Numeracy and Data Analysis: Wind Speed Analysis & Forecasting in UK

This assignment focuses on numeracy and data analysis, specifically analyzing wind speed data collected in the UK over a 10-day period. The assignment involves representing the raw data in table and chart formats, calculating descriptive statistics such as mean, mode, median, range, and standard deviation, and using a linear forecasting model to predict future wind speeds. The steps for each calculation are clearly outlined, providing a comprehensive understanding of the statistical methods applied. The report concludes by summarizing the importance of these calculations in data analysis and forecasting.

NUMERACY AND
DATA ANALYSIS
INDIVIDUAL
ASSIGNMENT

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Representing the raw data in the table format.............................................................................3
Presenting the data in chart format..............................................................................................4
3. Calculate the following and state the steps..............................................................................4
4. Compute the values using the linear forecasting model..........................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
The report prepared as under takes in account explanation related to data analysis that is
performed for analysing and evaluation of performance carried out by certain company or
business. It further collects data in a accurate and reliable manner such that it would be helpful in
decision making process as well. In the report prepared under the data is taken on the basis of
Wind speed recorded in UK for a certain period of time, it also counts computation of mean,
median, mode and standard deviation as wel(Sullivan, 2018)
l.
TASK
Representing the raw data in the table format.
Day
(x) wind speed
1 11
2 13
3 13
4 12
5 15
6 15
7 15
8 11
9 18
10 19

Presenting the data in chart format.
3. Calculate the following and state the steps.
Mean: It can be defined as a term that is helpful in calculation of statistics and in mathematics as
well. It can be said as a measure which is useful in evaluating central tendency in terms of
statistical distribution that is taken in account mode and median as well. It can also be said and
stated as expected value too. Hence, mean can be termed as a state that counters a broad meaning
in areas that are related to finance(Ault, Plaza and Paratz, 2018)
 . It is applicable and useful in various finance related sectors.

Steps involved for computation of Mean:
1. First step that is counted in calculation of mean is to add all the figure that are
present in form of series.
2. The result obtained after addition, afterward is divided by total number of
digits which form series.
Mean = Sum of individual item/ Total no of days
= 142/10
= 14.2
 Mode: It can be defined as a activity which is carried out on a constant basis in a series. If
more than one value occurs over a multiple time in a series the higher value is given more
preference and thus chosen. It then is helpful in examining data which is categorical and
provides guidance for determining central tendency so recorded. It contributes in finding
alternative ways which would help in maximising and improvement of effectiveness and
efficiency of business and its working as well. (Pelissari and et.al., 2020)
Steps involved in computation of mode:
Step 1: At initial stages, sorting of data is done for understanding it in a quick
manner and better way as well.
Step 2: After sorting of data in available series it helps to find which number
occurs on a frequent basis.
Step 3: Search it there is only number present in the series formed or more than
that.
Step 4: If there are more than one digit present in the series then higher digit
would be given more preference and would be selected.
Mode = the repetitive term recorded in series.
The mode in the given wind speed is 15.
 Median: The median is the mid value which signifies the data about the entire
population. The median can be computed differently in case of even and odd
observations. In case of even observations, the data can be computed by n+1/2

and in case of odd observations n/2 formula will be applied. The median is not
affected by the extreme values. The steps for calculating median are as follows :
Step-1: sort the data in ascending to descending order.
Step-2: Observe whether the data is even or odd.
Step-3: in case the data is even, apply the formula n+1/2 and in case of odd
observations, n/2 will be applied.
Step-4: The median will reflect the exact mid value of the complete data set.
Median = n+1/2
The median for the above data set will be 14.
 Range: It is the measure of standard deviation which helps to find the extreme value. It
can be computed by taking the difference of highest and lowest value(Al-Janabi, 2021)
. It is computed in the same way, the data is firstly arranged in sequenced manner then the
formula will be applied. The steps for calculating range can be described as given below:
Step-1: Firstly arrange the data in ascending to descending order.
Step-2: Then observe the highest and the lowest number.
Step-3: find the difference between the highest and lowest values.
Range = highest value – lowest value
= 19-11
= 8
 Standard deviation: It is used in computation of the value which are dispersed from the
actual mean. The lower standard deviation reflects that the data is less dispersed from the
actual mean. The higher standard deviation shows that the data is widely
dispersed(Pandika and et.al.,2022)
. The steps for calculating standard deviation are as follows:
Step-1: the first step is to compute the mean.
Step-2: find the square of every digit and its relation with the mean value.
Step-3: find the sum of all the values obtained in the step2.
Step-4: Calculate the square root and finally assign the values in the formula.
Standard deviation = √ (xi – μ)2 / N
= 2.6

4. Compute the values using the linear forecasting model.
a.) Steps for computing the value of m
1. The number of days and wind speed is multiplied.
2. The sum of all the multiplied values is determined.
3. Then both the variables are added individually.
= 10* 834 – 55*142 / 10 * 55- 55
= 8340 – 7810 / 30250 – 3025
= 530 / 27225
= 0.0194
b.) Computation of c values :
Step-1: it is computed by summing the values of wind
Step-2: Find the value of x which is number of days.
Step-3: The number of days are multiplied by m.
Step-4: The difference is found between the number of days and wind speed and divided
by N which is number of days.
= 142- 55*/10
= 0.01946
CONCLUSION
From the above prepared report, it can be concluded that there are many steps involved in
calculation of descriptive statistics. In the report above wind speed information is collected
for a time period of 10 days consecutively that is useful in ascertaining the forecasted
windspeed fort day 11 and 13 as well.

REFERENCES
Books and Journals
Sullivan, M., 2018. Statistics: Informed decisions using data. Prentice Hall/Pearson.
Ault, P., Plaza, A. and Paratz, J., 2018. Scar massage for hypertrophic burns scarring—A
systematic review. Burns, 44(1), pp.24-38.
Pelissari, R., and et.al., 2020. SMAA methods and their applications: a literature review and
future research directions. Annals of Operations Research, 293(2), pp.433-493.
Al-Janabi, S., 2021, October. Overcoming the Main Challenges of Knowledge Discovery
through Tendency to the Intelligent Data Analysis. In 2021 International Conference on
Data Analytics for Business and Industry (ICDABI) (pp. 286-294). IEEE.
Pandika, D., and et.al., 2022. Young adult opioid misuse indicates a general tendency toward
substance use and is strongly predicted by general substance use risk. Drug and Alcohol
Dependence, p.109442.