Descriptive Statistic - Essay Example

The above chart shows negative skew for the high ATM usage, this states that more of the data observations lie on the lower measures of the data; fewer data, on the other hand, lies on the higher measure of the data. The data on debit card usage is also negatively skewed and this means that more of the data observations lie on the lower measures of the data, less data, on the other hand, lies on the higher measure of the data. The mean of high ATM usage is 10.3 showing that there are more individuals using ATM, the mean of debit card usage is 0.

43 showing that fewer people use debit cards. The mean is a measure of central tendencies of the data and they give us the probability of expected turnout. Therefore from this measure, it is clear that more people use ATM but fewer people use Debit cards. The standard deviation is a measure of the dispersion from the mean, the higher the standard deviation then the higher is the dispersion from the mean, however the lower the standard deviation then the lower is the standard deviation. In our case, the ATM usage standard deviation is 18.

45 and this is higher than the deviation of debit card usage which is 0.25. The population standard deviation is a measure of dispersion from the mean for the entire population, In this case the ATM usage population standard deviation is 18.14 and the population standard deviation for debit card usage is 0.25, the population standard deviation helps us to determine the validity of data analysis of the sample because a sample should be a representative of the entire population, therefore our sample is not biased and therefore represents the entire population due to the low errors.