Monday, 16 September 2013

Group No. 5: Formulas to be used in Excel by Preshita Chaurasiya

Formulas to be used in Excel:
  • Mean/ Average: Select the observation. Put =Mean(Range) and Enter.
  • Median: Select the observation. Arrange it in ascending order. Put =Median(Range) and Enter.
  • Mode: Select the observation. Put =Mode(Range) and Enter.
  • Variations: Observation less Mean of the range. Put =(Observation-Mean) and Enter.
  • Variations*2 / (Variations)^2:
  1. Put =Power((observation),2) and Enter                        OR 
  2. Put =(observation)^2 and Enter                                    OR 
  3. Put =(observation)*(observation) and Enter
  • Variance: Variance is average of Variations*2. Put =Mean(Range of Variations*2) and Enter.
  • Standard Deviation: Standard Deviation is the square root of Variance. Put =SQRT(Variance) and Enter.



Bar graph v/s Histogram - by Parul sukhlecha-PGDM 2013027

DIFFERENCE BETWEEN BAR GRAPHS AND HISTOGRAM
BAR CHARTS:
A BAR graph, is a way of showing a comparison of values. It is a chart wherein each bar is in proportion to the value that it represents. Bar graphs are used to help organize data and information.
Here is how to read a bar chart:
§  The columns are positioned over a label that represents a categorical variable
§  The height of the column indicates the size of the group defined by the column label
HISTOGRAMS:
A histogram allows a visual interpretation of data by indicating the number of data points that lie within a range of values, called a class.
The frequency of data that falls within each class is depicted by the use of bar.
Like a bar chart, a histogram is made up of columns plotted on a graph. Usually, there is no space between adjacent columns. Here is how to read a histogram.
  • The columns are positioned over a label that represents quantitative variable
  • The column label can be a single value or a range of values.
  • The height of the bar corresponds to the relative frequency of the amount of data in a class
The difference between bar chart and histogram:
§  Bar graphs measure the frequency of categorical data, and the classes for a bar graph are these categories. On the other hand, histograms are used for data that is at least at the ordinal level of measurement. The classes for a histogram are ranges of values
§  One implication of this distinction: it is always appropriate to talk about the skewness of a histogram; that is, the tendency of the observations to fall more on the low end or the high end of the X axis.

§  With bar charts, however, the X axis does not have a low end or a high end; because the labels on the X axis are categorical - not quantitative. As a result, it is less appropriate to comment on the skewness of a bar chart.