LEARNERS MODULE IN BUSINESS MATHEMATICS

PRESENTATION AND ANALYSIS OF BUSINESS DATA

MODULE 5A: Tabular Presentation and Analysis of Business Data

TRADE DISCOUNT AND DISCOUNT SERIES

CONTENT STANDARD

The learners demonstrate an understanding of business data present them in graphs,

charts, and tables.

PERFORMANCE STANDARD

The learners are able to solve problems in real-life business situations, present data
in graphical form, and analyze them.

COMPETENCIES

The learners

1. show samples of business data (ABM_BM11PAD-IIg-1);

2. compare the forms (textual, tabular, and graphical) of data presentation
(ABM_BM11PAD-IIg-2);
3. identify the essential parts of a table (ABM_BM11PAD-IIg-3);
4. draw the table to present the data (ABM_BM11PAD-IIh-4); and
5. analyze and interprets the data presented in the table using measures of central
tendency and variability and tests of significant differences (ABM_BM11PAD-
IIh-5).

ESSENTIAL QUESTION

How is data presentation and analysis important in understanding business data?

ESSENTIAL SKILL

Presenting and analyzing business data through tables.

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EXPLORE

ACTIVITY 1. MEASURE ME!

A. Directions: Identify what measures of central tendency is being describe in each
of the following statements.
1. Mark wants to know about his average grade in all subjects in grade 11.
2. Joseph is a collector of shoes and he want to know what brand of shoes
does he collect most?
3. Alvin arrange the score of his students in the summative test, he want to
know the middle score.
B. Directions: Study the problems below and answer the questions that follow.
Angela, an 11th grader, made a survey on the daily allowance of her
classmates. The results are:
250 150 100 200 225 100 100 175 225 250
a. Find the mean allowance of her classmates.
b. What if Angela would like to know by how much allowances vary from the
mean? By how much are they different from the typical value?

DISCUSSION

Business Data

It is information used to plan and operate an organization. This includes source data
that a business collects and data that has been processed such as calculated metrics
and forecasts. Business data can be stored in databases that are machine-readable
or represented as information intended for human consumption such as interface,
document or report.

Common examples of business data

1. Leads & Opportunities - lists of potential customers
2. Customer - customer details such as name and address
3. Transactions - records of commercial transactions such as customer purchases
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4. Interactions - records of interactions with customers and other stakeholders such
as investors, employees and the media.
5. Social Media - data regarding your target markets or reputation that is collected
from social media sources
6. Product - a product catalog that captures the specifications of your products
7. Employee - employee data such as skill inventories, salary and performances
management data
8. Knowledge - information created by employees and partners that is stored as
documents and media
9. Communications - business emails and records of customer inquiries
10. Process - information that pertains to business processes such as
manufacturing products, fulfilling orders and supporting customers
11. Supply Chain - supply chain data such as tracking your inventory in storage
and transport
12. Partner - partner information such as data that s used to monitor the
performance of suppliers
13. Risk - data that is used to identify, analyze, and manage risk such as database
of historical construction projects that is used to estimate construction project risk
14. Market - market data such as information about prices offered by competitor
15. Industry - industry data such as market size and market share data for a product
category

Presentation of Data
It refers to the organization of data into tables, graphs, or charts, so that logical and
statistical conclusions can be derived from the collected measurements.
Data may be presented in three ways:
A. Textual
B. Tabular
C. Graphical
A. Textual Presentation
The data gathered are presented in paragraph form. The data are written and read. It
presents a combination of texts and figures.

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Example 1. Of the 150 samples interviewed, the following complaints were noted: 27
for lack of books in the library, 25 for a dirty playground, 20 for lack of laboratory
equipment, 17 for a not well-maintained university building.

B. Tabular Presentation
It presents a systematic organization of data in columns and rows. This method of
presenting data uses the statistical table.

Example 2.
SUMMER GETAWAYS NUMBER OF VISITORS
UNDERGROUND RIVER, PALAWAN 250
HOT SPRINGS, CAMIGUIN 130
CAMSUR, CAMARINES DEL NORTE 300
CHOCOLATE HILLS, BOHOL 120
PAOAY CHURCH, ILOCOS NORTE 200
TOTAL 1000

C. Graphical Presentation

Data presentation is in different kinds of graphs and diagrams.

Kinds of Graphs or Diagrams:

1. Bar Graph - used to show relationships/comparison between group

2. Pie Graph -shows percentages effectively
3. Line Graph - most useful in displaying data that changes continuously over time
4. Pictograph - uses small identical figures of objects called isotopes in making
comparison. Each picture represents a definite quantity.

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ACTIVITY 2. DATA, DATA

Directions: Answer the following questions:

1. Why is it important to visually present data?

2. How is Textual, Tabulation and Graphical representation different from
each other?

Preparing a table in presenting data makes them more understandable.

Major Parts of a Statistical Table:

1. Title. It is the main heading written on top of the table. It adequately describes
the contents of the table. Make the title concise in at most two lines.

2. Column Captions. It is the caption written as a vertical heading.

3. Row Captions. It is the caption written as a horizontal heading. They are the
entries at the left side of the table. It indicates the classification of the data.

4. Body. It is the main part of the table which contains the numerical information.

Minor Parts of a Statistical Table:

1. Prefatory Notes. It is a statement below the title enclosed in a parenthesis. It

usually describes the units of measurement used in the numerical information.

2. Footnotes. It is placed immediately below the main part of the table to provide
additional information.
3. Source Notes. It is written at the end of the table to acknowledge where the
information was taken. It is written below the footnote.
4. Table Number. Tables are usually numbered. The table numbers are used for
easy citation in your report, documents, or research paper.

ACTIVITY 3. TABLE IT!

Directions: Given the definition of the parts of a statistical table, place them properly
in the table below.

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Table Number Source Note Table Title

Column Header Row Classifier Body

1_________

General Rules of Tabulation

1. A table should be simple and attractive. There should be no need for further
explanation.
2. There should be proper and clear headings for columns and rows.
3. Suitable approximation may be adopted and figures my be rounded.
4. The unit of measurement should be well defined.
5. If the observations are large in number, they can be broken into two tables.
6. Thick lines should be used to separate the data under big classes of lines to
separate the sub classes of data.
Can you name instances when you encountered data presented in tables? But
when is it appropriate to use tables in data presentation? A comparison between table
and graph would be good so as to guide on which data presentation is appropriate is
appropriate to use.

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Tables vs Graphs
When to use tables When to use graphs
-there is a need to compare individual values -communicate a message that is
-values involve multiple units of measure contained in the shape of the data
-data presentation requires precise values -to reveal relationship among many
-to show how a single category of information values
varies when measured at different points -best for illustrating trends and making
comparisons

ACTIVITY 4. LOOK IT UP THE TABLE

A. Directions. Use the table below to answer the questions.
CONTINENT LAND AREA (SQ. NUMBER POPULATION
KM.) OF (2015)
COUNTRI
ES
ASIA 44,391,162 sq km 44 4,055,000,000
(INCLUDING MIDDLE EAST)
EUROPE 10,354,636 sq km 47 729,871,042
NORTH AMERICA 24,247,039 sq km 23 522,807,432
AUSTRALIA 7,686,884 sq km 14 20,434,176
(PLUS OCEANIA)
ANTARTICA 14,245,000 sq km 0 0
AFRICA 30,244,049 sq km 54 1,108,500,000
SOUTH AMERICA 17,821,029 sq km 12 379,919,602
Source: http://geography.about.com/od/lists/a/largecontinent.htm, date: 05
October 2016
1. Which continent has the largest area?
2. Which continent has the smallest area?
3. Which continent has the greatest number of countries?
4. Which continent has the biggest population?
5. Which continent has the smallest population?

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B. Directions: Make a table given the data with correct label.

Problem: The following is a list of shoes sizes of 35 boys.
7 5 4 4 6 5 4
8 5 5 4 3 5 6
5 3 6 3 2 8 5
6 6 7 4 7 4 5
4 4 2 5 5 6 4
Make a frequency table. Use the group 1-3, 4-6, and 7-9

Various tools and procedures can be used to organize a large set of data. To
understand the trends of the data set, it is advised to use a statistical table to present
the data.

There are two main columns on the table:

1. Category. The categories are the groupings of the data set. But when dealing with
a vast of quantitative data, the groupings are called class intervals.
2. Frequency. It represents how frequent a score occur within the grouping.
If the frequency percentage per category is essential, the relative frequency (𝑟𝑓)
can be added to the table:
𝑓
𝑟𝑓 = × 100%
𝑛
where 𝑓 is the frequency per category, and 𝑛 is the total number of data.

A grouped frequency table is a statistical table that summarized and describes a set
of data in class intervals.

The following are the steps in constructing a grouped frequency table:

1. From a set of quantitative data, determine the range. Range (R) is the
difference between the maximum entry and the maximum entry.
2. Decide on the number of class intervals (x). There is no hard rule in
choosing the number of class intervals. The desirable number of class
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intervals is 5 to 20. The choice is arbitrary. Avoid class intervals with no
entries or having so many classes with few entries for each grouping.
𝑅
3. Determine the class width (𝑖 = 𝑥 ) by dividing the range by the number

of class intervals. Round up the quotient. For example, 3.2 is rounded

up to 4. If the result is an integer, you can either add one to the number
of classes or add one to the class width.
4. You are now ready to construct the class intervals with lower and upper
limits. The first lower limit may be less than or equal to the minimum
entry. The first lower limit should be also be a number divisible by the
size width (𝑖). Continue to add the class witdth to this lower limit to get
the rest of the lower limits. Subtract one unit from the second lower limit
to get the first upper limit. Similarly, continue to add the class width to
this upper limit to get the rest of the upper limits. Note: When a data set
extremely small or large entries, and no lower/upper limit, it is advised to
do open-ended class intervals. This will avoid classes with zero
frequencies.
5. Find the class boundaries (𝑐. 𝑏) or also called the true limits. If the entries
are integers, subtract 0.5 unit from the lower limits and add 0.5 units from
the upper limits. If entries have one decimal value, subtract 0.05 from
the lower limit and add 0.05 to the upper limit. The boundaries are also
half-way between the upper limit of one class and the lower limit of the
next class.
6. Tally the scores falling within a class interval. The tally in each group is
called the frequency (𝑓).
7. Find the class mark (𝑋𝑚 ) or the midpoint of each class interval. It is the
𝑙𝑜𝑤𝑒𝑟 𝑙𝑖𝑚𝑖𝑡+𝑢𝑝𝑝𝑒𝑟 𝑙𝑖𝑚𝑖𝑡
average of the limits in a class interval. 𝑋𝑚 = 2

8. Find the relative frequency if needed. These are the percentages of

cases in each group.
9. Determine the less than cumulative frequency (𝑐. 𝑓. ) if needed. The first
c.f. is the same as the first frequency. To get the second, add the next 𝑓

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to the preceding c.f. and so on, until the last c.f. is the total number of
scores.
Example 3. The following scores are the examination ratings (in %) for 60 students in
a business course. Construct a frequency table with eight (8) class intervals.
46 57 59 64 56 50 70 62 68 79 63 54
60 51 58 37 68 35 50 74 39 75 67 69
40 52 65 45 59 70 73 84 54 42 44 63
40 63 64 45 70 41 56 49 64 76 80 78
58 54 65 62 55 55 52 81 83 84 85 53

1. R = max − min = 85 − 35 = 50
2. Desired number of class interval: x = 8
𝑅 50
3. 𝑆𝑖𝑧𝑒 𝑤𝑖𝑑𝑡ℎ: 𝑖 = 𝑥 = = 6.25, 𝑟𝑜𝑢𝑛𝑑 𝑢𝑝 𝑡𝑜 7
8

𝑐𝑖 𝑓 𝑐𝑏 𝑋𝑚 𝑅𝐹(%) < 𝑐𝑓
35-41 6 34.5-41.5 38 10 6
42-48 5 41.5-48.5 45 8.33 11
49-55 12 48.5-55.5 52 20 23
56-62 10 55.5-62.5 59 16.67 33
63-69 12 62.5-69.5 66 20 45
70-76 7 69.5-76.5 73 11.67 52
77-83 5 76.5-83.5 80 8.33 57
84-90 3 83.5-90.5 87 5 60
𝑖=7 𝑁 = 60 𝑇𝑜𝑡𝑎𝑙
= 100%

Example 4. The following data set lists the number of minutes 50 internet
subscribers spent during their most recent session. Construct a frequency
distribution that has seven classes. Find the class mark, relative frequency, and less
than cumulative frequency for each class.

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50 40 41 17 11 7 22 44 28 21 19 23 37 51 54 42 88

41 78 56 72 56 17 7 69 30 80 56 29 33 46 31 39 20

18 29 34 29 73 77 36 39 30 62 54 67 39 31 53 44

88 − 7 81
𝑐𝑙𝑎𝑠𝑠 𝑤𝑖𝑑𝑡ℎ = = = 11.57 𝑜𝑟 12
7 7

Frequency Distribution for Internet Usage (in minutes)

CLASS INTERVAL TALLY FREQUENCY
7-18 6
19-30 10
31-42 13
43-54 8
55-66 5
67-78 6
79-90 2

∑ 𝒇 = 𝟓𝟎

Solution:

The midpoint, relative frequency, and the cumulative frequency for the first two
classes are calculated as follows:

Class f Class Mark Relative cf

Frequency
7-18 6 7 + 18 6 6
= 12.5 = 0.12
2 50
19-30 10 19 + 30 10 6 + 10 = 16
= 24.5 = 0.2
2 50

The remaining midpoints, relative frequencies and less than cumulative frequencies
are shown in the following expanded frequency distribution.

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Frequency Distribution for Internet Usage (in minutes)

CLASS FREQUENCY CLASS RELATIVE <CUMULATIVE
INTERVAL (f) MARK FREQUENCY FREQUENCY
7-18 6 12.5 0.12 6
19-30 10 24.5 0.2 16
31-42 13 36.5 0.26 29
43-54 8 48.5 0.16 37
55-66 5 60.5 0.1 42
67-78 6 72.5 0.12 48
79-90 2 84.5 0.04 50

∑ 𝑓 = 50

Even in our everyday living, we always hear the word "average". People ask,
"What is your average monthly earnings? “Or "What is your average grade in school?"
What other statements you hear about averages? When we talk of "averages" we are
talking about measures of central tendency.

A survey was conducted among a group of students in ABC College. The

students were asked how many hours a day they spend in surfing the Web. The
table shows the results of the survey.

Hours Spent in Surfing the Web in a Day Number of Students

1 2
2 7
3 13
4 16
5 12

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Based on the results, we can conclude that the greatest number of students in
that group spends 4 hours a day in surfing the Web. While this conclusion is valid,
there are times when we need to have in other ways of quantitatively describing the
entire data. In statistics, one way of summarizing data is to use the measures of
central tendency; namely the mean, median and mode. We will discuss each of
those measures one by one, starting with the following formula for the mean of a set
data:

Formula for Determining the Mean

The mean 𝜇 (which is read as “myu”) of a set of data is obtained by dividing the sum
of all the data values by the number of data values. The mean may also be simply
referred to as the average.

If 𝑥1 , 𝑥2 , 𝑥3 , … , 𝑥𝑛 are the data values in a set data, then the formula for the mean is:
𝑥1 +𝑥2 +𝑥3 +⋯+𝑥𝑛
𝜇= 𝑛

Example 5. Finding the Mean

In Betty Book Publishing, the following are the employees’ monthly salaries:

Php 12,000 Php 12,000 Php 10,000 Php 9,000 Php 8,000

Php 8,000 Php 8,000 Php 7,000 Php 6,000

Find the mean of the given monthly salaries.

Solution:

The mean is computed by adding all the given monthly salaries, and then dividing
the result by 9; that is,

𝑥1 + 𝑥2 + 𝑥3 + ⋯ + 𝑥9
𝜇=
9

12,000 + 12,000 + 10,000 + 9,000 + 8,000 + 8,000 + 8,000 + 7,000 + 6,000

𝜇=
9

≈ 𝑃ℎ𝑝 8,888.89

Therefore, the mean monthly salary is about Php 8,888.89

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Formula for Determining the Median

The median 𝑴𝒅 of a set of data is either the middle data value or the average of the
two middle data values when the values are arranged in either increasing or
decreasing order. Specifically.

• if the number of data values is odd, then the median is the middle data value;
and
• if the number of data values is even, then the median is the average of the
two middle data values.

Example 6. Finding the Median

Determine the median of the given data in example 5.

Solution:

First, we have to arrange the data in increasing or decreasing order; that is,

₱6,000 ₱7,000 ₱8,000 ₱8,000 ₱8,000 ₱9,000 ₱10,000 ₱12,000 ₱12,000

1st 2nd 3rd 4th 5th 6th 7th 8th 9th

Since there are 9 values in all, the middle value is the 5th value. Thus, the median
monthly salary is ₱8,000.

Formula for Determining the Mode

The mode 𝑴𝒐 of a set of data is the data value or values that occur most frequently.
A given set of data may have no mode, one mode, or more than one mode.

Example 7. Finding the Mode

Determine the mode of the given data in example 6.

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Solution:

To find the mode, it is still better to arrange the data in either increasing or
decreasing order so we can easily see which values occur most frequently.

₱6,000 ₱7,000 ₱8,000 ₱8,000 ₱8,000 ₱9,000 ₱10,000 ₱12,000

₱12,000

As we can see above, ₱8,000 occurred the highest number of times (that is, 3
times). Hence, the mode of this data set is ₱8,000.

ACTIVITY 5. COMPLETE ME
Directions. Complete the table by finding the mean, median, and mode for each set of
data.

Set of Data Mean Median Mode

1. 25, 21, 37, 16, 21
2. 94,79,67, 94, 87,94,61,82,82,70
3. 1.2, 3.6, 2.5, 4.4, 3.5, 2.2,6.1

MEAN, MEDIAN MODE FROM GROUPED FREQUENCIES

Alex timed 21 people in the sprint race, to the

nearest second: 59, 65, 61, 62, 53, 55, 60, 70, 64,
56, 58, 58, 62, 62, 68, 65, 56, 59, 68, 61, 67

To find the Mean Alex adds up all the numbers, then divides by how many numbers:

Mean = 59 + 65 + 61 + 62 + 53 + 55 + 60 + 70 + 64 + 56 + 58 + 58 + 62 + 62 + 68 +
65 + 56 + 59 + 68 + 61 + 6721
= 61.38095...
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To find the Median Alex places the numbers in value order and finds the middle
number.

In this case the median is the 11th number:

53, 55, 56, 56, 58, 58, 59, 59, 60, 61, 61, 62, 62, 62, 64, 65, 65, 67, 68, 68, 70

Median = 61

To find the Mode, or modal value, Alex places the numbers in value order then counts
how many of each number. The Mode is the number which appears most often (there
can be more than one mode):

53, 55, 56, 56, 58, 58, 59, 59, 60, 61, 61, 62, 62, 62, 64, 65, 65, 67, 68, 68, 70

62 appears three times, more often than the other values, so Mode = 62

Grouped Frequency Table

Alex then makes a Grouped Frequency Table:

Seconds Frequency
51 - 55 2
56 - 60 7
61 - 65 8
66 - 70 4

So 2 runners took between 51 and 55 seconds, 7 took between 56 and 60 seconds,

etc.

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Oh No!

Suddenly all the original data gets lost (naughty pup!)

Only the Grouped Frequency Table survived ...

... can we help Alex calculate the Mean, Median and Mode from just that table?

The answer is ... no we can't. Not accurately anyway. But, we can make estimates.

Estimating the Mean from Grouped Data

So all we have left is:

Seconds Frequency
51 - 55 2
56 - 60 7
61 - 65 8
66 - 70 4

The groups (51-55, 56-60, etc), also called class intervals, are of width 5

The midpoints are in the middle of each class: 53, 58, 63 and 68

We can estimate the Mean by using the midpoints.

So, how does this work?

Think about the 7 runners in the group 56 - 60: all we know is that they ran
somewhere between 56 and 60 seconds:
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• Maybe all seven of them did 56 seconds,
• Maybe all seven of them did 60 seconds,
• But it is more likely that there is a spread of numbers: some at 56, some
at 57, etc

So we take an average and assume that all seven of them took 58 seconds.

Let's now make the table using midpoints:

Midpoint Frequency
53 2
58 7
63 8
68 4

Our thinking is: "2 people took 53 sec, 7 people took 58 sec, 8 people took 63 sec
and 4 took 68 sec". In other words we imagine the data looks like this:

53, 53, 58, 58, 58, 58, 58, 58, 58, 63, 63, 63, 63, 63, 63, 63, 63, 68, 68, 68, 68

Then we add them all up and divide by 21. The quick way to do it is to multiply each
midpoint by each frequency:

Midpoint Frequency Midpoint × Frequency

x f fx
53 2 106
58 7 406
63 8 504
68 4 272
Totals: 21 1288

And then our estimate of the mean time to complete the race is:

Estimated Mean = 1288/21 = 61.333...

Very close to the exact answer we got earlier.

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Estimating the Median from Grouped Data

Let's look at our data again:

Seconds Frequency
51 - 55 2
56 - 60 7
61 - 65 8
66 - 70 4

The median is the middle value, which in our case is the 11th one, which is in the 61 -
65 group:

We can say "the median group is 61 - 65"

But if we want an estimated median value we need to look more closely at the 61 -
65 group.

We call it "61 - 65", but it really includes values from 60.5 up to (but not including)
65.5.
Why? Well, the values are in whole seconds, so a real time of 60.5 is measured as
61. Likewise 65.4 is measured as 65.

At 60.5 we already have 9 runners, and by the next boundary at 65.5 we

have 17 runners. By drawing a straight line in between we can pick out where the
median frequency of n/2 runners is:

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And this handy formula does the calculation:

Estimated Median = L + (n/2) − BG × w

where:

• L is the lower class boundary of the group containing the median

• n is the total number of values
• B is the cumulative frequency of the groups before the median group
• G is the frequency of the median group
• w is the group width

For our example:

• L = 60.5
• n = 21
• B=2+7=9
• G=8
• w=5

Estimated Median= 60.5 + (21/2) − 98 × 5

= 60.5 + 0.9375
= 61.4375

Estimating the Mode from Grouped Data

Again, looking at our data:

Seconds Frequency
51 - 55 2
56 - 60 7
61 - 65 8
66 - 70 4

We can easily find the modal group (the group with the highest frequency), which
is 61 - 65

We can say "the modal group is 61 - 65"

But the actual Mode may not even be in that group! Or there may be more than one
mode. Without the raw data we don't really know.

But, we can estimate the Mode using the following formula:

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Estimated Mode = L + fm − fm-1(fm − fm-1) + (fm − fm+1) × w

where:

• L is the lower class boundary of the modal group

• fm-1 is the frequency of the group before the modal group
• fm is the frequency of the modal group
• fm+1 is the frequency of the group after the modal group
• w is the group width

In this example:

• L = 60.5
• fm-1 = 7
• fm = 8
• fm+1 = 4
• w=5

Estimated Mode= 60.5 + 8 − 7(8 − 7) + (8 − 4) × 5

= 60.5 + (1/5) × 5
= 61.5

Our final result is:

• Estimated Mean: 61.333...

• Estimated Median: 61.4375
• Estimated Mode: 61.5

(Compare that with the true Mean, Median and Mode of 61.38..., 61 and 62 that we
got at the very start.)

MEASURES OF VARIABILITY

Statistical measurements that indicate how data are dispersed or spread are called
measures of variability. These measures are used when we want to have an idea
about how far most of the values are from the average. For example, a manager may
need to know not only the average individual sales amount made by the employees,
but also whether the sales figures cluster closely around that average, or whether
certain sales figures re much higher or much lower than the average. In cases like
this, the measures of variability can be used.

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The most common measures of variability are the range, variance and standard
deviation.

FORMULA FOR DETERMINING THE RANGE

The range R is the difference between the highest and the lowest values in a given
set of data. In symbols, 𝑅 = ℎ𝑖𝑔ℎ𝑒𝑠𝑡 𝑣𝑎𝑙𝑢𝑒 − 𝑙𝑜𝑤𝑒𝑠𝑡 𝑣𝑎𝑙𝑢𝑒.

Example 8. Finding the Range

Determine the range of each set of data.

SET A 1,7,7,7,7,7,7,7,7,10
SET B 4,4,5,5,6,7,7,8,10,11

Solution:

To determine the range of a set of data, we just need to identify the highest and the
lowest values, and then find their difference; that is,

𝑅 = ℎ𝑖𝑔ℎ𝑒𝑠𝑡 𝑣𝑎𝑙𝑢𝑒 − 𝑙𝑜𝑤𝑒𝑠𝑡 𝑣𝑎𝑙𝑢𝑒

So for set A: 𝑅 = 10 − 1 = 9
So for set B: 𝑅 = 11 − 4 = 7

In certain cases, the range may not be a good indication of the variability of a set of
data, specifically when there are extremely large and extremely small data values. For
this reason, statisticians use another measure of variability called the variance and the
standard deviation.

The variance and the standard deviation are related in that the square root of the
variance is the standard deviation.

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FORMULA FOR DETERMINING THE VARIANCE

Let x be a data value in a given set of data, and 𝜇 be the mean of such set of data.
The variance, which is denoted by 𝜎 2 , can be computed as follows:

2
∑(𝑥 − 𝜇)2
𝜎 =
𝑛
Example 9. Finding the Variance

Consider again the following sets of data.

SET A 1,7,7,7,7,7,7,7,7,10
SET B 4,4,5,5,6,7,7,8,10,11

Find the variance of each set of data.

Solution:

To find the variance of each set of data, we need to find first the mean of each set. If
𝜇𝐴 is the mean of set A, and 𝜇𝐵 is the mean of set B, then:

1+7+7+7+7+7+7+7+7+10
𝜇𝐴 = = 6.7 and
10

4+4+5+5+6+7+7+8+10+11
𝜇𝐵 = = 6.7.
10

Now, to get the variance, we need to calculate the difference or deviation of each data
value (𝑥) from the mean; that is 𝑥 − 𝜇. After that, we square each difference; that is
(𝑥 − 𝜇)2 . Then we add all of a such squares of deviations, and divide the sum by the
number of data values 𝑛. Look at how this is done for each set of data.

Set A:

𝑥 𝑥 − 𝜇𝐴 (𝑥 − 𝜇𝐴 )2
1 1 − 6.7 = −5.7 (−5.7)2 = 32.49
7 7 − 6.7 = 0.3 (0.3)2 = 0.09
7 7 − 6.7 = 0.3 (0.3)2 = 0.09
7 7 − 6.7 = 0.3 (0.3)2 = 0.09

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7 7 − 6.7 = 0.3 (0.3)2 = 0.09
7 7 − 6.7 = 0.3 (0.3)2 = 0.09
7 7 − 6.7 = 0.3 (0.3)2 = 0.09
7 7 − 6.7 = 0.3 (0.3)2 = 0.09
7 7 − 6.7 = 0.3 (0.3)2 = 0.09
10 10 − 6.7 = 3.3 (3.3)2 = 10.89

∑(𝑥 − 𝜇)2 = 44.1

Since there are 10 data values, then 𝑛𝐴 = 10. The variance of set A, which we denote
as 𝜎𝐴2 , is computed as follows:

∑(𝑥 − 𝜇)2 44.1

𝜎𝐴2 = = = 4.41
𝑛𝐴 10

Set B:

𝑥 𝑥 − 𝜇𝐴 (𝑥 − 𝜇𝐴 )2
4 4 − 6.7 = −2.7 (−2.7)2 = 7.29
4 4 − 6.7 = −2.7 (−2.7)2 = 7.29
5 5 − 6.7 = −1.7 (−1.7)2 = 2.89
5 5 − 6.7 = −1.7 (−1.7)2 = 2.89
6 6 − 6.7 = −0.7 (−0.7)2 = 0.49
7 7 − 6.7 = 0.3 (0.3)2 = 0.09
7 7 − 6.7 = 0.3 (0.3)2 = 0.09
8 8 − 6.7 = 1.3 (1.3)2 = 1.69
10 10 − 6.7 = 3.3 (3.3)2 = 10.89
11 11 − 6.7 = 4.3 (4.3)2 = 18.49

∑(𝑥 − 𝜇)2 = 52.1

Since there are 10 data values, then 𝑛𝐴 = 10. The variance of set A, which we denote
as 𝜎𝐵2 , is computed as follows:
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2
∑(𝑥 − 𝜇)2 52.1
𝜎𝐵 = = = 5.21
𝑛𝐴 10

Thus, the variances of set A and set B are 4.41 and 5.21, respectively. Since the
variance in set A is less than the variance in set B, we can say that set A is less
dispersed than set B.

The last measure of variability that we will discuss in this lesson is the standard
deviation. As mentioned previously, the standard deviation is the square root of the
variance. This is stated in the following formula:

FORMULA FOR DETERMINING THE STANDARD DEVIATION

Let x be a data value in a given set of data, and 𝜇 be the mean of such set of data.
The standard deviation, which is denoted by 𝜎, can be computed as follows:

∑(𝑥 − 𝜇)2
𝜎=√
𝑛

Example 10. Finding the Standard Deviation

Consider again the following sets of data.

SET A 1,7,7,7,7,7,7,7,7,10
SET B 4,4,5,5,6,7,7,8,10,11

Find the standard deviation of each set of data. Then compare the variability or
dispersion of the two sets of data.

Solution:

In example 9, we have computed for the variances of sets A and B, which are as
follows.

𝜎𝐴2 = 4.41; and

𝜎𝐵2 = 5.21.

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To find the standard deviations of the two sets of data, we simplify calculate the
square roots of their variances; that is,

𝜎𝐴 = √𝜎𝐴2 = √4.41 = 2.1; 𝑎𝑛𝑑

𝜎𝐵 = √𝜎𝐵2 = √5.21 = 2.28.

Since 𝜎𝐴 < 𝜎𝐵 , we can conclude that set A is less dispersed than set B.

ACTIVITY 6. VARIABILITY
Directions. Determine the range, variance, and standard deviation of each goven set
of data. Write your answers in the table.

Data Set Range (R) Variance Standard

(𝝈𝟐 ) Deviation (𝝈)
1. 30 20 40 10 10
2. 92 60 88 85 98 92 92 80 86 80
3. 12.2 14.2 15.6 16.8 15.6 18.4

T-TEST

A t-test is a type of inferential statistic used to determine if there is a significant

difference between the means of two groups, which may be related in certain features.
It is mostly used when the data sets, like the data set recorded as the outcome from
flipping a coin 100 times, would follow a normal distribution and may have unknown
variances. A t-test is used as a hypothesis testing tool, which allows testing of
an assumption applicable to a population.

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A t-test looks at the t-statistic, the t-distribution values, and the degrees of freedom to
determine the statistical significance. To conduct a test with three or more means, one
must use an analysis of variance.

Essentially, a t-test allows us to compare the average values of the two data sets and
determine if they came from the same population. In the above examples, if we were
to take a sample of students from class A and another sample of students from class
B, we would not expect them to have exactly the same mean and standard deviation.
Similarly, samples taken from the placebo-fed control group and those taken from the
drug prescribed group should have a slightly different mean and standard deviation.

Mathematically, the t-test takes a sample from each of the two sets and establishes
the problem statement by assuming a null hypothesis that the two means are equal.
Based on the applicable formulas, certain values are calculated and compared against
the standard values, and the assumed null hypothesis is accepted or rejected
accordingly.

If the null hypothesis qualifies to be rejected, it indicates that data readings are strong
and are probably not due to chance. The t-test is just one of many tests used for this
purpose. Statisticians must additionally use tests other than the t-test to examine more
variables and tests with larger sample sizes. For a large sample size, statisticians use
a z-test. Other testing options include the chi-square test and the f-test.

There are three types of t-tests, and they are categorized as dependent and
independent t-tests.

Consider that a drug manufacturer wants to test a newly invented medicine. It follows
the standard procedure of trying the drug on one group of patients and giving a placebo
to another group, called the control group. The placebo given to the control group is a
substance of no intended therapeutic value and serves as a benchmark to measure
how the other group, which is given the actual drug, responds.

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After the drug trial, the members of the placebo-fed control group reported an increase
in average life expectancy of three years, while the members of the group who are
prescribed the new drug report an increase in average life expectancy of four years.
Instant observation may indicate that the drug is indeed working as the results are
better for the group using the drug. However, it is also possible that the observation
may be due to a chance occurrence, especially a surprising piece of luck. A t-test is
useful to conclude if the results are actually correct and applicable to the entire
population.

In a school, 100 students in class A scored an average of 85% with a standard

deviation of 3%. Another 100 students belonging to class B scored an average of 87%
with a standard deviation of 4%. While the average of class B is better than that of
class A, it may not be correct to jump to the conclusion that the overall performance
of students in class B is better than that of students in class A. This is because there
is natural variability in the test scores in both classes, so the difference could be due
to chance alone. A t-test can help to determine whether one class fared better than
the other.

T-Test Assumptions

1. The first assumption made regarding t-tests concerns the scale of

measurement. The assumption for a t-test is that the scale of measurement
applied to the data collected follows a continuous or ordinal scale, such as the
scores for an IQ test.
2. The second assumption made is that of a simple random sample, that the data
is collected from a representative, randomly selected portion of the total
population.
3. The third assumption is the data, when plotted, results in a normal distribution,
bell-shaped distribution curve.
4. The final assumption is the homogeneity of variance. Homogeneous, or equal,
variance exists when the standard deviations of samples are approximately
equal.

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Calculating T-Tests
Calculating a t-test requires three key data values. They include the difference
between the mean values from each data set (called the mean difference), the
standard deviation of each group, and the number of data values of each group.

The outcome of the t-test produces the t-value. This calculated t-value is then
compared against a value obtained from a critical value table (called the T-Distribution
Table). This comparison helps to determine the effect of chance alone on the
difference, and whether the difference is outside that chance range. The t-test
questions whether the difference between the groups represents a true difference in
the study or if it is possibly a meaningless random difference.

T-Distribution Tables
The T-Distribution Table is available in one-tail and two-tails formats. The former is
used for assessing cases which have a fixed value or range with a clear direction
(positive or negative). For instance, what is the probability of output value remaining
below -3, or getting more than seven when rolling a pair of dice? The latter is used for
range bound analysis, such as asking if the coordinates fall between -2 and +2.

The calculations can be performed with standard software programs that support the
necessary statistical functions, like those found in MS Excel.

T-Values and Degrees of Freedom

The t-test produces two values as its output: t-value and degrees of freedom. The t-
value is a ratio of the difference between the mean of the two sample sets and the
variation that exists within the sample sets. While the numerator value (the difference
between the mean of the two sample sets) is straightforward to calculate, the
denominator (the variation that exists within the sample sets) can become a bit
complicated depending upon the type of data values involved. The denominator of the
ratio is a measurement of the dispersion or variability. Higher values of the t-value,
also called t-score, indicate that a large difference exists between the two sample sets.
The smaller the t-value, the more similarity exists between the two sample sets.

• A large t-score indicates that the groups are different.

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• A small t-score indicates that the groups are similar.

Degrees of freedom refers to the values in a study that has the freedom to vary and
are essential for assessing the importance and the validity of the null hypothesis.
Computation of these values usually depends upon the number of data records
available in the sample set.

Correlated (or Paired) T-Test

The correlated t-test is performed when the samples typically consist of matched
pairs of similar units, or when there are cases of repeated measures. For example,
there may be instances of the same patients being tested repeatedly—before and after
receiving a particular treatment. In such cases, each patient is being used as a control
sample against themselves.

This method also applies to cases where the samples are related in some manner or
have matching characteristics, like a comparative analysis involving children, parents
or siblings. Correlated or paired t-tests are of a dependent type, as these involve cases
where the two sets of samples are related.

The formula for computing the t-value and degrees of freedom for a paired t-test is:

where mean 1 and mean 2 are the average value of each of the sample sets, 𝑠(𝑑𝑖𝑓𝑓)
is the standard deviation of the differences of the paired data values and 𝑛 si the
sample size (the number of paired differences).

The remaining two types belong to the independent t-tests. The samples of these
types are selected independent of each other—that is, the data sets in the two groups
don’t refer to the same values. They include cases like a group of 100 patients being
split into two sets of 50 patients each. One of the groups becomes the control group

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and is given a placebo, while the other group receives the prescribed treatment. This
constitutes two independent sample groups which are unpaired with each other.

Equal Variance (or Pooled) T-Test

The equal variance t-test is used when the number of samples in each group is the
same, or the variance of the two data sets is similar. The following formula is used for
calculating t-value and degrees of freedom for equal variance t-test:

where 𝑚𝑒𝑎𝑛 1 and 𝑚𝑒𝑎𝑛 2 are the average value of each of the sample sets,
𝑣𝑎𝑟 1 𝑎𝑛𝑑 𝑣𝑎𝑟 2 is the variance of each of the sample sets and 𝑛1 and 𝑛2 are the
number of records in each sample set.

and,

𝐷𝑒𝑔𝑟𝑒𝑒𝑠 𝑜𝑓 𝐹𝑟𝑒𝑒𝑑𝑜𝑚 = 𝑛1 + 𝑛2 − 2

where n1 and n2 are the number of records in each sample set.

Unequal Variance T-Test

The unequal variance t-test is used when the number of samples in each group is
different, and the variance of the two data sets is also different. This test is also called
the Welch's t-test. The following formula is used for calculating t-value and degrees of
freedom for an unequal variance t-test:

And

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Determining the Correct T-Test to Use

The following flowchart can be used to determine which t-test should be used based
on the characteristics of the sample sets. The key items to be considered include
whether the sample records are similar, the number of data records in each sample
set, and the variance of each sample set.

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Example 11. Unequal Variance T-Test Example

Assume that we are taking a diagonal measurement of paintings received in an art

gallery. One group of samples includes 10 paintings, while the other includes 20
paintings. The data sets, with the corresponding mean and variance values, are as
follows:

Though the mean of Set 2 is higher than that of Set 1, we cannot conclude that the
population corresponding to Set 2 has a higher mean than the population

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corresponding to Set 1. Is the difference from 19.4 to 21.6 due to chance alone, or do
differences really exist in the overall populations of all the paintings received in the art
gallery? We establish the problem by assuming the null hypothesis that the mean is
the same between the two sample sets and conduct a t-test to test if the hypothesis is
plausible.

Since the number of data records is different (n1 = 10 and n2 = 20) and the variance
is also different, the t-value and degrees of freedom are computed for the above data
set using the formula mentioned in the Unequal Variance T-Test section.
The t-value is -2.24787. Since the minus sign can be ignored when comparing the two
t-values, the computed value is 2.24787.

The degrees of freedom value is 24.38 and is reduced to 24, owing to the formula
definition requiring rounding down of the value to the least possible integer value.
One can specify a level of probability (alpha level, level of significance, p) as a criterion
for acceptance. In most cases, a 5% value can be assumed.

Using the degree of freedom value as 24 and a 5% level of significance, a look at the
t-value distribution table gives a value of 2.064. Comparing this value against the
computed value of 2.247 indicates that the calculated t-value is greater than the table
value at a significance level of 5%. Therefore, it is safe to reject the null hypothesis
that there is no difference between means. The population set has intrinsic differences,
and they are not by chance.

DEEPEN

ACTIVITY 7

1. Present the given data in tabular form. Label it appropriately.

In a public high school in Mandaue City, the number of enrolled students in 2007
according to year level are as follows:
Freshmen: 1024 Sophomores: 989 Juniors: 980 Seniors: 962
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2. Find the mean, median and mode of the given data:
The ages of the employees in BC Mall are as follows:
20, 21, 22, 26, 26, 28, 30, 30, 32, 35,40,35
3. Find the range, variance and standard deviation of the given data:
The table shows the number of softdrink bottles sold in a store in a week.
Day Number of Bottles
Sunday 99
Monday 98
Tuesday 103
Wednesday 110
Thursday 90
Friday 97
Saturday 103

j
SUMMARY

1. The mean 𝜇 (which is read as “myu”) of a set of data is obtained by dividing the
sum of all the data values by the number of data values. The mean may also be
simply referred to as the average. If 𝑥1 , 𝑥2 , 𝑥3 , … , 𝑥𝑛 are the data values in a set
𝑥1 +𝑥2 +𝑥3 +⋯+𝑥𝑛
data, then the formula for the mean is: 𝜇 = 𝑛

2. The median 𝑴𝒅 of a set of data is either the middle data value or the average of
the two middle data values when the values are arranged in either increasing or
decreasing order. Specifically, if the number of data values is odd, then the
median is the middle data value; and if the number of data values is even, then
the median is the average of the two middle data values.
3. The mode 𝑴𝒐 of a set of data is the data value or values that occur most
frequently. A given set of data may have no mode, one mode, or more than one
mode.

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4. For grouped data, we cannot find the exact Mean, Median and Mode, we can
only give estimates.
5. To estimate the Mean use the midpoints of the class intervals:
Estimated Mean = Sum of (Midpoint × Frequency)Sum of Frequency
6. To estimate the Median use:
Estimated Median = L + (n/2) − BG × w

where:

• L is the lower class boundary of the group containing the median

• n is the total number of data
• B is the cumulative frequency of the groups before the median group
• G is the frequency of the median group
• w is the group width

7.To estimate the Mode use:

Estimated Mode = L + fm − fm-1(fm − fm-1) + (fm − fm+1) × w

where:

1. L is the lower class boundary of the modal group

2. fm-1 is the frequency of the group before the modal group
3. fm is the frequency of the modal group
4. fm+1 is the frequency of the group after the modal group
5. w is the group width

8. The range R is the difference between the highest and the lowest values in a given
set of data. In symbols, 𝑅 = ℎ𝑖𝑔ℎ𝑒𝑠𝑡 𝑣𝑎𝑙𝑢𝑒 − 𝑙𝑜𝑤𝑒𝑠𝑡 𝑣𝑎𝑙𝑢𝑒.
9. Let x be a data value in a given set of data, and 𝜇 be the mean of such set of data.
The variance, which is denoted by 𝜎 2 , can be computed as follows:
∑(𝑥 − 𝜇)2
𝜎2 =
𝑛
10. Let x be a data value in a given set of data, and 𝜇 be the mean of such set of
data. The standard deviation, which is denoted by 𝜎, can be computed as follows:

∑(𝑥 − 𝜇)2
𝜎=√
𝑛

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11. A t-test is a type of inferential statistic used to determine if there is a
significant difference between the means of two groups, which may be related
in certain features.
12. The t-test is one of many tests used for the purpose of hypothesis testing in
statistics.
13. Calculating a t-test requires three key data values. They include the difference
between the mean values from each data set (called the mean difference), the
standard deviation of each group, and the number of data values of each
group.
14. There are several different types of t-test that can be performed depending on
the data and type of analysis required.

PROBLEM-SOLVING

Activity 8

1. In 2015, IQ +1 Learning Hub offered various tutorial programs with the following
monthly fees: ₱800, ₱1,600, ₱2,500, ₱3,000 and ₱3,500. The number of students
who enrolled in the said programs are 8, 23, 42, 18, and 24, respectively. Present
the given data in tabular form. Use the format below.
Table 1
(Title)
Monthly Fees Number of Students

2. A handicraft business has 18 employees. Eight of its employees are aged 18-24
years old, 5 employees are aged 25-31 years old, 3 employees are aged 32-38
years old and 2 employees are aged 39-45 years old. Determine the mean age.

3. Consider the given table:

FRUIT Number of Pieces Sold
Monday Tuesday Wednesday Thursday Friday
Apple 35 40 20 45 30
Orange 32 42 25 38 23
Mango 35 45 30 40 30

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Grapes 35 46 35 36 30
Strawberry 30 40 20 34 28
Determine the variance for each kind of fruit sold per day. Which fruit varies the
most in terms of number of pieces sold from day to day?

JOURNAL WRITING

My Business’ Data Analyzed

The students will organize their business data. They are to create a table out from
their data and label the essential parts of the table. They are to analyze and interpret
the data presented in the table using measures of central tendency and variability and
tests of significant differences.

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ANSWER KEY

ACTIVITY 1. MEASURE ME!

A.
1. Mean
2. Mode
3. Median
B.

a.
x = 177.50php
b. answers may vary

ACTIVITY 2. DATA, DATA

1. Answers may vary. It is important to visually present data to clearly
understand and determine the relationship of data.

2. Textual representation uses paragraph in representing data, tabulation

uses statistical table while graphical uses graphs and charts.

ACTIVITY 3. TABLE IT!

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ACTIVITY 4. LOOK IT UP THE TABLE
A.
1. Asia
2. Australia
3. Africa
4. Asia
5. Antarctica

B.

𝑥 𝑓(𝑥)
1-3 5
4-6 25
7-9 5
TOTAL 35

ACTIVITY 5. COMPLETE ME
Set of Data Mean Median Mode
3. 25, 21, 37, 16, 21 24 21 21
4. 94,79,67, 94, 87,94,61,82,82,70 74.5 82 94
3. 1.2, 3.6, 2.5, 4.4, 3.5, 2.2,6.1 3.4 3.5 none

ACTIVITY 6. VARIABILITY

Data Set Range (R) Variance Standard

(𝝈𝟐 ) Deviation (𝝈)
3. 30 20 40 10 10 30 136 11.66
4. 92 60 88 85 98 92 92 80 86 80 38 100.01 10
3. 12.2 14.2 15.6 16.8 15.6 18.4 6.2 3.78 1.95
ACTIVITY 7

1. Answers may vary but student should be able to label accordingly.

2. Mean = 28.75, Median = 29, Mode = 26, 30, 35
3. Range = 20, Variance = 33.14, Standard Deviation = 5.76
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Activity 8
1.
Table 1
IQ +1 Learning Hub Various Tutorial Programs’ Monthly Fees
Monthly Fees Number of Students
₱800 8
₱1,600 23
₱2,500 42
₱3,00 18
₱3,500 24

2.
3.
Fruit Variance
Apple 74
Orange 53.2
Mango 34
Grapes 27.44
Strawberry 43.84
The apple varies the most in terms of number of pieces sold from day to day.

REFERENCES

Bacani, Jerico B, and Jeffrey M Soriano. 2017. Business Mathematics For Senior
High School. Quezon City: C & E Publishing, Inc.
Kenton, Will. 2020. Investopedia. March 22. Accessed June 30, 2020.
https://www.investopedia.com/terms/t/t-test.asp.
Lopez, Brian Roy C, Leah C Martin-Lundag, and Keneth Adrian P Dagal. 2016.
Business Math. Quezon City: Vibal Group, Inc.
n.d. Maths is Fun. Accessed June 30, 2020.
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LEARNERS MODULE IN BUSINESS MATHEMATICS

PRESENTATION AND ANALYSIS OF BUSINESS DATA

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