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Unformatted text preview: W8”? , median, mode ~ raw, ,‘née/sgmrée mryz ,
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P ‘ S‘Warv‘ Mei/35659“ (>13; wklch {00L Com dpg'grgbug +149 cgwter‘, ‘Hﬂé Sprawl;
and 1H“? ﬂiewngs Data 001ng (gox rawh— wl‘t‘ﬂzer {lift Econ4l & The obj ective of this exercise is to review the concepts of sample mean, median, sample
standard deviation, sample variance, quartiles, percentiles, mode, min and max as well as
the construction of some of the graphs studied in class. The following data taken from the printed edition of the economist Oct 8th 2005, presents
information of percentage change on year ago of the consumer price index for some
emerging countries. Consumer
prices, %
change on year China
Hong Kong
India
Indonesia
Malasya
Philippines
Singapore
South Korea
Taiwan
Thailand
Argentina
Brazil
Chile
Colombia
Mexico
Peru
Venezuela
Egypt
Israel Suth Africa
Czech Republic
Hungary
Poland
Russia
Turke 8 When we start working it is good to ﬁrst order the data Consumer
prices %
change year Venezuela
Russia
Argentina
Indonesia
Turkey
Philippines
Thailand
Brazil
Colombia
Egypt
Mexico
Chile Suth Africa
Malasia
Hungary
India
Taiwan
South Korea
Czech Republic
lsrael
Poland
China
Hong Kong
Peru Sin a ore Mode: The most commonly occurring observation(s): 1.3, 1.6, 3.9, 6.0 n: Number of observations: 25 Sample Mean: 3( = 12x, : 4.81
’7 i=1 Medlan: 1f n IS odd plck the element on the (n + ) posmon, if n 18 even ple the element 2
2+(n‘+2) 2—2u position: 3.9 on the Q1: Median of all observations whose position is strictly below the position of the
median: 1.65 Q3: Median of all observations whose position is strictly above the position of the
median: 6.5 X—percentile: Smallest value such that x% of the data is smaller or equal to this value, the
_ . . . o _ .
80 percentile IS. 7.0 S )()5 t 20 I Ltls PWHPPMQS. (0°
Max: Largest observation: 15.9 HQNX . the VRWE lb 7‘0 Min: Smallest obsservation: 0.7
Five number summary: (Min, Q1, Med, Q3, Max) =(0.7, 1.65, 3.9, 6.5, 15.9)
Range: MaxMin: 15.2 IQR (Interquartile Range): Q3Q1: 4.85
Sample standard deviation: s)c = i—} = 3.8 Need {27 mmeMW the "‘1 i:
1 'i°*‘ PDPMLoiFon variance W 1 _ Standard o‘er/ration .
Sample Variance: s: 2 2(13. —X = 15.45 M n —1 i=1 1 I _ _ 7.
0} 1': W i; [IXV’ Box Plot , "‘1
Q1, Med, Q3, IQR: (1.65, 3.9, 6.5, 4.85) V; ’ J {R Ql 1.5*IQR: —5.625 Q3 + 1.5*IQR: 13.775
wiles! Leela Tamer few! in our WM: bOOF ‘5 Left —hand whisker: Smallest observation that is no smaller than Q1  1.5*IQR: 0.7 I
. a, we . . .
and up?” M" g a 1ght —hand whisker: Largest observatlon that is no larger than Q1 + 1.5*IQR:
M 0‘" ﬁxebook 12.40
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CNN Dm‘w e, u sueva ues serva ions on 1 e ew 1 ers l OI .3“ GM, tateme Connect observations with box and plot outside values.
I a Box Plot Consun‘er prices % ch *Do not get confuse because I draw a vertical dot plot, remember that it could be vertical or horizontal W /
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 Spring '08
 cunningham

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