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Report on various features of the data - Essay Example

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Some of the fundamental roles of the government are regulation of the economy and provision of utilities to its citizens. The services require liquidity potentials and this identifies The role of sources of government revenues such as borrowings and tax…
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Report on various features of the data
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Download file to see previous pages Further, some of the sources of revenues are interrelated as they may stimulate one another under their macroeconomic effects in the economy. This paper, based on a data set on United Kingdom government’s borrowing and received taxes, reports the data set’s features to the senior management office. Analysis of borrowings and received tax over the two fiscal years One of the important approaches to understanding the data set is an annual comparison of the data to understand the country’s progress in the period. This involves a comparison of the borrowings over the two fiscal years and a comparison of received tax over the period. The following table summarizes descriptive statists of government borrowings for the two fiscal years. ...
The difference between mean and median for the yearly borrowings could also be explained by the negative borrowings in the two years and the borrowings were more dispersed in the year ended 2013 that the year ended 2012. The graph bellow compared the annual borrowings and indicates higher borrowings 2012 Graph 1: Comparison of yearly borrowings The nation’s received tax over the two periods can similarly be compared using descriptive statistics that are shown in the table below. Table 2: Descriptive statistics for the fiscal years ended 2012 and 2013 received taxes Fiscal year ended 2012   Fiscal year ended 2013   Mean 12701.91667 Mean 12716.5 Standard Error 1259.548407 Standard Error 1323.836 Median 11077.5 Median 11057.5 Mode #N/A Mode #N/A Standard Deviation 4363.20367 Standard Deviation 4585.903 Sample Variance 19037546.27 Sample Variance 21030504 Kurtosis 5.931301194 Kurtosis 5.685588 Skewness 2.311375522 Skewness 2.248221 Range 15364 Range 16611 Minimum 9578 Minimum 8881 Maximum 24942 Maximum 25492 Sum 152423 Sum 152598 Count 12 Count 12 Confidence Level(95.0%) 2772.24735 Confidence Level(95.0%) 2913.744 The two periods reported an almost similar trend in received tax with means that are almost equal, 12701 and 12716. Medians for the two years similarly close with 11077.5 for the year ended 2012 and 11057.5 for the year 2013. Close similarity in standard deviation, Kurtosis, skewdness, minimum and maximum values and sums of received taxes further indicates similarity in the two periods’ trends and suggest consistency in the economic stability. The following graph shows a comparison of tax received in the two years with a similarity. Graph 2: Tax ...Download file to see next pagesRead More
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