Search

# Data Analysis and Decision Making

University: LONDON SCHOOL OF COMMERCE

• Unit No:
• Level: High school
• Pages: 12 / Words 3075
• Paper Type: Assignment
• Course Code:
Question :

This assessment will cover the following questions:

• How application of summarising and analysing data helps in effective decision-making process.
• Demonstrate and apply various techniques used for forecasting and making logical reasoning.
• How collected data and forecasting techniques helps to deal with the real-life situations.

## INTRODUCTION

Data analysis is a systematic process of collecting data from various sources and after that making detailed analysis with the help of a vital range of techniques. This analysed data helps business entities in order to make accurate decisions (Tsilimigras and Fodor, 2016). The project report is based on an analysis of data regards to humidity percentage in London city of ten days (Humidity Data of London, 2019). The report covers detailed calculations of different terms such as mean-mode-median etc. In the end part of the report, forecasting of humidity percentage is done with the help of a linear model.

## MAIN BODY

### 1. Representation of data in tabular form:

In this task of the report, humidity data of London city for ten days has been presented in the format of the table in below mentioned manner:

 Days (Date) Humidity (values in %) 1st of November, 2019 98 2nd of November, 2019 89 3rd of November, 2019 89 4th of November, 2019 96 5th of November, 2019 98 6th of November, 2019 95 7th of November, 2019 94 8th of November, 2019 95 9th of November, 2019 98 10th of November, 2019 91

Need to Consult Directly With Our Experts?

### 2. Data representation in charts:

Bar chart- It is a type of graph or chart that presents monetary data in the form of rectangular bars that contain heights proportional to values. Herein, below a bar chart is prepared that includes information about the humidity percentage for ten days:

Column chart- It is a type of graph or chart that presents monetary data in the form of vertical bars that contains values horizontally (Wang and Sun, 2015). Herein, below a bar chart is prepared that includes information about the humidity percentage for ten days:

### 3. Calculations of mean, median, mode, standard deviation and range:

 Days (Date) Humidity (values in %) 1st of November, 2019 98 2nd of November, 2019 89 3rd of November, 2019 89 4th of November, 2019 96 5th of November, 2019 98 6th of November, 2019 95 7th of November, 2019 94 8th of November, 2019 95 9th of November, 2019 98 10th of November, 2019 91 âˆ‘X 943 Mean 94.3 Mode 98 Median 95 Range 9 Maximum 98 Minimum 89

Mean- The term mean can be defined as a type of value that is computed by dividing the addition of all numbers by the number of values. Herein, below formula to calculate the mean is mentioned in such manner:

Mean= âˆ‘N/ N

N= 10

âˆ‘N= 943

Mean= 943/10

= 94.3

Mode- There is no specific formula to compute mode in the case of individual data series (Greenacre, 2017). This can derived by checking the frequency of numbers in a data series and if a number whose frequency is higher then it will be considered as mode. Such as in the above-mentioned data series, the value of the mode is 98 because its frequency is three which is higher among all numbers.

Need Homework Writing Help?

Get 100% Original Document Written by EXPERTS

Get Help

Median- It is a mid-value in a data series. This can be computed as per the nature of the data if the number of data is odd then the formula will be as: M = N+1/2th item. While if the number of data is even then M = (N/2th item+N/2th item + 1)/2. Before applying this formula, it is necessary to arrange all data in ascending order. Herein, below calculation of the median of humidity data is done in such manner:

 S. No. Humidity (in terms of %) 1 89 2 89 3 91 4 94 5 95 6 95 7 96 8 98 9 98 10 98

N = 10 (Even)

M = (N/2th item+N/2th item + 1)/2

= (10/2+10/2+1)2

= (5th item+6th item) / 2

= (95+95) / 2

= 95

Range- It is defined by making variation between maximum and minimum values among groups of numbers (Fisher, 2017). Such as in the above-mentioned data on humidity, the higher number is 98 and the lower number is 89. So the value of the range is 9 (98-89).

Standard deviation- This may be defined as the calculation of the value of variation in any particular data series. Herein, underneath calculation of standard deviation is done below in such a manner:

 Days (Date) Humidity (values in %) (x- mean) (x-mean)2 1st of November, 2019 98 3.7 13.69 2nd of November, 2019 89 -5.3 28.09 3rd of November, 2019 89 -5.3 28.09 4th of November, 2019 96 1.7 2.89 5th of November, 2019 98 3.7 13.69 6th of November, 2019 95 0.7 0.49 7th of November, 2019 94 -0.3 0.09 8th of November, 2019 95 0.7 0.49 9th of November, 2019 98 3.7 13.69 10th of November, 2019 91 -3.3 10.89 112.1

Variance = [ âˆ‘(x - mean) 2 / N ]

= 112.1/10

= 11.21

Standard deviation = âˆš ( variance )

= âˆš 11.21

= 3.35

Need Personalised Assistance from Our Experts?

Share Your Requirements via Whatsapp!

Chat Now

### 4. Calculating values of m, c and humidity forecast of days 15 and 20.

 Days (Date) Humidity (values in %) X2 âˆ‘XY 1 98 1 98 2 89 4 178 3 89 9 267 4 96 16 384 5 98 25 490 6 95 36 570 7 94 49 658 8 95 64 760 9 98 81 882 10 91 100 910 âˆ‘X= 55 âˆ‘Y= 943 âˆ‘X2 = 385 âˆ‘XY= 5197

1. Calculation of value of M-

M = N * âˆ‘xy - âˆ‘x * âˆ‘y / N*âˆ‘x2 - ( âˆ‘x )2

= 10*5197-55*943/10*385-(55)2

= 51970- 51865/3850-3025

= 105/825

= 0.13

2. Calculation of value of c:

C = âˆ‘y- m âˆ‘x/ N

= 943- 0.13* 55/10

= 943-0.715

= 942.28

3. Forecasting for 15th

Y= mx+c

= 0.13*15+942.28

= 944.23 or 94.44%

For 20th day

= 0.13*20+942.28

= 2.6+942.28

= 944.28 or 94.44%

## CONCLUSION

On the basis of the above project report, it has been concluded that data analysis contributes effectively in order to make accurate judgements. The report concludes with the computation of mean-mode-median as per the given data set. As well as in the further part of the report, forecasting of humidity is done for the 15th and 20th day.

Cite This Work To export references to this Sample, select the desired referencing style below:
Assignment Desk.(2024) Data Analysis and Decision Making Retrieved from: https://www.assignmentdesk.co.uk/free-samples/statistics/data-analysis-and-decision-making
Copy to Clipboard
Data Analysis and Decision Making Assignment Desk ,(2024),https://www.assignmentdesk.co.uk/free-samples/statistics/data-analysis-and-decision-making
Copy to Clipboard
Assignment Desk (2024) Data Analysis and Decision Making[Online]. Retrieved from: https://www.assignmentdesk.co.uk/free-samples/statistics/data-analysis-and-decision-making
Copy to Clipboard
Assignment Desk Data Analysis and Decision Making. (Assignment Desk, 2024) https://www.assignmentdesk.co.uk/free-samples/statistics/data-analysis-and-decision-making
Copy to Clipboard
Assignment Desk Data Analysis and Decision Making. [Internet]. Assignment Desk.(2024), Retrieved from: https://www.assignmentdesk.co.uk/free-samples/statistics/data-analysis-and-decision-making
Copy to Clipboard
Struggling with writing assignments? Take our academic writing services to resolve your problems. We not only provide online assignment help but also various other services like thesis, dissertation, and essay writing services. If you have any doubts about our experts, then we suggest you check our “Samples” before seeking dissertation help from us. Our experts can ease the complexity of your work. All you have to do is ask, “Can you do my assignment?”
Boost Grades & Leave Stress

Share Your Requirements Now for Customized Solutions.

Lowest Price
USD 6

Delivered on-time or your money back

100+ Qualified Writers

For Best Statistics Assignment Help

View All Writers
FREE Tools

To Make Your Work Original

• Paraphrasing Tool

Check your work against paraphrasing & get a free Plagiarism report!

Check Paraphrasing
• Plagiarism Checker

Check your work against plagiarism & get a free Plagiarism report!

Check Plagiarism
• Dissertation Outline Generator

Quick and Simple Tool to Generate Dissertation Outline Instantly

Dissertation Outline Generator
• Grammar Checker Tool

Make your content free of errors in just a few clicks for free!

Grammar Checker
• Essay Typer

Generate plagiarism-free essays as per your topic’s requirement!

Essay Typer
• Thesis Statement Generator

Generate a Compelling Thesis Statement and Impress Your Professor

Try Thesis Generator Tool

Professional Academic Help at Pocket-Friendly Prices!

Estimated Price

USD 6.32 25% OFF
Total Price USD 6
182532+Delivered Orders 4500+PhD Writers 4.8/5Client Rating

Limited Time Offer

Exclusive Library Membership + FREE Wallet Balance