STATISTICS PROJECT - DOCUMENT
STATISTICS PROJECT
The balance is a interval, numerical and continuous variable. The ATM is a ratio, numerical, discrete variable. Services is a ratio, numerical, discrete variable. Debit, interest and city are a categorical, nominal variable. As the graph, shows below, the balance of the typical customer, otherwise known as the mean is equal to 1499.87. 12 customers have more than $2,000 in their account. This number is relatively high because the account balances tend to cluster between $1,000 and $2,250. The standard deviation of the checking account balances 596905 and the range is 2525. The first quartile shows that 25 percent of the data are lower 1122.50 and the third quartile shows that 75 percent of the data are lower 1935.50. The standard deviation is the positive square root of the variance. It is a measure of variability used in statistics. It shows how much variation exists from the average. A low standard deviation indicates that the data points tend to be very close to the mean, whereas high standard deviation indicates that the data points are spread out over a large range of values.
For the checking balances the mean is 1499.87 while the median is 1604.50. The highest mean and median is in Atlanta, followed by Erie, then Louisville and finally Cincinnati. Atlanta has a high mean and median compared to the other cities who have means and medians that are relatively close in value. All four cities, have different numbers of accounts so it is hard to compare them. The median of a data is the middle number when the set is sorted in numerical order and the mean is the average value of a data. It is reasonable that the distribution of checking account balances approximates a normal distribution because the sample size is bigger than 30. The mean is 1499.87. The actual distribution is a sample distribution with actual data while the theoretical is just an assumption. As the graph below shows, both are relatively
The balance is a interval, numerical and continuous variable. The ATM is a ratio, numerical, discrete variable. Services is a ratio, numerical, discrete variable. Debit, interest and city are a categorical, nominal variable. As the graph, shows below, the balance of the typical customer, otherwise known as the mean is equal to 1499.87. 12 customers have more than $2,000 in their account. This number is relatively high because the account balances tend to cluster between $1,000 and $2,250. The standard deviation of the checking account balances 596905 and the range is 2525. The first quartile shows that 25 percent of the data are lower 1122.50 and the third quartile shows that 75 percent of the data are lower 1935.50. The standard deviation is the positive square root of the variance. It is a measure of variability used in statistics. It shows how much variation exists from the average. A low standard deviation indicates that the data points tend to be very close to the mean, whereas high standard deviation indicates that the data points are spread out over a large range of values.
For the checking balances the mean is 1499.87 while the median is 1604.50. The highest mean and median is in Atlanta, followed by Erie, then Louisville and finally Cincinnati. Atlanta has a high mean and median compared to the other cities who have means and medians that are relatively close in value. All four cities, have different numbers of accounts so it is hard to compare them. The median of a data is the middle number when the set is sorted in numerical order and the mean is the average value of a data. It is reasonable that the distribution of checking account balances approximates a normal distribution because the sample size is bigger than 30. The mean is 1499.87. The actual distribution is a sample distribution with actual data while the theoretical is just an assumption. As the graph below shows, both are relatively