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Application of Quantitative Methods in Managerial - Data Processing - Classification - Summarization

The document discusses various methods for summarizing quantitative data, including frequency distributions, histograms, stem-and-leaf displays, and different types of graphs. It provides examples of summarizing cost and rating data using tables, histograms, and stem-and-leaf plots. Key points covered include choosing the appropriate graph based on the data type and objectives, and ensuring categories or leaves are defined at an appropriate level of detail.

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Rajat Kukreti
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© Attribution Non-Commercial (BY-NC)
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Download as PPT, PDF, TXT or read online on Scribd
56 views22 pages

Application of Quantitative Methods in Managerial - Data Processing - Classification - Summarization

The document discusses various methods for summarizing quantitative data, including frequency distributions, histograms, stem-and-leaf displays, and different types of graphs. It provides examples of summarizing cost and rating data using tables, histograms, and stem-and-leaf plots. Key points covered include choosing the appropriate graph based on the data type and objectives, and ensuring categories or leaves are defined at an appropriate level of detail.

Uploaded by

Rajat Kukreti
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Module 1 Application of Quantitative Methods in Managerial Decision Making Data Processing - Classification Summarization Tabulation of data Presentation (Tabular

bular & Graphic) Frequency Distribution

Summarizing data using diagrams Cross-sectional data are collected at the same or approximately the same point in time.

Time series data are collected over several time periods.

Flow of water (cfs, cubic foot per second)

Flow of water in Colorado River, USA

Time series graph

Which graph to use depends on type of data what you want to illustrate available statistical software Brand Col Palm Lakme P&G Revlon Yardley Units sold 90 120 80 60 100

1. Line diagram 2. Pie chart 3. Bar chart 4. Scatter plot

140 120 100 80 60 40 20 0


G La km e Pa lm n Re vl o Ya r dle & y

Unit sales

Series 1

Co l_

Brand

Line Diagram Used for categorical data

Pie chart Used for categorical data


C o l_ P a lm L a km e P&G R e vlo n Ya rd le y

140 120 100 80 60 40 20 0


G La km e Pa lm n Ya rd le Re vl o & y

Unit sales

Series 1

Co l_

Brand

Bar chart Used for categorical data

Composite bar chart

Brand

Unit Sales 40 90 20 60 110 40 80 60 100 Total: 600

Duration of display 6 3 1 4 6 2 1 5 2 30 days

No. of insertions per day on TV 10 12 6 9 15 3 12 4 5

Col_Palm Dabur Garnier Himalaya Lakme Mabellene P&G Revlon Yardley

Unit sales

120 100 80 60 40 20 0 0 2 4 6 8 Display-duration (in days) Series1

120 100 80 60 40 20 0 0 10 20 30 TV insertions per day

Unit sales

Series1

Unit sales

120 100 80 60 40 20 0 0 2 4 6 8 Display-duration (in days)

Series1

7 6 5 4 3 2 1 0 0 10 20 30 TV insertions per day

Display-duration

Series1

120 100 80 60 40 20 0 0 10 20 30 TV insertions per day

Unit sales

Series1

Example 1 The manager of Hudson Auto would like to have a better understanding of the cost of parts used in the engine tune-ups performed in the shop. She examines 50 customer invoices for tune-ups. The costs of parts, rounded off to the nearest dollar, are listed on the next slide.

91 71 104 85 62

78 69 74 97 82

93 57 72 89 62 68 88 68 98 101

75 52 99 66 75 79 97 105 77 83 68 71 79 105 79

80 75 65 69 69

97 62 72 76 80 109 67 74 62 73

Frequency Distribution of engine tune-ups

2/50 = Cumulative Frequency more than 50 48 35 5+7 18 12 5

less than Cost ($) Frequency Relative Frequency 50-59 60-69 70-79 80-89 90-99 2 13 16 7 7 5 50 0.04 0.26 0.32 0.14 0.14 0.10 1.00 45 tune-ups cost less than $ 100 2 + 13 2 15 31 38 45 50

100-109

12 tune-ups cost more than $ 99

less than ogive Ogive 50 40 30 20 10 60 How many invoices will have the cost exceeding $ 95? How many invoices will have the cost lying in the range $ 65 to $ 75? 70 80 90 100 110 median Tune-up Cost ($)

Frequency

?
more than ogive

Histogram Unlike a bar graph, a histogram has no natural separation between rectangles of adjacent classes. 18 16 14 12 10 8 6 4 2
50-59 60-69 70-79 80-89 90-99 100-110

Histogram is for numerical data Bar chart is for categorical data

Frequency

Cost ($)

Too few categories


Age of Spring 1998 Stat 250 Students
60

Frequency (Count)

50 40 30 20 10 0 18 23 28

Age (in years)

2 students

Too many categories

GPAs of Spring 1998 Stat 250 Students


7 6

Frequency (Count)

5 4 3 2 1 0 2 3 4

GPA

=92 students

Guests staying at Marada Inn were asked to rate the quality of their accommodations as being excellent, above average, average, below average, or poor. The ratings provided by a sample of 20 guests are:

Below Average Above Average Above Average Average Above Average Average Above Average Average Above Average Below Average

Poor Excellent Above Average Average Above Average Above Average Below Average Poor Above Average Average

Frequency Distribution Rating Poor Below Average Average Above Average Excellent Total Frequency 2 3 5 9 1 20

Stem-and-Leaf Display 5 6 7 8 9 10 a stem 2 7 2 2 2 2 5 6 7 8 8 8 9 9 9 1 0 1 1 1 0 3 4 2 2 7 5 2 3 7 5 3 4 4 5 5 5 6 7 8 9 9 9 5 8 9 7 8 9 9 a leaf

91 71 104 85 62

78 69 74 97 82

93 72 62 88 98

57 89 68 68 101

75 66 97 83 79

52 75 105 68 105

99 79 77 71 79

80 75 65 69 69

97 72 80 67 62

62 76 109 74 73

Leaf Unit = 0.1 8 9 10 11 6 8 1 4 2 0 7

8.6

11.7

9.4

9.1

10.2

11.0

8.8

A single digit is used to define each leaf Leaf units may be 100, 10, 1, 0.1, and so on

Leaf Unit = 10 16 17 18 19 8 1 9 0 3 1 7

1806 1717 1974 1791 1682 1910 1838

The 82 in 1682 is rounded down to 80 and is represented as an 8

stem and leaf plot Displays the original data Is a numerical and pictorial display

frequency distribution Original data is not displayed Is only a pictorial display

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