Numeracy and Data Analysis

Numeracy and Data Analysis

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Arrangement of expense data in table format:...................................................................3
2. Presenting the above data using two different types of charts:........................................3
3. Calculations and discussion of following:..........................................................................4
4. Linear forecasting model that is “y = mx + c” to calculate and discuss the followings:....7
Steps to calculate m value:.....................................................................................................7
Steps to calculate c value:.......................................................................................................7
Forecast the spending on transport on month 14 and month 16:............................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The method of gathering and arranging data in attempt to derive useful results from that
is known as data analysis. For extracting information from evidence, the method of data
processing employs empirical and rational reasoning. The study covers multiple aspects of data
analysis through different tasks (Chen, Ning and Shi, 2019). The study selects data of amount
spend towards transport for 10 consecutive months to apply different statistical methods like
mean, median, mode, SD including use of linear forecasting model.
MAIN BODY
1. Arrangement of expense data in table format:
Months Amount of money
you spend on
transport (in GBP)
January 90
February 120
March 110
April 150
May 170
June 80
July 190
August 180
September 120
October 100
2. Presenting the above data using two different types of charts:
Line Chart: Line chart is graph which shows variations in data using one or more lines, including
such trends, shifts, periods, rates of changes, as well as how datasets differ from one another
(Vialetto and Noro, 2020). In this regard following is line chart of amount spend on transport
during different months, as follows: