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Comprehensive Statistics - Assignment Example

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This assignment "Comprehensive Statistics" discusses four levels of measurement data, the advantages and disadvantages of the bar chart, pie and Pareto diagram, the mean, mode and median as measures of central tendencies of data, the empirical rule and mutually exclusive and collectively exhaustive events. …
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Comprehensive Statistics
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Download file to see previous pages Therefore nominal data where attributes can be ranked but the distance between ranks has no meaning.
c. interval data- in this level of measurement the distance between ranks has a meaning, data can be ranked and at the same time the distance has meaning, for example, temperature data is interval data where temperature difference has meaning. The average and median calculated to have a meaning but ratio calculations have no meaning where one cannot state that 100 degrees Celsius is twice 50 degrees Celsius.
d. ratio- in ratio level of measurement the absolute zero value has a meaning, all statistical calculation of central tendencies and dispersion are meaningful, for example, data containing the number of customers that visit a retail shop, the value zero has meaning and the ratio calculations also has meaning where it can be stated that 20 customers are twice 10 customers.
The mean, mode and median are all measures of central tendencies of data; the mean is determined by adding up all the values in a data set and then dividing the number of observations. In the example, the value of the mean will 27/8 = 3.375
The Median is the middle value of an ordered data set for odd observations or the mean value of the middle two variables for even observations. In the example the median will be 3 +4 = 7, then 7/2 = 3.5, therefore median = 3.5 ...Download file to see next pagesRead More
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