Numeracy and Data Analysis

Numeracy and Data
Analysis

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Data given in table format .......................................................................................................3
2. Analysing two types of chart ..................................................................................................3
3. Calculation of techniques.........................................................................................................4
4. Linear forecasting model.........................................................................................................8
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
Data analysis refers to the steps that involve gathering all information, processing it,
exploring the data and using to identify the pattern and other insights. This plays crucial role in
processing big data into useful information (Gupta and Pal, 2020). This helps in conducting
many activities and function to analyse the data to carry out certain further task and by using the
some techniques such as mean, mode, median and standard deviation. Apart from that
forecasting analysis of specific data trends based on past and present has been discussed to
predict the variable of upcoming time period to anticipated expenses and will lead to utilize and
allocate the plan and budget.
MAIN BODY
1. Data given in table format
Month Monthly
Expenses
Jan 4000
Feb 1000
March 3000
April 5000
May 2000
June 14000
July 9000
Aug 10000
Sep 11000
Oct 7000
2. Analysing two types of chart
Scatter chart- This is type of plot or mathematical diagram using coordinates to display
value for typically two variables for set of data. The data that is displayed as collection of points
are coded, one additional variable can be display as collection of points. They suggest plot of
various kinds of correlation between variable with interval (Pan and et.al., 2019).

0 2 4 6 8 10 12
0
2000
4000
6000
8000
10000
12000
14000
16000
4000
5000
6000
1000 1000
10000
11000
12000
14000
15000
Monthly Expenses
Line chart- This is graphical representation of an asset that use to connect the series of
data points with continuous line. This is most basic types of chart used in finance and typically
depicts closing price over time. This helps the traders with analysing line chart and due to its
simplicity and help in learning basic points and figure chart (Roskladka and et.al., 2018).
Jan
Feb
March
April
May
June
July
Aug
Sep
Oct
0
2000
4000
6000
8000
10000
12000
14000
16000
400050006000
10001000
10000
11000
12000
14000
15000
Monthly Expenses
3. Calculation of techniques
Mean- It is most important method of mathematical average of set of two or more
number and it is statistical indicator that used to gauge the performance of company's stock over