You are given the following data series and directed to present an analysis of the data to Senior ECASH management: [20, 100, 20, 60, 100, 0, 70, 140, 60, 20, 80, 140, 160, 140, 100, 90, 60, 100, 20, 60, 140] Present Your Analysis: What type of Distribution best describes the above data? What supporting statistical analysis metrics (provide metric values) and analysis would you choose to present to Senior Management? Explain the rationale behind your chosen analysis support and metrics.
You are given the following data series and directed to present an analysis of the data to Senior ECASH management: [20, 100, 20, 60, 100, 0, 70, 140, 60, 20, 80, 140, 160, 140, 100, 90, 60, 100, 20, 60, 140]
Present Your Analysis:
What type of Distribution best describes the above data?
What supporting statistical analysis metrics (provide metric values) and analysis would you choose to present to Senior Management?
Explain the rationale behind your chosen analysis support and metrics.
In order to determine the better distribution for the given data points, need to plot frequency or histogram.
First, need to arrange the data in ascending order with corresponding frequencies and then look for a suitable distribution that can describe the pattern.
Step by step
Solved in 4 steps with 2 images
