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1.9 Partition Values

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56 views

1.9 Partition Values

Uploaded by

jaineti
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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Decision Making Techniques for Business

BBA -104
Unit - I

Dr. Eti Jain


Assistant Professor
Management School
[email protected]
Program Outcomes

PO1: Apply knowledge of various functional areas of business.


PO2: Develop communication and professional presentation skills.
PO3: Demonstrate critical thinking and Analytical skills for business decision making.
PO4: Illustrate leadership abilities to make effective and productive teams
PO5: Explore the implications and understanding of the process of starting a new venture.
PO6: Imbibe responsible citizenship towards a sustainable society and ecological
environment.
PO7: Appreciate inclusivity towards diverse cultures and imbibe universal values.
PO8: Foster Creative thinking to find innovative solutions for various business situations.
Course Objectives and Course Outcomes

1. To develop students Familiarity with the concepts of Operational Research


2. To develop understanding about tools of Statistics like Correlation, Regression,
etc.
3. Application of these techniques to solve commercial problems
4. To do efficient decision making.
Syllabus
Unit Details
S.No. Topic

1.1 Definition, Importance and Limitations of statistics

1.2 Collection of data and formation of frequency distribution of data


Graphic presentation of frequency distribution - Graphs, Bars (Simple, Sub-divided,
1.3
Multiple, Percentage)

1.4 Graphic presentation of frequency distribution - Histogram, Frequency Polygon, Ogives

Measures of Central Tendency - Mean of Individual, Discrete and Continuous series by


1.5
Direct, Assumed Mean and Step Deviation method
Properties of Arithmetic Mean, Weighted Arithmetic Mean, Geometric Mean, Harmonic
1.6
Mean, Correcting incorrect values
Measures of Central Tendency - Median of Individual, Discrete and Continuous series,
1.7
Median of unequal class intervals
Measures of Central Tendency - Mode of Individual, Discrete and Continuous series, Mode of
1.8
unequal class intervals
Unit Details

S.NO. Topic
1.9 Partition Values - Quartiles, Deciles and Percentiles of Individual, Discrete and Continuous
series
1.10 Measures of Variation - Range, Inter Quartile, Inter Percentile, Inter Decile Range, Quartile
Deviation
1.11 Measures of Variation - Mean Deviation of Individual, Discrete and Continuous series

1.12 Measures of Variation - Standard Deviation of Individual, Discrete and Continuous series by
Actual Mean, Assumed Mean and Ste deviation Methods

1.13 Measures of Variation - Variance; Correcting incorrect values of Standard Deviation

1.14 Lorenz Curve


1.9 Partition Values - Quartiles, Deciles and Percentiles of
Individual, Discrete and Continuous series
Introduction
• Students shall learn about partition values, calculation of partition values and
how to interpret them.

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QUARTILES
• Quartiles in statistics are values that divide your data into quarters.

• To divide the observation into two equally-sized parts, the median can be used.

• A Quartile is a set of values that divides a dataset into four equal parts.

• The first quartile, second quartile, and third quartile are the three basic quartile
categories.
• The lower quartile is another name for the first quartile and is denoted by the
letter Q1.

• The median is another term for the second quartile and is denoted by the letter Q2.

• The third quartile is often referred to as the upper quartile and is denoted by the
letter Q3.
• Instead they divide your data into four segments according to where the numbers fall on
the number line. The four quarters that divide a data set into quartiles are:

 The lowest 25% of numbers.


 The next lowest 25% of numbers (up to the median).
 The second highest 25% of numbers (above the median).
 The highest 25% of numbers.

• The procedure for computing quartiles, deciles and percentiles is the same as for the median.

• While computing these values for individual and discrete series we add 1 to N whereas in
continuous series we do not add 1.

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Quartiles
• Individual Observations and Discrete Series
𝑵+𝟏 th
 Q1= Size of ( )
𝟒
𝑵+𝟏 item
 Q3= Size of 3( )th item
𝟒

• Continuous Series
𝑵 th
Q
 1 = Size of ( 𝟒
) item
𝟑𝑵 th
 Q3 = Size of ( 𝟒 ) item

(Questions for practice)


Deciles
• The Deciles involve dividing a dataset into ten equal parts based on numerical
values.
• There are therefore nine deciles altogether.

• Deciles are represented as follows: D1, D2, D3, D4,…………, D9.

• One-tenth (1/10) of every given observation must be less than or equal to D 1, for

D1 to be the usual highest value.

• The remaining nine-tenths of the same observation, or 9/10, is, nevertheless,


greater than or equal to D1‘s value.
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Deciles
• Individual Observations and Discrete Series
𝑵+𝟏 th
 D1= Size of ( ) item
𝟏𝟎
𝑵+𝟏 th
 D4= Size of 4( ) item
𝟏𝟎
• Continuous Series
𝑵 th
 D1 = Size of ( 𝟏𝟎 )
item 𝟒𝑵 th
D
 4 = Size of ( 𝟏𝟎
)
item
Percentiles
• Centiles is another term for Percentiles.
• Any given observation is essentially divided into a total of 100 equal
parts by a centile or percentile.

• These percentiles or centiles are represented as P 1, P2, P3, P4,

……….P99.

• P1 is a typical value of peaks for which 1/100 of any given data is

either less than P1 or equal to P1.

14
Percentiles
• Individual Observations and Discrete Series
𝑵+𝟏 th
 P1= Size of ( ) item
𝟏𝟎𝟎
 P 60= Size of 60(𝑵+𝟏
item 𝟏𝟎𝟎 th
)
• Continuous Series
𝑵 th
 P1= Size of ( ) item
𝟏𝟎𝟎
 P = Size of (𝟔𝟎𝑵
item
60 𝟏𝟎𝟎 )th
• Find Q1, Q3, D5 and P25 from the following data sets-

X= 21,15, 40, 30, 26, 45, 50, 54, 60, 65, 70

Marks No. of students


Below 10 8
• From the following data
10 – 20 10
compute the value of upper
and lower quartile, D2, P90 20 – 40 22
and P5. 40 – 60 25
60 – 80 10
Above 80 5
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Conclusion
• Students were taught about the meaning, importance and
interpretation of Quartiles, Percentiles and Deciles

18
Suggested Readings
• Author: Dr. S.P. Gupta and Dr. P.K. Gupta
• Title of the book: Quantitative Techniques and Operation
Research
• Chapter Name: Measures of Central Tendency
Reference Material (Notes and ebook)
https://drive.google.com/drive/folders/1WYGwU6tl7sMHejg
jqHa6A3BySc9IEGJn?usp=drive_link

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