ANALYTICAL SKILLS FOR BUSINESS

Analytical Skills for Business

Analytical Skills for Business

Question No. 1

One of the first steps that are performed in any statistical study is the tabulation of results, i.e., collect the sample information and summarized in a table, which we call frequency distribution, in which each variable value associated with it certain numbers representing the number of times it has appeared, their ratio with respect to other variable values, etc. Therefore, call a frequency distribution of data into classes grouping together with their frequencies: absolute frequencies, frequencies or frequency relative percentage. If the variables are at least ordinal scale optionally cumulative frequencies are absolute, and whisker percentage (Ott, 2003, 87). Frequency distributions vary depending on whether they correspond to a discrete variable or a continuous variable.

Question1

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

<= 687

1

2.1

2.1

2.1

686 - 755

2

4.2

4.2

6.2

756 - 823

1

2.1

2.1

8.3

824 - 892

14

29.2

29.2

37.5

893 - 960

16

33.3

33.3

70.8

961 - 1027

9

18.8

18.8

89.6

1028 - 1096

5

10.4

10.4

100.0

Total

48

100.0

100.0

The table above shows the frequency distribution for the given data set, according to my registration the third digit is 3, therefore, X is replaced by one. Further, the number has been grouped into the classes; there were 48 observations in total. We have divided the results of life of 100-watt light bulbs into 7 intervals, and count the number of results in each interval. In this case, the intervals are the length of life (in hours) of a sample of forty eight 100-watt light bulbs produced by a manufacturer.

Descriptive statistics can summarize the primary results obtained by observation or experiment. All calculations of descriptive statistics can be reduced to the grouping of data on their values, building a distribution of frequencies, identifying the central tendencies of the distribution and, finally, to estimate the scatter of the data relative to the central tendency was found. Submission of descriptive statistics is usually the first step of any analysis. The purpose of the data in the form of descriptive statistics draw conclusions and make policy (for analysis) solutions, based on available data (Trochim, 2006, 13).

Frequency Distribution Histogram

A histogram is a graph used to describe a frequency distribution. This graph is formed by a set of rectangles (for continuous variables) which are based on a horizontal axis (usually the axis or the X), and center points means of the classes. The widths of the classes and areas of rectangles are proportional to the frequency of classes. In the case of categorical variables graph consists of a set of vertical bars in place of rectangles, such that each rod on the observation respectively and with a height proportional to the frequency of observation.

The histogram above for the frequency distribution shows that maximum numbers of the frequencies i.e. 16 were observed in the fifth interval i.e. 893 - 960, the second highest frequencies i.e. 14 were observed in the 4th interval i.e. 824-892. However, the lowest frequencies were found in the 1st and 2nd interval, histograms are commonly used as their standard format makes them easy to understand and encourage communication between users, unfamiliar same statistical methods.

Question 2

Sales of 2010 model light trucks and sport ...