List The Importance of Data Analysis in Daily Life

PART 1: 1. List the importance of data analysis in daily life.
Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of highlighting useful information, suggesting conclusions, and supporting decision making. Data analysis has multiple facts and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains. Data analysis is used in our daily life for the following field :

Analytics Business intelligence Censoring (statistics) Computational physics Data acquisition Data governance Data mining Data Presentation Architecture Digital signal processing Dimension reduction Early case assessment Exploratory data analysis Fourier Analysis Machine learning Multilinear PCA Multilinear subspace learning Nearest neighbor search Predictive analytics Principal Component Analysis Qualitative research Scientific computing Structured data analysis (statistics) Test method Text analytics Unstructured data Wavelet
2. (a) Specify (i) three types of measure of central tendency
Measures of Central Tendency Introduction A measure of central tendency is a single value that attempts to describe a set of data by identifying the central position within that set of data. As such, measures of central tendency are sometimes called measures of central location. They are also classed as summary statistics. The mean (often called the average) is most likely the measure of central tendency that you are most familiar with, but there are others, such as the median and the mode. The mean, median and mode are all valid measures of central tendency, but under different conditions, some measures of central tendency become more appropriate to use than others. In the following sections, we will look at the mean, mode and median, and learn how to calculate them and under what conditions they are most appropriate to be used. Mean (Arithmetic) The mean (or average) is the most popular and well known measure of central tendency. It can be used with both discrete and continuous data, although its use is most often with continuous data (see our Types of Variable guide for data types). The mean is equal to the sum of all the values in the data set divided by the number of values in the data set. So, if we have n values in a data set and they have values x1, x2, ..., xn, the sample mean, usually denoted by bar), is: (pronounced x
This formula is usually written in a slightly different manner using the Greek capitol letter, pronounced "sigma", which means "sum of...":
You may have noticed that the above formula refers to the sample mean. So, why have we called it a sample mean? This is because, in statistics, samples and populations have very different meanings and these differences are very important, even if, in the case of the mean, they are calculated in the same way. To acknowledge that we are calculating the population mean and not the sample mean, we use the Greek lower case letter "mu", denoted as :
An important property of the mean is that it includes every value in your data set as part of the calculation. In addition, the mean is the only measure of central tendency where the sum of the deviations of each value from the mean is always zero. Median The median is the middle score for a set of data that has been arranged in order of magnitude. The median is less affected by outliers and skewed data. In order to calculate the median, suppose we have the data below: 65 55 89 56 35 14 56 55 87 45 92
We first need to rearrange that data into order of magnitude (smallest first): 14 35 45 55 55 56 56 65 87 89 92
Our median mark is the middle mark - in this case, 56 (highlighted in bold). It is the middle mark because there are 5 scores before it and 5 scores after it. This works fine when you have an odd number of scores, but what happens when you have an even number of scores? What if you had only 10 scores? Well, you simply have to take the middle two scores and average the result. So, if we look at the example below: 65 55 89 56 35 14 56 55 87 45
We again rearrange that data into order of magnitude (smallest first):
14
35
45
55
55
56
56
65
87
89
92
Only now we have to take the 5th and 6th score in our data set and average them to get a median of 55.5. Mode The mode is the most frequent score in our data set. On a histogram it represents the highest bar in a bar chart or histogram. You can, therefore, sometimes consider the mode as being the most popular option. An example of a mode is presented below:
(ii) at least two types of measure of dispersion
Dispersion In statistics, there are many techniques that are applied to measure dispersion. 1.Range: Range is the simple measure of dispersion, which is defined as the difference between the largest value and the smallest value. Mathematically, the absolute and the relative measure of range can be written as the following: R= L - S
Where R= Range, L= largest value, S=smallest value
2.Quartile deviation: This is a measure of dispersion. In this method, the difference between the upper quartile and lower quartile is taken and is called the interquartile range. Symbolically it is as follows:
Where Q3= Upper quartile Q1= Lower quartile
3.Standard Deviation: In the measure of dispersion, the standard deviation method is the most widely used method. In 1983, it was first used by Karl Pearson. Standard deviation is also known as root mean square deviation. Symbolically it is as follows: Where =Deviation
(b) For each type of measure of central tendency stated in (a), give examples of their uses in daily life.
MEAN Mean can be used to see the average mark of the class obtained. This average helps to see how many students are above average, how many are average students and how many are below averages. The teacher tries to help the average and below average students to score more grades in future. The family finds the average of their expenses to balance their finance. T The average production of agricultural commodities, the industrial goods, the average exports and imports help the country to see their developments. MEDIAN Median is used to find the students who score less or more than the middle value. Median is used to find the students who score less or more than the middle value. Median is calculated to find the distribution of the wages. It is calculated to find the height of the players, in the points scored by players in a series of matches., to find the middle value of the ages of the students in a class etc.Median also determines the poverty line.
MODE It is used to calculate the frequency of the arrival of the public transport, the frequency of the games won by a team of players. The mode is also seen in calculation of the wages, in the number of telephone calls received in a minute by the telephone department, the frequency of the visitors, the frequency of the patients visiting the hospitals, the mode of travel etc.

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PART 1: 1. List the importance of data analysis in daily life.

2. (a) Specify (i) three types of measure of central tendency

We again rearrange that data into order of magnitude (smallest first):

(ii) at least two types of measure of dispersion

Where R= Range, L= largest value, S=smallest value

Where Q3= Upper quartile Q1= Lower quartile

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