Numeracy and Data Analysis

Numeracy and Data Analysis

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Arrangement of expenses data in tabular 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:....6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Data analysis relates to processes or mechanism of organizing, transforming, and
evaluating raw data/facts in order to obtain actionable, useful information that can assist
companies in making informed decisions. Through offering valuable observations and facts,
which are also provided in maps, photographs, tables, and diagrams, the technique helps to
decrease the risks associated with decision-making (Fagerland, Lydersen and Laake, 2017). The
study-report explores different key element is data analysis using the selected data of money
spend on transport during ten consecutive months. The study analyse data using mean approach,
median and mode, Standard deviation formula as well as linear forecasting model.
MAIN BODY
1. Arrangement of expenses data in tabular format:
Month Amount of money spent on transport
(in GBP)
Jan. 120
Feb. 170
Mar. 140
Apr. 170
May 210
June 120
July 190
Aug. 180
Sep. 220
Oct. 100
2. Presenting the above data using two different types of charts:
Line Chart: This is chart wherein broken line connects points describing variable values to
appropriate values of independent variable (Xia and Sun, 2017).