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

Descriptive statistics, find the average rate of increase in population whi...

find the average rate of increase in population which in the first decade has increased 20%.in the second 25% and in the third 44%

Calculation for discrete series or ungrouped data , Calculation for Discre...

Calculation for Discrete Series or Ungrouped Data The formula for computing mean is = where,          f  = fr

Eliminate all of the insignificant variables, The file Midterm Data.xls ha...

The file Midterm Data.xls has a tab labeled "Many vs. S&P" which presents historical price data for several assets, a volatility condition (VIDX = 1 if the NYSE volatility is grea

Coefficient of variation, Coefficient of Variation The standard dev...

Coefficient of Variation The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of vari

Calculate the one year interest rate, A.The coupon rate of Erie-Chicago Rai...

A.The coupon rate of Erie-Chicago Rail is 7%. The interest rate of Florida municipal bond with equal risk is 6%.  At what tax rate the two bonds are as good as each other B.Supp

Compute the sample mean and sample standard deviation, We want to investiga...

We want to investigate the income data.  In the Excel file Midterm  Data.xls there is a tab labeled "Income Data 2006".  The data in the tab is the income reported by 400 people in

Decision making ., it is said that management is equivalent to decision mak...

it is said that management is equivalent to decision making? do you agree? explain

Which average is to be used to describe statistical data?, There ar...

There are situations where none of the three averages is fully satisfactory. For example, if the number of items in a series is very small, none of these av

Chi square test, application of chi square test in civil engineering

application of chi square test in civil engineering

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