Term Paper on
Statistical Functions
Mean, Median, Mode, Standard deviation, Correlation,
Histogram, Frequency polygon.
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Term paper on
Statistical Functions
Mean, Median, Mode, Standard deviation, Correlation,
Histogram, Frequency polygon.
Submitted to:
Ms. Halima Akhter
Assistant Professor
Department of Business Studies
Faculty of Business
Submitted by:
Subhan Mahmud Emal
Id: 2115101036
Section A
BBA 51 Batch
Department of Business Studies
Faculty of Business
Date of Submission: 19 th December, 2021.
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December 19,2021
Ms. Halima Akhter
Department of Business Studies
Faculty of Business
University of Information Technology and Sciences
Subject: Submission of Report
Dear Madam,
We are pleased to submit the Term Paper on Statistics, which is a requirement of this
course.
In the process of preparing this report, I learnt many things about Statistics, which have
enhanced our knowledge in many ways. However, I hope you will find this report
objective and accurate. I appreciate this opportunity to learn that you have provided me.
Preparing this report has been a pleasant learning experience for all of us. If you need
further clarification on any topic regarding our report, please contact us any time at your
convenience.
I, therefore, would like to request you to accept our report and oblige thereby.
Faithfully yours
Subhan Mahmud Emal
Section A
Department of Business Studies
3
Acknowledgement
First of all, we express our deepest gratitude to almighty Allah for his infinite grace
that allows us to complete our Term Paper on Business Statistics, on the topic of
Statistical Functions as part of our BBA program. I wish to express our gratitude,
profound regard and sincere appreciation to our respected teacher MS. Halima
Akhter, Assistant Professor of the Department of Business. Her scholarly guidance,
constant and keen supervision, encouragement and valuable advicehelped us a various
way during the entire phase of the work.
Our course teacher MS. Halima Akhter tried his best to make the course
understanding and interesting. I am indebted to our course teacherbecause he has
made the entire concept regarding Statistics for us to match our theoretical knowledge
and that of who has practical knowledge.
Lastly, a heartfelt thanks to my classmates for providing the material fromdifferent
sources that helped us in completing this term paper.
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Table of Content
Seral Number Topics Page
Chapter -2 Describing data: Graphical Presentation 6-7
Chapter -3 Describing data: Numerical Measures 8-11
Chapter -13 Correlation and linear regression 11-13
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Chapter 2
Bar Chart:
A graph that shows qualitative classes on the horizontal axis and the class frequencies
on the vertical axis. The class frequencies are proportional to the heights of the bar.
Pie Chart:
A chart that shows the proportion or percentage that each class represent of the
total number or frequencies.
Histogram:
A histogram is a graphical display of data using bars of different heights. In a histogram,
each bar groups numbers into ranges. Taller bars show that more data falls in that range.
A histogram displays the shape and spread of continuous sample data.
Frequency Polygon:
Frequency polygons are a graphical device for understanding the shapes of
distributions. They serve the same purpose as histograms, but are especially helpful for
comparing sets of data. Frequency polygons are also a good choice for
displaying cumulative frequency distributions.
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Table:
Imports ($ millions) Midpoint Number of supplier
2 up to 5 3.5 6
5 up to 8 6.5 13
8 up to 11 9.5 20
11 up to 14 12.5 10
14 up to 17 15.5 1
Histogram
25
20
20
number of suppliers
15 13
10
10
6
5
1
0
2 up to 5 5 up to 8 8 up to 11 11 up to 14 14 up to 17
imports($million)
Frequency Polygon
25
20 20
Frequency
15
13
10 10
6
5
1
0
0 2 4 6 8 10 12 14 16 18
Midpoints
7
Chapter 3
Mean
The mean of a data set is found by adding all numbers in the data set and then dividing
by the number of values in the set.
Types of Mean:
1. Arithmetic Mean:
∑𝑋
Sample Mean x =
𝑛
∑𝑋
Population Mean µ =
𝑁
2. Geometric Mean:
1
Geometric Mean (GM) = (𝑋1 )(𝑋2 )(𝑋3 )(𝑋𝑛 )𝑛
3. Weighted Mean:
𝑊 𝑋 + 𝑊 𝑋 + 𝑊 𝑋 + …+ 𝑊𝑛 𝑋𝑛
Weighted Mean 𝑋𝑊 = 1 1 2 2 3 3
𝑊1 + 𝑊2 + 𝑊3 + …+ 𝑊𝑛
Median:
The median is the middle value when a data set is ordered from least to greatest.
Even:
1 𝑛 𝑛
Me = 2 {2 𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛 + (2 + 1) 𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛}
Odd:
𝑛+1
Me = 2
𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛.
Mode:
The mode is the number that occurs most often in a data set.
8
Standard deviation:
The standard deviation is a measure of the amount of variation or dispersion of a set of values.
Page 89, problem-72
Mean:
∑𝑥
x̄ =
𝑛
3160
=
28
= 112.86
Ans.
Ascending order
96,98,103,106,106,106,107,108,109,109,111,112,112,112,112,115,115,116,116,116,116,118,
121,122, 123,124,124,127.
Median:
1 𝑛 𝑛
Me = 2 {2 𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛 + (2 + 1) 𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛}
1 28 28
= { 𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛 + ( + 1) 𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛}
2 2 2
1
= {14𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛 + (14 + 1)𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑜𝑛}
2
1
= {14𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑏𝑎𝑡𝑖𝑜𝑛 + 15𝑡ℎ 𝑜𝑏𝑠𝑒𝑟𝑏𝑎𝑡𝑖𝑜𝑛}
2
1
= {112 + 112}
2
1
= {224}
2
224
=
2
=112
Ans.
9
Mode:
112,116
Standard Deviation:
Table:
x x x- x̄ (x − x̄ )2
96 112.8571 -16.8571 284.1618204
98 112.8571 -14.8571 220.7334204
103 112.8571 -9.8571 97.16242041
106 112.8571 -6.8571 47.01982041
106 112.8571 -6.8571 47.01982041
106 112.8571 -6.8571 47.01982041
107 112.8571 -5.8571 34.30562041
108 112.8571 -4.8571 23.59142041
109 112.8571 -3.8571 14.87722041
109 112.8571 -3.8571 14.87722041
111 112.8571 -1.8571 3.44882041
112 112.8571 -0.8571 0.73462041
112 112.8571 -0.8571 0.73462041
112 112.8571 -0.8571 0.73462041
112 112.8571 -0.8571 0.73462041
115 112.8571 2.1429 4.59202041
115 112.8571 2.1429 4.59202041
116 112.8571 3.1429 9.87782041
116 112.8571 3.1429 9.87782041
116 112.8571 3.1429 9.87782041
116 112.8571 3.1429 9.87782041
118 112.8571 5.1429 26.44942041
121 112.8571 8.1429 66.30682041
122 112.8571 9.1429 83.59262041
123 112.8571 10.1429 102.8784204
124 112.8571 11.1429 124.1642204
124 112.8571 11.1429 124.1642204
127 112.8571 14.1429 200.0216204
∑(x − x̄ )2 = 1613.428571
Standard Deviation
∑(𝑥−𝑥)2
SD = √
𝑛
1613.42857
=√
28
= √ 57.60714
= 7.59
Ans:
10
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Chapter 13
The correlation coefficient is a statistical measure of the strength of the relationship
between the relative movements of two variables.
Features of Correlation Coefficient:
The values range between -1.0 and 1.0.
A calculated number greater than 1.0 or less than -1.0 means that there was an
error in the correlation measurement.
A correlation of(-.01)-(0.49) shows a weak negative correlation, while a
correlation of 0.1-0.49 shows a weak positive correlation.
A correlation of -0.5 shows a moderate negative correlation, while a correlation
of 0.5 shows a moderate positive correlation.
A correlation of (-0.6)-(-0.99) shows a Strong negative correlation, while a
correlation of 0.6-0.99 shows a strong positive correlation.
A correlation of -1.0 shows a perfect negative correlation, while a correlation of
1.0 shows a perfect positive correlation.
A correlation of 0.0 shows no linear relationship between the movement of the
two variables.
Page 458, Problem -17.
Table:
Sales(million)(x) Earnings(y) xy 𝒙𝟐 𝒚𝟐
89.2 4.9 437.08 7956.64 24.01
18.6 4.4 81.84 345.96 19.36
18.2 1.3 23.66 331.24 1.69
71.7 8.0 573.6 5140.89 64
58.6 6.6 386.76 3433.96 43.56
46.8 4.1 191.88 2190.24 16.81
17.5 2.6 45.5 306.25 6.76
11.9 1.7 20.23 141.61 2.89
19.6 3.5 68.6 384.16 12.25
51.2 8.2 419.84 2621.44 67.24
28.6 6.0 171.6 817.96 36
69.2 12.8 885.76 4788.64 163.84
∑𝑥 = 501.1 ∑𝑦 = 64.1 ∑𝑥𝑦 = 3306.35 ∑𝑥 2 =28459 2
∑𝑦 = 458.41
Pearson’s correlation:
𝑁∑𝑥𝑦−∑𝑥.∑𝑦
r = √[{𝑁(∑𝑥 2)−(∑𝑥)2 }{𝑁(∑𝑦2)−(∑𝑦)2 }]
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12(3306.35)−(501.1).(64.1)
= √[{12(28459)−(501.1)2 }{12(458.41)−(64.1)2 }]
39676−32120.51
= √[{341472−251101.21}{5500.8−4108.81}]
7555.69
= √[{90370.79}{1391.99}]
7555.69
= √[125795236]
7555.69
=
11215.85
= 0.67
Ans.
Interpretation:
Since r = 0.67 so that there exist positive strong linear association between sales and earnings.
Conclusion:
Mean, Median, Mode & Standard Deviation are interrelated. Correlation shows that
the nature of the data variables. Histogram & Frequency polygon indicates the
progress the graph we use for analysis.
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