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Data Analysis Techniques - Victoria

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Added on  2022-11-30

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This study explores data analysis techniques and descriptive statistics for transportation spending. It presents the dataset in tabular and graphical form, calculates mean, median, mode, range, and standard deviation, and uses forecasting models to predict future spending. The study concludes that these tools are useful for determining actual spending and planning for the future.

Data Analysis Techniques - Victoria

   Added on 2022-11-30

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Data analysis techniques - Victoria
Data Analysis Techniques - Victoria_1
TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................2
Presenting the gathered dataset in a tabular format.....................................................................2
Present the data in graphical form...............................................................................................2
Describing the steps of descriptive statistics...............................................................................3
Calculating y = mx + c through forecasting model.....................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
Data Analysis Techniques - Victoria_2
INTRODUCTION
Data analysis is all about to extract the useful information from the dataset in order to
determine the exact results. The present study is based upon the money spend upon
transportation from last ten months. The study will provide the deeper insight about the way in
which mean, mode, median used regarding amount spend upon transport.
Presenting the gathered dataset in a tabular format
Month Amount spend on transportation (£)
April 50
May 55
June 45
July 55
August 42
September 47
October 51
November 53
December 55
January 54
Present the data in graphical form
Bar graph:
Data Analysis Techniques - Victoria_3
April
May
June
July
August
September
October
November
December
January
0 10 20 30 40 50 60
50
55
45
55
42
47
51
53
55
54
Amount spend on transportation (Y)
Amount spend on
transportation (Y)
Line graph
April
May
June
July
August
September
October
November
December
January
0
10
20
30
40
50
60
50
55
45
55
42
47 51 53 55 54
Amount spend on transportation (Y)
Amount spend on
transportation (Y)
Describing the steps of descriptive statistics
Steps to calculate mean
1. Sum all the amount mentioned pertaining to amount spend upon transport
2. Evaluate the number of observation
3. Apply formula: Sum of amount spend upon transport / number of months (Thoen and
et.al., 2020)
Month Amount spend on transportation (£)
Data Analysis Techniques - Victoria_4

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