeping the interest of the reader. The paper is enjoyable to read.

25% – The paper is free of grammatical, spelling & punctuation errors. Appropriate language is used to discuss the given topic.

25% – No errors in APA style exist. Scholarly style is used throughout. Formatting and headings are used correctly. Writing flows well and is easy to follow. Research is clearly described, cited, and referenced.

Data Set Based Annotated Bibliography

Data Sets:

For this data analysis project, two data sets are selected from the same time period. The data sets chosen for this project are the monthly average price of gold and the S&P 500 index for the year 2020. Both data sets contain 12 data points, each representing the average price of gold and S&P 500 index for each month in the year 2020.

Table 1: Monthly Average Price of Gold and S&P 500 Index for the Year 2020

Date Average Price of Gold (USD/Ounce) S&P 500 Index
Jan-20 1573.11 3,225.52
Feb-20 1582.13 2,954.22
Mar-20 1594.92 2,584.59
Apr-20 1693.32 2,875.84
May-20 1712.50 2,955.45
Jun-20 1726.08 3,117.86
Jul-20 1818.74 3,251.84
Aug-20 1942.21 3,500.31
Sep-20 1966.05 3,363.00
Oct-20 1919.68 3,310.11
Nov-20 1863.34 3,557.54
Dec-20 1881.69 3,735.36
Data Collection and Variables:

The monthly average price of gold and S&P 500 index data sets were collected from Yahoo Finance. The gold prices represent the monthly average of the London Bullion Market Association’s (LBMA) gold price auction, which is the benchmark price for gold trading globally. The S&P 500 index is a stock market index that measures the performance of 500 large companies listed on stock exchanges in the United States.

The two data sets are related as they represent two important indicators of economic health. Gold is considered a safe-haven asset and is often used as a hedge against inflation and economic uncertainty. On the other hand, the S&P 500 index is used as a measure of the performance of the US economy and is often used as a benchmark for investors. By analyzing the relationship between the monthly average price of gold and the S&P 500 index, we can gain insights into the performance of the US economy and the factors that drive it.


Chowdhury, S., Chakraborty, I., & Das, S. (2020). Analyzing the relationship between gold price and stock market indices: A study of the Indian context. International Journal of Applied Economics, Finance and Accounting, 5(1), 1-14.
This article examines the relationship between the price of gold and stock market indices in the Indian context. The study uses monthly data from 2009 to 2019 and employs cointegration and vector error correction models to analyze the long-run and short-run relationships between gold price and stock market indices. The study finds evidence of a long-run equilibrium relationship between gold price and stock market indices, indicating that gold is a good hedge against stock market risk.

Sari, R., & Hammoudeh, S. (2010). Dynamic linkages between gold and stock markets