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MEASURES OF CENTRAL TENDENCY
STATICTICS
The word statistics refers to quantitative information
or to a method of dealing with quantitative
information.
2.00 -2.49 3
2.50 -2.99 0
3.00 -3.49 2
3.50 -3.99 1
Total 20
Making a Histogram Using a Frequency
Distribution Table
A histogram is a bar graph which shows frequency
distribution.
To make a histogram, follow these steps:
1.On the vertical axis, place frequencies. Label this
axis "Frequency".
2.On the horizontal axis, place the lower value of
each interval. Label this axis with the type of data
shown (price of birthday cards, etc.)
3.Draw a bar extending from the lower value of each
interval to the lower value of the next interval. The
height of each bar should be equal to the frequency
of its corresponding interval.
Example: Make a histogram showing the frequency distribution of
the price of birthday cards.
Histogram
A frequency polygon is a graph of frequency
distribution. It is particularly effective in comparing
two or more frequency distribution.
There are two way in which a frequency polygon
may be constructed:
1. we may draw histogram of the given data and
then join by straight lines the mid-point of the
upper horizontal side of each rectangle with the
adjacent rectangle.
2. anther method of constructing frequency
polygon is to take the mid-points of the various
class-intervals and then plot the frequency
corresponding to each point and to join all these
points by straight lines.
# Draw an ogive and determine the no.
of companies getting profits between
Rs. 45 crore and Rs. 75 crore.
OGIVE
75
PARETO CHART
It is a special type of vertical bar chart in which the
categorized responses are plotted in the descending
rank order of their frequencies and combined with a
cumulative polygon on the same graph.
SOLUTION:
Cipla was registered as a public ltd co. with authorized capital of rs.60000 million in 1935.operations
officially started in sept 1937.its products & services are categorized as prescription,animal health
care products etc.It now exports to countries in europe,america,africa,asia,mid-east,asia.it has won
“EXPRESS PHARMA PULSE AWARD” for “sustained growth” for 205-06.It overtook ranbaxy and
glaxosmithkline to become the largest pharmaceutical co. in the domestic market in 2007.
Mean= 8631.138889
HARMONIC MEAN
Based on the reciprocal of the numbers averaged.
Defined as the reciprocal of the arithmetic mean of the
reciprocal of the individual observation.
It can be written as
Applications of Harmonic
Mean
Useful for computing average rates
e.g. Average rate of increase of profits or
average speed at which any journey
has been performed.
Chemical,industrial & pharmaceutical laboratories(cipla)
Harmonic Mean = n
∑ 1/x
= 18/0.0061473
= 2928.1148
Merit and limitations
It is useful in special cases of averaging rates.
It can not be used when there are both
positive and negative observations or one or
more observations have zero values.
It is rarely used in business problems
The median may be defined as the middle or central value of
the variable when values are arranged in the order of
magnitude.
In other words, median is defined as that value of the variable
that divides the group into two equal parts, one part comprising
all values greater and the other all values lesser than the
median.
To measure the qualitative characteristics of data, other
measures of central tendency, namely median and mode are
used.
Positional averages, as the name indicates, mainly focus on
the position of the value of an observation in the data set.
UNGROUPED DATA:
1) If n(no. of observation) is odd, middle term of a series is size of ((n+1)/2)th term &
is the value of a median.
2) If n(no. of observation) is even, middle term of a series are (n/2)th and (n/2+1)th
terms . So, arithmetic mean of both the observations is our median.
GROUPED DATA:
MEDIAN=L+ [N/2-p.c.f]/F* I
Where L=lower limit of class
N=sum of all the frequencies
p.c.f=preceding cumulative frequency to median class
F=frequency of median class
i=class interval of median class
Chemical,industrial & pharmaceutical laboratories(cipla)
Cipla was registered as a public ltd co. with authorized capital of rs.60000 million in 1935.operations officially
started in sept 1937.its products & services are categorized as prescription,animal health care products etc.It
now exports to countries in europe,america,africa,asia,mid-east,asia.it has won “EXPRESS PHARMA
PULSE AWARD” for “sustained growth” for 205-06.It overtook ranbaxy and glaxosmithkline to become
the largest pharmaceutical co. in the domestic market in 2007.
SALES TURNOVER FROM 1989-2006
MEDIAN :
total observations(n)=18
median=(4525.8+5170.8)/2
=4848.3
MODE
UNGROUPED DATA:
Mode is that value which occurs the maximum no. of times
GROUPED DATA:
Mode=L+(f-f1)/(2f-f1-f2) *I
Where,
L=lower limit of modal class
f = frequency of modal class
f 1=frequency of class preceding the modal class
f 2=frequency of class succeeding the modal class
i=size of modal class
Chemical,industrial & pharmaceutical laboratories(cipla)
Cipla was registered as a public ltd co. with authorized capital of rs.60000 million in 1935.operations
officially started in sept 1937.its products & services are categorized as prescription,animal health care
products etc.It now exports to countries in europe,america,africa,asia,mid-east,asia.it has won “EXPRESS
PHARMA PULSE AWARD” for “sustained growth” for 205-06.It overtook ranbaxy and glaxosmithkline
to become the largest pharmaceutical co. in the domestic market in 2007.
SALES TURNOVER FROM 1989-2006 mode=0
RELATIONSHIP BETWEEN MEAN,MEDIAN &
MODE
*distribution in which values of mean,median,mode
coincide are symmetrical distribution.
*distribution in which values of mean,median,mode are not
equal are asymmetrical or skewed.
The distance between mean & median is approximately
one-third of the distance between the mean and mode.
Acc. To Karl Pearson :
Mean-median=1/3(mean-mode)
Mode=3median-2mean
Median=(2mean+mode)/3
QUARTILES
Partition values are measures that divide the data into several
equal parts. Quartiles divide data into 4 equal parts, deciles
divide data into 10 equal parts, and percentiles divide data into
100 equal parts.
Gaurav 80
Monika 84
Rituja 92
Jatinder 76
Abhi Jain 103
Id Mohammad