Box plot of income, Applied Statistics

Assignment Help:

The box plot displays the diversity of data for the income; the data ranges from 20 being the minimum value and 1110 being the maximum value. The box plot is positively skewed at 4.27 as the whisker at the top of the box is longer than the whisker at the bottom of the box, thus showing that there are more values at the top end of the box. The lower quartile is basically the 25th percentile which is 100; the median is the 50th percentile which is 120 and the upper quartile is 75th percentile which is 160.

519_box plot2.png

In relation to extreme data for income there are 58 outliers which have been identified on the box plot which deviate significantly from the rest of the distribution of the data:     

Outlier Value

Rows

1110

448

630

757

460

1200

450

1344

430

657

420

1379, 1416

400

1032

360

92, 1225

350

1187, 340, 1193

340

350, 56, 748, 1009

330

898, 903, 1170, 1191, 1143

320

121, 1188, 694, 373

310

345, 775

300

449, 974, 781, 872

290

176, 281, 1385

280

1247, 1171, 997, 485, 222, 181, 165

270

1413, 799, 80, 614, 1042, 1299

260

9, 23, 163, 260, 481, 674, 1210, 1322, 1370,1517

 


Related Discussions:- Box plot of income

Discriminant analysis, Discriminant analysis (DA) helps to determine which ...

Discriminant analysis (DA) helps to determine which variables discriminate between two or more naturally occurring groups. Mathematically equivalent to MANOVA, it ' is extensively

Geometric mean, Geometric Mean The geometric mean   of numbers is defin...

Geometric Mean The geometric mean   of numbers is defined as the th root of the product of numbers .It is obtained by multiplying all the values of a variable and then extracti

Admissibility, Admissibility A very common concept which is applicable ...

Admissibility A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and o

Regression, The 4 assumptions of regression: 1.       Variables are norm...

The 4 assumptions of regression: 1.       Variables are normally distributed 2.       Linear relationship between the independent and dependent variables 3.       Homosced

Expected average time, Question: A car was machine washes each car in 5 min...

Question: A car was machine washes each car in 5 minutes exactly. It has been estimated that customers will arrive according to a Poisson distribution at an average of 8 per hour.

Regression analysis , The data used is from a statistical software Minitab;...

The data used is from a statistical software Minitab; London.MPJ is the file that consists of 1519 households drawn from 1980 - 1982 British Family Expenditure Surveys. Data that i

business forecasting, Explain the characteristics of business forecasting

Explain the characteristics of business forecasting.

Simple linear regression, We are interested in assessing the effects of tem...

We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that

Statistical keys, Statistical Keys To do statistical o...

Statistical Keys To do statistical operations we must first set the calculator on SD mode [SD stands for "standard deviation" which is the usual st

Central tendency, Definition of Central Tendency The central tendency o...

Definition of Central Tendency The central tendency of a variable means a typical value around which other values tend to concentrate which can be measured. Such concentration

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd