Descriptive Statistics Coursework Example

Student’s Name Instructor Course Date Descriptive Statistics The data collected is a sample because it only represents part of the prices of top selling perfumes, but not all the brands available. The two variables are the quantitative and qualitative variables. The name of the perfume is a qualitative variable, whereas the weight and price of perfumes are quantitative variables. Quantitative: The price and the weight of the perfumes. Qualitative: The brand of the perfumes. The brand of perfumes is discrete data whereas the price is continuous data The level of measurement of the brands of perfumes is nominal. The level of measurement of the weight is an interval. The price has an ordinal level of measurement. The Mean, Mode and Median of the Prices Mean Mean=Sum of values ÷The number of occurrences. If m = mean, m= (50.99+ 13.05+9.59+11.99+7.59+23.99+26.39+32.90+13.99+10.59+21.99+7.98+ 8.59) ÷ 13 = 18.43 Mode= Most occurring. The data lacks a modal price. Median = the middle value For the data provided, the prices would be arranged as follows from the smallest to the largest 7.59, 7.98, 8.59, 9.59, 10.59, 11.99, 13.05, 13.99, 21.99, 23.99, 26.39, 32.9, 50.99 The value 13.05 lies at the median point. The median value is therefore 13.05. Mean is the most appropriate measure of central tendency for the prices since it provides a viable estimate of the average price of perfume. The prices would be unevenly distributed, making the median price a misleading value. The mode would as well recur with values depending on many factors or would miss. However, each of the measures of central tendency has its unique significance. For instance, the mode if present would signify which price is most familiar with the perfume. The range of the values is given by:Range price=Highest value-Lowest value=50.99 - 7.59 =43.4 Standard deviation= √ (variance) α = √ { [∑ (X2) – (π2))] } (N) α= 12.68. The measure of spread most appropriate with th...