2017 Operating Expenses
Generated May 8, 2019 by aben1993
1. Data was obtained from census.gov and reported on 32 kinds of businesses.
2. Central Tendency
I found in my report that the mean is 73824.969, the median is 60595.5, and there are multiple modes. I found in my data that 40763 and 82897 are both listed twice in my dataset. It is a right skewed distribution as seen in the boxplot.
3. Variation
The standard variation is 55850.546. This number looks kind of large but it is less than the average. The variance is 3.11 and it is the standard deviation squared.
The range of my data is 193194. This tells me that the maximum number is 196847 and my minimum number is 3653 and when they are subtracted, I get my range of my set of numbers.
4. Position
5# Summary is the minimum value, Quartile 1, Median, Quartile 3 and Maximum Value. The Minimum Value is 3653. The Quartile 1 is 26348.5. The Median is 60595.5. The Quartile 3 is 103846.5. The Maximum Value is 196847. The interquartile range 77498, which is the middle 50% of data that lies between 26348.5 and 103846.5. My data in the boxplot doesn’t show any outliers.
5. This data set caught my interest because everything that has to do with the economy in some way affects us as consumers. I chose this data because I could see the operating expenses from different kinds of businesses in the U.S.
6. I learned something new because I wasn’t aware of all the types of businesses there is in the U.S. since I only work for a small restaurant compared to other bigger corporations. Also, there is a big difference in expenses from the small business I work in with the ones I have analyzed in my stats from all U.S. businesses.
Summary statistics:
