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Descriptive statistics - Coggle Diagram
Descriptive statistics
Median
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Example: $10000, $9000, $5000, $1000, $100, $5000 is the median
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Mean
Average value and is found by adding up the total of all values and dividing this by how many numbers there are
En/N : En- total of data, n- number of data
Quartiles
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- First quartile: contains first 25% of data (Q1)
- second quartile: contains low part of 50% data (Q2)
- Third quartile: contains the first 75% of the data (Q3)
Allows business to see distribution of data, using the interquartile range, Q3-Q1
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Bar charts
Used to show data that are independent of each other, such as the sales or region or the profit per product
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Infographics
‘Information graphics’, visual representations of data, may be charts or graphs or images that convey information in an easy to understand manner.