lect3 - Graphical and Numerical Summaries Analyzing HSBC...

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Graphical and Numerical Summaries Outline Graphical and Numerical Summaries Histogram Shape of a Distribution Mean, Variance and SD Coefﬁcient of variation Quantiles Boxplots Analyzing HSBC Stock Prices The Empirical Rule Standardizing 1 / 23 ISOM 2500 Lect 3: Describing Numerical Data

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Graphical and Numerical Summaries Histogram Shape of a Distribution Mean, Variance and SD ISOM 111 Scores The analysis of data depends on the nature of your question. Managers/researchers/. .. have different questions and so will often approach a task differently. Consider the questions that might be asked about ISOM111 scores at HKUST. Student: Where do I place in the class? Professor: How does Section A compare with Section B? How does the performance of students from SBM compare with students from School of Science? Effective statistical summaries can make it easy to answer both types of questions much more precisely and concisely than from the raw scores themselves. 2 / 23 ISOM 2500 Lect 3: Describing Numerical Data
Graphical and Numerical Summaries Histogram Shape of a Distribution Mean, Variance and SD The ﬁrst column of the Excel ﬁle ISOM111.XLS consists of ISOM111 midterm exam scores in some of the past years. That’s one numerical variable with 252 observations, one row for each student. Let’s open this ﬁle with JMP. 1 What do you learn by looking directly at this column of 252 numbers? 1 Open this ﬁle with the JMP command File > Open. Select ﬁle type as Excel ﬁles (*.XLS). By saving this ﬁle as ISOM111.JMP, you can then open it by simply clicking on the ISOM111.JMP ﬁle. 3 / 23 ISOM 2500 Lect 3: Describing Numerical Data

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Graphical and Numerical Summaries Histogram Shape of a Distribution Mean, Variance and SD Graphical and Numerical Summaries JMP provides graphical and numerical summaries 2 of the 252 observations On the left are two graphical summaries of the data – a boxplot and a histogram. On the right are numerical summaries – various quantiles and moments. Let’s consider these one at a time and link the numerical summaries to the picture. 2 Use Analyze > Distribution with ISOM111 selected as the Y column. To get the horizontal layout shown next, right-click on ISOM111 and then select Display Options > Horizontal Layout. 4 / 23 ISOM 2500 Lect 3: Describing Numerical Data
Graphical and Numerical Summaries Histogram Shape of a Distribution Mean, Variance and SD Histogram A histogram is a visual display that reveals the location, dispersion, and shape of the data distribution. The basic idea is that the area of each rectangle is proportional to the number of values (frequency) in each interval or bin. 5 / 23 ISOM 2500 Lect 3: Describing Numerical Data

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Graphical and Numerical Summaries Histogram Shape of a Distribution Mean, Variance and SD General shape characteristics (Like for categorical data,) a mode of a numerical variable identiﬁes the position of an isolated peak in the histogram.
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lect3 - Graphical and Numerical Summaries Analyzing HSBC...

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