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FIN10002 Financial Statistics-Inappropriate Techniques

Use data summary methods to describe the orders in your sample using eight variables – items 2 to 9 above. (Note: Do NOT do Order Id) Use an appropriate graphical and summary statistical technique, chosen according to the type of variable (note that less appropriate/inappropriate techniques will receive fewer/no marks). Choose your techniques from: Tabular Techniques: frequency tables and grouped frequency tables Summary Statistics: mode, median, mean, standard deviation, range, coefficient of variation and interquartile range Graphical Techniques: pie chart, bar graph, histogram, frequency polygon.

Do not draw an ogive curve, stem plot, or a box plot in this assignment and do not draw 3-D graphs.
1. For a nominal or an ordinal variable draw a graph and present a frequency table in percentages.
2. For a ratio or an interval variable draw a graph and a summary statistics table, including summary statistics appropriate to the type of distribution only.
3. Try to use variation in drawing graphs e.g. pie chart/bar chart or histogram/polygon.
4. Do not draw two different graphs for the same variable. You can draw the same type of graph for two variables.
5. Do not include any information that you will not include in your discussion such as kurtosis.
6. Display and describe one variable at a time.

Estimate the following quantities, using 95% confidence intervals. Explain the meaning of your confidence intervals.
1. The average sales amount of orders for the home office customers only.
2. The average shipping costs for all sample orders.Compare both intervals with their respective true means by calculating the actual population mean for the full 2002 orders, and comparing the population mean to the sample mean and confidence interval (note: it is not usual to do this, so you are asked to do this for the purpose of this
assignment).

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