Professional Documents
Culture Documents
By:-
Shabana Shaikh 52
MMS -1 year
st
ACKNOWLEGDEMENT
Iwould like to express my special thanks of
gratitude to Prof-NADEEM M. who gave us the
golden opportunity to do this project of
Business Statistics. He helped us with valuable
suggestions and guidance in completing our
project. We came to know about so many new
things, we are really thankful..
INDEX
INTRODUCTION TO STATISTIC
MEASURES OF CENTRAL TENDENCY.
MEASURES OF DISPERATION.
DEFINITION OF STATISTIC
Statistic
is like a clay of which one can
make a god or devil.
Statistics are the liars of first orders.
Statistic can prove or disprove anything.
SUBDIVISIONS WITHIN STATISTIC
ADVANATAGES DISADVANATGES
Itsconcept is familiar It
is affected by the extreme
to most people. values in the data set.
Everydata set has Itsis tedious to calculate for
one & only one mean. large data.
Its
is useful for Itscannot be calculated for
comparison. grouped data with opened
classes.
MEAN
DEFINATION:-
The Mean is the Mathematical Average.
It is defined as the summation(addition) of
all the scores in your distribution divided by
the total number of scores.
Statistically, it is represented by M.
EXAMPLE
Median
DEFINATION:-
Median is a measure of central tendency
which gives the value of the middle most
observation in the data.
For finding the median of ungrouped data
we first arrange the data values of the
observation in ascending order and count
the total number of observations.
MEDIAN
ADVANTAGES DISADVANTAGES
Application of Qualitative
and Quantitative data. It is not based on every
observations.
It is not influenced by
present of extreme values. Its is not capable of algebraic
treatment.
It is especially useful in case
of continues series because Tends to be rather unstable
mid point is not used for value if the number of
calculation. observations is small.
Mode
The score in the distribution that occurs most frequently.
Least used of the measures of central tendency provides the
least amount of information.
MODE
ADVANTAGES DISADVANATGES
Easy to calculate & Some time no mode or
understand. more then one mode in
a given set of
Not effected by
distribution.
extreme value.
Not commonly used
Mode can be find by
Not used for further
qualitative and
quantitative. mathematically
calculation.
COMPARISION OF THE MEAN
MEDIAN MODE
MEASURES OF DISPERSION
DEFINITIONS
ADVANTAGES DISADVANTAGES
It is easy to understand and It cannot be calculated for
easy to calculate. a distribution with open
It gives a quick measure of ends.
variability. It is not based on all the
observations and it is very
much affected by extreme
observations.
It is not not capable of
being treated
mathematically.
INTERQUARTILE RANGE OR THE
QUARTILE DEVIATION
Interquartile range is used as measures of
dispersion. Interquartile range is the range of
middle 50% of observations. If the observations
of a distribution are more densely concentrated
around median, interquartile range will be less
than half of the range.Furthr, if they do not have
any concentration around median then
corresponding interquartile range will be wide
and will tend to be equal to half of the range.
QUARTILE DEVIATION
ADVANTAGES DISADVANTAGES
It is rigid defines and it It is very much affected by
is easy to understand. the fluctuations of sampling.
It is easy to compute. It is not capable of being
It can be calculated treated mathematically.
even for a distribution It is based on all the
with open ends. observation, not a reliable
measures of dispersion.
INTERFRACTILE RANGE
The interfractile range indicates the spread of the given data
between two fractiles in a frequency distribution. It may be
noted that different names are given to fractiles on the basic of
the fraction or division of the data they measure.
MEAN DEVIATION
The mean derivation is also known as the average deviation.it
is the average of absolute amounts by which the individual
items deviate from the mean. Since the positive deviations
from the mean are equal to the negative deviations, while
computing the mean deviation, we ignore positive and
negative signs.
MD- MEAN DEVIATION
|x|= deviation of an item from the mean * ignoring positive
and negative signs
n= the total number of observation
MERITS OF MEAN DEVIATION
ADVNTAGES DISADVANTAGES
Possible to calculate the Compare to other it is
combines standard difficult to compute.
deviation.
Itgives more weight to
Based on every item of
distribution. extreme values and
It is used most
less to those which
prominently in further near to mean.
statistics work.
RELATIVES DISPERATION