There six variables that we will analyse in this section, and shall be done one at a time.
There are three different account types that are extracted from our sample. They are: * V: Visa
* C: Cheque
Refer to the frequency table and the pie chart provided in the appendices, you will notice that 6% of the sample have C accounts, 33% of the sample data have S accounts; and 61% of the sample data have V accounts. We can now refer to the pie chart, which represents the frequency table in graphical form. It was decided that this type of data was nominal, hence; choosing the appropriate techniques to represent and analyse this data type.
Refer to the frequency table in and the bar graph in the appendices, you will notice that 90% of the sample data are males and 10% of them are females. We can now refer to the bar graph, which graphical represents the portion of females and males from the sample. It was decided that this data type was nominal, hence choosing the appropriate techniques to represent and analyse the data type.
Age – Please refer to Appendices-1iii
For this data type a different approach was taken. You will notice the frequency table in the appendices, under the ‘Age’ column there are age intervals (e.g. 30 - <40) which help group the data for a better representation. There is another table labelled ‘Data Analysis – Descriptive Stats’ which helps us to determine certain aspects of a ratio (continuous) data type. The important statistics that will be discussed whenever there is an analysis as such will be highlighted in Black. However, as done before the frequency table is provided with a graphical representation (Histogram) which displays the data.
Now specifically referring to the data analysis there are specific statistics that shall be discussed and explained as follows: * Mean: which provides the centrally tendency of this sample data, and concludes that the...