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Mean, Median and Mode.
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What is the Applications of statistics in banking and finance?
statistics has nothing to do with real banking but it has scope in research and development department as in every r & d sector it uses tables and graphs and measures of central tendency to show the real result or expected one etc.
What is a math line plot?
A line plot shows data on a number line usually with an x or other marks to show frequency.It measures the frequency of an a item in a given data set.Source: www.icoachmath.comStep 1: First arrange the data items from least to greatest.Step 2: Then group the data items that are the same.Step 3: Match the grouped data items with the figures shown.
Can you show me examples of data picture?
data pictures are graphs.
What is the best way to show a lot of numerical data in very small space?
A data table is the best way to show a lot of numerical data in a very small place.
What graph is used to show how data changes over time?
A line graph is used to show data over time.
Would the mean median or mode represent data best?
It depends on the data and sometimes on what you are trying to show with the data. All of them are indicators of central tendency and have different uses.
Which is the most stable measure of central tendency?
Stability means that there will be less variation between random samples drawn on the same population. With categorical data, you may not have a choice, the mode is the only measure of central tendency that will be meaningful. With measureable, numerical data, the mean may be the only meaningful measure of central tendency, even though the median may show less variation. Some data may be assumed to have a skewed distribution, such as the price of homes, or incomes. The more stable and meaningful value for skewed distributions is the median, as a few high numbers can have a large impact on the estimate. See related links. You can find more information on central tendency by doing a search on the internet.
What is the Applications of statistics in banking and finance?
statistics has nothing to do with real banking but it has scope in research and development department as in every r & d sector it uses tables and graphs and measures of central tendency to show the real result or expected one etc.
Which is an appropriate display to show the measures of variation for a data set?
There are a number of appropriate displays to show the measures of variation for a data set. Different graphs can be used for this purpose which may include histograms, stemplots, dotplots and boxplots among others.
What is a descriptive statistic?
A descriptive statistic is a numerical summary of a dataset (e.g. a sample). There are four types of descriptive statistics that are commonly used: * Measures of central tendency: the central or most common value. # mean - There are several different types of mean, but by far the most commonly used is the arithmetic mean, which is simply the sum of the measurements divided by the number of measurements. This is typically what people refer to as the average. # median - value for which exactly half the measurements lie above and half below # mode - most frequently occurring measurement in a category* Measures of variability: the normal spread of values around the central value. # standard deviation - the mean of the squared deviations from the mean. 1 standard deviation is the range around the mean in which roughly 62% of the values of data will fall. # quartiles, deciles, centiles - divide the values in the data set into equal quarters (or tenths, or hundredths) by number of data points, to show how the values of the data points cluster around the center. # correlation - (for two variables) how closely the distribution of values in the two variables are related.* Measures of shape: what the data looks like. # skew - whether the data is balanced around the mean, or whether weighted towards one side or the other # kurtosis - the 'peaked-ness' or 'flatness' of a distribution.* Measures of size: # sample size - how many points have been analyzed
Comparing GDP for foreign countries can help a marketing manager evaluate potential markets of the manager remembers?
GDP measures show people's tendency to buy partovular prdoucts
Are median and mean always similar why?
They are both called "measures of central tendencies" because they show something about a group of numbers and what value they are 'centered' around.
What is a math line plot?
A line plot shows data on a number line usually with an x or other marks to show frequency.It measures the frequency of an a item in a given data set.Source: www.icoachmath.comStep 1: First arrange the data items from least to greatest.Step 2: Then group the data items that are the same.Step 3: Match the grouped data items with the figures shown.
What does standard deviation show us about a set of scores?
Standard Deviation tells you how spread out the set of scores are with respects to the mean. It measures the variability of the data. A small standard deviation implies that the data is close to the mean/average (+ or - a small range); the larger the standard deviation the more dispersed the data is from the mean.
What is commonly used to show discreet data?
what is commonly used to show discrete data
How do box plots describe data?
Box [and whisker] plots show 5 key statistics of a set of numerical data. It is of no use for qualitative data. From the smallest to the largest, the statistics plotted are:The minimum valueThe lower quartile (the value of the variable that is greater than a quarter of the observations)The median (the value of the variable that is greater than half the observations)The upper quartile (the value of the variable that is greater than three quarters of the observations)The maximum value.(In slightly refined versions, outliers are separately identified).The median is a measure of central tendency (average value). The difference between the quartiles is a measure of dispersion or spread around the average. The relative values of the five indicate whether or not the data set is skewed.Box [and whisker] plots show 5 key statistics of a set of numerical data. It is of no use for qualitative data. From the smallest to the largest, the statistics plotted are:The minimum valueThe lower quartile (the value of the variable that is greater than a quarter of the observations)The median (the value of the variable that is greater than half the observations)The upper quartile (the value of the variable that is greater than three quarters of the observations)The maximum value.(In slightly refined versions, outliers are separately identified).The median is a measure of central tendency (average value). The difference between the quartiles is a measure of dispersion or spread around the average. The relative values of the five indicate whether or not the data set is skewed.Box [and whisker] plots show 5 key statistics of a set of numerical data. It is of no use for qualitative data. From the smallest to the largest, the statistics plotted are:The minimum valueThe lower quartile (the value of the variable that is greater than a quarter of the observations)The median (the value of the variable that is greater than half the observations)The upper quartile (the value of the variable that is greater than three quarters of the observations)The maximum value.(In slightly refined versions, outliers are separately identified).The median is a measure of central tendency (average value). The difference between the quartiles is a measure of dispersion or spread around the average. The relative values of the five indicate whether or not the data set is skewed.Box [and whisker] plots show 5 key statistics of a set of numerical data. It is of no use for qualitative data. From the smallest to the largest, the statistics plotted are:The minimum valueThe lower quartile (the value of the variable that is greater than a quarter of the observations)The median (the value of the variable that is greater than half the observations)The upper quartile (the value of the variable that is greater than three quarters of the observations)The maximum value.(In slightly refined versions, outliers are separately identified).The median is a measure of central tendency (average value). The difference between the quartiles is a measure of dispersion or spread around the average. The relative values of the five indicate whether or not the data set is skewed.
How are line bar and pie graphs the same?
They both show a set of data. Line graphs show data over time. Pie graphs show percentages in data.
