StatCrunch logo (home)

Report Properties
Thumbnail:

from Flickr
Owner: nnkarma12
Created: Feb 3, 2016
Share: yes
Views: 614
Tags:
 
Results in this report
None
 
Data sets in this report
None
 
Need help?
To copy selected text, right click to Copy or choose the Copy option under your browser's Edit menu. Text copied in this manner can be pasted directly into most documents with formatting maintained.
To copy selected graphs, right click on the graph to Copy. When pasting into a document, make sure to paste the graph content rather than a link to the graph. For example, to paste in MS Word choose Edit > Paste Special, and select the Device Independent Bitmap option.
You can now also Mail results and reports. The email may contain a simple link to the StatCrunch site or the complete output with data and graphics attached. In addition to being a great way to deliver output to someone else, this is also a great way to save your own hard copy. To try it out, simply click on the Mail link.
Auto Safety Nasser
Mail   Print   Twitter   Facebook

Autosafety report.
Nasser Karmali 

Table 1: Data table of the summary results

ColumnnMeanVarianceStd. dev.Std. err.MedianRangeMinMaxQ1Q3
Rating S 26 134.46154 2526.2585 50.261899 9.8571693 133.5 184 63 247 104 147
Rating M 28 104.67857 874.52249 29.572326 5.5886444 102 111 58 169 79 125
Rating L 16 68.125 202.91667 14.244882 3.5612205 68 53 39 92 57.5 77

Figure 2: Boxplot of the Autosafety results

Data analysis:

It is important to first note that the number of data sets for each category (S,M and L) is not the same. Mid size cars has the highest data entry (n=28) followed by the small cars category (n=26) and the large has the least (n=16). Considering the fact that a rating of 100 is the average for all cars, any rating higher than the average will express worse ratings and any ratings under that will express safer ratings.

The box plot shows us that Large car models have the best ratings with the lowest median (M= 68). Small cars were deemed the least safe with a high median of 133.5 followed by the mid size cars with a median of 102. The mean of the cars showed similar results; small cars had the highest mean (M=135) followed by the mid-size cars (M=105) and finally the large cars had the lowest mean ratings (68). This means that the small cars performed 35% worst than the average cars but the large cars performed 32% better on average than the average car.

In terms of variablity of the data, the large cars had the lowest IQR (77-57.5=19.5) whereas the mid size cars had the largest IQR (125-79=46) followed by the the small-size cars with an IQR of 43 (147-104=43).  This shows that the large cars showed consistently better safety ratings compared to the mid size or small cars. It is also of note that the data set between the small and mid size cars overlap which shows some small cars perform better in the safety ratings than the mid size cars even though the means and medians for both groups are different. This can be attributed to the high variability in data for the two groups (IQRs). The small car category also contains three outliers towards the higher ratings which shows three large safety risk cars compared to the average. 

Overall, the large cars are consistently safer than the other categories. The small cars are the least safe on average but there is some overlap with the mid-size cars meaning that not all small cars are less safe than the mid size cars and vice versa. Therefore this insurance company should provide low premiums for large cars and higher premiums for mid size and small cars. The three outliers in the small car category should have the highest premium as they are the most prone to accidents.

HTML link:
<A href="https://www.statcrunch.com/5.0/viewreport.php?reportid=56275">Auto Safety Nasser</A>

Comments
Want to comment? Subscribe
Already a member? Sign in.

Always Learning