Histograms Groups Bins Frequency number of observations Min= minimum value of the given data Range=Max-Min
Histograms Bin width=(max-min)/# of bins Adjusted bin width=round up the bin width to the higher value Eg: if bin width is 5.4 , the adjusted bin width 6 if bin width is 0.028 , the adjusted bin width 0.03 Number of bins to use- when dealing with a lot of data, use between 8 and 16 bins
Histogram
Example 1 The Table gives the estimated gross income in millions of dollars for the 40 highest paid entertainers in 1995 and 1996 combined. Maximum b) Minimum c)Range d)Bin Width e) Adjusted bin width Create Table I
Example 1- Raw data
Table 1(First 3 bins)
Table 1(contd./Last 4 bins)
Creating Histogram Enter your Bin limits into excel Tool->Data analysis->Histogram Input range- Enter the cells which contain the raw data Output range- Enter the cell you want to have the output You should now get two columns generated by the histogram function (bin limits and frequency) Insert->chart->standard type->column->next Data range tab->enter data range(select the data created by excel-the two columns without the labels) Series tab->enter values(select the data on frequency column-without the label)-> enter the category (x)-axis labels(select the data on bin limits column-without the label) Now select the data series->right click->format data series->select options tab->make the gap width to 0 Now enter appropriate Title/name the axis (using chart options)
Project Focus You must save the data file you download from the yahoo website as “.xls” (when you save it initially it will save the file as “.csv”) Where (gives us information about how two consecutive week’s prices compare to each other/analyze stock’s volatility) Example: Ratios of Closes=week 1 closing price/week 2 closing price Compute Max, Min, Average & Range of the Ratios of Closes
Histograms, Focus
Histograms, Focus
Histograms, Focus
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