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Statistics for Business Phuc Thang Nguyen

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Added on  2023-05-05

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In this assignment we will discuss about statistics and below are the summaries point:-

  • Central tendency measures where the center of the data is located, such as mean, median, and mode.

  • Mean is the most popular measure but may not be the most precise due to extreme values.

  • Median is the middle value in an ascending or descending observation and is not affected by outliers.

  • Mode is the most frequently occurring value in a data set.

  • Spread measures how data spreads from its center point, such as range, variance, and standard deviation.

  • Range is calculated by the largest value minus the lowest value in a data set.

  • Variance measures how far data spreads from the center, and standard deviation is the square root of variance.

  • Skewness indicates the asymmetry of a data set, with positive skewness indicating more data on the right side.

  • Kurtosis measures how heavy or light a data set's tail is compared to normal distribution, with high kurtosis indicating many outliers and low kurtosis indicating too few extreme values.

 

Statistics for Business Phuc Thang Nguyen

   Added on 2023-05-05

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Student’s name: Phuc Thang Nguyen
Student’s ID: 20170603
Word count: 1147 words
Statistics for Business Phuc Thang Nguyen_1
Table of Contents
Task 1..........................................................................................................................................................3
Task 2..........................................................................................................................................................5
Task 3..........................................................................................................................................................5
Table of Figures and Tables
Figure 1: Scatter plot of LnAtaxInc and LnTexp.........................................................................................5
Figure 2: Contingency table of household head's gender and highest level of education.............................6
Table 1: Descriptive statistics of Alcohol, Meals, Fuel and Phone..............................................................3
Table 2: Box-Whisker plot of Alcohol, Meals, Fuels and Phone.................................................................4
Statistics for Business Phuc Thang Nguyen_2
Task 1
A. Two hundred and fifty sample households out of two thousand households are selected by simple
sampling method by using random-number generator in Excel. In detail, simple sampling method
is when samples are chosen by randomness (DeFusco, et al., 2015). As a result of random sample
selection, samples are not subject to desirable characteristics. Hence, simple sampling method is
not the best method if some attributes as gender, education levels are concerned. Instead,
stratified sampling method is more suitable if characteristic criteria are interested. Stratified
random sampling is when the population is classified into smaller groups based on characteristics
criteria (DeFusco, et al., 2015).
B.
Table 1: Descriptive statistics of Alcohol, Meals, Fuel and Phone
Alcohol Meals Fuel Phone
Mean
1201.888
0 Mean
1064.144
0 Mean 1893.6560 Mean 1412.0560
Standard
Error 83.0809
Standard
Error 66.5338
Standard
Error 111.5016
Standar
d Error 78.6624
Median 891.0000 Median 720.0000 Median 1290.0000 Median 1200.0000
Mode 0.0000 Mode 0.0000 Mode 1200.0000 Mode 1200.0000
Standard
Deviation
1313.624
2
Standard
Deviation
1051.991
7
Standard
Deviatio
n 1762.9946
Standar
d
Deviatio
n 1243.7614
Sample
Variance
1725608.
5416
Sample
Variance
1106686.
5334
Sample
Variance
3108149.873
2
Sample
Varianc
e
1546942.3
101
Kurtosis 1.6003 Kurtosis 4.8885 Kurtosis 5.2764 Kurtosis 13.9243
Skewness 1.3251 Skewness 1.9222
Skewnes
s 1.9297
Skewne
ss 2.8134
Range
6257.000
0 Range
6000.000
0 Range 12000.0000 Range
10800.000
0
Minimum 0.0000 Minimum 0.0000
Minimu
m 0.0000
Minimu
m 0.0000
Maximum
6257.000
0 Maximum
6000.000
0
Maximu
m 12000.0000
Maximu
m
10800.000
0
Sum
300472.0
000 Sum
266036.0
000 Sum 473414.0000 Sum
353014.00
00
Count 250.0000 Count 250.0000 Count 250.0000 Count 250.0000
Statistics for Business Phuc Thang Nguyen_3

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